100 Million People in China Can’t Afford Mooncakes; They Pile Up Unsold as Money Runs Out

Summary

This year's Mid-Autumn Festival sees a peculiar slump in mooncake sales, traditionally a symbol of the holiday. High prices and economic struggles have dampened consumer interest, with even top brands like Maxim's facing challenges. The luxury mooncake market, once a status symbol, now struggles as people prioritize necessities over festive luxuries. The downturn reflects broader economic concerns and a shift in consumer behavior, with health and food safety also influencing the decline.

Takeaways

• 📉 Moon cake sales have significantly dropped this year, with many sellers struggling to move their stock.
• 💸 High costs are not the only factor affecting moon cake sales; economic downturn and reduced consumer spending play a role.
• 🎑 Traditionally, moon cakes were in high demand around the Mid-Autumn Festival, but this year's market is unusually quiet.
• 🏢 Maxim's, a top moon cake brand in mainland China, is also experiencing difficulties in sales, indicating a broad market issue.
• 🛒 Consumers are cutting back on non-essentials like moon cakes due to financial constraints, prioritizing basic living expenses.
• 📉 The luxury moon cake market is also affected, with high-priced moon cakes seeing a decline in sales.
• 🏭 Moon cake factories are reducing production and adjusting schedules due to the decrease in orders.
• 📦 The tradition of gifting moon cakes is fading as fewer businesses and individuals purchase them as gifts.
• 🍰 Health concerns and the perception of moon cakes being high in sugar and fat are contributing to their reduced popularity.
• 🚫 Food safety issues, including the use of additives like titanium dioxide, are causing consumers to be wary of moon cakes.

Q & A

Why are moon cakes not selling well this year according to the script?

The script suggests that moon cakes are not selling well this year due to a combination of high prices, economic struggles, and a shift in consumer behavior. Many people are struggling financially and cannot afford luxuries like moon cakes, and there's also a concern about food safety, which is affecting sales.

What role do moon cakes play in Chinese culture and why are they significant during the Mid-Autumn Festival?

Moon cakes are a traditional Chinese pastry associated with the Mid-Autumn Festival. They are typically eaten during the festival and are also given as gifts. The festival is almost as important as Chinese New Year, making moon cakes a must-have item during this time.

How have food safety concerns impacted the sale of moon cakes in China?

Food safety concerns, such as the use of additives and the rejection of moon cakes by the EU due to the presence of titanium dioxide, have led to a decline in public trust. This has resulted in a drop in sales as consumers become more health-conscious and wary of potential health risks associated with consuming moon cakes.

What is the significance of Maxim's mooncakes in mainland China, and why are they struggling this year?

Maxim's mooncakes from Hong Kong have been a standout brand in mainland China due to serious food safety concerns in the country. However, even Maxim's is struggling this year, possibly due to the overall economic downturn and a decrease in consumer spending on non-essential items.

What is the impact of the economic downturn on the moon cake market as described in the script?

The economic downturn has led to shrinking profits and fewer people willing to take the risk of stocking moon cakes. This has resulted in a natural drop in sales, with many businesses struggling to sell even well-known brands like Maxim's.

How have consumer habits changed regarding moon cakes according to the script?

Consumer habits have shifted towards more affordable moon cakes, with simpler flavors and lower prices. The script mentions that the best-selling moon cakes now are the ones that cost 2 yuan each, indicating a move away from expensive, fancy moon cakes.

What is the role of moon cakes in corporate gifting and employee benefits as described in the script?

Moon cakes have traditionally been part of corporate gifting and employee benefits, with companies bulk purchasing them for employees and clients. However, due to layoffs in the tech industry and a reduction in employee benefits, this market has significantly decreased.

Why are moon cakes being compared to financial products in the script?

The script compares moon cakes to financial products because they have been turned into vouchers that can be circulated in the market, similar to futures contracts. This financial maneuver allows for profit-making without the physical exchange of moon cakes, but the economic downturn has led to a collapse of this financial game.

What is the connection between moon cake sales and the broader economic trends in China as mentioned in the script?

The decline in moon cake sales is seen as a reflection of China's economic future, with a potential long-term downturn affecting every industry, family, and individual. The script suggests that societal demand is in a long-term, irreversible decline, which will impact all sectors, including moon cake sales.

How has the luxury moon cake market been affected by the economic situation, according to the script?

The luxury moon cake market, which includes expensive moon cakes with high-end ingredients, has been severely affected by the economic situation. The script mentions that even moon cakes priced at thousands or tens of thousands of yuan are struggling to sell, as ordinary people cannot afford such luxuries.

Outlines

00:00

🥮 Unprecedented Decline in Mooncake Sales

The script discusses the unusual downturn in mooncake sales leading up to the Mid-Autumn Festival. Traditionally, mooncakes are a staple during this period, with high demand and price surges. However, this year, sales have been sluggish, even for premium brands like Maxim's. Factors contributing to this include high prices, economic struggles, reduced business gifting, and the prioritization of necessities over luxuries. The script also mentions the reduced production and shipments by factories due to the drop in orders, and the hesitance of retailers to stock mooncakes, reflecting a broader economic trend and a shift in consumer behavior.

05:00

📉 Economic Impact on Mooncake Popularity

This paragraph delves into the economic factors affecting mooncake sales, highlighting that the middle class and startups are financially strained, leading to a reduced demand. The script mentions that mooncakes, once a semi-essential product for the middle class, are now considered a luxury that many cannot afford. It also discusses how mooncakes have transitioned from being a consumable good to a financial product, with companies using vouchers and gifting culture to drive sales. The economic downturn has led to a decrease in bribery and corporate gifting, which in turn has impacted mooncake sales. Additionally, the script touches on the public's growing health consciousness and concerns over food safety, which are contributing to the decline in mooncake popularity.

10:01

🚫 Food Safety Concerns and Mooncake Sales

The paragraph focuses on the impact of food safety concerns on mooncake sales. It discusses the controversy surrounding the use of titanium dioxide in mooncakes, which has led to bans and rejections by the EU. This has raised questions about the safety of mooncakes and the potential risks they pose to health. The script also mentions other food safety scandals that have eroded consumer trust in China's food industry. The concerns over additives and the quality of mooncakes have further dampened sales, as consumers become more health-conscious and wary of potential risks associated with consuming such products.

15:02

📉 Mooncake Financialization and Economic Downturn

This paragraph explores how mooncakes have been financialized, turning them into a type of futures contract used for bribery and gifting. It describes the process where mooncake vouchers are circulated and traded without the actual mooncakes being produced or exchanged. The economic recession has led to a decrease in demand for such financial maneuvers, causing a collapse in the mooncake financial market. The script also compares the current struggles of mooncake sales to those of other industries, like liquor, which are also facing a downturn. It suggests that the decline in mooncake sales is indicative of broader economic challenges and a potential long-term trend of reduced societal demand.

Keywords

💡Mid-Autumn Festival

The Mid-Autumn Festival, also known as the Moon Festival, is a traditional Chinese holiday celebrated on the 15th day of the 8th month of the lunar calendar. It is a time for family reunions and is associated with the giving and sharing of mooncakes. In the video, the festival serves as the backdrop for discussing the unusual lack of sales for mooncakes, indicating a broader economic trend or societal change.

💡Mooncakes

Mooncakes are a traditional Chinese bakery product traditionally eaten during the Mid-Autumn Festival. They are round pastries often filled with sweet or savory ingredients and symbolize unity and completeness. The video discusses the unexpected difficulty in selling mooncakes, suggesting a significant shift in consumer behavior and economic conditions.

💡Maxim's mooncakes

Maxim's mooncakes refer to a brand from Hong Kong that has been popular in mainland China due to perceived higher food safety standards. The video mentions that even Maxim's is struggling with sales, highlighting the severity of the current market situation for mooncakes.

💡Food safety

Food safety concerns are mentioned as a significant factor affecting the sale of mooncakes in China. The video suggests that serious concerns about food safety, particularly with additives and chemicals, have contributed to the decline in mooncake sales, reflecting a broader consumer wariness about what they consume.

💡Economic downturn

The economic downturn is a recurring theme in the video, with the poor sales of mooncakes and liquor being indicative of a larger economic problem. The script mentions that people are struggling financially, which directly impacts their purchasing power, especially for non-essential items like mooncakes.

💡Gift-giving culture

Gift-giving is a significant aspect of Chinese culture, especially during festivals. The video discusses how mooncakes are often bought as gifts for business contacts or during the Mid-Autumn Festival. However, due to the economic downturn and changing priorities, the tradition of gifting mooncakes has been affected.

💡Titanium dioxide

Titanium dioxide is a coloring agent mentioned in the video as a reason for the rejection of Chinese mooncakes by the EU due to health concerns. This incident has potentially eroded consumer trust in mooncake safety, further contributing to the decline in sales.

💡Moutai

Moutai, a high-end Chinese liquor, is used in the video as an example of another luxury item that is also facing poor sales during the Mid-Autumn Festival. This underscores the broader impact of economic challenges on the luxury goods market in China.

💡Consumption indicator

The video describes mooncakes as a 'consumption indicator' for the middle class, reflecting their economic health. The decline in mooncake sales is seen as a sign of the middle class's financial struggles and a potential bellwether for the overall economy.

💡Health consciousness

Health consciousness is highlighted as a growing trend among consumers, with the video suggesting that the high sugar and fat content of mooncakes is less appealing to health-conscious consumers. This shift in consumer preference contributes to the reduced demand for mooncakes.

💡Social exchanges

Social exchanges, particularly the practice of giving mooncakes as a courtesy rather than out of genuine enjoyment, are discussed. The video implies that the social obligation to exchange mooncakes may be diminishing, contributing to the overall decline in sales.

Highlights

Moon cake sales are unusually low this year, with more sellers than buyers in supermarkets.

In the past, moon cakes were like hard currency, but this year even top brands like Maxim's are struggling.

A friend has 10,000 boxes of moon cakes from July still unsold, indicating a significant drop in demand.

The mid-autumn festival is traditionally a peak time for moon cake sales, but this year the market is quiet.

Fancy moon cakes, often bought as business gifts, are less popular due to the economic downturn.

Many people are struggling financially and cannot afford non-essentials like moon cakes.

The high cost of moon cakes is deterring potential buyers, even though they are traditionally a must-have item.

Moon cake factories are reducing production due to a sharp drop in orders.

A sales manager from a moon cake factory in Shenzhen notes a significant decrease in orders and lighter workload.

A star-rated hotel in Shenzhen has reduced its moon cake sales target due to decreased consumer spending.

Some factories are operating on a three days on, one day off schedule due to lack of orders.

A food store owner is hesitant to stock moon cakes due to poor sales and changing consumer habits.

Last year, selling a few dozen boxes of moon cakes was considered a success, reflecting a drastic change in sales.

The economy's poor state has led to a decline in moon cake sales, affecting almost every industry.

Moon cakes, once a consumption indicator for the middle class, are now out of reach for many.

Government workers, traditionally big buyers of moon cakes, are unlikely to spend lavishly on them due to financial constraints.

Public concern about food safety, including the use of additives in moon cakes, is contributing to lower sales.

The EU's rejection of Chinese moon cakes due to titanium dioxide has raised questions about food safety.

Moon cakes have become a financial product, with vouchers circulating as a form of futures contract.

The economic recession has led to a collapse in the moon cake financial market, affecting food companies' profits.

High-end liquors like Maotai are also facing sales difficulties, indicating a broader economic impact.

The decline in moon cake sales is seen by some as a reflection of China's economic future and societal demand.

Transcripts

this year's midon Festival business is

really strange I get that liquor isn't

selling but how is that even moon cakes

aren't moving now liquor not selling can

be blamed on high prices but moon cakes

aren't even that expensive just look

there are more sellers in the

supermarket Than People browsing for

moon

cakes even the top moon cake brand can't

hold on I've got my whole car packed

with moon cakes right now in the past 2

years around 20 days before the

mid-autumn festival if you wanted to buy

Max moon cakes the price would go up

every day everyone was rushing to

pre-order and stock up whoever stocked

them made money it took connections to

even get some in and once you had them

it was as good as cash they were like

hard currency but not this year a friend

called me saying they still had 10,000

boxes from July asking if I could help

sell them

off mid-autumn Festival is a traditional

Chinese holiday almost as important as

Chinese New Year moon cakes as a

must-have item for the festival should

be flying off the shelves about about a

month before the holiday but this year

the market is unusually quiet there are

many mooncakes brands in China but

because of serious food safety concerns

in the country Hong Kong's Maxim's

mooncakes have been the standout in

mland China as recently as last year

they were still selling like crazy but

this year even maxims is struggling one

distributor explained that with

shrinking profits fewer people are

willing to take the risk of stocking

moon cakes leading to a natural drop in

sales fancy moon cakes are often bought

as gifts for business contacts but in

this economy fewer business gifts are

needed how many regular people are going

to spend 300 un on eight small moon

cakes one person commented moon cakes

aren't food or necessity when people are

broke and can't earn a living how can

they afford to spend on luxuries wages

aren't even being paid and families are

already struggling with water

electricity bills and school fees how

can they still buy moon cakes people are

barely scraping by eating a steam bun at

every meal if they're lucky this year

forget about moon cakes even plain

porridge with Pickles is hard to come by

right now more people are just trying to

survive eating only two meals a day

noodles at lunch and a little pork with

vegetables for dinner the kids just

started school and I had to borrow a lot

of money for that who has any spare cash

left to spend on moon cakes another

commenter mentioned think about it what

kind of pastry costs a few hundred Yen

per pound aart from moon cakes what

other pastry is that expensive even

pastries that cost 30 per pound make

people think twice let alone moon cakes

that cost hundreds per pound it's

ridiculously expensive when people

aren't struggling to make ends meat who

has the energy to care about holidays

even during the New Year it's the same

usually right before the mid-autumn

festival Mooncake production lines

always buzz with activity workers would

be working overtime to meet the high

market demand however things are

different this year due to a sharp drop

in orders factories have had to adjust

their production schedules to cut cost

and reduce excess inventory a report

from the time weekly quoted a sales

manager from a moon cake factory in

Shenzhen he said that in previous years

the two weeks before the festival were

the busiest with a factory shipping

products even in the middle of the night

but this year the number of orders has

significantly decreased and the workload

has lightened as well a manager from the

dining business of a star rated hotel in

Shenzhen shared that since the second

quarter they've noticed a drop in

consumer spending last year the hotel

sold 13,000 boxes of moon cakes but this

year the target was reduced to 10,000

boxes and they still couldn't sell them

a sales manager at a large moon cake

factory in guano mentioned that due to

the lack of orders some factories are

now working three days and taking one

day off with shipments going out every

other day a food store owner witnessing

the poor sales this year was conflicted

about whether or not to stock moon cakes

so he turned to social media to ask

fellow business owners for

advice as the mid-autumn festival gets

closer how are your moon cake gift boxes

coming along in previous years I would

have started selling by now but this

year I'm still hesitating the main

reason is that fewer people are giving

gifts and younger people are just buying

them online and sending them home I

remember in the early years of my store

business was great during the holidays I

could sell 10,000 or 20,000 un worth of

moon cakes in a single day business

owners would buy them for employes

students would buy them for teachers and

younger people would buy them for their

elders but now if I could sell a few few

dozen boxes during the holiday I

consider it good what's the situation

like for you all in the comments below

his video another store owner replied

selling a few dozen boxes of moon cakes

would be a success now last year I only

sold less than 20 boxes so this year I'm

not even bothering with gift box

packaging I lost over 1,000 un selling

moo cakes last year so this year I'm not

selling them at all I had planned to

start selling moon cakes but no one's

placed an order with me so far it seems

like moon cakes are being sold

everywhere but no one's buying I've

decided not to sell them anymore the

economy is in shambles and almost every

industry is frozen moon cakes of course

can't stay popular as one blogger said

no one has money anymore so no one can

afford moon cakes that cost hundreds of

unen per box naturally the ones that

cost 2 un each are flying off the

shelves the reason moon cakes aren't

selling well this year comes down to the

fact that the middle class and startups

just don't have the money anymore

yesterday in the elevator I overheard

the boss of a shell company say that

both moon cakes and hairy crabs aren't

selling this year actually last year

moon cake vouchers and crab gift cards

didn't sell well either and there was no

expected growth people thought that it

was just a cyclical thing but now that

it's happening again it looks like a

larger Trend next year could be even

worse moon cakes used to be a

consumption indicator for the middle

class considered a semi-essential

product Ordinary People would buy them

to eat or give us gifts and companies

would bulk purchase them for employees

and clients for regular folks five or

six years ago the most popular moon

cakes were the iced ones from Starbucks

or those from festar hotels these moon

cakes came in beautifully packaged boxes

of 48 costing several hundred Yen a

symbol of consumption upgrade but this

year the bestselling moon cakes are the

ones that cost 2 unen each the flavors

are much simpler too just black sesame

or a sanum sugar people are just trying

to keep up with a ritual of mid-autumn

Festival in a low-key way on the

business side moon cake gift boxes used

to be a Battleground for domestic

internet companies with each company

trying to outdo the other in employee

perks moon cakes were part of the annual

benefits package but in the past 3 years

tens of thousands of people in the tech

industry have been laid off each box

cost around 200 yen and with one box per

person that market alone used to be

worth close to a billion yen now both

the people and the moo cakes are gone

according to public data the entire

annual moo cake Market in China is only

worth about 20 billion un on top of that

many Industries are cutting wages and

reducing employee benefits when it comes

to non-essential items like mooncakes

which can cost several hundred Yen a box

it's the first thing to be abandoned one

thing this blogger didn't mention is

that another major buyer of moon cakes

used to be government workers who would

receive them as part of their holiday

welfare every year around the holidays

government employees would receive all

kinds of goods from cooking oil to rice

and of course moon cakes were a must per

mid- Autumn Festival years ago news

broke about a local government in penzo

soan spending 780,000 un on mooncakes

according to a report from September

2020 a government announcement showed

that the economic technology and

information Bureau of penzo purchased

275 boxes of moon cakes with a budget of

almost 1 million yen and they finally

spent 780,000 un on them each box cost

289 un at the peak of the pandemic a

small local government Department used

nearly a million un to buy over 2,000

boxes of moon cakes which spark public

outrage but nowadays local governments

are in bad shape civil servants are not

being paid on time it seems so unlikely

that they will spend so lavishly on moon

cakes as a perk anymore one media Outlet

also suggested that the reason moon

cakes aren't selling well this year is

because people are paying more attention

to healthy eating modern consumers are

more focused on health and moon cakes

which are usually higher in sugar and

fat don't fit into that lifestyle moon

cakes have also become more of a tool

for social exchanges giving us gifts out

of courtesy but not necessarily because

people enjoy eating them many are

accepted politely but not actually

consumed which contributes to the

decline in their popularity another

blogger believes that besides the fact

that people don't have money another

important reason for the drop in moon

cake sales is the Public's concern about

food safety just look at the ingredients

list it's full of additives with

chemical names that are hard to

pronounce is that a moon cake or a

chemical

product the reason moon cakes aren't

selling well on the surface is because

they contain too much oil and sugar

which isn't good for your health if you

eat too much of them but I think that's

just nonsense we eat plenty of unhealthy

Foods don't we do you think Hot Pot is

healthy is barbecue healthy so clearly

that's just a superficial reason the

real issue is food safety there's a

rumor going around online that over

10,000 tons of moon cakes originally

meant to be exported to the European

Union were rejected by the EU because

they contain titanium dioxide and the EU

didn't even allow them to be destroyed

within its borders titanium dioxide is a

coloring agent that makes moo cakes look

bright and appealing but it's also

something that can cause genetic

mutations the thing is the moon cakes

exported to the EU are supposed to meet

high standards and be of good

quality but even those were rejected and

after being sent back they weren't

allowed to be destroyed in Europe so I

have to ask will they really be

destroyed when they return if not who

will they be sold to are the moon cakes

we're eating this year really freshly

made with all the recent controversies

surrounding prepackaged Foods people's

trust in food safety is at an all-time

low on September 27th

2023 Planet Business Review published an

article stating that the rapid alert

system for food and feed which monitors

issues within the EU reported that

Finland found titanium dioxide in moon

cakes imported from China and

subsequently banned their entry the

article explained that titanium dioxide

is a common food coloring colorless and

tasteless also known as titanium white

it has been used to enhance the

whiteness in opacity of foods for over

50 years however a 2021 study by the

European food safety Authority concluded

that titanium dioxide should no longer

be considered a safe food additive

because it can damage human DNA it's

worth noting that Chinese candies have

also been rejected from the EU multiple

times due to the presence of titanium

dioxide on top of that recent food

safety scandals ranging from cooking oil

to various processed foods have left

people on edge recently a customer even

found a tooth in a fresh meat moon cake

bought from Sam's Club

if even foreign invested companies can't

guarantee food safety in China where can

Chinese people find food they can trust

it's not just the high prices of moood

cakes that are driving people away

though the cost does leave ordinary

folks staring at their thin wallets the

hidden safety concerns are making them

even more fearful leading many to Simply

give up on buying them if people think a

box of mood cakes costing a few dozen or

a few hundred yen is expensive what

about those costing thousands or even

tens of thousands a un a Chinese brand

once released a moon cake priced at

12,888 un and there was another moon

cake with sharkin and Abalone priced at

5,880 in zenjo Hunan one brand sold Muk

case for

8,800 eventually this led to four

Departments of the Chinese Communist

Party jointly issuing a regulation

capping the price of moo cakes at no

more than 500 unen per box even at 500

per box which is about

$70 it's still considered extremely

expensive making moon cakes irrelevant

to Ordinary People and tied more to the

world of capital the Chinese Capital

Market has a unique ability to turn

anything into a financial frenzy whether

it's tea or moon cakes at some point the

mid-autumn festival became a financial

celebration Capital turned moon cakes

from a food item into a financial

product cleverly manipulating China's

giftgiving culture some have even

remarked that this level of

sophistication would make Wall Street

Titans Marvel an ex- account user named

La man posted that moon cakes have

essentially evolved into a type of

Futures Contract primarily used for

bribery the person giving the bribe

purchases a moon cake voucher which acts

as a futurist ticket and gives it to the

recipient the recipient then redeems it

which is the equivalent of settling a

Futures Contract the difference between

the voucher price and the Redemption

price is a profit for for the moon cake

company in this entire process the moon

cake itself doesn't even need to be

produced now with the economy in deep

recession the demand for bribery has

plummeted across Industries leading to a

significant reduction in Muk cake

Futures this drop Cuts directly into

profits leaving many food related

companies in a dire situation A Doan

blogger explained in detail how moon

cakes have been given Financial

attributes

the past few years moon cakes have

stopped being Food meant to be eaten and

have instead turned into vouchers that

can be circulated in the market for

instance a company might only produce

10,000 boxes of moon cakes at a price of

801 per box but will print 100,000

vouchers valued at 498 un each publicly

the company claims that with these

vouchers you can redeem moo cakes worth

498 Yen then they sell 100,000 vouchers

to agents for 400 Yen each and the

agents in turn sell them to Consumers at

the full price of 498 Yen consumers can

now give the voucher as a gift during

the mid-autumn festival without having

to physically deliver the moon cakes

making it both discreet and convenient

when the gift recipient ends up with too

many vouchers they don't actually redeem

them for moon cakes this is where

scalpers come in offering to buy the

vouchers back for 300 each the scalpers

then resell the vouchers to businesses

for 350

throughout this process no moo cakes are

ever exchanged a single voucher circles

through China's giftgiving culture and

eventually lands back in the hands of

the business the business sells it for

400 un and buys it back for 350 earning

50 the agent buys it for 400 un and

sells it for 498 un making 98 un and the

scalper buys it for 300 un and resells

it for 350 un making 50 even the gift

recipient manages to cash in the voucher

everyone seems to walk away Happy the

person who spends 498 un on the moon

cake voucher may seem like the only one

being taken advantage of but in reality

they're exchanging money for the favor

they're giving it's a willing trade on

both sides this kind of elaborate

Financial maneuver was once perfected to

an art but with the arrival of the

economic winter even the financial game

of moo cakes has collapsed it's not just

moon cakes that are struggling to sell

in this tough economy even multi liquor

which is dominant the Chinese market for

years is facing difficulties as a mid-

aumn festival approaches a time in mul

Tha and other high-end Liquors usually

enjoy a sales boom things are looking

Bleak this year the market is unusually

quiet and prices have continued to drop

even the most popular fatan m Thai

series is not exempt from the price cuts

on September 6th today's liquor prices

reported that the hosale reference price

for loose bottles of the 2024 Fen mul

Thai had dropped to

2,365 per bottle while the wholesale

price for a full bottle had fallen to

2595 Yen breaking below the 2,600 un

threshold a liquor store owner in ginan

Shandong told a reporter from high bound

news multi prices will never go up never

he mentioned that on that day his store

was selling mulai in original boxes for

2,600 un per bottle which is a 200 un

drop from the price of 2,800 un just two

weeks ago it's just the usual pre-

holiday release but this year is

different sales are poor there's more

stock than demand so prices can't go up

a longtime multi dealer said this year's

mid-autumn Festival is a disaster multi

prices have dropped continuously for

about a week and sales will likely be

less than half of last year's it's

nothing like the old days where the

phone wouldn't stop ringing and we were

so busy shipping that we didn't even

have time to eat I've been in the multi

bus for 10 years and I've never seen

anything like this this Market is

incredibly tough this year in reality

it's not just mooncakes and mul Tha that

are suffering since August every

industry has been feeling unprecedented

pressure as soon as they hit the shelves

they tanged iced moon cakes molten

Center moon cakes egg yolk pastries none

of them are selling fruit sellers are

also feeling the squeeze nothing is

moving and instead of seeing profits

they're witnessing alarming levels of

spoilage

although August is considered a slow

season even during the slowest times

there would be one or two products that

stood out but this year no matter the

time not a single hot selling item has

emerged for the 2024 mid-autumn Festival

people aren't focus on mooncakes anymore

they're talking about the bigger picture

some are saying that the collapse in

moon cake sales is a reflection of

China's economic future a downturn

lasting 3 to 5 years is part of a cycle

but one lasting 30 to 50 years signals a

final decline the decline in societal

demand is a long-term irreversible Trend

as more people leave the country and

fewer are born demand will sharply

shrink over the next 30 to 50 years this

affects every industry every family and

every individual

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