Of course, financial data can tell the difference.

Of course, financial data can see the difference. Whether the ability to apply operational leverage in operation has been improved rapidly, whether cash inflows can be accelerated more and more, whether bargaining power and capital occupancy capacity of channels and suppliers can be strengthened more and more, whether price increases can be increased at the same time or vice versa. However, these "new consumption" are still exploiting the market with fast income growth and low net interest rate (manufacturing logic). Obviously, a "product life cycle" that will not be too long has not been completed, the discrete industry attributes have not been exposed, and the flourishing of short-term demand side seems to conceal the concentration and sustainability of the supply side. Difficulties. Of course, the value is great, but it’s mainly commodity value, not branding value. This new business logic of consumption is much more than the same business logic for a sinking market, such as cold weapons for nuclear weapons.
What does the old Internet gun know about new consumption? First distinguish the brand from the factory brand.