国庆假期的旅行照片还没晒完，为了出片特地买了大疆云台相机用户，就破防了。 10月9日开始的降价，恰好完美错开了绝大多数用户的"7天价保期"。无数为了国庆出行而在9月底下单的消费者，发现自己与数百乃至上千元的差价，只 隔着一个无法逾越的假期。 大疆官方给出的"双十一促销"解释，其实颇为合理，因为当下确实正是部分电商平台进入"双十一"的节点。而节后促销也很容易激起消费者的新鲜感。 10月9日，大疆官方渠道对旗下多款产品进行大幅价格调整。原价3499元的明星产品Osmo Pocket 3，价格直接斩落近20%；Mini系列无人机，最高降幅接 近1500元。 官方将其定义为"双十一常规促销"，但因其过于提前的时间点和巨大的降幅，不少新近购买这些产品的消费者被激怒，认为这属于"背刺"。 除了想方设法退款退货之外，社交网络上，"大冤种"的自嘲与愤怒的声讨交织，大疆也顺势被送上热搜。 如果仅看产品本身的功用，这些刚刚完成了首次使命的大疆相机们当然是无可挑剔的。然而，一张降价海报，并不足以说服这些卡点买的用户"早买早享 受"。 某种程度上，反而是他们买得太晚，刚好赶上了这个市场新旧交替的重要拐点——这种时候，品牌最容易有动作 ...

节后首个工作日，让消费者最"破防"的是刚买的大疆降价了。 10月9日，大疆宣布开启"双十一"预售活动，其在京东、天猫、淘宝等主流电商平台的官方旗舰店，以及线下实体门店同步上线降价活动，运动相机、消 费级无人机、手持稳定器等全品类产品集体贴上"直降"标签，力度堪称年内最大。 其中，最受关注的明星产品云台相机Osmo Pocket 3，自上市以来价格始终坚挺。此次迎来"首降"，最高直降900元。这一"跳水"式降价，成为点燃消费者 情绪的核心导火索。不少消费者感到被"背刺"，在社交平台上发起讨论，分享退差价维权经验。 尽管大疆回应："此次价格调整是'双十一'的常规促销，线上线下统一退换货有难度，将协同优化相关服务与沟通机制。"不过，从行业视角看，这更像是 大疆对影石持续攻势的"应战"之举。 如今，在运动相机、全景相机、无人机等核心赛道，大疆与影石进入各自占据优势领域，让这场行业较量愈发激烈。 7天价保，大疆打响"价格战" 《IT时报》记者在电商平台观察发现，云台相机Osmo Pocket 3标准版降价700元，全能套装降价900元；运动相机Action 4最高降价1129元；MINI 4 PRO无 人机最高降价14 ...

二十多天过去，曾经被推上舆论风口浪尖的西贝，如今正试图用一场前所未有的降价行动挽回消费者的心。 国庆前夜，这个长期被贴上"高价"标签的餐饮品牌突然宣布全线大幅降价。自10月1日起，多款核心菜品价格下调：西贝面筋从39元降至33元，手撕椒麻鸡从63元 降至46元，草原嫩烤羊排从119元降至109元，葱香烤鱼从89元降至79元，黄米凉糕从29元降至26元，并同步推出100元无门槛代金券。 图源：西贝小程序 如此力度的价格调整，在西贝的发展史上尚属首次。这场被业界视为"自救"的降价行动，究竟效果如何？ 根据首席从不同渠道观察，受到假期客流增长的推动，与节前多家门店门庭冷落的情形相比，国庆期间西贝的客流量开始回升。就餐高峰期，一些门店出现了消 费者需要等候一段时间才能入座的情况，也有家庭聚餐开始回归。 回顾西贝近期的系列举措——从引发争议的"7岁孩子哭着要吃"煽情文案，到创始人贾国龙"全网闭麦"，西贝似乎并未能有效平息关于"定价过高"与"预制菜"的舆 论风波。 图源：西贝品味早读 如今， 西贝选择以"自砍一刀"的方式寻求突破，这场声势浩大的降价行动，究竟能否真正扭转西贝的困局？ 大放代金券，西贝"降价"留客 国庆有朋 ...

Core Insights - The automotive industry is experiencing a surge in new car launches, particularly in the electric vehicle (EV) segment, as companies rush to capitalize on government subsidies before they expire [1][5][19] - The demand for new cars has been robust, with several manufacturers reporting record sales in September, indicating a strong consumer interest in purchasing vehicles during the holiday season [1][6][19] - However, some brands are facing challenges, with lower foot traffic and sales during the National Day holiday, suggesting a mixed market response [12][15][19] New Car Launches - Nearly 80 new car models were launched in September, averaging two new cars per day, with a significant proportion being SUVs and electric vehicles [1] - Notable new models include the Li Auto i6, NIO ES8, and Zeekr 9X, which have attracted considerable consumer interest [1] Sales Performance - Several companies reported record sales in September, including Leap Motor exceeding 60,000 deliveries, and NIO maintaining over 30,000 monthly deliveries [1][6] - During the National Day holiday, some dealerships experienced high customer engagement, with significant interest in models like the Aito M7 and Zeekr 9X [6][9] Consumer Behavior - Consumers are increasingly motivated to purchase vehicles before subsidy programs end, leading to a rush in sales [10][19] - Some customers are opting to wait for better deals or are hesitant to purchase due to the uncertainty surrounding subsidy policies [10][19] Market Dynamics - The market is shifting from a "price war" to a "value war," with consumers becoming more discerning and focused on product quality rather than just price [19][21] - Companies are introducing tax rebate policies to attract buyers, indicating a strategic shift in response to changing consumer expectations [19][21] Regional Variations - Sales performance varies significantly by region, with some areas experiencing high demand while others, like certain Audi and Lantu dealerships, report low customer turnout [12][15] - Local subsidy policies are influencing consumer decisions, with some regions having already suspended or adjusted their vehicle replacement subsidies [10][19]

第三波：实体寒冬——消费电子与大众消费品"以价换量"的无奈 放眼望去，无论是新款手机、平板电脑、家用电器，还是日常的服装、零食，"促销"、"满减"、"骨折价"的标签无处不在，闪烁着诱人的光芒。这看似是消 费者的狂欢，实则是企业端"以价换量"的无奈之举，繁荣背后暗藏着隐忧。 凛冬将至，经济寒流暗涌。十月的瑟瑟秋风，不仅仅带来季节的更迭，更预示着一场深刻的价格重构正在席卷市场。四股强劲的"降价潮"，如同四面楚歌， 将不同人群推向截然不同的境地，有人欢欣鼓舞，有人如坠冰窟。 第四波：社交密码失效——高端白酒与奢侈品的"祛魅" 曾经象征着身份与地位的高端白酒和奢侈品，如今在二手市场和非官方渠道的价格却悄然松动。这不仅仅是单纯的商品降价，更折射出社会心态的微妙转 变，是"送礼经济"退潮的先兆。 那些注重性价比、追求理性消费的实力买家，对此乐见其成。他们终于可以摆脱品牌溢价的束缚，以更合理的价格，触摸到曾经遥不可及的"身份象征"，商 品的真实使用价值正在回归。 然而，那些习惯于依赖"人情社会"和"圈子文化"的特定群体，却因此倍感焦虑。当名酒名包不再是社交场合的硬通货，其背后所维系的关系网络和办事逻辑 也随之动摇。他们需要 ...

客户因低价而来，也因品质问题转身离去。掉色、脱落、售后无门——所有指责最终都指向一线经销商。他们透支多年积累的信誉，为这场恶性竞争兜底。 价格战没有赢家，但经销商一定是输得最惨的那个。当行业陷入"低价=低质"的恶性循环，最先倒下的，永远是那些在一线苦苦支撑的经销商。 别再为价格战喝彩——它正在吞噬这个行业最宝贵的毛细血管。 更残酷的是双重挤压。厂家以"战略合作"为名提高任务量，要求现款压货；终端市场在无休止的降价中变得麻木，货越来越难卖。 经销商困在中间——仓库里堆满同质化产品，现金流日益枯竭，利润薄如刀片。 当"价格直降"、"买十送五"的横幅挂满建材市场时，看似是消费者捡了便宜，实则这场游戏的唯一买单者，只有被套牢的经销商。 厂家发动价格战，牺牲的是品质与服务。低价背后，是乳液比例下调、真石含量缩减、施工监管缺失。经销商被迫拿着缩水产品，却要向客户承诺"二十年 不褪色"。 ...

Core Viewpoint - The ongoing price war in China's bottled water market has intensified competition among major players, particularly Nongfu Spring, Wahaha, and Yibao, leading to significant market share shifts and financial impacts on the companies involved [2][3][7]. Group 1: Market Dynamics - In April 2024, Nongfu Spring launched its green bottle purified water at a retail price of 1 yuan per bottle, directly targeting competitors Yibao and Wahaha [2]. - The competition has led to aggressive pricing strategies, with Yibao also reducing its bottled water prices to below 1 yuan, including promotional offers such as 0.01 yuan per bottle [3][4]. - As of August 2025, Wahaha's market share increased from 14.22% to 17.7%, while Yibao's share decreased from 25.11% to 20.34%, indicating a significant shift in competitive dynamics [4][8]. Group 2: Financial Implications - Yibao's parent company, China Resources Beverage, reported a 23.1% decline in revenue from bottled water in the first half of 2025, with all product categories experiencing a downturn [8]. - The aggressive subsidy strategies employed by both Yibao and Nongfu Spring have led to a phenomenon of "price inversion," where distributors sell products below cost to maintain market share [5][6]. - The financial strain from these subsidies has raised concerns among distributors, who face pressure to meet sales targets while managing costs [5][6]. Group 3: Historical Context - The bottled water industry in China has evolved significantly over the past 30 years, with Yibao initially dominating the market until being challenged by Nongfu Spring's strategic initiatives [9][10]. - Yibao's market share had been steadily increasing until the recent competitive pressures from Nongfu Spring's green bottle offerings, which disrupted its previously stable position [8][10]. - The historical context highlights the shift from a less competitive market to one where price wars are prevalent, driven by the need to capture a larger consumer base [10].

作者：顺安 随着瓶装水企业2025年上半年业绩报告的陆续发布，行业巨头们交出了一份份意味深长的成绩单：农夫 山泉凭借多品类战略高歌猛进，净利润同比增长超22%，茶饮料业务首次突破百亿元大关；而曾经的市 场霸主华润怡宝却遭遇"滑铁卢"，净利润同比暴跌28.7%，传统包装水业务收入同比下降超两成。 这场始于2024年的"价格战"正在演变为一场更深层次的"价值争夺战"。曾经依靠"1元水"打天下的时代 正在远去，取而代之的是水源地竞争、产品创新和渠道变革的全方位比拼。娃哈哈通过情感营销和渠道 改革实现强势回归，区域品牌润田谋划上市，就连新零售巨头胖东来、东方甄选也纷纷入局分羹。 随着消费端需求的变化，消费者不再满足于"解渴"的基本需求，他们关注水源品质、包装环保性、品牌 价值观，甚至产品的社交属性。瓶装水市场的竞争也从单纯的"价格战"转变为水源、品牌等多维度的竞 争。 中期业绩分化 瓶装水市场格局生变 近期，各大以瓶装水为主营业务的企业纷纷发布2025年上半年业绩报告，让外界得以窥见当下激烈的市 场竞争态势。 作为行业龙头之一的农夫山泉，今年上半年展现出了强势的增长势头。根据其披露的2025年上半年业绩 报告，上半年 ...

Core Viewpoint - The ongoing price war in China's bottled water market has intensified, particularly among major players like Nongfu Spring, Wahaha, and Yibao, leading to significant market share shifts and financial impacts on the companies involved [2][5][10]. Group 1: Market Dynamics - Nongfu Spring launched its green bottle purified water at a retail price of 1 yuan per bottle, directly targeting the core markets of Yibao and Wahaha [2][8]. - The competition has escalated to a "water war" among the three companies, with each investing heavily in subsidies and pricing strategies to capture market share [5][10]. - As of August 2025, Wahaha's market share increased from 14.22% to 17.7%, while Yibao's share dropped from 25.11% to 20.34% [10][12]. Group 2: Pricing Strategies - Retail prices for bottled water have plummeted, with Nongfu Spring's red bottle water being sold at around 0.8 yuan per bottle, nearly matching the wholesale price [5][10]. - Yibao has also engaged in aggressive pricing tactics, including promotional offers that have seen prices drop to as low as 0.01 yuan per bottle [8][10]. - The intense competition has led to a phenomenon of "price inversion," where distributors sell products below cost to meet sales targets and maintain market presence [12][13]. Group 3: Financial Performance - Yibao's financial results for the first half of 2025 showed a significant decline, with revenue dropping by 18.52% to 6.206 billion yuan and net profit decreasing by 28.74% to 0.823 billion yuan [16]. - The gross margin for Yibao fell from 49.3% to 46.7%, indicating pressure on profitability due to the ongoing price war [16]. - The overall bottled water market has seen a shift, with Yibao's previously steady market share now facing unprecedented challenges due to aggressive pricing from competitors [14][16].

Core Viewpoint - The ongoing price war in China's bottled water market has intensified, with major players like Nongfu Spring, Wahaha, and Yibao engaging in aggressive pricing strategies, leading to significant market share shifts and financial impacts on the companies involved [1][6][13]. Group 1: Price War Dynamics - Nongfu Spring launched its green bottle purified water at a retail price of 1 yuan per bottle, directly targeting the core markets of Yibao and Wahaha [1][6]. - The retail price of Nongfu Spring's red bottle water has dropped to around 0.8 yuan per bottle due to heavy subsidies from the company and external platforms [3][8]. - Wahaha, under the leadership of Zong Fuli, has also reduced its bottled water prices to below 1 yuan, employing aggressive promotional strategies similar to those seen in other sectors [6][8]. Group 2: Market Share Changes - As of April 2024, Wahaha's market share in the bottled water segment increased from 14.22% to 17.7%, while Yibao's share decreased from 25.11% to 20.34% [8][12]. - The competitive landscape has shifted significantly, with Nongfu Spring maintaining a leading position despite short-term fluctuations in market share [8][12]. Group 3: Financial Performance - Yibao's revenue and net profit have declined significantly, with a reported 18.52% drop in revenue and a 28.74% decrease in net profit for the first half of 2025 compared to the same period in 2024 [15][16]. - The gross margin for Yibao has decreased by 2.6 percentage points, indicating pressure on profitability amid the price war [15][16]. Group 4: Industry Practices - The practice of "performance betting" in subsidies has become common, where distributors face pressure to meet sales targets or risk losing rewards, leading to price undercutting [8][11]. - Instances of "price inversion" have emerged, where distributors sell products below cost to maintain market presence, reflecting the intense competitive pressures in the industry [11][12].