轻工纺服行业周报：双十一收官户外品类高涨，关注政策催化内需修复

Investment Rating - The industry investment rating is "Increase" (maintained) [1] Core Viewpoints - The light industry sector is expected to improve due to favorable policies stimulating real estate recovery and the effectiveness of the old-for-new policy, leading to increased consumer enthusiasm [1] - The home furnishing sector has seen significant sales growth driven by the old-for-new policy, with retail sales of furniture increasing by 7.4% year-on-year in October [1] - The paper and packaging industry is entering a peak season, with paper companies raising prices, indicating potential profit growth in the fourth quarter [1] - The textile and apparel sector is experiencing a weak recovery in consumer sentiment, with outdoor economy boosting sales of sportswear [4][5] - The cross-border e-commerce sector is rapidly growing, with significant contributions from platforms like TikTok Shop, indicating a strong export potential for Chinese goods [7][8] Summary by Relevant Sections Light Industry - The light industry is benefiting from policies that enhance consumer confidence and stimulate demand, particularly in home furnishings [1] - Retail sales of furniture and home appliances have shown positive growth, with significant increases noted in October [1] Textile and Apparel - The textile and apparel sector is seeing a recovery in retail sales, with a year-on-year increase of 1.1% in the first ten months of 2024 [6] - The outdoor sportswear market is thriving, with notable sales growth during the Double Eleven shopping festival [5] Cross-Border E-commerce - The cross-border e-commerce market is experiencing rapid growth, with significant increases in transaction volumes on platforms like TikTok Shop [7][8] - The export of goods is expected to remain robust, supported by favorable logistics and increased demand during peak shopping seasons [8]