Core Viewpoint - The price of badminton has surged over 100% in the past two years, leading to the emergence of a "futures badminton" purchasing model on social media, which aims to bypass traditional intermediaries and address high prices [1][2]. Group 1: Market Dynamics - The "futures badminton" model involves customers paying upfront and receiving products after a delay of two to three weeks, with prices ranging from 118 to 240 yuan [2]. - A middleman named Chen Dong explained that this model allows customers to purchase badminton at prices 30 yuan lower than retail, relying on trust for the delayed delivery [5]. - The rising prices are attributed to a combination of raw material shortages and changes in the supply chain, with significant price increases observed across various brands [6][9]. Group 2: Raw Material Shortages - The shortage of feathers, particularly from ducks, has been identified as a key factor driving up prices, with the wholesale price of key raw material "knife feathers" rising from 200 yuan per pound to 280 yuan within a year, a 40% increase [8]. - The reduction in the growth period for ducks has led to a decrease in the quality and quantity of feathers available for badminton production [9]. - The current market dynamics have created a cycle of high costs, low production capacity, and high retail prices for badminton products [9]. Group 3: Sales and Distribution Challenges - Traditional sales channels have contributed to inflated prices, with multiple layers of intermediaries increasing the final retail price seen by consumers [10]. - Although new purchasing models like "futures badminton" are emerging, they face challenges such as limited scale and trust issues, making it difficult to significantly impact the existing pricing structure [10][11]. - The current market does not support a true flattening of channels, and the concept of "futures" in this context is more of a marketing strategy rather than a financial instrument [11].