Group 1 - The price of down jackets has significantly increased, with duck down rising from 170,000 yuan per ton to 580,000 yuan, and goose down reaching 980,000 yuan, yet sales remain low, indicating a shift in consumer preferences towards more affordable options [1] - The white liquor industry is experiencing a collective slowdown, with a 12% year-on-year decline in production for the first three quarters, marking seven consecutive years of negative growth, while the market for clear liquor and fruit wine is projected to exceed 50 billion yuan in 2024, growing over 40% [3] - The luxury goods market is thriving, with a 5.08% increase in sales in Shanghai's Jing'an luxury shopping district in Q3, and a 30% rise in luxury sales on the discount e-commerce platform Vipshop, indicating a resurgence in consumer spending on luxury items [5] Group 2 - The combined trends suggest a clear signal that young consumers are evolving their spending habits, prioritizing value and comfort over high-priced luxury items, while still willing to spend on emotional value when it aligns with their preferences [7]