Group 1 - The gift box market is experiencing a downturn, with companies like Jia Duo Bao reducing their workforce and struggling to maintain sales levels compared to previous years [1][2] - Jia Duo Bao's sales have dropped to only a quarter of their peak, indicating a significant decline in overall market performance [1] - Wang Lao Ji is also facing challenges, with a recent anti-corruption campaign affecting the festive atmosphere and leading to price competition with Jia Duo Bao [2] Group 2 - The milk segment remains the dominant player in the gift box market, but there is a lack of innovation and a perception of declining value among consumers [4] - The gift market has faced four years of sluggish consumption, with sales during the 2025 Mid-Autumn Festival and National Day being less than half of 2024's figures [4] - Retailers are hesitant to stock up on inventory due to poor cash flow from lower-tier distributors and stores, leading to reduced order quantities [6][7] Group 3 - New entrants in the market, such as snack gift boxes and cross-category products, are capturing market share from traditional brands [8] - The example of instant noodles being used as wedding gifts in Henan illustrates a shift in consumer preferences and the evolving nature of gift products [12] - Traditional brands are struggling to adapt to changing market dynamics, while new brands are more agile and willing to take risks [13]