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00:04The Mid-Autumn Festival is in two days.
00:05Viewers, have you bought mooncakes?
00:08I wonder if anyone has noticed?
00:09Although the Mid-Autumn Festival is approaching
00:11However, many mooncake gift boxes are still neatly displayed on the shelves.
00:14High-end gift boxes that were once highly sought after
00:17It doesn't seem as sought-after as before.
00:19It's not that nobody buys them.
00:20So what about in China recently?
00:22The statement "Mooncakes aren't selling well"
00:24It even topped the trending searches.
00:27Is it really that people don't like mooncakes anymore?
00:30Or is China's economy really not as good as it used to be?
00:33According to local media reports
00:35Although there are still a few days until the Mid-Autumn Festival
00:37However, many Chinese businesses have already started promotions ahead of schedule.
00:40Major brands are offering discounts to attract consumers.
00:44Even the mooncakes from five-star hotels, which used to symbolize high-end products...
00:48They too could not escape this cold wave.
00:50Mooncake gift boxes are being discounted and promoted one after another.
00:52In fact
00:53On the eve of this year's Mid-Autumn Festival
00:55Sales of mooncakes in China have plummeted by 45% compared to the same period last year.
01:00Almost directly shake
01:01High-end mooncake gift boxes were the first to be affected.
01:04Sales plummeted by a staggering 76%.
01:07It was cut off by three-quarters directly.
01:09However, not all mooncakes went unsold.
01:13For example, the price is 79 yuan.
01:1599 yuan
01:16A relatively affordable mooncake at 139 RMB.
01:19They became the main force in the market.
01:21This is called consumption downgrade.
01:23There was even a trend of assembling mooncake gift boxes yourself.
01:27Consumers buy those loose mooncakes themselves.
01:29Combined with empty gift box packaging
01:32It can also make the gift-giving more presentable.
01:34It can save a lot of money.
01:36Some people among the mooncake distributors frankly admitted that...
01:41The current market situation is that mooncakes selling for over 200 RMB...
01:47The number of people willing to pay money to buy it has obviously decreased.
01:49Unlike the lavishly packaged mooncakes of previous years that cost 600-700 RMB.
01:55There are still people willing to spend money.
01:57So here's the question:
01:58Why are people suddenly unwilling to pay for expensive mooncakes?
02:02One of the biggest reasons is
02:04People's reasons for buying mooncakes have changed.
02:06In the past, mooncakes were often a gift exchanged between people.
02:09Buy it as a gift for Cook, a business partner, or a friend or relative.
02:13Therefore, the more luxurious the gift box, the more popular it is.
02:17However, with the overall economic slowdown
02:19Corporate group purchases and business gift-giving demand have decreased.
02:22The market for high-priced mooncakes has also shrunk.
02:25This has led to mooncakes gradually moving away from their role as social currency.
02:29Returning to the function of food
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