平安消费精选混合基金经理丁琳：把握精神消费、性价比消费和品牌出海投资主线

Core Viewpoint - The investment strategy conference held by Ping An Fund highlighted the transformative changes in the consumer market, presenting diverse investment opportunities in the new consumption sector by 2025 [1] Group 1: Consumer Trend Outlook - Three key areas of focus for medium to long-term consumer trends are identified: spiritual consumption, cost-effective consumption, and the international expansion of consumer brands [2] - Spiritual consumption is a significant trend, with the collectible toy market exemplifying this shift as consumer demand moves from material to spiritual needs [2] - Cost-effective consumption is driven by a slowing economy, leading consumers to be more budget-conscious, with new retail formats like discount snack stores emerging to meet this demand [2] - The international expansion of consumer brands is becoming crucial as Chinese companies seek to leverage their domestic success in global markets [2] Group 2: New Consumption Investment Opportunities - Key investment opportunities in the new consumption sector include collectible toys, snack foods, domestic cosmetics, personal care products, and gold jewelry [3][4][5] - The collectible toy market is experiencing robust growth, with a global market size of 773.1 billion yuan in 2023, and China holding only a 14% share, indicating significant room for growth [3] - The snack food retail market is projected to reach 37,380 billion yuan by 2024 and 49,477 billion yuan by 2029, driven by the rise of discount snack stores that enhance consumer experience and efficiency [4] - The domestic cosmetics market is expected to reach 537.2 billion yuan by 2024, with local brands gaining traction in international markets through improved quality and branding [4] - The gold jewelry sector is benefiting from rising gold prices, with low-weight products becoming popular among consumers, and traditional gold craftsmanship adding cultural value to products [5]