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Everyone Is Pouring into Special Channels, but 90% of Distributors Are Getting It Wrong
Since 2026, special channels have become the hottest topic in the FMCG industry, with nearly all distributors rushing into scenarios like billiard halls, esports venues, internet cafes, script murder games, campus stores, and highway service areas. However, most entrants are failing to make money due to wrong strategies, such as relying on extensive distribution, neglecting existing customer bases, and lacking customized solutions.
程信Supermarkets in County Towns Are Increasingly Struggling
Once indispensable in county towns and townships, small and medium supermarkets are now facing an unprecedented survival crisis. With daily revenue as low as 1,000 yuan and weekly sales of a single bottle of shampoo, the decline is stark. The article analyzes the causes, including the shift to online shopping and the rise of community group buying, and suggests strategies for survival, such as supply chain reform and exploring larger supermarket formats in lower-tier markets.
程信Market Value Evaporates 35 Billion! Has the 'Bread King' Become a Cash Cow for Capital?
In 2025, Toly Bread delivered a disappointing performance to the capital market: for the full year 2024, revenue was 6.087 billion yuan, down 9.93% year-on-year; net profit was 522 million yuan, down 9.05%. Notably, this is the first time since its listing in 2015 that the Northeast baking leader has seen a 'collapse-style' decline in both revenue and net profit. Once the 'king of short-shelf-life bread' that swept the nation with its 'central factory + wholesale' model and earned over 6 billion yuan annually, why is it now facing a 'midlife crisis'?
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