文 | 《BUG》栏目 张奥 三元股份的新"掌舵人"陈海峰，自今年4月上任后已交出两份"答卷"，但成绩难言理想。 掌舵期间，其第二季度、第三季度实现营收16.84亿元和15.4亿元，均出现同比下滑。这也导致了前三季 度总营收为48.71亿元，对比去年同期的54.16亿元，下滑幅度达11.06%。更严峻的还有大本营的"失 守"——今年，"大本营"地区经销商数量为376家，大幅减少32.62%。 《BUG》栏目随机探访了多个大型商超，当提到销量情况，多个工作人员表示"三元牛奶卖得一般"，在 众多品牌中，他们均未推荐三元的产品。另外，三元牛奶也被多次吐槽"奶味儿淡"。多位网友晒出"三 元鲜牛乳"并配文"跟兑了水一样"。 此外，三元牛奶推出的"晚安牛奶"新品也曾陷入争议。对于是否有效果，三元官方客服也"模糊"回应 称："有的，但没有固定的起效时间，具体看个人体质"。 "大本营"逐步失守，消费者称"寡淡" 除了来自头部品牌的挤压外，三元牛奶的味道"寡淡""难喝"也一度成为消费者吐槽的焦点。昌平三元牛 奶经销商予以肯定，"味道对比竞品确实淡。目前销量还行，单件利润约五六元。"类似的情况在社交平 台上也屡见不鲜。多位网友晒 ...

Core Viewpoint - The gravity eye mask, a new sleep aid product, has gained significant popularity in the Chinese market, with sales increasing rapidly due to rising sleep issues among the population and innovative marketing strategies [2][9][13]. Industry Overview - The gravity eye mask market is part of the broader sleep economy, which is projected to exceed 570 billion yuan by 2025 in China [13]. - The industry is experiencing a growth rate of approximately 40%, driven by an increasing number of individuals suffering from sleep disorders, which currently affects around 500 million adults in China [9][10]. Product Insights - Gravity eye masks typically weigh around 250 grams and are designed to provide a gentle pressure that mimics the feeling of being hugged, promoting blood circulation around the eyes [2]. - The product has seen a 100% year-on-year sales increase during major shopping events like the Tmall 618 promotion [2]. - The MiDuDog brand has reported over 10 million yuan in sales from gravity eye masks alone within a year [2]. Consumer Trends - There is a growing demand for sleep aid products among young consumers, with various brands launching innovative products such as sleep-enhancing essential oils and beverages [2]. - The gravity eye mask has sparked mixed reactions on social media, with some users praising it as a "sleeping artifact" while others criticize it as a "smart tax" due to usability issues [3]. Competitive Landscape - Domestic brands like MiDuDog are leveraging local supply chains to offer gravity eye masks at competitive prices, significantly lower than their foreign counterparts [4]. - The market is characterized by a lack of saturation, providing ample profit margins for brands to invest in research and development [11]. Marketing and Distribution - Brands are increasingly focusing on online channels for marketing, utilizing platforms like Xiaohongshu and Douyin for direct sales and consumer education [12]. - MiDuDog has expanded its reach by launching products on international platforms like Amazon, capitalizing on its domestic supply chain advantages [12]. Future Outlook - The gravity eye mask segment is expected to continue growing, with innovations in materials and functionalities to meet diverse consumer needs [11]. - As the sleep economy expands, brands that prioritize user experience and address sleep-related pain points are likely to emerge as leaders in the market [13].

Core Insights - The article discusses the launch of "Good Night Milk" by Hema, which claims to contain "10+ times native melatonin," targeting consumers with sleep anxiety [1][3][9] - The product has gained significant traction, with over 3,200 orders within a week of its launch [3] - The milk is produced by Beijing Sanyuan, which has patented methods to enhance melatonin content in milk [4][5] Product Details - "Good Night Milk" is designed for consumption before sleep, leveraging the idea that milk can aid in sleep [1][3] - The product contains 12,500 pg of melatonin per 250 ml, achieved through specific light exposure and dietary adjustments for dairy cows [4][5] - In comparison, a well-known melatonin supplement contains 2.25 mg (2.25 billion pg) per tablet, indicating that consumers would need to drink 80,000 to 240,000 bottles of "Good Night Milk" to meet the recommended daily dosage [8] Market Trends - The sleep economy is gaining attention, with 48.5% of adults reporting sleep issues, indicating a significant market opportunity [9] - Other brands have also introduced sleep-related products, such as Mengniu's "Good Night" milk and Guangming's "Comfort Sleep Milk," which incorporate various sleep-enhancing ingredients [11][15] - The effectiveness of these sleep-aiding products remains uncertain, as scientific evidence supporting their claims is limited [17]

Core Viewpoint - The introduction of "Good Night Milk" by Hema, which contains a low level of melatonin, has sparked discussions regarding its effectiveness and marketing claims related to sleep improvement [1][5][6]. Group 1: Product Details - Hema's "Good Night Milk" is produced by Beijing Sanyuan Foods Co., emphasizing "10 times+ native melatonin," with each 250ml bottle containing 12,500pg of melatonin, equivalent to 0.0000125mg [1][4]. - The product's melatonin content is significantly lower than the recommended dosage of 0.1mg-0.3mg for sleep improvement, raising concerns about its efficacy [4][5]. - Prior to Hema's launch, Sanyuan introduced "Ultimate Good Night Milk" on March 21, 2023, also claiming high melatonin content [6][8]. Group 2: Regulatory and Marketing Concerns - In China, melatonin is classified as a health food ingredient, requiring specific labeling, yet Hema's product states it "cannot replace health products" [5]. - Experts indicate that the evidence supporting melatonin's effectiveness for sleep improvement is insufficient, as it primarily aids those with melatonin deficiency or jet lag [5][6]. - Legal experts suggest that Hema's marketing does not explicitly claim sleep benefits, potentially avoiding false advertising allegations under food safety regulations [5][6]. Group 3: Company Performance and Market Context - Sanyuan has applied for a patent related to increasing melatonin content in milk, which was granted in September 2023, indicating a strategic focus on enhancing product offerings [8][12]. - Sanyuan's revenue has declined from a peak of 8.8 billion yuan in 2021 to an estimated 7 billion yuan in 2024, with a significant drop in its Beijing market revenue by 28.79% year-on-year [19].