Core Viewpoint - The article discusses the current trends in the franchise market, highlighting a shift from rapid expansion to a focus on sustainability and profitability in the food and beverage industry, particularly in the context of the recent franchise exhibition [5]. Group 1: Decline in Beverage Franchise Participation - The number of beverage brands, particularly tea and coffee, participating in exhibitions has significantly decreased, with only four tea brands present compared to nearly fifteen in previous events [7]. - This decline reflects the tea industry's transition from rapid growth to a phase of deep adjustment, as competition intensifies and market saturation increases [8]. - Franchisees are facing challenges such as reduced customer dine-in rates and increased operational costs, leading some to exit the tea beverage sector altogether [10][11]. Group 2: Stability in Snack and Fast Food Franchises - In contrast to the beverage sector, snack and fast food franchises remain dominant, accounting for over 50% of exhibitors, with average customer prices between 15-30 yuan and investment returns expected within 12-18 months [13]. - The snack and fast food sector is characterized by its essential demand and high cost-effectiveness, with a market size projected to exceed one trillion yuan in 2024, growing by 7.5% year-on-year [13]. - Many franchisees are shifting from high-investment sectors like hot pot and barbecue to snack and fast food for more stable returns [16]. Group 3: Rise of Affordable Self-Service Barbecue - A noticeable trend is the emergence of affordable self-service barbecue brands, which have gained popularity due to the rising "value-for-money" consumption mindset [18][19]. - Despite the growing interest, self-service barbecue faces operational challenges, including limited profit margins and high demands for effective cost management [20][21]. Group 4: Decreasing Brand Worship - There is a diminishing trend of franchisees being attracted solely by well-known brands, as the perception that a big brand guarantees success is being challenged [24][25]. - Higher initial investments associated with top brands are leading franchisees to consider alternative, less costly options that offer quicker returns and greater operational flexibility [26]. Group 5: Cost Reduction Strategies - Many brands are adopting strategies to lower initial investment costs for franchisees, such as allowing self-renovation and reusing equipment, which can save over 200,000 yuan in setup costs [27][29]. - The traditional model of high upfront franchise fees is being replaced by more flexible arrangements, focusing on revenue sharing and stable supply chain profits [29]. Conclusion - The franchise market is shifting towards a more calculated approach, prioritizing the sustainability of individual stores and realistic return timelines over impulsive investments and rapid expansion [31].

财报电话会上，公司高管透露今年4月，霸王茶姬在东南亚推出的"谷香焙茶"(Hojicha Genmai Milk Tea) 成为现象级爆款，不仅获得消费者热烈反响，更助力品牌登上东南亚茶饮品牌声量榜榜首。特别是在马 来西亚市场，产品上市两周内主要城市即告售罄。 本报讯(记者李静)9月18日，记者获悉，霸王茶姬即将迎来其在马来西亚的第200家门店。从马来半岛南 部(西马)的吉隆坡、马六甲，到加里曼丹岛北部(东马)的亚庇、古晋，霸王茶姬已经在马来西亚的主要 城市有所布局。 2025年8月底公布的霸王茶姬第二季度财报显示，其海外市场GMV达到人民币2.352亿元，同比增长 77.4%，环比增长31.8%。其海外市场展现出强劲增长动能，已逐步成为驱动公司整体增长的重要引 擎。 东南亚是霸王茶姬重点布局的海外市场。根据公开信息，霸王茶姬已进入马来西亚、新加坡、泰国、印 度尼西亚、越南和菲律宾市场。另外，公司还在今年5月首次进入北美市场，在美国洛杉矶开出了首 店。近期，美国第二家门店也在洛杉矶县托伦斯市开业，选址全美前十大商场——德尔阿莫时尚中心 (Del Amo Fashion Center)。 ...

Core Viewpoint - The entry of tea beverage companies into the coffee market has intensified the price war, with prices for coffee products being significantly lowered, indicating a shift in consumer perception of coffee from a premium product to an everyday beverage [1][3][14] Group 1: Market Dynamics - Tea beverage companies like Cha Bai Dao and Gu Ming have launched coffee products at prices as low as 4.9 yuan, breaking the previous price floor of 9.9 yuan [1][3] - The coffee market is experiencing a price war as major brands adopt aggressive pricing strategies to capture market share [3][14] - The introduction of coffee by tea brands is seen as a response to declining profit margins in the tea beverage sector, with companies seeking new growth avenues [11][12] Group 2: Pricing Strategies - Cha Bai Dao's coffee products are priced at a minimum of 6.9 yuan, while Gu Ming offers coffee starting at 4.9 yuan, showcasing a significant reduction in prices [1][7] - The pricing strategies of both companies are supported by substantial promotional discounts, with Cha Bai Dao offering 19.1 billion yuan in limited-time coupons [4][12] - The competitive pricing is further enhanced by external factors such as delivery platform subsidies, making coffee even more accessible to consumers [13][14] Group 3: Industry Trends - The rapid expansion of coffee offerings by tea brands is part of a broader trend where companies are diversifying their product lines to include coffee, driven by the need to adapt to changing consumer preferences [11][12] - The coffee market in China is still growing, with per capita coffee consumption increasing from 7 cups five years ago to approximately 22 cups currently, indicating significant potential for further growth [12] - The entry of tea brands into the coffee market is expected to reshape consumer expectations and redefine the acceptable price range for coffee products [14][15]

Core Insights - The competition in the Chinese tea beverage market is intensifying, with brands facing the common challenge of seeking new growth opportunities amidst a multi-dimensional competitive landscape in terms of taste, variety, and marketing strategies [1] - Asian consumers are increasingly looking for a more comprehensive value proposition beyond just taste, including multi-dimensional experiences, health benefits, functional advantages, and emotional resonance [1] Group 1: Experience Upgrade - Consumers are now prioritizing the entire experience from discovery to consumption, rather than just the product itself [2] - In Japan, offline retail provides an unparalleled experience, contributing to a lower e-commerce penetration rate of about 15%, which is slowing down [2][9] - South Korean consumers heavily rely on social media, with a projected penetration rate of 94% by 2025, making products that are visually appealing and shareable more likely to gain exposure [9][10] - Southeast Asian consumers are open to new ideas and willing to spend on innovative products, creating a favorable environment for market entry [10] Group 2: Health-Conscious Consumption - The demand for healthier beverage options is rising, with "good taste without burden" becoming a crucial decision factor for consumers [11] - The share of sugar-free carbonated drinks is increasing across countries, with Singapore leading at 60%, while Japan and South Korea exceed 40% [11] - Governments in countries like Thailand and Malaysia are implementing "sugar taxes" to encourage the development of low-sugar and low-calorie products [19] Group 3: Functional Benefits - Asian consumers are increasingly seeking beverages with additional functional benefits [20] - Japan leads in the functional beverage sector, with a government initiative allowing brands to claim health benefits without extensive approval, significantly shortening product launch times [20] - In South Korea, the energy drink market has seen an annual growth rate of 18% over the past five years, driven by high demand for energy-boosting products [30] Group 4: Emotional Value - The need for emotional management is growing, with many consumers seeking beverages that provide comfort and relaxation [31] - Low-alcohol beverages are gaining popularity in Japan and South Korea as a means to alleviate stress, while drinks containing calming ingredients like GABA are increasingly available [31][38] Group 5: Cultural Roots - Different Asian countries have distinct tea drinking traditions that shape consumer preferences [39] - Japanese consumers prefer pure teas with no additives, while consumers in Southeast Asia favor sweeter, richer flavored teas [39] - Understanding and respecting local tea culture differences is essential for product development [39] Conclusion - The Asian beverage market is complex, exhibiting both common trends and significant local differences. Brands must deeply understand cultural nuances and consumer mindsets to identify strategic entry points that align with local demands [40]

Group 1: Starbucks China Business Sale - The sale of Starbucks' China business is nearing completion, with potential bidders including Boyu Capital, Carlyle Group, EQT, and Sequoia China, with a decision expected by the end of October [1] - The bidders are all financial investors, following the precedent set by McDonald's China sale, but local consumer giants may have better operational experience and financial strength [1] - The potential for local consumer giants, such as Alibaba, Meituan, Tencent, and Haidilao, to take over Starbucks China is highlighted, suggesting they could be more suitable buyers [1] Group 2: Haidilao's Position - Haidilao, despite being a hotpot chain, shares a similar business core with Starbucks as both operate social spaces rather than just food service [2] - Haidilao's recent business expansion efforts, including selling bread and launching community stores, indicate its evolution into a "startup incubator" [3] - The need for growth is pressing for Haidilao, as its revenue and net profit declined in the first half of 2025, with a revenue of 20.703 billion yuan, down 3.7% year-on-year [5] Group 3: Market Dynamics - The overall restaurant consumption market is experiencing a downturn, affecting high-ticket items like hotpot, while new tea drinks are thriving [6] - New tea drink brands have seen significant growth, with companies like Gu Ming and Mi Xue Ice City going public and achieving high stock price increases [6] - Haidilao's attempts to create new brands have not yet achieved significant scale, with other restaurant income only contributing 2.9% to total revenue [6] Group 4: Strategic Opportunities - The sale of Starbucks presents Haidilao with an opportunity to quickly enter the tea drink market, leveraging Starbucks' established brand and store network [12] - Haidilao's strengths in local innovation and commercial real estate negotiations could address Starbucks' current challenges, such as rising rental costs and competition [4] - The combination of Haidilao and Starbucks could enhance negotiation power in commercial real estate, potentially leading to better lease terms and store placements [15] Group 5: Challenges in Acquisition - The estimated valuation for Starbucks' China business is between $5 billion and $6 billion, which poses a significant financial challenge for Haidilao [16] - Haidilao would likely need to form a consortium with financial investors to complete the acquisition, complicating decision-making due to a fragmented ownership structure [17] - Starbucks' management desires to retain brand control while selling a majority stake, which may conflict with Haidilao's operational ambitions [17][18]

本报讯 （记者李静）近期，喜茶推出的首款瓶装超级植物茶产品"羽衣甘蓝青瓜"持续引发消费热潮。 这款全新的瓶装产品灵感源自喜茶门店的超级植物茶系列，延续了喜茶超级植物茶健康好喝的产品体 验。羽衣甘蓝青瓜产品不仅使用了喜茶定制的羽衣甘蓝和青瓜原料，还添加了2种膳食纤维，以及喜茶 经典绿妍茶叶和抹茶，创新研发带来健康加倍的瓶装超级植物茶体验。羽衣甘蓝青瓜上新以来深受消费 者喜爱，快速成为山姆酒水饮料品类新品销量第一名。 喜茶首款瓶装超级植物茶成山姆爆款 为了让更多消费者随时随地都能体验到健康好喝的超级植物茶，喜茶推出了首款瓶装超级植物茶产品 ——羽衣甘蓝青瓜。2024年，喜茶在门店首创推出羽衣纤体瓶、去火纤体瓶等超级植物茶系列现制产 品，为消费者带来了更健康的茶饮体验，带动超级植物茶成为行业最热门的产品品类。喜茶在这些门店 现制产品的灵感基础上，推出了瓶装超级植物茶。 为了带来好喝的瓶装超级植物茶产品，延续门店现制产品的风味，喜茶通过不断地测试和调整产品配 方，使用羽衣甘蓝搭配青瓜，并添加喜茶经典绿妍茶叶和抹茶，带来了入口轻盈多汁、茶香回甘的风味 体验。不同于市场上同类型产品单纯以果蔬汁为原料，喜茶这种"超级植物+ ...

Group 1 - The franchise exhibition serves as an important window for entrepreneurs to observe industry trends and seek investment opportunities [1] - The number of exhibitors in the beverage sector, particularly tea and coffee brands, has significantly decreased, reflecting a shift from rapid expansion to deep adjustment in the tea beverage industry [2][4] - Major tea brands are tightening policies, with some franchisees choosing to exit the tea beverage sector due to high competition and low profitability [8][10] Group 2 - In contrast to the contraction in the beverage sector, the snack and fast food segment remains dominant, accounting for over 50% of exhibitors, with a focus on low investment and quick returns [11][12] - The snack and fast food market is projected to exceed 1 trillion yuan in 2024, with a year-on-year growth of 7.5%, making it the second-fastest growing segment in the restaurant industry [13] - Many franchisees are shifting from high-investment categories like hot pot and tea beverages to the snack and fast food sector for more stable returns [17][19] Group 3 - A noticeable trend at the exhibition is the rise of affordable self-service barbecue brands, driven by the growing "value-for-money" consumption mindset [20][22] - The self-service barbecue segment has seen a significant increase in popularity, with related search terms on social media platforms rising by 115.51% year-on-year [23] - However, operational challenges exist, including high food waste and the need for stable customer flow, which can impact profitability [25][28] Group 4 - The perception of "brand worship" is diminishing, with franchisees no longer willing to pay a premium for well-known brands, recognizing that a big name does not guarantee profitability [29][31] - High initial investments associated with major brands are leading franchisees to consider alternative, lower-cost options that offer quicker returns and greater operational flexibility [32][34] Group 5 - There is a growing consensus among brands to reduce initial investment costs for franchisees, with many adopting strategies to lower franchise fees and support the reuse of existing equipment [35][37] - Flexible fee structures are emerging, with some brands significantly reducing upfront franchise fees and focusing on revenue-sharing models [39][40] - The overall market trend is shifting from impulsive investments to calculated operations, emphasizing the sustainability and profitability of individual stores [42]

Core Viewpoint - The return of the classic drink "Drunk Step on the Road" by the tea brand Cha Baidao, in collaboration with Luzhou Laojiao, highlights the growing trend of combining traditional liquor with modern beverages, catering to the increasing demand from younger consumers for a "slightly tipsy" experience [1][3][5] Group 1: Product Launch and Features - "Drunk Step on the Road" achieved nearly 120,000 cups sold on its first day of re-launch [1] - The drink combines real Luzhou Laojiao liquor with milk tea, maintaining a focus on quality by using genuine liquor in each cup [3] - Each serving contains approximately 3 grams of white liquor, with a total caloric content of about 174 kilocalories, appealing to health-conscious consumers [3] Group 2: Market Trends and Consumer Insights - The Chinese liquor industry report indicates that over 60% of liquor consumption is now driven by the younger demographic, particularly those aged 18-35 [5] - The rise of the "slightly tipsy economy" reflects a shift in consumer preferences, with Cha Baidao's reintroduction of "Drunk Step on the Road" aligning with these market trends [5] - The management emphasizes the importance of effective new product launches and lifecycle management of classic products, leveraging supply chain advantages to balance quality and cost [5]

9月18日，霸王茶姬即将迎来其在马来西亚的第200家门店。从马来半岛南部（西马）的吉隆坡、马六 甲，到加里曼丹岛北部（东马）的亚庇、古晋，霸王茶姬已经在马来西亚的主要城市有所布局。 有消息显示，今年5月，霸王茶姬在马来西亚与酒店业巨头联大集团达成战略合作，计划在马来西亚开 出更多家门店。联大集团是一家上市公司，在马来西亚管理多家高端酒店，其业务还包括度假区开发 等。 为庆祝200店开业，霸王茶姬马来西亚公司向马来西亚自然协会捐助5万令吉（约合人民币8.5万元）。 该资金将用于两个项目：马来貘食物银行计划以及马来貘迁移箱计划。马来貘是马来西亚国宝，但已经 濒临绝种。前者将为获救马来貘提供食物，后者将为马来貘迁移出高风险区域提供安全运输设备——数 据显示，在2020年至2024年，有112只马来貘在公路上遭车辆撞击而亡。 8月，霸王茶姬在马来西亚推出新品"印山抹青"，是霸王茶姬与马来西亚国家纺织博物馆共同推出的系 列活动中的一环。 同时在北美市场，霸王茶姬也取得了新的进展——北美第二家门店已正式开业。这家霸王茶姬门店位于 美国洛杉矶县的商场德尔阿莫时尚中心。按占地面积来算，该购物中心是全美前十大购物中心。霸王茶 ...

在8月底发布第二季度财报时，霸王茶姬还宣布新聘Emily Chang为北美首席商务官，Aaron Harris为北 美首席发展官。他们都曾在多家上市公司担任重要职位。Emily Chang曾担任全球广告传播集团WPP旗 下VML西部分公司首席执行官。在此之前，她还曾担任麦肯世界集团中国区首席执行官、星巴克中国 首席市场官以及洲际酒店集团首席商务官。Aaron Harris则深耕于餐饮行业，他曾在荷兰兄弟咖啡 (Dutch Bros Coffee)担任高级开发副总裁。在此之前，他曾担任连锁餐饮公司Popeye's Louisiana Kitchen 的开发副总裁及AH 咨询公司的所有者兼经营者。 2025年，霸王茶姬在美国市场动作不断。公司先是于4月在纳斯达克上市，5月即开出了位于洛杉矶市的 美国首店，开业首日售出超过5000杯茶饮。 9月12日，霸王茶姬北美第二家门店开业，受到当地居民欢迎。开业期间，早晨8点半现场就有超过100 人排队。 这家霸王茶姬门店位于美国洛杉矶县的商场德尔阿莫时尚中心(Del Amo Fashion Center)，那里是当地居 民日常到访的消费场所。按占地面积来算，该购物中心是全美 ...