真实消费者：自饮、礼赠与收藏需求并存 在抢购成功的消费者中，既有自饮需求的普通用户，也有为节日礼赠准备的消费者，还有长期关注茅台 收藏价值的收藏者。北京消费者刘先生在经历三轮补货后成功下单12瓶，他表示："商务聚餐和家庭聚 会都需要用酒，i茅台的官方渠道保真且价格公道，比线下烟酒店便宜百余元。"重庆消费者张竞则选择 将抢购的茅台用于春节家庭聚餐，认为"与亲友分享喜悦比炒作更有意义"。 部分消费者将茅台视为收藏品。一位网友在社交平台分享称："抢到6瓶2026年飞天茅台，打算封存留待 日后升值。"这种收藏需求源于茅台酒"年份越久价格越高"的市场认知。例如，2019年飞天茅台在i茅台 平台标注价格为2649元/瓶，较2026年新品溢价1150元，进一步印证了茅台的收藏价值。 2026年1月1日上午9时，贵州茅台通过官方自营平台"i茅台"以1499元/瓶的指导价发售53度500ml飞天茅 台酒，引发全民抢购热潮。开售不到半小时，首批投放的茅台酒便被抢购一空，甚至出现"每5分钟补货 一次，每次库存30秒内秒空"的盛况。这场抢购大战不仅让"i茅台每人每日限购12瓶"的话题冲上热搜， 更引发网友对茅台"饥饿营销"的质疑。然 ...

跌跌不休的茅台，在2026年第一天，迎来了大结局。 1日，i茅台正式上架飞天53%vol 500ml贵州茅台酒，售价1499元。 本次主要上架的是2026年的新飞天茅台，2019-2024年的次新飞天仍未展开销售。 据《酒业内参》报道，本次投放从9点开始，每五分钟投放一次，每次仅不到30s便被清空。 媒体报道称，每日投放量会综合考虑防止炒作、供需适配和市场稳定确定，当日售完即止。此后，每日上午9时都将准点开售。业内分析认为，此举意味 着茅台营销体系正向市场化转型。 12月31日晚间，i茅台官微发布消息称，2026年1月1日起，53%vol 500ml飞天贵州茅台酒将正式在"i茅台"APP上架销售。 用户每日09:00可进入APP首页或"i购"频道购买，每人每日限购12瓶（两箱）。 "普通人根本抢不到！"社交平台上，许多网友发出遗憾的感慨。 长期以来，贵州茅台一直沿袭着计划经济和短缺经济下的"价格双轨制"模式来定价和销售，官方指导价与实际成交价经常存在价差。 在茅台专卖店，普通消费者很难买到正常价格的茅台酒产品。 而在二手交易平台，往往要花高溢价购买，最多时价差甚至一度高达2000元。这也导致茅台经销商囤货惜售 ...

新浪科技讯 12月25日下午消息，今日，《罗永浩的十字路口》第十五期上线，对话嘉宾是影石Insta360 创始人刘靖康。 当被问及是否遭遇过"产能地狱"事件，刘靖康表示，基本上我们后面有一些上市标准，就像日产能到多 少，综合良率到多少，备货多少才上市。就不会说现在产能没提上来就急着上市，产能爬坡有个过程， 因为每个项目难度不一样，它的过程和程度不一样，但是基本上有个标准，达到一定程度才会上市。 新浪科技讯 12月25日下午消息，今日，《罗永浩的十字路口》第十五期上线，对话嘉宾是影石Insta360 创始人刘靖康。 当被问及是否遭遇过"产能地狱"事件，刘靖康表示，基本上我们后面有一些上市标准，就像日产能到多 少，综合良率到多少，备货多少才上市。就不会说现在产能没提上来就急着上市，产能爬坡有个过程， 因为每个项目难度不一样，它的过程和程度不一样，但是基本上有个标准，达到一定程度才会上市。 刘靖康还提到，经常有人骂我们饥饿营销，因为扩产能它是需要一个时间的。然后就发现最后你供不上 货，你的消费者骂你。但是这算幸福的烦恼，总比有库存好。（罗宁） 责任编辑：何俊熹 刘靖康还提到，经常有人骂我们饥饿营销，因为扩产能它是需 ...

Core Viewpoint - The article discusses the competitive landscape in the outdoor retail market, focusing on the strategies of Sanfo Outdoor and the implications of Arc'teryx's recent decisions on its brand positioning and sales dynamics [4][19]. Group 1: Sanfo Outdoor's Strategy - Sanfo Outdoor has raised approximately 70 million yuan through a private placement, primarily to market the Swiss brand X-BIONIC [4]. - The pricing of X-BIONIC products is comparable to that of Arc'teryx, indicating a strategic move to capture a similar market segment [4]. - Sanfo Outdoor aims to replicate the success of Arc'teryx by positioning X-BIONIC as a new cash cow, especially after losing key partnerships with brands like The North Face and Arc'teryx [9][12]. Group 2: Arc'teryx's Market Position - Arc'teryx has lifted purchase restrictions on its Essentials series, allowing broader access to its products, which may lead to a temporary sales boost but risks diluting its brand exclusivity [9][23]. - The brand's recent performance shows a growth in revenue, but its specific segment is lagging behind competitors, raising concerns about sustaining growth [19]. - The decision to relax purchase restrictions could undermine the brand's high-end image and identity, which has been built on exclusivity [23][27]. Group 3: Financial Performance - Sanfo Outdoor's revenue from Arc'teryx has seen fluctuations, with contributions of 78.25 million yuan in 2021, 105 million yuan in 2022, and 108 million yuan in 2023, reflecting a decline in dependency on the brand [12]. - The financial outlook for Sanfo Outdoor shows a significant drop in net profit by 159% in 2024, indicating challenges in maintaining profitability amidst changing brand dynamics [12][16]. - X-BIONIC's revenue for the first nine months of 2025 reached 214 million yuan, marking a 34.62% increase, showcasing its potential as a key player for Sanfo Outdoor [15].

最近Labubu不再那么一盒难求。 文｜明晰野望 小编就在某书泡泡玛特官方直播间轻松买到了3.0、4.0两代盲盒。在一些潮玩直播间，Labubu不仅货源充足，溢价率更是大幅下降。 最火的时候，1.0Labubu常规款正品代拆的价格一度溢价到329元，2.0、3.0也达到239-299元不等。而现在，许多直播间里，Labubu价格已经降到129-179元 不等。在二手平台，Labubu 3.0及4.0常规款式的价格则已跌穿官方零售价。 这并不意外。Labubu扩产只是早晚的事。作为制造业大国，中国玩偶技术和产能从不稀缺。 德银在报告中指出，Labubu产能已经从今年上半年的每月1000万只拉升至年底的每月5000万只。 "饥饿营销"退潮的同时，泡泡玛特股价也出现了短期大幅波动，从今年8月时的339.8港元跌至最近的184.6港元，跌幅超过45%，四个月的时间市值蒸发了 2000亿港元。 泡泡玛特这么快就遇到天花板了吗？ 其实也不用太悲观。理由有二—— 第一，Labubu这波热潮不仅给泡泡玛特贡献了营收增长，更让泡泡玛特的品牌知名度在全球快速打响，为后续发展打下了地基。目前泡泡玛特在美国的线 下门店已经超过60家 ...

看到这则消息，禁不住让人想起《政治经济学》中讲到的故事，那就是资本家为了保住牛奶价格，宁可 将牛奶倒进海里，也不愿降价卖给穷人。 来源：谭浩俊财经视角 据人民财讯报道，12月13日，据中国酒业评论人肖竹青消息，贵州茅台于近期推出控量政策，涵盖短期 减负、中长期结构性改革两大维度。短期措施方面，2025年12月内，贵州茅台将停止向经销商发放所有 茅台产品（预付款已完成），直至2026年1月1日在适当时候恢复。 肖竹青分析，此举旨在年底经销商资金紧张时期，直接为经销商减负，防止经销商因偿还贷款或支付新 货款而出现恐慌性抛售行为。 中长期结构性改革方面，2026年，贵州茅台计划大幅削减非标产品配额，从源头减少使经销渠道利润缩 减的产品供应。 也许，从经营的角度考虑，是没错的。企业追求利润，是价值规律的体现，也是经营者必须充分考虑的 问题。但是，从市场的角度分析，茅台此举，似乎并不能达到目的，一定程度上，会让茅台的市场形象 受到很大影响。 茅台酒的价格出现较大幅度下跌，并不是因为市场出现了供过于求现象，从市场需求来看，仍然是严重 供不应求。按照市场的实际需求量，茅台酒厂提供的产品，不到市场需求的1/3，消费者能够买到 ...

2025年，暴富的捷径分两种：一种写在《刑法》里，一种藏在新能源订单里。 操作很简单，只需要你在新能源汽车开售时抢到一单，就能轻松躺赚5万以上，不仅合法，还没有任何成本，这不是什么赛博童话，而是真真实实发生在当 下的事情。 打开闲鱼，搜索极氪9X，就能发现不少人在转让订单，其中报价最低5万、最高9万，以该车46.59万元的起售价计算，溢价幅度超过20%。如果你能号召七 大姑八大姨一起来下订，手握十个订单，轻松到手90万。 图源：闲鱼 据新浪汽车报道，目前通过霍尔果斯、天津港等口岸出口的极氪9X，每台加价幅度均维持在5-10万元之间，主要流向欧洲和中东市场。 从极氪9X到小米YU7，从问界M9到理想MEGA，高端新能源车订单正在二手市场开启新的"造富运动"。卖家获取溢价，买家节省时间，车企收获热度，表 面三赢，实则一场击鼓传花的游戏已悄然开局。 订单加价转让这件事，成为了新能源时代的"独享moment"。 从"抢手机"到"炒车单"，饥饿营销进入车圈 十余年前，小米以"F码+1999元"模式开启了消费电子领域的饥饿营销时代。如今，这套逻辑被复制到汽车领域，对象从两千元手机变为数十万元的汽车， 等待周期从一周快递延 ...

Core Viewpoint - The article criticizes Xiaomi's marketing practices, particularly regarding its deposit system, which is perceived as misleading and exploitative towards consumers [1][10]. Group 1: Consumer Experience - Xiaomi's deposit of 5000 yuan is marketed as a "small deposit," but it effectively locks consumers into a non-refundable agreement after a 7-day hesitation period, which is seen as a form of coercive sales [3][9]. - The company failed to inform customers about the cessation of a subsidy program until the day the vehicle was delivered, creating a significant information asymmetry [6][15]. - Xiaomi's customer service is criticized for being overly procedural and lacking empathy, as it does not address consumer concerns adequately [7][13]. Group 2: Comparison with Competitors - Compared to competitors like Tesla and BYD, which have higher deposit amounts but clearer rules and proactive communication regarding policy changes, Xiaomi's approach is seen as deceptive [9][12]. - The article highlights that while Xiaomi promotes itself as transparent and sincere, its deposit mechanism is one of the least transparent aspects of its business model [10][19]. Group 3: Corporate Responsibility - The article argues that while consumers have a responsibility to stay informed, companies like Xiaomi have a greater obligation to communicate critical information proactively, especially regarding significant financial implications [15][17]. - Xiaomi's current operational philosophy is described as prioritizing efficiency and profit over genuine customer care, which undermines consumer trust [19][21].

Core Viewpoint - The article discusses the recent challenges faced by the tea brand Cha Bai Dao following the launch of its new product, Solid Mango Sago, which has been criticized for issues such as bundling sales and price increases amid performance pressures [2][10]. Product Launch and Sales Issues - The Solid Mango Sago gained significant attention, with reported sales of nearly 250,000 cups on its first day [4]. - However, customers have raised concerns about the product being set as "not available for single order" on delivery platforms, suggesting bundling sales practices [5][6]. - Many stores have shown the product as sold out, leading to accusations of "hunger marketing" [6][10]. Price Increase and Cost Pressures - The price of Solid Mango Sago was increased from 19 yuan to 22 yuan, with a promotional discount bringing the effective price to 21 yuan [9]. - The price hike is attributed to rising costs of key ingredients, particularly the Kate Mango, which has been in short supply [9][10]. Financial Performance and Strategic Adjustments - In the first half of 2024, Cha Bai Dao reported a revenue decline of 10% and a net profit drop of 59.7% compared to the previous year [11]. - The company has since seen a recovery, with total revenue reaching 2.5 billion yuan, a 4% increase year-on-year, and net profit rising to 333 million yuan, a 40% increase [11]. - Cost-cutting measures have included a reduction in R&D expenses and a decrease in employee numbers from 2,319 to 2,133 [11]. Store Expansion and Market Strategy - The pace of store expansion has slowed significantly, with only 59 new stores opened in the first half of 2024, compared to 1,431 new stores in the same period of 2023 [11][12]. - The company is focusing on optimizing store operations, resulting in a reduction of stores in first and second-tier cities while expanding in lower-tier markets [12]. - Cha Bai Dao has also begun to emphasize overseas expansion, opening 21 international stores in various countries [12][13].

Core Insights - The article highlights the prevalence of deceptive practices in live-streaming e-commerce, where false sales data and inventory levels are manipulated to create a sense of urgency among consumers [1][3][4] Group 1: Sales Manipulation - Many live-streaming sessions feature exaggerated sales figures and claims of limited stock, which are often fabricated to induce impulsive buying behavior among consumers [3][4] - Some live-streamers employ tactics such as "hunger marketing," where they create a false sense of scarcity to attract more viewers and potential buyers [3][4] Group 2: Industry Practices - The competitive nature of the live-streaming market has led to a culture of "data anxiety," where merchants feel pressured to inflate their sales figures to gain visibility on platforms [4][12] - A network of professionals has emerged, offering services to artificially boost live-streaming metrics, including fake interactions and inflated viewer counts [5][10] Group 3: Regulatory Response - Regulatory bodies have begun to take action against these deceptive practices, with significant penalties imposed on companies found guilty of manipulating sales data and engaging in fraudulent activities [13][14] - Major live-streaming platforms are enhancing their monitoring systems to detect and prevent fraudulent activities, including the use of AI and blockchain technology for better oversight [14][15]