Core Insights - The rise of IP collaborations in the new tea beverage sector has transformed from a simple marketing tactic to a core battleground for brand traffic acquisition [1][20] - Despite the apparent excitement, many collaborations are becoming financially unviable, with increasing marketing expenditures and insufficient product innovation leading to a "loss-making" scenario [1][20] - In the first half of 2025, there were 72 IP collaboration events in the new tea beverage industry, showcasing a mix of successful and failed partnerships [1][3] Industry Trends - The new tea beverage market is experiencing a significant increase in IP collaborations, with brands like Luckin Coffee and Heytea adopting different strategies, leading to a clear industry differentiation [1][12] - The majority of collaborations are driven by anime, game, and character IPs, which account for nearly 40% of the total collaborations [3][4] - The trend of using celebrity IPs is evolving, with brands moving towards emotional asset management rather than just image licensing, as seen in collaborations with stars like Wang Junkai [6][20] Marketing Dynamics - Marketing expenditures for new tea brands have surged, with companies like Luckin Coffee spending up to 1.92 billion yuan in Q1 2025, reflecting a 49.3% year-on-year increase [12][13] - The effectiveness of these marketing strategies is showing diminishing returns, with brands experiencing a decline in search volume despite initial spikes in sales [14][20] - The reliance on IP collaborations is leading to a cycle where brands may prioritize marketing costs over product innovation, risking long-term brand health [16][20] Strategic Shifts - Some brands are reevaluating their approach to IP collaborations, with Heytea notably adopting a "no collaboration" strategy in the first half of 2025 to focus on high-end market positioning [1][18] - The industry is witnessing a shift towards more sustainable and meaningful partnerships, as brands seek to align with IPs that resonate with their core values and customer demographics [20] - Future success in IP collaborations will depend on brands' ability to balance short-term traffic gains with long-term brand equity, emphasizing the need for strategic selection and value co-creation [20]