3 6 Ke·2026-01-13 02:34Core Viewpoint - The article discusses the evolving consumer behavior in China, contrasting it with Japan's "lost three decades," emphasizing a trend towards selective consumption upgrades rather than a decline in consumption quality [1][2]. Group 1: Consumer Behavior Trends - The Chinese online consumption brand index (CBI) reached 62.65 in Q3 2025, showing a 4.4% increase year-on-year and a 0.92% increase compared to the same quarter in 2024, indicating a stable growth in consumer preference for high-quality brands [2][4]. - The CBI reflects the proportion of consumers purchasing high-quality branded goods, suggesting that consumers are not entering a "consumption menopause" but are instead actively seeking quality [3][4]. - The trend of "selective consumption upgrade" is evident, where consumers pursue cost-effectiveness for necessities while being willing to pay a premium for emotional and experiential products [5][6]. Group 2: Brand Performance and Market Dynamics - Brands like DJI and Pop Mart have shown significant growth, with DJI entering the top ten for the first time, indicating a shift towards innovative products that create new demand rather than relying on price competition [7][16]. - The CBI report highlights that brands achieving high scores are not necessarily those known for low prices but those that create unique experiences and emotional value for consumers [7][18]. - The report indicates a seasonal pattern in consumer behavior, with higher CBI scores during promotional periods, but the third quarter's performance reflects a solid foundation for brands in non-promotional times [12][14]. Group 3: Platform Strategies and Market Evolution - E-commerce platforms like Taobao are shifting their focus towards supporting quality brands and original merchants, moving away from price wars to fostering product quality and service [24][25]. - The growth in the CBI index is attributed to a strategic shift in platform policies that encourage brands to enhance their value proposition rather than compete solely on price [25][26]. - The article emphasizes that a market balanced between daily sales and promotional periods is more resilient, indicating that brands are building long-term value rather than relying on short-term sales spikes [26][28].