In 2019, Pinduoduo, which had made a blockbuster debut, saw its growth momentum slow. Customer acquisition costs hit 197 yuan in the first quarter of 2019, a record high, while net new users numbered just 24.8 million—a historical low.
Products can generally be categorized into two types: the fear of missing out and the thrill of gaining something new.
With an annual fishing frequency of 4 or more times (likely corresponding to 4+ purchases of fishing gear), there are 140 million fishing enthusiasts, about 70 million of whom are aged 25–44—almost all male.
What people want isn't the truth—they want what they believe to be the truth. What they want to consume isn't valuable content, but just something they can easily understand.
The phrase "the higher the art, the fewer the admirers" means exactly this: the fewer people who can grasp your work, the harder it becomes to win over an audience.