Core Insights - The article discusses the changing dynamics of brand collaborations in the beverage industry, particularly focusing on the contrasting strategies of brands like Heytea and Guming, highlighting a trend towards cautious collaboration by some brands while others aggressively pursue partnerships [1][7]. Group 1: Brand Collaboration Trends - Heytea has adopted a more cautious approach to collaborations in 2025, with no major brand partnerships announced so far, contrasting with its previous year where it had multiple high-profile collaborations [1][7]. - Guming, on the other hand, has successfully launched collaborations, such as with the popular game "Honkai: Star Rail," which led to significant consumer engagement and even caused their online platform to crash due to high traffic [3][4]. - The overall number of collaborations among major brands remains stable, with 149 collaborations announced in 2024, similar to 155 in 2023, indicating a consistent interest in brand partnerships across the industry [7][22]. Group 2: Strategic Differences in Collaborations - Different brands exhibit varying preferences in collaboration types, with Heytea favoring lifestyle and fashion brands, while Guming focuses on popular anime and gaming IPs [9][11]. - The choice of collaboration partners reflects the brands' positioning and development stages, with Heytea emphasizing cultural value and brand identity over aggressive market expansion [11][13]. - Brands in expansion phases, like Guming, leverage popular IPs to enhance brand visibility and product premiumization, targeting specific consumer demographics [13][15]. Group 3: Consumer Sentiment and Market Dynamics - Consumer interest in brand collaborations is showing signs of fatigue, with over 60% of consumers feeling that collaboration activities lack novelty, leading to a more rational approach towards such marketing strategies [22][23]. - The article notes that while successful collaborations can drive sales and brand influence, excessive or poorly executed partnerships may lead to consumer distrust and a decline in brand loyalty [22][24]. - The ideal collaboration strategy should align with the brand's core identity and long-term goals, balancing short-term gains with sustainable brand positioning [23][24].

Core Viewpoint - Starbucks is facing significant operational challenges and customer dissatisfaction due to high demand for its limited edition merchandise, leading to system overloads and negative customer experiences [3][4][5]. Group 1: Product Launch and Customer Response - On April 28, Starbucks launched a limited edition "Mayday" collaboration cups, which quickly became a trending topic on social media as customers reported difficulties in purchasing them due to system crashes [3][4]. - The original price of the glass straw cup was 199 yuan, but it is now being resold for between 328 yuan and 699 yuan on second-hand platforms. Similarly, the stainless steel cup originally priced at 249 yuan is being resold for 290 yuan to 799 yuan [3][7]. Group 2: Financial Performance - For the first fiscal quarter ending December 29, 2024, Starbucks reported total revenue of $9.398 billion, which was roughly flat year-over-year and exceeded market expectations. However, operating profit fell by 24.5% to $1.122 billion, and net profit decreased by 23.8% to $781 million, with earnings per share at $0.69, also below the previous year [9]. - CEO Brian Niccol indicated that the company is in a transformation phase and has initiated the "Return to Starbucks" plan, which aims to address fundamental issues and restore brand confidence for sustainable long-term growth [9]. Group 3: Market Speculation - There have been ongoing rumors regarding the potential sale of Starbucks China, with Alibaba reportedly involved in the bidding process. However, Alibaba has denied these claims, labeling them as false. Other potential buyers include China Resources, Meituan, and various private equity firms, with Starbucks China estimated to be valued at over $1 billion [9].