轻工纺服行业周报：社交电商新突破，微信小店“送礼物”功能赋能商家营销

Investment Rating - The industry rating is "Buy" [1] Core Insights - Social e-commerce has rapidly developed into a significant force in the e-commerce sector, leveraging social platforms for product promotion and sales, characterized by social interaction and precise marketing [1][21] - The introduction of the "Gift" feature by WeChat Mini Store simplifies the gifting process, enhancing user experience and providing new sales opportunities for merchants, particularly for giftable products [1][24] - The market size of social e-commerce in China has grown from 683.58 billion yuan in 2017 to 7.8 trillion yuan in 2022, with user numbers increasing from 473 million to 880 million during the same period [1][21] Summary by Sections Industry Overview - Social e-commerce has shown strong growth, with a market size increase from 683.58 billion yuan in 2017 to 7.8 trillion yuan in 2022, reflecting a robust growth trajectory [1][21] - The user base for social e-commerce expanded from 473 million in 2017 to 880 million in 2022, indicating significant market potential, especially among younger consumers [1][21] WeChat Mini Store "Gift" Feature - The "Gift" feature allows users to send products directly through WeChat, streamlining the gifting process and reducing psychological barriers for users [1][24] - This feature opens new sales channels for merchants, particularly for products with gift attributes, enhancing brand exposure and reducing operational costs [1][24] Market Trends - The government is actively promoting the development of new business models, including social e-commerce, as a key driver for economic growth and consumption upgrade [1][22] - Policies supporting the integration and transformation of social e-commerce are included in the "14th Five-Year Plan," emphasizing the importance of this sector in stimulating economic recovery [1][22]