Digital 1 瑞 家 | 数码家电行业 周度市场观察 第 41 周 2024/9.30-10.6 行业环境 头部品牌动态 投资运营 产品技术 营销活动 01 行业趋势 Industry Trends 本周看点： 大模型走进产业，生产力跃迁正当时； 全球AI服务器市场规模将超1800亿美元； 百度智能云如何成为"央国企严选"？ 行业环境： 1. 大模型走进产业，生产力跃迁正当时 关键词：大模型,云计算,GPU集群,算力平台,百舸4.0 概要：9月25日，2024百度云智大会在京举行，百度集团执行副总裁沈抖发表演讲，强调大模 型与云计算结合正成为新一代基础设施，推动产业升级。为解决GPU集群带来的高额成本和复 杂运维问题，百度智能云推出百舸AI异构计算平台4.0，显著提升算力效率和降低成本。百舸4.0 能在1小时内启动业务，提升大模型训练效率30%，长文本推理效率提升100%，并支持混合芯 片训练。此外，百度智能云还发布了千帆3.0平台，支持应用开发、模型服务和模型开发，降低 开发门槛。会上还推出了曦灵数字人平台4.0、智能云客悦和文心快码等应用。百度智能云正与 各行业伙伴合作，推动大模型技术在各行各业的应 ...

Industry Overview - The winter functional outerwear industry in China has shown steady growth in recent years, driven by the popularity of winter sports and outdoor activities. The market is expected to expand further, with the size of the winter functional outerwear market projected to exceed 300 billion RMB by 2025 [5][24] - Down jackets are the core category in the winter functional outerwear market, with a strong growth trend. The market size for down jackets is expected to surpass 250 billion RMB, supported by national policies promoting ice and snow tourism and sports [24] - The consumer base for winter functional outerwear is becoming younger and expanding into lower-tier markets. The demand for professional windproof and waterproof outerwear is increasing, especially among those participating in skiing and other outdoor activities [5][26] Consumer Insights - The target consumer group for winter functional outerwear is primarily composed of young people aged 18-30, with a significant portion residing in lower-tier cities. Over 56% of consumers have children, indicating a growing trend of family-oriented outdoor activities [49][50] - Consumers prioritize functionality, fashion, and cost-effectiveness when purchasing winter functional outerwear. Key factors influencing their decisions include fabric quality, down filling, and price [19][54] - Social media platforms, particularly KOLs (Key Opinion Leaders), play a crucial role in influencing consumer purchasing decisions. KOLs use strategies such as differentiated product selection, multi-scenario marketing, and authentic user experience sharing to drive sales [45][47] Market Trends - The winter functional outerwear market is experiencing a shift towards more diversified and personalized styles. Popular styles include Korean, mountain, and new Chinese aesthetics, reflecting consumers' increasing focus on individuality and fashion [43][44] - The rise of anti-seasonal consumption, particularly the sale of down jackets in summer, has become a significant trend. This strategy, initially aimed at clearing inventory, has evolved into a marketing tool, though it may impact winter sales [32][70] - Technological advancements in materials and design are driving innovation in the industry. Brands are incorporating new materials like graphene and aerogel, as well as smart wearable technologies, to enhance product performance and user experience [70][71] Competitive Landscape - Leading brands such as Bosideng, Moncler, and Snow Flying are focusing on innovation in both functionality and fashion. Bosideng, for example, has integrated advanced materials like Gore-Tex into its down jackets, while Moncler emphasizes creative aesthetics and sustainability [72][75] - Snow Flying has redefined the "windproof and snowproof" standards for down jackets, offering products that combine high functionality with affordability. The brand's focus on multi-scenario wearability and portability has resonated well with consumers [62][77] - SHEIN has revolutionized the industry with its fast-fashion model, leveraging a flexible supply chain to quickly respond to market trends. The brand's ability to produce new styles in as little as 7 days has significantly reduced inventory pressure and increased efficiency [80] Future Outlook - The winter functional outerwear market is expected to continue its growth trajectory, driven by increasing consumer demand for high-quality, versatile, and stylish products. The integration of technology and sustainability will be key factors in shaping the future of the industry [5][70] - As the market becomes more competitive, brands will need to focus on innovation, user-centric design, and effective marketing strategies to maintain their edge. The expansion of winter sports and outdoor activities will further fuel demand for functional outerwear [24][70]

i Research 发 瑞 智 工具产品欧美市场消费趋势报告 精简版 ©2024 iResearch Inc. ABSTRACTS 摘 要 发展背景：凭借完善的产业体系和供应链规模效应，我国制造业增加值在全球占比超过三成， 位居世界第一，这一产业优势为我国工具产品出海提供了良好的发展基础。在海外市场消费意 愿复苏和建造维护需求增长等有利因素的推动下，2024年工具产品出口规模有望突破新高至 2241亿元，同比增幅高达13.7%。 全球概览：2019年以来全球工具产品保持在500亿美元的规模，2019-2023年均增幅为2.5%， 其中2022年消费者对于高单价耐用品的需求被压制，行业出现阶段性下滑，但这一情况在 2023年得到了修复。未来在基建、商业建筑增量释放、DIY习惯深化和产品迭代需求增加等多 方利好因素的推动下，行业规模有望以4%的年均增速持续扩大，预计将于2024年首次突破600 亿美元。 | --- | |---------------------------------------------------------------------------------------| | | | 核 ...

/Digital 1 瑞 服饰行业 周度市场观察 2024/9.30-10.6 第 41 周 行业环境 头部品牌动态 投资运营 产品技术 营销活动 01 行业趋势 Industry Trends | --- | --- | |-------------------------------------------------------------------------|-------| | | | | 本周看点： | | | 双11前，谁在临阵"出淘"？ 被中产挤爆的特卖会，是否能长出下一个零售巨头？ | | | 做品牌该学 Miu Miu ，想赚钱要学 LV 。 | | 行业环境： 1. 首个鲨鱼裤五维标准发布，行业流行风潮涌向何处？ 关键词：功能性服饰,鲨鱼裤,时尚功能,市场增长,消费者偏好 概要：功能性服饰概念随时代发展不断扩展，如今已融入日常生活，如冲锋衣、鲨鱼裤等。鲨 鱼裤源自专业运动领域，现成为集时尚、休闲、运动于一体的多功能时装裤，市场增长迅速， 品牌SIINSIIN表现突出。但市场存在产品质量参差不齐的问题，为此，《中国鲨鱼裤行业白皮 书》发布，提出安全性、高弹性、凉感/暖感、防护性、耐穿性 ...

/Digital 第 41 周 1 Call 瑞 2024/9.30-10.6 酒行业 周度市场观察 行业环境 头部品牌动态 投资运营 产品技术 营销活动 01 行业趋势 Industry Trends | --- | --- | |---------------------------------------------|-------| | | | | 打破自我设限，敢问保健酒、露酒"路"在何方？ | | | 被"催熟"的酒业"智"造； | | | 国产威士忌产量首超进口 白酒企业竞相跨界。 | | 行业环境： 1. 打破自我设限，敢问保健酒、露酒"路"在何方？ 关键词：保健酒,露酒,市场规模,产品结构,行业标准 概要：保健酒/露酒（含配制酒）作为传统酒类产品，目前面临市场规模小、产品结构低、增长 停滞等问题。2023年市场规模不到200亿，其中百元以下产品占比超70%，且品类内仅有少数 品牌营收过亿。对比白酒市场的7563亿规模，保健酒/露酒占比仅2%。行业标准参照药酒设定， 导致产品大众低端化，缺乏高端形象。同时，行业龙头未能推动产品结构升级和市场扩张。为 打破局限，需抓住健康意识提升的趋势，拓展全价 ...

/Digital 1 瑞 食品饮料行业 周度市场观察 第 41 周 2024/9.30-10.6 行业环境 头部品牌动态 投资运营 产品技术 营销活动 01 行业趋势 Industry Trends 本周看点： 低温酸奶，盯上益生菌; 翻红的"中药餐饮"，收割新一波年轻韭菜; 瓶装水激战上游产能，农夫山泉到今麦郎都疯狂扩建。 行业环境： 1. 日本伴手礼如何打开财富密码，让私房烘焙店追捧 关键词：伴手礼,烘焙,小而美,精致化,减糖 概要：日本伴手礼文化在烘焙领域展现出多样化特色，尤其是其"小而美"的设计理念，通过 精致的包装和独立分装等方式，激发了消费者的购买欲望。日本的烘焙伴手礼如曲奇、马卡龙 等常温点心，因保质期长且便于批量生产而广受欢迎。在国内，私房烘焙店也纷纷推出限量版 伴手礼，这类礼品兼具文化韵味与实用性，提升了消费者购买意愿，并为烘焙店带来了新商机。 中式烘焙伴手礼则注重减糖与适口性，强调健康理念，并借鉴日本的精致包装，融入国潮元素， 突出文化特色。从伴手礼风潮中可以看出，新中式烘焙正逐渐兴起，地域特色与文化内涵成为 重要趋势，同时个性化与定制化服务也成为烘焙行业的新增长点。 2. 原文链接：ht ...

Industry Overview - Digital cultural space is defined as a space where human activities are defined in digital form, extending from Earth to outer space, creating various application scenarios [4] - Digital technology transforms or creates new spaces, expanding human perception and understanding of the world through binary data processing [6] - Digital cultural spaces are categorized into two major types: digitally transformed traditional cultural spaces and newly created virtual cultural spaces, each with subcategories based on cultural significance and spatial dependency [8] Industry Drivers - The demand for cultural activities and spaces drives the need for digital cultural spaces, with technological advancements and policy support accelerating their development [10] - Digital technology has been integrated into the transformation of physical cultural spaces and the creation of virtual cultural spaces, enhancing human cultural exchange [13] - National policies, such as the "Metaverse Industry Innovation and Development Three-Year Action Plan (2023-2025)," support the application of digital cultural spaces in tourism, cultural venues, and public services [16][17] Industry Analysis - The digital cultural space industry involves multiple sectors, including cultural content IP, creative design, operation services, and technical support, representing a deep integration of cultural creativity and digital technology [19] - Traditional cultural spaces are being digitized to enhance user experience, protect cultural heritage, and expand IP applications, with significant progress in tourism, museums, and performance arts [23][25] - The number of immersive experience projects in smart tourism has increased, with 42 pilot projects selected in 2024, covering digital tourism, digital performances, and digital exhibitions [23] - The tourism performance market has seen significant growth in 2023 compared to 2019, with increases in the number of performances, audience size, and box office revenue, indicating the positive impact of digital transformation [27][28] Case Study - The Forbidden City has been a pioneer in digital transformation, offering both offline and online experiences through MR devices and virtual tours, enhancing visitor engagement [34][35] - "Tang Dynasty Everbright City" has become a model for open scenic area digital transformation, leveraging digital technology to boost tourism and night-time economy [36][37] - "The Lost Pharaoh" is a landmark project in offline large-scale digital cultural spaces, offering immersive historical experiences and expanding the audience beyond traditional gaming demographics [40] - "Fortnite" has extended its virtual game space to host cultural events, such as virtual concerts, setting new records for audience participation and redefining the scope of virtual cultural spaces [41] Development Trends - Cultural content will serve as a bridge between physical and virtual digital spaces, with traditional cultural spaces providing high-quality cultural materials for virtual spaces [44] - Advancements in digital technology, such as AI, XR, and AR, will enhance the interactivity and immersion of digital cultural spaces, improving user experience [46] - The integration of innovative technologies and business models will be key to realizing the social and commercial value of digital cultural spaces, with AIGC potentially revolutionizing content production and interaction modes [48]

| --- | --- | --- | --- | --- | --- | |-------|--------------------------------------------------------------------|-------|-----------------------|-------|-------| | | | | i Research \n艾 瑞 塔 | 询 | | | | 云服务行业动态及热点 研究月报-2024 年 9 月 ©2024.10 iResearch Inc. | | | | | 本月摘要 1 1 综合摘要 本报告长期监测数据中心、基础云、SaaS、行业云等赛道动态，基于对 2024 年 9 月各 行业的观察，得出以下观点： 在政策新闻梳理中，本月政策的关注点包括：1）加强对新型信息基础设施协调发展， 强调对算力基础设施的强化与合理布局；2）推进移动物联网、AI 等技术的发展，多地方政 府推出前瞻行动计划，鼓励科技创新带动实体经济产业增长。 在重点新闻扫描上，在数据中心建设领域，扩容步伐持续前行，"智算"仍是本月数据中 心发展的关键词，一批智算中心相继投入使用，另有 ...

Industry Overview - The global Robotaxi industry is transitioning from technical validation to commercial operations, with the US showing a more open attitude towards commercialization, while China follows a gradual development path [4] - In 2023, California registered 1,603 autonomous test vehicles, which collectively drove 9.26 million kilometers in autonomous mode. The primary issues causing disengagements have shifted from perception to predicting the behavior of traffic participants [6] - In Beijing, 38 companies conducted autonomous vehicle road tests by the end of 2023, with cumulative test mileage exceeding 38.93 million kilometers. The city has expanded its testing scenarios to include special weather conditions, unmanned operations, and highway testing [8] Commercialization Progress - The commercialization of Robotaxi is evaluated based on four key dimensions: policy, technology, business/profit models, and market acceptance [14] - Policies are evolving in a spiral manner, with local subsidies accelerating the industry's growth. The industry is expected to reach a significant commercialization milestone between 2027 and 2028 [17] - The "Golden Triangle" model, involving technology companies, OEMs, and ride-hailing platforms, has proven to be the most viable business model. The involvement of state-owned platforms could further enhance the stability and replicability of this model [43] Technological Advancements - Multi-sensor fusion remains the dominant technical solution for Robotaxi, with hardware costs decreasing as sensor configurations are optimized. For example, Baidu's sixth-generation vehicle has reduced costs to 204,600 RMB [32] - Non-end-to-end technology has limitations in scalability, while end-to-end architectures are seen as the core technology for large-scale deployment in the medium term. However, challenges remain in adapting these models to unknown scenarios [35][36] - World models, which enhance the machine's ability to understand physical laws and predict future scenarios, are emerging as a key technology to improve the safety and flexibility of Robotaxi [38] Market Acceptance - Over 70% of consumers are aware of Robotaxi, but there is limited brand association with specific companies. Safety remains the top concern for 73.2% of consumers, followed by ride experience and pricing [53][63] - Approximately 70% of consumers are willing to try Robotaxi, with the lack of clear emergency handling protocols being a major deterrent. Expanding operational areas and increasing vehicle numbers could further boost consumer willingness [66] - Nearly half of consumers (46.9%) hold a rational and optimistic view, believing that Robotaxi will eventually become widespread but will take time to mature [67] Future Projections - The Robotaxi industry in China is expected to enter a rapid growth cycle around 2028, driven by advancements in policy, technology, and market acceptance. By then, the industry is likely to achieve regional profitability and significant cost reductions through mass production [74][75] - Ethical challenges, such as the "trolley problem," remain unresolved but are not expected to hinder the development of autonomous vehicles. Public perception and behavior often diverge, highlighting the complexity of societal acceptance [76]

Investment Rating - The report does not explicitly state an investment rating for the consumer finance industry Core Insights - The consumer finance industry in China is experiencing a rebound in growth, with the narrow consumer credit balance exceeding 20 trillion yuan in 2023, driven by the recovery of internet finance platforms and increased lending by banks [10][19] - The penetration rate of narrow consumer credit has nearly tripled from 2014 to 2023, reaching 33.6%, indicating a growing willingness among users to utilize consumer finance products [14][19] - The overall leverage ratio of residents has remained stable, with a slight increase in 2023, while the growth of consumer loans has slowed down, suggesting a cautious borrowing behavior among consumers [8][17] - The internet consumer finance sector is primarily driven by traditional financial institutions' digital transformation, with online penetration rates for narrow consumer credit reaching 72.8% in 2023 [21][20] - The contribution of assistive lending to the industry is declining, with its share falling below 50%, indicating a shift towards more sustainable lending practices [23] Summary by Sections 1. Overview of Consumer Finance Industry Scale - The narrow consumer credit balance in China reached 20.5 trillion yuan by the end of 2023, with a projected compound annual growth rate (CAGR) of 5.5% until 2028 [10][11] - The growth of the internet consumer finance sector is supported by banks increasing low-interest personal loans and the online transformation of consumer finance companies [19][21] - The overall leverage ratio of residents has increased slightly, indicating a stable borrowing environment despite economic challenges [8][17] 2. Development Pattern of Consumer Finance Industry - The market share of credit cards has decreased to 42% in 2023, while the share of non-credit card narrow consumer credit has increased significantly [26][30] - The competition among various entities in the consumer finance market is intensifying, with banks reducing reliance on internet finance platforms [37][40] - The industry is witnessing a decline in concentration, with the gap between the top five and top ten companies narrowing, indicating a more competitive landscape [40][41] 3. Special Topic: Consumer Finance Companies - The entry barriers for consumer finance companies have been raised, with no significant increase in new licenses expected in the near future [44][45] - Existing consumer finance companies show significant variation in business scale and qualifications, but they share similarities in business models and user positioning [47][50] - The market share of consumer finance companies is expected to grow, driven by banks' focus on non-housing retail financial services and regulatory support [50][51]