高端酒毛利率普遍超 80% 的行业常态下，胖东来联手酒企推出 "亲民" 白酒再下一城 —— 其与酒鬼酒（000799.SZ）联名的 "酒鬼・自由爱" 以 15.87% 毛利率打破行业规则。 前述步步高相关人士表示，公司与胖东来的合作持续深化，除了新增胖东来和酒鬼酒联名的这 款白酒，还上架了啤酒、烘焙等多个胖东来自有品牌产品。本次即将上架的酒鬼自由爱产品， 希望能得到消费者的喜欢。 今早，财联社记者登录胖东来线上商城小程序查询显示，DL酒鬼自由爱这款产品显示状态 为"已售罄"。 而DL宝丰自由爱，整箱定价450元的产品仍可购买。 在酒鬼酒这款新品上市前，胖东来已于7月1日在其抖音平台提出目标： "自由·爱单品今年可 能10亿左右，努力把胖东来和合作企业成就为国际品质标准企业。" （图片来源：胖东来线上商城小程序） 中国酒业协会发布的《2025中国白酒市场中期研究报告》显示，白酒主销价格段由300-500 元进一步向100-300元价位带下沉。2025 年1-6月，白酒市场经销商与零售商反馈显示，市 场动销表现最为突出的前三价格带依次为100-300元、300-500元以及100元及以下 ；同时 34.9%的白酒 ...

6月29日，胖东来创始人于东来在抖音上透露"酒鬼酒・自由爱"即将面世销售后，股价还在底部震荡的酒鬼酒如同"打了鸡血"，开启了一波凌厉的上涨攻 势。 据Wind数据统计，截至7月16日，酒鬼酒自于东来宣布合作后股价累计上涨18.73%。而除了酒鬼酒外，同期没有一只白酒股的股价涨幅超10%，表现最佳 的泸州老窖在此期间累计涨幅也仅为6.98%，酒鬼酒可谓既赚了眼球，也赢得了市场的广泛关注。 7月14日，酒鬼酒发布的半年度业绩预告如同一颗"重磅炸弹"，彻底"引爆"了资本市场的担忧。酒鬼酒预计上半年营收仅5.6亿元，同比暴跌43%；净利润 仅为800万—1200万元，同比降幅高达90%—93%，创下近10年新低。 【此前报道：】 对此，酒鬼酒解释，上半年受多重因素影响，白酒企业经营进一步承压，马太效应下中小酒企压力更大，经销商回款意愿谨慎。 据不完全统计，宝丰"自由爱"系列产品单日销售量在3000—4000箱，而在节假日可能高达约7000箱，庞大的销售量让合作方宝丰酒业从濒临倒闭变为跻身 清香型酒企的"第二梯队"。 根据行业披露，宝丰酒业通过代工生产"自由爱"在2024年获得约5亿元销售额。 酒类分析师蔡学飞认为：" ...

Core Viewpoint - The opening of the upgraded Yonghui Supermarket in Meishan represents a significant shift in regional commercial development, aligning with local government initiatives to boost consumption and enhance quality standards in retail [5][16]. Group 1: Product Renewal - The store has adopted a "less but better" strategy, reducing the number of products from 14,787 to 10,841, a decrease of 34%, while introducing 4,463 new items, accounting for 41.2% of the total [7]. - 68 popular products from the "Fat Donglai" brand have been introduced for the first time in Meishan, with over 80% of the store's product structure aligning with Fat Donglai standards [7]. Group 2: Fresh Food and Service Enhancements - The area for baked goods and ready-to-eat meals has expanded from 163 square meters to 378.2 square meters, increasing its share from 6.3% to 14.7%, with new offerings attracting younger consumers [8]. - The store has introduced various customer-friendly services, including a blood pressure monitor, height and weight measurement tools, and free drinking water, enhancing the shopping experience [12][14]. Group 3: Talent Development - The number of employees at the Meishan store has increased from 90 to 117, with salaries raised to 4,081 yuan or more, and strict work hour regulations implemented [15]. - The "Craftsman Plan" has been initiated to cultivate a skilled workforce, aiming to elevate employees from service roles to retail craftsmen through training and certification [15]. Group 4: Strategic Expansion - With the opening of the Meishan store, Yonghui has reached 122 upgraded stores nationwide, with plans to exceed 178 by the end of August, indicating a trend towards accelerated upgrades and regional decentralization [16]. - The launch of the annual "717 Good Food Festival" will coincide with the store's opening, focusing on quality consumption and enhancing customer engagement across the nation [16].

Core Viewpoint - The opening of the upgraded Wumart store in Hangzhou's Gongshu Wanda marks a significant transformation aimed at enhancing customer experience and product offerings through the "Learning from Pang Dong Lai" initiative [2][3]. Group 1: Store Upgrades and Customer Experience - The store features a dedicated area for Pang Dong Lai products, including popular items like instant oatmeal and local snacks, creating an inviting shopping environment [3][5]. - Customers can enjoy free samples of various products, and the store emphasizes transparency with on-site food preparation and safety measures [3][4]. - The store has implemented various customer service enhancements, such as providing disposable gloves and utensils, and ensuring daily freshness of products through clear signage [4]. Group 2: Product and Employee Changes - Approximately 70% of the old products have been replaced, introducing over 80% of the product supply chain from Pang Dong Lai, along with local specialties [5]. - Employee wages have been increased by 33%-50%, with a minimum starting salary of 6,000 yuan, and a profit-sharing mechanism has been introduced for staff [5]. - The company plans to monitor the performance of the Gongshu Wanda store closely and may expand the initiative to more locations in Hangzhou and Zhejiang if successful [5].