11月电商数据分析：多品类线上延续良好销售表现，关注酒类及休闲零食

Investment Rating - Investment rating for the food and beverage industry is "Positive" (maintained) [2] Core Viewpoints - The report highlights a positive trend in online sales across multiple categories, particularly in alcoholic beverages and snacks, indicating a recovery phase in consumer demand [7] - The report emphasizes the growth in online sales for various segments, including liquor, snacks, and staple foods, with specific brands showing significant performance variations [4][5][6] Summary by Category Alcoholic Beverages - Online sales for the liquor industry reached 3.01 billion yuan in November 2024, a year-on-year increase of 3.8%, with sales volume up 10.3% and average price down 5.8% [4][19] - Domestic liquor sales performed well, with a year-on-year increase of 5.4%, accounting for 85.1% of total liquor sales [19][21] - Leading brands like Wuliangye saw a sales increase of 527.3%, while Kweichow Moutai experienced a significant decline of 61.5% [25][31] Snacks - The online sales for the snack industry reached 3.41 billion yuan in November 2024, reflecting a year-on-year growth of 5.9%, despite a 1.8% decline in sales volume [5][42] - Chocolate products showed strong performance with a year-on-year increase of 17.2% [42] - Leading brands such as Three Squirrels reported a sales increase of 9.8%, while competitors like Baicaowei and Liangpinpuzi faced declines of 26.1% and 25.4%, respectively [47][50] Staple Foods - The staple food sector saw online sales of 3.25 billion yuan in November 2024, marking an 8.3% year-on-year increase, driven by a 17.8% rise in sales volume [5][60] - The rice and grain segment performed particularly well, with a year-on-year increase of 33.5% [60] - The convenience food category accounted for 29.0% of total sales, indicating a strong consumer preference [63] Dairy Products - The dairy sector's online sales reached 1.38 billion yuan in November 2024, with a year-on-year growth of 5.0% [6][30] - Low-temperature processed milk showed remarkable growth, increasing by 226.7% year-on-year [6][31] Beverages - The packaged beverage sector reported online sales of 580 million yuan in November 2024, reflecting a 16.0% year-on-year increase, with carbonated drinks showing a significant growth of 55.6% [6][44]