（来源：化妆品观察 品观） 营销的潮水退去后，什么才是支撑品牌长久屹立的稳定器？ 无论是国际品牌CSS因"概念性添加"败退中国市场，还是诸多"抖品牌"如烟花般短暂的生命周期，都尖锐地指向了同一个问题：消费者的信任透支和高昂 的获客成本，共同构成了行业的"内卷困境"。 因此，从追逐流量转向深耕价值势在必行。在此背景下，连续多年斩获"卸妆类目销售额第一"的国货品牌逐本的战略动向提供了一个值得参考的样本：在 经历市场考验后，逐本正完成一场从"市场领导者"到"行业标准制定者"的战略跃迁。 这不仅是逐本奔赴下一座高峰的基石，也为身处迷雾中的美妆行业蹚出了一条通往长期主义的路：在"新手村红利"消失后的成熟竞技场，品牌的稳定器绝 非单一爆款，而是坚实的研发内核、可衡量的品质标准以及独特的品牌哲学共同构成的系统性底座。 九年沉淀 筑牢"品类领导者"认知护城河 在新消费品牌速生速死的时代，逐本用9年时间在卸妆油这个细分类目站稳了脚跟。 扎根于卸妆赛道，逐本以卸妆油为核心产品，连续5年占据卸妆品类第一，累计售出5200万+支卸妆产品，共服务3000万+消费者。 2025年双十一，逐本还一举斩获了天猫双十一卸妆类目销售额No.1。 ...

Core Viewpoint - The Chinese makeup market is undergoing a significant transformation, with a new force of domestic brands priced around 50 yuan emerging to redefine market dynamics and competition [3][5][12]. Market Dynamics - The makeup market is divided into three main forces: international luxury brands (e.g., YSL, Estée Lauder) dominating the high-end segment, local leading brands (e.g., Mao Geping, Huaxizi) focusing on brand upgrades, and the emerging "new makeup" brands priced around 50 yuan [5][7]. - The 0-50 yuan price segment accounts for one-fifth of the overall market, with over 50% market share in eye makeup, indicating its dominance in this category [7][11]. Sales Performance - Brands priced around 50 yuan have shown strong sales performance on platforms like Douyin, with several brands achieving over a million units sold during events like Double 11 [11][12]. - The brands in this price range have demonstrated consistent ranking in sales, with some brands maintaining top positions for several months, showcasing their operational stability [10][12]. Consumer Behavior - The rise of 50 yuan makeup brands reflects a fundamental shift in consumer logic, where younger consumers prioritize practical solutions over luxury branding [15][22]. - The success of these brands is attributed to their ability to address specific consumer pain points with high cost-performance ratios [15][22]. Brand Evolution - The emerging brands can be categorized into three types based on their establishment years: 1. Established brands (before 2017) that adapted to new channels [16]. 2. New brands (2018-2021) that grew alongside content e-commerce [18]. 3. Native Douyin brands (after 2022) that focus on efficiency and niche markets [20][22]. Strategic Development - These brands are transitioning from a focus on traffic to building brand assets through multi-channel strategies, including entering physical retail spaces [24][25]. - Brand image is being enhanced through celebrity endorsements, aiming to create deeper emotional connections with consumers [26][28]. Conclusion - The 50 yuan makeup brands are reshaping the market landscape, proving the power of niche segments and high cost-performance ratios, while emphasizing the importance of product barriers and brand value for long-term success [28].

Group 1 - MINISO FRIENDS opened its first store in South China, located in Shenzhen, aiming to create a new landmark for youth culture through immersive IP experiences [2] - The store features a unique "Right Right Sauce" glass window and various interactive installations, integrating popular global IPs such as Disney and Harry Potter [2] - MINISO's latest financial report indicates a total revenue of 4.97 billion yuan in Q2, representing a year-on-year growth of 23.1%, with a gross margin of 44.3%, up 40 basis points from the previous year [2] Group 2 - Shenzhen is promoting consumption upgrades through the "first store economy," with trendy toys becoming a significant aspect of this initiative [2] - Jin Guanghua Plaza has introduced 21 first-store brands, including high-traffic toy brands like WANGXIAOBEN and TOP TOY [3] - Shenzhen leads the nation in the toy industry, housing over 3,000 toy-related companies, which account for 14.4% of the total number of toy enterprises in China, forming a complete industry chain from design to export [3]

Core Insights - The beauty consumption landscape is undergoing a transformation driven by instant delivery services, reshaping the industry dynamics [2][4][16] Channel Evolution - The beauty and personal care consumption model has evolved through three phases: reliance on department stores, the rise of e-commerce, and now the emergence of instant retail as a "third pole" that combines online and offline advantages [4][5] - In 2023, China's instant retail market reached a scale of 650 billion yuan, growing by 28.89% year-on-year, significantly outpacing the growth of traditional online retail [5] Market Competition - Major platforms like Meituan, Ele.me, and JD.com are competing fiercely in the instant retail space, each leveraging their unique resources and strategies to capture market share [10][12] - Meituan has expanded its offerings beyond food delivery to include beauty and personal care, with significant investments leading to a doubling of sales in beauty categories during promotional events [7][8] Consumer Behavior - Over 50% of consumers born after 1995 prefer same-day delivery and are willing to pay a premium for it, indicating a shift towards an "instant gratification" consumption mindset [4][5] - The demand for instant availability is driving the growth of instant retail, particularly among younger consumers who prioritize convenience [7][16] Strategic Adaptation - Companies like Foxy Little Demon are exploring unique survival paths in instant retail, focusing on building standardized operational systems and adapting product offerings to meet online demand [12][14] - The emphasis on professional service and deep consumer understanding is becoming a competitive advantage in the instant retail landscape [14][16] Future Outlook - The instant retail market in China is projected to exceed 2 trillion yuan by 2030, positioning it as a new growth curve for the beauty retail industry [5] - The integration of speed, professional expertise, and consumer insights will be crucial for companies to thrive in the evolving retail ecosystem [16]

Core Viewpoint - The emerging skincare brand "Zhuben" is facing public scrutiny due to allegations of discrepancies between product ingredient filings and actual contents, as well as accusations of false advertising by its founder during a live-streaming event [1][2]. Group 1: Company Background - "Zhuben" was founded in 2016 and has adopted a "self-research + self-controlled supply chain" model. The brand quickly gained popularity after entering the Taobao distribution channel in 2018, particularly with its makeup remover oil product [2]. - The brand's Tmall flagship store launched in 2019, collaborating with influencer Li Jiaqi for 34 live-streaming events, achieving a record of selling 50,000 bottles of makeup remover oil in just one minute [2]. - In 2020, "Zhuben" achieved a total GMV of over 200 million yuan, a 450% increase from 2019, with over 80% of revenue coming from makeup remover oil, selling over 3 million bottles in less than two years [2]. - The brand's sales during the 2022 Double 11 shopping festival reached 340 million yuan, with nearly 3.5 million units of makeup remover oil sold [2]. Group 2: Recent Controversy - Allegations surfaced that "Zhuben" products, including the high-end "Mo Hong" series, contained ingredients that did not match their filings, such as using rose oil substitutes and unapproved new raw materials [1]. - During a live-streaming event on June 25, the founder Liu Qianfei made claims about the products' efficacy in promoting hair growth and addressing women's health issues, which contradicted the products' classification as ordinary aromatherapy oils [1]. - Following the allegations, "Zhuben" removed several implicated products from major e-commerce platforms and the founder deleted related posts on social media [1]. Group 3: Regulatory Response - The Zhejiang Provincial Drug Supervision Administration has stated that the matter has been referred to the local market supervision bureau for investigation and is being handled according to standard procedures [2]. - On June 27, the brand issued an apology and proposed a rectification plan while denying any improper product ingredient claims, asserting that all products are safe [2]. Group 4: Financial Information - According to public records, Hangzhou Shucai Network Technology Co., Ltd., the parent company of "Zhuben," has a registered capital of over 4.89 million yuan [3]. - "Zhuben" completed A and B round financing in December 2020 and March 2021, respectively, with the B round raising 50 million USD from notable investors [3].

Core Viewpoint - The company, Zhuben, issued a statement addressing media reports regarding discrepancies between the declared and actual ingredients of some products, asserting that there are no quality safety issues and announcing a comprehensive self-inspection process [1][4]. Group 1: Company Response - Zhuben clarified that the use of "rose" in the promotion of "墨红玫瑰净油" (Dark Red Rose Oil) is appropriate, as it aligns with national standards [4]. - The company will enhance management and improve internal review mechanisms to ensure strict compliance in external communications, including statements made by founders and management [1][7]. Group 2: Consumer Complaints - A consumer reported that Zhuben's high-end products claimed to contain "墨红玫瑰" (Dark Red Rose) essential oil, but the registration information only listed "玫瑰花油" (Rose Oil), raising concerns of false advertising [6]. - Other products purchased by the consumer allegedly contained unregistered new plant materials and biotechnology ingredients, violating regulations [6]. Group 3: Product Availability - As of June 28, Zhuben's "墨红" series products were not available on major e-commerce platforms, indicating a potential suspension of sales [6][8]. - The company committed to a systematic review of all sold products' ingredients, registration information, and promotional content to ensure compliance with regulations [8]. Group 4: Regulatory Oversight - The Zhejiang Provincial Drug Supervision Administration confirmed receipt of consumer complaints and is currently investigating the issues raised [9]. - Zhuben has positioned itself as a brand focused on Eastern skincare, achieving over 1.5 billion yuan in sales within five years, gaining significant market recognition [9].

Core Viewpoint - The construction of national reserve forests in Zhejiang embodies the "Two Mountains" theory, promoting ecological civilization and sustainable development through innovative practices and resource optimization [1][8]. Group 1: Ecological Capital Marketization - The establishment of a market-oriented mechanism for ecological capital aims to unlock the value potential of forestry resources through clear property rights, market transaction systems, and financial innovation [2]. - Zhejiang's "Three Rights Separation" reform addresses the inefficiencies of fragmented collective forests, enabling large-scale integration and efficient utilization of forest resources [2]. - Innovative financial products like "Lin Yi Dai" leverage ecological compensation rights to secure loans, transforming collective forest rights into capital [3]. Group 2: Ecological Industry Collaboration - The core drivers of ecological industry collaboration include resource optimization, technological innovation, and industry integration, leading to high-quality development in forestry [4]. - The promotion of "one acre of mountain, ten thousand yuan" model in the under-forest economy opens new avenues for income generation through diverse agricultural activities [4]. - Collaboration with academic institutions has led to the development of value-added products, significantly increasing the overall industry output [4]. Group 3: Inclusive Ecological Benefits - A multi-entity revenue distribution framework is essential for internalizing the positive externalities of ecological protection, enhancing the economic incentives for conservation [6]. - The concentration of land leasing and the establishment of standard forestry land models ensure stable income for farmers, reinforcing both ecological protection and livelihood security [7]. - The introduction of shareholding cooperative models in forestry has resulted in significant income increases for farmers, with some regions reporting over 50% of farmers' income derived from forestry [7]. Group 4: Three-Dimensional Collaborative Development - The project emphasizes the dialectical unity of ecological value and economic efficiency, ensuring the transformation of forest resources into development capital [8]. - Institutional innovation through the "Three Rights Separation" framework provides systematic solutions for national forestry reform [8]. - The dual empowerment of strategic reserves and livelihood improvement addresses both national timber security needs and rural income enhancement [8].