China's thermos cup sails to sea

Today we are going to talk about a small item that seems ordinary but actually hides huge business opportunities -a thermos cup. Yes, you heard it right, it’s the little gadget that holds coffee, tea, and even wolfberry.

Recently, this little guy has become very popular in overseas markets, especially the sales of YETI and Stanley brands in North America have exploded, attracting everyone's attention to the overseas business of thermos cups.

Come, let's take a look at a set of data first.

YETI's latest financial report shows that as of the end of 2023, full-year revenue reached US$1.659 billion, a year-on-year increase of 4.01%.

Net profit reached an astonishing US$170 million, a year-on-year increase of 89.54%.

Especially their cup and pot products, revenue exceeded the US$1 billion mark, with new product growth rates as high as 12%.

Moreover, China is also the world’s largest exporter of stainless steel vacuum cups!

From 2017 to 2023, the export value increased from US$1.273 billion to US$2.137 billion, with strong growth momentum.

It seems that the thermos cup has really become another bright business card made in China.

So, why are thermos cups so popular in overseas markets? First of all, it benefits from the high maturity of the foreign outdoor industry.

Whether picnicking, camping or fishing, insulated gear has become the "standard" for American outdoor activities.

Secondly, brands such as YETI and Stanley have expanded the use of thermos cups into daily life through youth strategies, becoming part of fast-moving consumer goods and meeting people's social and emotional needs.

For Chinese companies, the craze for overseas thermos cups also brings huge opportunities.

The journey of the thermos cup overseas is not only a microcosm of Chinese enterprises going global, but also a vivid example of the continuous improvement of the competitiveness and influence of Chinese manufacturing in the global market.

As overseas demand continues to grow, the domestic cup and pot supply chain has entered a new growth cycle, heralding new opportunities for Chinese companies on the global stage.

Let us wait and see how Made in China will shine more dazzlingly in the global market!