大消费行业周报（4月第3周）：促消费政策助力社零稳步改善-20250421

Investment Rating - The report indicates a positive outlook for the consumer sector, suggesting a gradual improvement in the fundamentals of the industry in 2025 [2][4]. Core Viewpoints - The consumer sector has shown a steady recovery, with March retail sales increasing by 5.9% year-on-year, driven by effective policies such as the trade-in program [4]. - The report highlights the importance of government policies in boosting domestic consumption, especially in the context of ongoing trade tensions [4]. - The report emphasizes the potential for growth in various segments, including duty-free, emotional consumption, and tourism-related industries [4]. Summary by Sections Market Weekly Review - The consumer sector experienced an overall increase, with textile and apparel, beauty care, food and beverage, retail, home appliances, and social services showing weekly gains of +1.57%, +0.43%, +0.24%, +0.24%, +0.18%, and +0.14% respectively [4]. - Notable stock performances included Anji Food (+50.00%), Haidar (+17.38%), and Guoguang Chain (+61.10%) [4]. - March retail sales reached a total of 5.9% year-on-year growth, with significant contributions from essential consumer goods [4]. Industry News and Key Company Announcements - The Ministry of Commerce and other departments released a work plan focusing on enhancing service consumption, proposing 48 specific measures to improve service quality and stimulate consumption [4][15]. - Companies like Juewei Foods and Encounter Small Noodles are expanding rapidly, with Encounter Small Noodles achieving a compound annual growth rate of 66.2% from 2022 to 2024 [15][16]. - The report notes that the trade-in policy has significantly boosted sales in home appliances, with over 35.7 million units sold, generating sales of approximately 124.7 billion yuan [4][17].