商贸零售行业周报：双十一周期延长，平台聚焦营商环境优化

Investment Rating - The report maintains an "Accumulate" rating for the retail industry [2] Core Insights - The 2024 Double Eleven shopping festival has an extended duration, with e-commerce platforms focusing on optimizing the business environment. Major platforms like Tmall, JD, Pinduoduo, and Douyin are implementing various promotional strategies and financial incentives to support merchants and enhance consumer engagement [10][11] - In physical retail, companies are returning to the essence of retail by focusing on product quality, pricing, and service. Notable examples include Sam's Club, which has expanded its store count significantly, and Yonghui Supermarket, which has successfully revamped its store operations [11][12] Summary by Sections 1. Core Insights of the Week - E-commerce platforms are enhancing the shopping experience and reducing operational costs for merchants through various initiatives, including promotional activities and financial support [10][11] - Physical retailers are focusing on product quality and stable pricing to regain consumer trust, as demonstrated by the success of Sam's Club and Yonghui Supermarket [11][12] 2. Industry Dynamics 2.1. Market Performance - During the period from October 8 to October 11, 2024, the Shanghai Composite Index fell by 3.25%, while the retail sector declined by 6.14%, underperforming the index by 2.89 percentage points [13] 2.2. Stock Performance - Among 104 companies in the retail sector, 11 stocks rose while 93 fell, with notable declines in Yonghui Supermarket and Huazhi Wine [17] 3. Industry Tracking 3.1. Industry Data Tracking - In August, the total retail sales of consumer goods reached 38,726 billion yuan, growing by 2.1% year-on-year, with online retail showing resilience [23][25] 3.2. Industry News - Walmart is testing a fully digital Sam's Club store in the U.S., showcasing innovative retail strategies [32] - JD's fresh food business has opened its first front warehouse in Beijing, aiming for rapid delivery [33] 4. Company Announcements - Yonghui Supermarket has filed for arbitration regarding a share transfer agreement, seeking significant financial compensation [38]