consumption upgrade or consumption downgrade is a controversial topic. in recent years, with the full liberalization of the consumer market, consumption behavior has shown a trend of diversification. on the one hand, the market value of e-commerce platforms like pinduoduo has increased significantly, and brands like mixue bingcheng have opened a large number of stores, which seems to imply that consumption is shifting to lower-end fields. on the other hand, some brands have achieved significant growth in the high-end market. for example, last year, amafin group's revenue in the chinese market soared by 61%, and sam also announced that he would accelerate the opening in china...