新消费行业周报（2026.2.23-2026.2.27）：老铺黄金官宣2月底调价；淘宝闪购加大投入力度-20260228

Investment Rating - The investment rating for the industry is "Positive" (maintained) [4] Core Viewpoints - The report highlights the ongoing price adjustments by Lao Pu Gold, which is expected to maintain high gross margins due to the rising gold prices, with a year-to-date increase of 15% as of February 27, 2026 [5] - Taobao Flash Sale is increasing its investment, with a focus on instant retail, which is anticipated to benefit the tea beverage sector, particularly brands like Gu Ming and Mi Xue Group [5] - The recent submission of the prospectus by Han Mu Hua Tian for listing on the Hong Kong Stock Exchange indicates the company's growth in the personal care market, where it holds leading positions in several categories [5] - The report emphasizes the importance of understanding new consumer narratives to capture growth opportunities in emerging consumer goods, recommending attention to high-quality domestic brands in beauty care, gold jewelry, trendy toys, and ready-to-drink tea [5][19] Summary by Relevant Sections Industry Performance - The new consumption sector saw a weekly performance with the beauty care index up by 1.45%, while the retail index decreased by 1.64% [8] Key Industry Data - Retail sales in the cosmetics category increased by 8.8% year-on-year, while gold and silver jewelry retail sales rose by 5.9% [11][12]