Core Insights - The article emphasizes the importance of both external cycles and internal organization in determining a company's success, suggesting that understanding past actions is crucial for defining future outcomes [2][19] Group 1: Successful Companies in Favorable Conditions - Companies like Mixue Ice City thrive in a favorable environment characterized by industry benefits, strategic accuracy, and efficient execution, often referred to as "the right time, the right place, and the right people" [4] - Mixue Ice City's business model focuses on selling raw materials rather than franchise fees, resulting in the lowest opening costs among chain brands and achieving a gross margin and net margin that are among the highest in the new tea beverage industry [4] - The company's revenue is equivalent to the combined total of the second to fourth ranked competitors in the same sector, showcasing its unique profit model [4] Group 2: Companies Adapting to Market Changes - Pop Mart represents a contrasting approach, expanding globally rather than focusing on domestic market penetration, demonstrating a strong organizational capability to adapt to market demands [7] - The concept of "retail entertainment" is highlighted, indicating that companies must continuously innovate to remain relevant and capitalize on market opportunities [7] Group 3: Companies Facing Internal Challenges - Companies like Bottle Planet, known for its brand Jiangxiaobai, faced significant challenges due to a declining traditional liquor market but successfully pivoted to a "new liquor" strategy, launching new products to regain growth [8][9] - The implementation of the Danaher DBS model has been crucial for Bottle Planet's transformation, focusing on systematic improvements across various operational aspects [9][11] Group 4: Companies Struggling with Market Dynamics - Companies like Master Kong are experiencing external pressures from the rise of the takeout market, which has negatively impacted instant noodle sales, highlighting the challenges of adapting to changing consumer behaviors [16] - Three Squirrels, a former leader in the snack industry, struggles with an outdated business model and quality control issues, leading to significant revenue losses and a decline in market position [18]

Core Insights - The article discusses the importance of both external cycles and internal organization in determining a company's success or failure during different market conditions [1][2][3] - It presents a four-quadrant model to categorize companies based on their organizational strength and market cycles, illustrating how these factors interact to shape business outcomes [3][4] Quadrant Analysis Quadrant 1: Upward Cycle + Organizational Evolution - Companies like Mixue Ice City and Pop Mart thrive during industry booms due to strategic accuracy and efficient execution, benefiting from favorable market conditions [6][7] - Mixue Ice City's success is attributed to its low-cost model and 100% self-sourced supply chain, achieving high gross and net profit margins in the new tea beverage sector [10][11][12] - Pop Mart capitalizes on global expansion and market adaptability, demonstrating a keen understanding of market dynamics despite periods of lower visibility [14][15][16] Quadrant 2: Downward Cycle + Organizational Evolution - Companies such as Bottle Planet and Midea exemplify resilience in challenging environments, adapting their strategies to align with market demands [17][18] - Bottle Planet, known for its brand Jiangxiaobai, pivoted to a "new liquor" strategy to counteract declining traditional liquor sales, leading to renewed growth [20][21][24] - Midea's transformation into a technology ecosystem company, driven by a focus on organizational strength over individual leadership, has resulted in significant market value growth [26][27] Quadrant 3: Upward Cycle + Organizational Degeneration - Wahaha and Li Ning illustrate how poor organizational management can squander opportunities during favorable market conditions [28][29] - Wahaha's leadership struggles have hindered its ability to capitalize on the bottled water market, while Li Ning's missteps in brand strategy have led to significant market value decline [30][34][35] Quadrant 4: Downward Cycle + Organizational Degeneration - Companies like Master Kong and Three Squirrels face compounded challenges from external market pressures and internal management issues [37][38] - Master Kong's sales have declined due to the rise of food delivery services, while its strategies have failed to adapt effectively to changing consumer preferences [39][41] - Three Squirrels struggles with maintaining quality and adapting to market changes, resulting in significant revenue losses and competitive disadvantages [43][44] Conclusion - The analysis emphasizes that while market cycles are constant, the organizational structure and adaptability of a company are crucial for long-term survival and success [45][46][47]

Core Insights - The new perspective in the tea beverage industry has shifted from "expanding stores" to "operating quality stores," indicating a transformation from scale-oriented to efficiency-oriented strategies [1][2] - Bawang Chaji's "modern oriental tea" concept has carved out a niche market amidst competitors like Nayuki and Heytea, but product concentration risks are emerging as single products dominate sales [1][3] - The overall performance of the tea beverage sector is showing significant divergence, with brands like Mixue and Guming achieving substantial profit growth, while Bawang Chaji faces the largest decline in net profit [2] Company Performance - Bawang Chaji reported a revenue of 6.725 billion yuan, a year-on-year increase of 21.61%, but net profit fell by 38.22% to 755 million yuan, highlighting a challenge of increasing revenue without corresponding profit growth [1] - The average monthly sales per store decreased by 24.37%, and same-store GMV growth has been declining for six consecutive quarters [1] Market Dynamics - The tea beverage market is experiencing a saturation point in first- and second-tier cities, with an average decline of 18.7% in same-store sales for high-end tea brands priced above 15 yuan [4] - The competitive landscape is shifting towards a focus on supply chain efficiency and overall industry capability rather than just brand expansion [4][10] Strategic Positioning - Bawang Chaji's strategy of focusing on a few best-selling products has led to operational efficiencies, with logistics costs accounting for less than 1% of total GMV, significantly lower than the industry average of 2% [3] - The brand's high-end positioning and cultural elements have created a distinct market identity, but it still faces challenges in achieving brand loyalty and cultural acceptance compared to global competitors like Starbucks [5][7] Global Expansion Challenges - Bawang Chaji's overseas GMV grew by 77.37%, but its overall contribution to performance remains limited, indicating that the brand has not yet fully established its global supply chain capabilities [6] - The company faces multiple challenges in international markets, including cultural differences, supply chain logistics, brand recognition, and pricing strategies [11] Industry Evolution - The tea beverage industry has undergone several phases, transitioning from rapid expansion to a focus on refined operations, with the current phase characterized by intense competition for market share rather than mere growth [8][10] - The industry's demand has evolved from a simple preference for taste to a complex set of expectations including aesthetics, health, and social aspects [10]

Core Viewpoint - The article discusses the contrasting performance of the tea beverage brand Mixue Ice City, highlighting its strong financial results amidst challenges posed by rising lemon prices and competitive pressures in the market [3][4][11]. Financial Performance - Mixue Ice City reported a revenue of 14.87 billion yuan and a net profit of 2.72 billion yuan for the first half of 2025, outperforming competitors like Bawang Tea and Guming [3]. - Forecasts suggest that Mixue's revenue could reach 29.7 billion yuan in 2025, reflecting a steady growth of 20% year-on-year [3]. Supply Chain and Raw Material Challenges - The brand's success is attributed to its robust supply chain and competitive pricing, particularly for its lemon-based products, which account for 15%-20% of its revenue [4][7]. - Extreme weather conditions have severely impacted lemon production, with some regions experiencing a yield reduction of 30%-60%, leading to a surge in wholesale lemon prices to 15 yuan per kilogram, nearly doubling year-on-year [7][9]. Competitive Landscape - Mixue Ice City faces significant pressure from competitors who primarily use a different variety of lemon (fragrant lemon), which has not seen the same price increases as the yellow lemon used by Mixue [9][10]. - The ongoing "takeout war" has eroded Mixue's price advantage, as competitors offer substantial discounts, making it challenging for Mixue to maintain its market position [12]. Strategic Responses - In response to the lemon crisis, Mixue has diversified its product offerings by incorporating fragrant lemons into new products, thereby alleviating some supply chain pressures [10][11]. - The brand is leveraging its IP, "Snow King," to enhance customer engagement and loyalty through innovative marketing strategies, including blind box promotions and emotional branding [13][15]. Expansion into New Markets - Mixue is expanding into new product categories, including coffee and fresh beer, to capture a broader consumer base and diversify its revenue streams [18][21]. - The launch of its coffee brand, "Lucky Coffee," has seen rapid expansion, with over 8,200 locations globally, and aims to penetrate first-tier cities [19][21]. Conclusion - The challenges posed by rising lemon prices and competitive dynamics have prompted Mixue Ice City to adapt its strategies, focusing on emotional branding, product diversification, and market expansion to sustain its growth trajectory [21].

Core Insights - New tea beverage brands are leveraging "receipt literature" as a marketing strategy to engage younger consumers, with brands like Mixue Ice City and Jasmine Milk White creating serialized stories on their receipts to enhance customer interaction and brand visibility [3][4][10] Group 1: Marketing Strategies - Mixue Ice City launched a serialized novel titled "The Snow King Sells Coffee in Ancient Times," which features a time-traveling narrative and has generated significant consumer interest and engagement on social media [4][5] - Jasmine Milk White's "White Moonlight" narrative employs a dramatic and engaging style, resonating with younger audiences and creating a strong brand identity [8][10] - Both brands incorporate interactive elements, inviting consumers to contribute to story endings, thus fostering community engagement and emotional connection with the brand [14][24] Group 2: Consumer Engagement - The trend of "receipt literature" reflects a shift in consumer preferences, with 67% of young consumers showing resistance to traditional advertising while over 80% are open to interactive and entertaining content [3] - Consumers are actively participating in the narrative by sharing and exchanging receipt stories, which enhances brand loyalty and encourages repeat purchases [4][14] - The marketing approach of using receipts as storytelling platforms allows brands to transform mundane transaction documents into engaging narratives, effectively capturing consumer attention [17][24] Group 3: Brand Positioning - Jasmine Milk White positions itself as a high-end, elegant brand, contrasting with the more playful and humorous tone of Mixue Ice City's marketing, which helps create memorable brand experiences [10][12] - The success of "receipt literature" varies among brands, with some like K22 and Tea Yan Yue Se receiving negative feedback for their less engaging narratives, highlighting the importance of aligning marketing strategies with consumer expectations [17][21] - The competitive landscape in the new tea beverage sector drives brands to innovate in their marketing tactics, with "receipt literature" serving as a novel approach to stand out in a crowded market [24]

北京商报讯（记者 郭缤璐）随着全国多地迎来一轮降温天气，新茶饮品牌陆续推出适合热饮的秋冬季 新品。10月17日，北京商报记者从茶百道了解到，其近日宣布秋冬季传统人气产品"超厚芋泥"系列正式 回归，上新首日即售出近20万杯，在北京、吉林等北方地区尤为受欢迎。 除了在线下门店高频亮相，在社媒平台上，消费者对芋泥的讨论度也在持续升温。截至发稿，小红书上 关于芋泥的话题有近14亿次浏览量，相关讨论量超过400万，仅话题词#芋泥脑袋#的浏览量就达到8.5 亿，"谁家芋泥产品更好喝"成为网友们的讨论热点。 茶百道相关负责人表示，"超厚芋泥"系列产品已成为全国销冠，考虑到往年的消费者反馈，今年特意在 制备工艺中加入切丁工序，使芋泥中保留芋头颗粒，消费者在饮用时可以获得类似吃现蒸芋头的咀嚼感 和浓厚口感。 ...

Core Insights - The new tea beverage brands are launching autumn and winter seasonal products, with a focus on hot drinks like taro-based beverages, which have gained popularity among consumers as temperatures drop [1][3] - The "Super Thick Taro" series from Cha Bai Dao has seen significant sales, with nearly 200,000 cups sold on its first day of launch, particularly favored in northern regions like Beijing and Jilin [1][3] - Social media discussions around taro products have surged, with nearly 1.4 billion views on Xiaohongshu and over 4 million discussions, indicating a strong consumer interest [1] Company Insights - Cha Bai Dao's "Super Thick Taro Milk Green" and "Super Thick Taro Milk Tea" utilize different tea bases to cater to diverse consumer preferences, featuring high-quality taro from Fujian and rich dairy ingredients for enhanced flavor [3] - The "Super Thick Taro" series has become a national best-seller, with modifications in preparation to include diced taro, providing a unique texture that appeals to consumers [3] - The trend of introducing taro products earlier in the season aligns with the current consumer preference for rich, creamy beverages, reflecting a shift in market strategy among tea brands [3]

Core Insights - The new tea beverage market is shifting focus from taste to health, with leading brands like Hu Shang A Yi and Cha Bai Dao launching health-oriented product lines to capture high-value growth opportunities in a competitive landscape [1][5][6] Group 1: Market Trends - The emergence of "health tea" reflects a growing consumer awareness of health, with terms like "anti-sugar," "low-calorie," and "functional foods" gaining traction, particularly among young female consumers [5][6] - Social media discussions around "health tea" and "natural beauty water" indicate a strong market demand for healthier beverage options [5] Group 2: Product Innovations - Hu Shang A Yi's new "light health" series incorporates traditional health ingredients into freshly made tea, while Cha Bai Dao's "light series" emphasizes low sugar and functional additives like collagen and probiotics [4] - Other brands, including Shu Yi Shao Xian Cao and Gu Ming, are also enhancing their menus with health-focused labels, indicating a significant shift towards health-oriented products [4] Group 3: Competitive Dynamics - The competitive logic in the new tea beverage industry is evolving from a focus on taste and speed of new product launches to emphasizing ingredient value and consumption scenarios [6] - Brands are now investing in ingredient sourcing, scientific formulation, and even involving nutrition consultants in product development to establish consumer confidence in sustainable consumption [6]

Core Insights - The emergence of a new "tipsy" trend in the domestic consumption market is driven by the blending of daytime tea drinks and nighttime alcoholic beverages, with brands like Cha Baidao and Tea Yan Yue Se leading the charge into this crossover market [2][4] Group 1: Market Trends - The return of Cha Baidao's classic liquor milk tea has achieved impressive sales, with nearly 120,000 cups sold on the first day, indicating strong consumer interest in tea-alcohol fusion products [3][4] - The market for craft beer is rapidly growing, with projections suggesting it will exceed 100 billion yuan by 2025, providing an attractive crossover opportunity for tea brands [4] Group 2: Consumer Preferences - Younger consumers are increasingly favoring light, low-alcohol beverages, which aligns well with the offerings of new tea drinks, creating a synergy between the two markets [4][5] - The pricing strategy for these new products is aimed at being accessible, with most items priced between 15 to 25 yuan, lowering the barrier for consumers to try these innovative drinks [3] Group 3: Business Strategies - The success of the "tea + alcohol" model requires a shift from mere product mixing to deeper scene-based operations, enhancing user engagement through community-focused experiences [5] - Brands are encouraged to innovate continuously and ensure product quality to transform this trend from a temporary market phenomenon into a sustainable business model [5]

Core Insights - The autumn season has traditionally been a peak sales period for milk tea, with the recent National Day and Mid-Autumn Festival holidays driving significant sales growth for new tea brands [1] - New tea brands are experiencing remarkable sales increases, with some locations seeing growth exceeding 2000% during the holiday period [1] Sales Performance - Tea brand Cha Bai Dao reported that many of its stores nationwide saw sales increase by over 1000% during the holiday [2] - Different regions showed varying preferences for tea types, with fresh fruit tea being more popular in Jiangsu, Guangdong, and Jiangxi, while fresh milk tea was favored in Sichuan, Hubei, and Shandong [2] - Lesser-known tourist destinations have gained popularity, with cities like Jiayuguan and Bayannur entering the top ten for sales growth during the holiday [2] Transportation Hubs - The integration of commerce and transportation has transformed transport hubs into comprehensive "travel supply stations," leading to significant sales increases for stores located in airports, high-speed rail stations, and service areas [2] - Cha Bai Dao reported that sales at its stores in transportation hubs nearly doubled during the holiday, with one store in Xingtai, Hebei, seeing a 700% increase in daily revenue compared to previous periods [2] Brand Expansion - Sweetlala reported a sales increase of over 50% across its stores nationwide from October 1 to 7, with key regions like Anhui and Hebei seeing growth exceeding 137.7% [3] - Nai Xue's Tea has recently opened its first store in the U.S. in Flushing, New York, achieving a remarkable revenue of approximately $87,000 (around 620,000 RMB) in its first three days, setting a record for new store openings [3]