Core Viewpoint - The article discusses how Lao Gan Ma, a well-known Chinese chili sauce brand, has managed to achieve significant revenue growth without engaging in typical marketing strategies like social media operations and live streaming, contrasting with other brands that are heavily investing in these areas [4][5][29]. Revenue Recovery - Lao Gan Ma's sales revenue reached 5.391 billion yuan in 2024, nearing its historical peak of 5.403 billion yuan in 2020 [5][12]. - The brand experienced a revenue drop of 20% in 2021, falling to 4.201 billion yuan, attributed to the pandemic's impact on offline consumption [7][9]. - From 2022 to 2024, Lao Gan Ma's revenue steadily increased from 5.26 billion yuan to 5.391 billion yuan, alleviating market concerns [12]. Marketing Strategy - Unlike many brands that focus on live streaming and social media marketing, Lao Gan Ma has adopted a "laid-back" approach, relying on natural consumer repurchase for online sales [5][14]. - The brand has ceased regular updates on its social media accounts, with the last posts dating back to March 2022 for WeChat and February 2025 for Douyin [15][16]. - The decision to minimize marketing efforts may stem from the high costs and low returns associated with live streaming and e-commerce channels [17]. Product Development and Innovation - Despite the lack of marketing noise, Lao Gan Ma continues to develop new products and expand into overseas markets, with significant growth in international sales [6][18]. - The brand has successfully entered 160 countries by 2024, with a 30% year-on-year growth in overseas markets [18][19]. - Lao Gan Ma has introduced over 20 new products since 2020, including various chili sauces, although its product innovation has not aligned with the rising demand for healthier options in the domestic market [25][28]. Competitive Landscape - Other brands like Fuling Mustard and Zhongjing Foods have faced challenges in maintaining revenue growth post-pandemic, highlighting the competitive pressures in the condiment market [10][11]. - The pricing strategy for Lao Gan Ma's products is constrained by competition, with many brands operating within a similar price range, necessitating a focus on volume sales [26][27]. - The emergence of new brands in the chili sauce category has led to a diversification of product offerings, but Lao Gan Ma remains a leading name internationally [19][24].

Core Viewpoint - Lao Gan Ma has successfully returned to peak revenue levels despite a challenging market environment, demonstrating a unique strategy of minimal marketing and a focus on product quality and overseas expansion [6][10][26]. Group 1: Revenue Recovery - In 2024, Lao Gan Ma's sales reached 5.391 billion yuan, nearing its historical peak of 5.403 billion yuan in 2020 [6][10]. - The company experienced a significant revenue drop of 20% in 2021, attributed to the pandemic's impact on offline consumption [10][13]. - From 2022 to 2024, Lao Gan Ma's revenue steadily increased from 5.26 billion yuan to 5.391 billion yuan, alleviating market concerns [17]. Group 2: Marketing Strategy - Lao Gan Ma has adopted a "lying flat" approach, avoiding regular live streaming and influencer marketing, relying instead on natural consumer repurchase [6][19]. - The company has ceased updates on its social media accounts, with the last posts dating back to 2022 [19]. - Despite the lack of marketing activity, Lao Gan Ma's revenue has continued to grow, indicating a successful product strategy [20][26]. Group 3: Product Development and Market Expansion - The company has not halted new product development and has made significant strides in expanding its overseas market presence, reaching 160 countries by 2024 [20][21]. - Lao Gan Ma's overseas market grew by 30% in 2023, driven by increasing popularity on social media platforms [21]. - The brand has diversified its product line, introducing over 20 new products since 2020, including hot pot base and spicy fermented tofu [23][24]. Group 4: Competitive Landscape - Other brands like Fuling Mustard and Zhongjing Foods have faced challenges in maintaining growth, highlighting the competitive pressures in the condiment market [15][16]. - The pricing strategy in the condiment market has been constrained, with traditional brands like Lao Gan Ma and Zhongjing Foods operating within a price range of around 10 yuan [24]. - New entrants in the market are focusing on health trends, such as low-fat products, which Lao Gan Ma has yet to fully embrace [25].

Core Viewpoint - The article discusses the contrasting performance of two consumer brands from Guizhou, Moutai and Lao Gan Ma, highlighting Lao Gan Ma's revenue recovery amidst a consumer downgrade environment, while Moutai experiences price declines. Group 1: Lao Gan Ma's Revenue Performance - Lao Gan Ma's sales in 2024 reached 5.391 billion yuan, nearing its historical peak of 5.403 billion yuan in 2020 [2] - After a significant revenue drop of 20% in 2021 to 4.201 billion yuan, attributed to the pandemic's impact on offline consumption, Lao Gan Ma's revenue has been on the rise since 2022 [3][4][7] - The company has maintained a steady revenue recovery from 5.26 billion yuan in 2022 to 5.391 billion yuan in 2024, alleviating market concerns [7] Group 2: Marketing Strategy and Consumer Engagement - Lao Gan Ma has adopted a "laid-back" marketing strategy, with minimal engagement on social media and no regular live streaming, relying instead on natural consumer repurchase [2][9] - Despite the lack of marketing activity, Lao Gan Ma's revenue growth continues, indicating a strong brand loyalty among consumers [8][11] - The company has shifted focus to overseas markets, expanding from 90 countries in 2019 to 160 countries by 2024, with a 30% growth in overseas market sales in 2023 [11][12] Group 3: Product Development and Market Position - Lao Gan Ma has not ceased product development, with ongoing efforts to innovate and expand its product line, including over 20 new products by 2020 [6][15] - The brand remains a leading Chinese condiment in international markets, benefiting from social media popularity and diverse usage among foreign consumers [12][13] - Despite the emergence of new brands in the domestic market, Lao Gan Ma's established presence and product familiarity continue to drive its sales [16][17]