商贸零售行业周报：微信小店“送礼”功能延伸，关注春节裂变机会

Investment Rating - The report maintains a positive outlook on the e-commerce sector, particularly highlighting the potential of WeChat's new gifting feature to drive growth during the upcoming Spring Festival [3][38]. Core Insights - The WeChat Store has launched a "gift-giving" feature, expanding its product categories and enhancing social interaction among users, which is expected to stimulate sales during the festive season [3][6][11]. - The social commerce model of WeChat Store is evolving, allowing merchants to connect with users across various WeChat platforms, thereby increasing visibility and sales opportunities [6][7]. - The report emphasizes the potential for social viral growth through the WeChat "blue envelope" feature, which could replicate the success of WeChat red envelopes and further penetrate the social e-commerce market [11][18]. Summary by Sections Industry Overview - The social service index decreased by 8.60%, while the retail index fell by 5.66% during the period from December 30, 2024, to January 3, 2025, ranking 25th and 11th respectively among the Shenwan first-level industries [3][19]. WeChat Store Developments - The WeChat Store's "gift-giving" feature was officially launched on December 19, 2024, initially supporting products priced under 10,000 yuan, with further expansions planned [6][7]. - The WeChat Store has integrated various WeChat ecosystem features, allowing merchants to leverage their existing traffic from public accounts and video accounts to drive sales [6][7]. Market Performance - The report highlights significant individual stock movements within the retail sector, with East Hundred Group rising by 46.54% and Gao Xin Retail falling by 29.02% during the observed period [22][26]. - The report suggests that the upcoming Spring Festival will create a surge in demand for gifting, positioning WeChat Store to capitalize on this trend [18][38]. Investment Recommendations - The report recommends focusing on e-commerce stocks such as Alibaba, JD.com, Pinduoduo, and Tencent Holdings, as well as jewelry brands like Zhou Daxing, Lao Fengxiang, and Chao Hongji that are well-suited for gifting during the Spring Festival [3][38].