银河证券：以新需求引领新供给，就是要大力发展新消费

Core Viewpoint - The report from Galaxy Securities emphasizes the importance of developing new consumption driven by changing demographics and consumer attitudes, positioning it as a significant growth point in the market [1] Group 1: New Consumption Trends - New consumption is rapidly developing and has become a focal point in the market due to changes in population structure and consumer concepts [1] - Emotional consumption is identified as a key direction for new consumption development, leading to the emergence of new consumption sectors such as trendy toys, outdoor activities, pet economy, traditional gold ornaments, and beauty products [1] - The pursuit of quality-price ratio has resulted in the rise of new products like beverages and leisure snacks [1] Group 2: Social and Cultural Shifts - There is a need to embrace and guide new consumption with an open mindset, as evidenced by the shared consumption of trendy toys and anime culture among both middle-aged and young consumers, which is now a social phenomenon [1] - Non-professional sports events, such as Guizhou Village Super League, Jiangsu Super League, and Guangzhou Dragon Boat races, break conventional norms and provide better emotional value, stimulating local traffic and service consumption [1]