"This dealer business earns you cabbage money but gives you heartache like you're dealing with drugs." That's what a dealer boss told me when I was out in the market recently. In the past two years, whenever you talk business with dealers, nine out of ten will sigh and say it's "tough": Warehouses are rented bigger and bigger, but inventory piles up more and more; dozens of sales reps work hard every day to cover outlets, but under the impact of new formats like discount stores and live-streaming e-commerce, foot traffic in small shops has been cut by more than half. Goods are placed on shelves, but they just rot there. What's worse, tax administration is getting stricter. Many issues that used to be handled by "finding connections and flexible solutions" are now red lines. A slight misstep could lead to sky-high fines. Many bosses are worried: Is there still a future in the dealer business? How should we do it? Past Experience Has Become Today's Operational Shackles Twenty years ago, the business logic for dealers was relatively simple. Get a regional agency, diligently cover outlets, do terminal work, execute manufacturer policies. As long as you were willing to work hard and invest, you could enjoy the industry's growth dividends. But now, these once-profitable experiences have become shackles. For example, many veteran dealers who have been in business for over a decade still rely on gut feeling to set inventory and distribute goods. When you look at the data, out of thousands of SKUs, less than 20% actually contribute profit; the rest tie up capital, occupy warehouse space, don't sell without promotions, and often end up as near-expiry returns, becoming pure loss. The comprehensive tightening of compliance supervision has made dealers walk on thin ice. Under the background of tax governance by data, many practices that companies used to follow—like mixing public and private accounts, non-compliant social insurance, etc.—are now risk points. Once you touch a red line, you face not only back taxes but also fines that can easily reach hundreds of thousands. Facing these changes, we must clearly recognize: The era of the "porter" that relied on information gaps, legwork, and price differences is gone forever. In 2026, Dealers Must Build Three Core Capabilities The industry is indeed getting harder, but that doesn't mean there are no opportunities. To stay at the table or even grow against the trend, dealers must abandon illusions and build three core capabilities that fit the current market. First, seek profit from refined operations. The era of running wild is over. Today's market competes on per-store output, category structure, and capital turnover efficiency. Which products really make money? Which ones just occupy warehouse space? Which customers deserve deep cultivation? Without a data system to break this down, dealers will only get busier and lose more money. Second, make compliance the foundation of operations. In the past, many bosses treated compliance as a cost. But in fact, compliance has long become the only way for business development. A standardized financial, tax, labor, and contract management system not only avoids operational risks but also serves as a necessary stepping stone for dealers to connect with large chains, big platforms, and obtain quality brand resources. Third, upgrade from product porter to terminal operator. The era of making money through price differences is over—this is industry consensus. What many stores really lack is not goods, but operational capabilities—product selection, display, scenario marketing, and sales promotion support. Whoever can deeply engage in store operations will become an indispensable partner for stores. March 15 Annual Training Course: No Trends, Only Solutions Refined operations, compliance management, and model transformation—dealers understand these directions, but when it comes to daily operations, they are full of confusion about implementation. To help bosses clear their minds at the start of the year and get practical methods that can be directly reused, during this CFC China FMCG Conference, we have specially planned a dealer-exclusive pre-event—the Dealer Annual Training Course. This course directly addresses the core topics for dealer survival and development in 2026. We have invited three top practical experts from different fields to deeply analyze in three modules. No vague industry trends, only actionable business solutions. Pain Point 1: Coarse growth is over, how to protect profits? Teacher Yang Bofan, founder of Bofan Consulting, will bring "Dealer Annual Topic: Business Improvement—Protect Profits, Increase Profits, Promote Growth." He will teach you hand-in-hand how to protect and increase profits through refined operations, see the true structure of your business, cut ineffective SKUs, and squeeze out real money hidden in redundant losses. Pain Point 2: Under strict tax audits, how to ensure compliance? Teacher Hu Junyong, lawyer at Beijing Huatian Law Firm and director of the Enterprise Compliance Professional Committee, will lecture on "Dealers: Turn Risks into Profits with Compliance." Focusing on three major areas—contract management, labor and employment, and tax management—he will help dealers legally avoid pitfalls, turn "costs" into "profits," and build a true moat for the enterprise. Pain Point 3: The price difference era is over, how to transform the model? Teacher Liu Fang, retail expert, business author, and retail mentor at Yuanfang Business School, will bring "The End of the Price Difference Era: How Dealers Transform into Operators That Entities Can't Do Without." She will outline a clear and actionable transformation roadmap, teaching you step by step how to become an operator that entities can't do without, and regain the voice in the regional market. Enterprise growth is actually a process: from not seeing, to seeing clearly, to seeing through. When the industry no longer offers easy dividends, our only way out is to seek efficiency from our own cognition, management, and model. Don't use tactical diligence to cover up strategic and cognitive laziness. On March 15, in Chengdu, we won't talk trends, only solve problems, and find the way to break through in the FMCG distribution business together with you.