在过去起码十年时间中，批发市场在美妆零售的长链条中，干的都是"脏活累活"。 文｜未来迹FBeauty 作为闻名全国的商品批发中心，武汉汉正街在上世纪创造了数不清的财富故事，是美妆日化、服饰杂货及各类小商品的重要线下集散地。 《FBeauty未来迹》走访发现，这条百年老街上的美妆批发商们，正试图激荡变局中找寻新的活法和新的价值。而这，也是整个美妆产业生态深度变革的时 代注脚。 武汉汉正街：和主播"联姻"，与CS店"分手" 他们一边上接品牌方、经销商、代工厂，以低价、灵活、丰富的供货优势承担着美妆线下零售"毛细血管"功能；另一边也因窜货、水货、假货等"灰色操 作"成为整个零售链条最不受人待见的一环。 当下，批发市场仍然承担"蓄水池"与"中转站"的双重功能。 "诸多品牌面临产能过剩与市场需求不匹配的困境，当电商渠道或代理商出现货品滞销时，必然需要寻找新的流通出口，而批发市场正是最核心的承接 方。"对于批发市场的价值，山西普丽生联合创始人张黑只告诉《FBeauty未来迹》："其本质从未改变——依靠价差盈利的生意场。" 但有所变化的是，随着零售市场结构进一步扁平，美妆批发生意也随之转型： 上游端，由于国际名品"无利可图 ...

Core Viewpoint - The article highlights the transformation of the beauty wholesale market in Wuhan's Han Zheng Street, emphasizing the search for new business models and value amidst significant changes in the beauty industry ecosystem [2][5]. Group 1: Current Market Dynamics - The wholesale market has traditionally handled the "dirty work" of the beauty retail chain, acting as a crucial link between brands, distributors, and manufacturers while facing challenges like gray market operations [4]. - Currently, the wholesale market serves as both a "reservoir" and a "transit station," addressing issues of overproduction and mismatched market demand by providing new distribution channels for unsold goods [5]. - The majority of wholesale businesses now focus on domestic beauty brands, with 90% of products being domestic, as international brands struggle to maintain profitability [5][8]. Group 2: Shifts in Business Models - Wholesale operators are increasingly targeting second- and third-tier brands, which offer stable quality and a well-controlled pricing system, ensuring product authenticity and reasonable profits across the supply chain [9]. - Some wholesalers are strategically transforming their operations by initiating joint procurement of popular and trending products to enhance price competitiveness and customer loyalty [9]. - The rise of live-streaming commerce has shifted the core clientele of wholesalers from traditional cosmetic stores to more flexible supply chain partners like live-streaming hosts, allowing for real-time inventory adjustments and "zero inventory operations" [11]. Group 3: Changes in Retail Relationships - Traditional cosmetic stores are distancing themselves from wholesale channels, opting for direct procurement from brands or agents to ensure product quality and service support [14]. - The shift towards online procurement is evident, with many retailers reducing their reliance on wholesale markets, even for popular consumer goods [14]. - The transformation of the wholesale model is exemplified by the Linyi wholesale market, which has adopted a dual business model of e-commerce live streaming and offline wholesale [16]. Group 4: Future Outlook and Policy Support - The article notes that the traditional wholesale market is undergoing profound changes, with the need for adaptation to survive in a competitive landscape where profit margins are shrinking due to increased price transparency from e-commerce and community group buying [21]. - The Chinese government's action plan aims to enhance the quality of the wholesale and retail sectors by promoting innovation, digital transformation, and the integration of domestic and international trade [24][25]. - The article concludes that while the golden age of traditional wholesale markets has passed, new opportunities are emerging for those willing to adapt to the evolving market landscape [25].