以下文章来源于表外表里 ，作者洞见数据研究院 表外表里 . 洞见数据研究院 将投中网设为"星标⭐"，第一时间收获最新推送 "补贴一停，全部归零。" 作者丨 刘钰民 编辑丨 曹宾玲 来源丨 表外表里 站岗 10 小时不准碰手机，坐下歇会儿扣 20 元，一天擦无数次吧台，手都皴裂了还被嫌"太悠 闲"…… 淡季到了，奶茶店员舟舟反而更累了。店里裁到只剩她一个人， 硬是掰成两个用， 老板还天天来找 茬，她想不明白逼走自己对老板有什么好处。 茶饮店主王洁，却能体会那份焦虑与无奈： "补贴一停，全部归零。" 三个月前，她还 在抱怨忙到没时间吃饭 ， 踏进 秋冬，生意 像 坐 过山车般俯冲 。 顾客都走到门 口了， 看到 恢复原价的奶茶扭头就走 ， 单量相比外卖大战时 "膝盖斩"，日营业额屡屡跌破1000 元"盈亏警戒线"。 要命的是，在订单狂飙的那两三个月里， 她也没挣到几个钱。业绩再这么垮下去，怕是 撑不过 这 个 冬天 。 跟王洁境遇相似的商家，不在少数。据 GeoQ Data 数据，今年国内连锁茶咖品牌净增门店数量快 速攀升，仅三季度便开出新店 2.6万家，同比去年几乎翻番。 如果说现在投身茶咖行业等于 "进场 当 ...

央广网北京11月11日消息（记者韩萌 曹博）据中央广播电视总台中国之声报道，作为已步入第十 七个年头的全民消费盛宴，"双11"早已成为深入人心的年度购物狂欢。"史上最长"几乎已成每年"双 11"的固定主题，今年的购物节周期再度刷新纪录，自中秋国庆假期刚结束就鸣枪开跑，促销活动将持 续至11月14日晚，超长待机三十多天。"双11"为何启动得越来越早？时间越来越久？超长促销周期又给 各方带来哪些影响？今年的"双11"呈现出哪些新特点？ 江西吉安的朱女士是一名网购爱好者，每年"双11"都是她的"年度采购窗口期"。她告诉记者，早几 年的"双11"她都会提前一个月把要买的东西加购，并定闹钟在当天进行抢购，但随着购物节时间越来越 长，这两年的"双11"仅是购买一些"即时刚需"物品。 朱可纯说："以前'双11'会比较注重'囤东西'，还要经常去凑单，但是现在由于活动多了，不会像以 前一样买到就是赚到了，就没那种热情了。这次'双11'期间，我想起来就买，要买也是买一些刚需的， 不会去囤货了。" 河南新乡的唐女士是"双11"购物节的"忠实参与者"，今年她主要购置了一些护肤品，并为家里添置 了两件家电。她说，促销时间变长也让她有了 ...

Core Insights - The article discusses the significant disparity in consumer spending power between China and the United States, highlighting that despite China's larger population, its overall consumption capacity is far lower than that of the U.S. [4][6][14] Economic Comparison - As of 2025, the average annual consumption in the U.S. is approximately $17.8 trillion, while China's retail sales total around 50 trillion RMB, indicating a nearly sixfold difference in per capita consumption levels [4][6]. - In 2024, household consumption accounted for only 39.9% of China's GDP, compared to 67.9% in the U.S., underscoring the weaker role of consumption as an economic driver in China [6]. Income Disparity - The nominal disposable income per capita in China is about 32,509 RMB, while in the U.S. it is approximately 4.42 million RMB, showing a tenfold difference. However, when adjusted for purchasing power parity (PPP), the actual income gap narrows to about four times [6][7]. Savings Behavior - China's household savings rate is significantly higher, ranging from 36% to 45%, with a projected rate of 43.4% in 2024, compared to the U.S. savings rate of around 17.8% [7][8]. - Young adults in China aged 25-35 save an average of 28% of their income, contrasting sharply with their American counterparts who save only 8% [7]. Cost of Living Pressures - High housing prices in China, with a price-to-income ratio of 15-20 times in first-tier cities, create substantial financial burdens that limit disposable income for consumption [8][9]. - Healthcare costs in China require individuals to cover about 30% of their medical expenses out-of-pocket, compared to only 11% in the U.S., further straining household budgets [9]. Education Expenses - Chinese families allocate about 25% of their total expenditure on education, significantly higher than the 6% spent by American families, indicating a heavy financial commitment to children's education [9][10]. Income Structure - In China, wage income constitutes 57.8% of disposable income, while in the U.S., financial income sources contribute over 20%, allowing Americans more flexibility in spending [10]. Consumption Attitudes - Traditional Chinese values emphasize frugality and saving, with over 65% of younger generations viewing "premature consumption" as irrational [11][12]. - In contrast, American culture promotes living in the moment, with a strong emphasis on consumer experiences and a well-developed credit system that encourages spending [12]. Service Sector Development - The service sector in the U.S. accounts for about 78% of GDP, compared to 56% in China, indicating a more developed consumer service environment that enhances spending opportunities [12][13]. Demographic Factors - China's aging population, with 14.9% over 65 years old, tends to consume less, focusing more on healthcare and savings [13]. - Urban-rural income disparities are significant, with urban residents earning an average of 42,991 RMB compared to 17,686 RMB for rural residents, affecting overall consumption capacity [13]. Emerging Trends - By 2025, service consumption in China has surpassed 40%, indicating a shift towards service-oriented spending [15]. - The younger generation (under 35) is driving a consumption growth rate 1.5 times higher than the overall market, with a focus on quality and experience [16]. - New consumption channels, such as live-streaming and social e-commerce, are rapidly growing, with sales increasing over 30% year-on-year [17]. - Consumer finance is becoming more prevalent, with a 22.3% increase in consumer credit balances, indicating a growing acceptance of credit among younger consumers [18]. - Rural consumption is on the rise, with a 6.0% increase in income, leading to a shift in spending patterns towards durable goods and quality products [19].

Core Insights - The most significant change in consumer spending over recent years is not the amount spent, but a shift in consumption mindset [1] Group 1: Changes in Consumer Behavior - Consumers are now more willing to invest in experiences such as travel, performances, gourmet food, and fitness, rather than just material goods [1] - There is a growing trend towards spending on smart appliances, indicating a preference for technology and innovation in purchases [1] - The approach to knowledge payment has become more rational and focused, reflecting a shift in how consumers value information services [1] Group 2: Attitude Towards New Energy Vehicles - Previously, consumers were hesitant about new energy vehicles due to concerns over range, safety, and resale value; however, personal experiences have led to a more favorable view [1] - The advantages of new energy vehicles in terms of cost of use, driving experience, and intelligence have prompted consumers to recommend them to others [1] Group 3: Rational Spending - While consumers are willing to pay for intelligence, service, and experiences, spending has become more rational and streamlined, aiming for value [1] - Consumers seek to balance quality of life with spending wisely, ensuring that expenditures are justified and meaningful [1]

Core Viewpoint - The decline in gold prices has not spurred consumer interest in purchasing gold in China, indicating a shift in consumer behavior and market dynamics [1][3][5]. Group 1: Consumer Behavior - Historically, gold has held significant value in Chinese culture, symbolizing wealth and good fortune, leading to high demand during festive seasons [3]. - The experience of "Chinese moms" during the 2014 gold rush, where they invested heavily only to face losses as prices fell, has made consumers more cautious and rational in their purchasing decisions [5][11]. - Consumers now believe that gold only holds investment value when prices drop below $1,200 per ounce, leading to a wait-and-see approach [11]. Group 2: Market Dynamics - The international gold price has dropped from around $2,080 per ounce to approximately $1,770, yet domestic gold stores are experiencing low foot traffic, contrary to expectations [7]. - Domestic gold retailers adjust prices slowly in response to international price changes, which diminishes the immediate impact of falling prices on consumer purchasing behavior [12]. - The lack of efficient gold buyback channels in China discourages consumers from selling their gold investments, as they face significant losses due to low buyback prices [13]. Group 3: Economic and Social Factors - The ongoing pandemic and economic downturn have led to reduced consumer spending on non-essential items like gold, as income growth expectations have declined [14]. - Changes in consumer preferences, particularly among younger generations, have shifted away from traditional gold jewelry as a status symbol, favoring luxury brands and other forms of expression [14]. - The combination of heightened risk awareness, delayed price adjustments, inadequate buyback options, economic pressures, and evolving consumer attitudes is contributing to a cooling off in the gold market [14].

Core Viewpoint - The recent notice from the Ministry of Finance and other departments aims to support pilot cities in enhancing the service economy, innovating diverse service consumption scenarios, and improving consumption quality, as service consumption becomes a significant driver of growth in China's consumption market [1][2]. Group 1: Service Consumption Growth - Service consumption is a natural outcome of China's economic development and rising income levels, with per capita GDP expected to exceed $13,000 in 2024, and service consumption accounting for 46.1% of per capita consumption expenditure, indicating substantial growth potential compared to over 60% in developed countries [2]. - The continuous growth of service consumption is driven by structural reforms on the supply side and the upgrading of consumer demand, supported by government initiatives such as subsidies and policy regulations to enhance effective supply in sectors like elderly care, childcare, and digital services [2][3]. Group 2: Challenges in Service Consumption - There are existing challenges in the service consumption sector, including supply shortages in areas like elderly and childcare services, and the need for improved quality in sectors such as tourism and elderly care to meet diverse consumer demands [3]. - The need for a demand-oriented approach is emphasized, utilizing modern research methods to analyze service needs and market potential, which is crucial for developing new growth points in service consumption [3]. Group 3: Regional and Scenario-Based Strategies - Different cities should adopt tailored strategies to cultivate new growth points in service consumption, leveraging their unique advantages and avoiding blind imitation, such as creating cultural and entertainment services in cities with rich cultural backgrounds [4]. - The integration of digital technology is essential to create diverse, immersive consumption scenarios that meet consumers' emotional needs, thereby establishing new competitive advantages in service consumption [4]. Group 4: Collaborative Efforts and Policy Synergy - The cross-sectoral nature of service consumption necessitates collaboration among various departments, with successful examples seen in major cities where cultural, commercial, and tourism sectors work together to create vibrant consumption environments [5]. - Local governments are encouraged to build mechanisms for collaboration, clarify responsibilities, and ensure effective implementation of policies to foster a supportive ecosystem for service consumption growth [5].

Core Points - The article explores the life of a young man named Xiao Ren, who faces unemployment and the challenges of living on savings in a new city, highlighting the psychological and financial adjustments he makes during this period [1][2][3] Group 1: Employment and Financial Situation - Xiao Ren lost his job in 2024 and initially struggled to find new employment, leading him to take up food delivery as a temporary solution [2][3] - He calculated that his previous annual income in Shenzhen was around 350,000, allowing him to support his parents and save approximately 120,000, resulting in a total savings of about 1 million [4] - After moving to Guanghan, he found affordable housing at 400 per month, which significantly reduced his living expenses to around 900 to 1,000 per month, enabling him to sustain himself for many years without working [7] Group 2: Lifestyle Changes - In Guanghan, Xiao Ren adopted a more frugal lifestyle, cooking for himself and avoiding unnecessary purchases, which marked a shift from his previous spending habits in Shenzhen [8][12] - He experienced a sense of freedom from the pressures of his former life, allowing him to take his time with meals and daily activities, contrasting sharply with his previous fast-paced lifestyle [15][20] - Xiao Ren began to appreciate simple pleasures, such as cooking instant noodles, which he previously viewed as a sign of failure, now seeing it as a personal choice [13][14] Group 3: Psychological Impact - The transition to a slower lifestyle led Xiao Ren to reflect on societal pressures and the commercialization of happiness, realizing that comfort and personal satisfaction are more important than material possessions [12][14] - He faced familial pressure to conform to traditional expectations, such as marriage and stable employment, which he resisted, leading to a sense of isolation but also personal growth [19][20] - The article illustrates Xiao Ren's journey towards self-acceptance and understanding of his own needs, as he navigates the complexities of identity and societal expectations [21][25]

Core Insights - The post-holiday sales slump has led to significant inventory issues for various food products, with many retailers struggling to sell seasonal items that typically perform well during the Mid-Autumn Festival and National Day holidays [3][5][9] Group 1: Market Trends - The average daily trading volume of soft-seed pomegranates dropped from 300 tons before the holiday to 114 tons after, with prices falling from 12 yuan to 5 yuan per pound [3] - High-end tea gift boxes saw an average return rate of 30% post-holiday, with some small to medium tea merchants experiencing inventory accumulation rates exceeding 50% [5] - The wholesale price of live crabs decreased from 80 yuan per pound before the holiday to 45 yuan after, with daily sales averaging less than 200 pounds [5][7] Group 2: Consumer Behavior Changes - Consumers are increasingly prioritizing convenience and health, leading to a decline in traditional festive foods like mooncakes, with a notable shift towards healthier options [9][13] - A survey indicated that 73% of respondents are now more conscious of food ingredient labels, and 64% are actively reducing their intake of high-sugar and high-fat foods [9] - The preference for practical gifts over luxury items has grown, with sales of smart home products increasing by 14.3% during the holiday period [11] Group 3: Retailer Challenges - Many retailers overestimated demand based on previous years' sales data, resulting in excess inventory that is difficult to move [11][21] - Seasonal consumption patterns have shifted, with consumers no longer feeling the need to stock up on food items for holidays, leading to a rapid decline in post-holiday sales [9][19] - Retailers are experimenting with product adjustments, such as offering lower-sugar versions of traditional pastries, but face challenges in maintaining customer satisfaction with these changes [17] Group 4: Regional and Demographic Insights - There are significant regional differences in sales performance, with high-end gift items struggling particularly in East China, while basic food items remain stable in South China [25] - The gap between urban and rural consumption is narrowing, with rural consumers becoming more selective and quality-conscious in their purchases [26]

Group 1 - De Beers has historically dominated the diamond industry, controlling 90% of the global rough diamond supply at its peak, and has been a key player in shaping market prices and availability through strategic marketing and supply limitations [2][4][28] - The company's marketing strategy, epitomized by the slogan "A Diamond is Forever," has significantly influenced consumer behavior, with the engagement ring wearing rate in the U.S. rising from 10% in 1939 to 75% today [1][2] - However, De Beers is currently facing significant challenges, with a reported revenue drop from approximately $6.6 billion in 2022 to $4.3 billion in 2023, and a staggering 40% decline in rough diamond sales [15][12][20] Group 2 - The diamond market is experiencing a shift due to increased competition from new mining regions and the rise of synthetic diamonds, which are now accepted by over 80% of U.S. consumers [28][34] - De Beers' market share has decreased to less than 30%, with competitors like Russia's Alrosa gaining ground, leading to a significant reduction in pricing power [28][29] - The overall demand for diamonds is declining, particularly in the context of changing consumer preferences and a decrease in marriage rates, which has historically been a primary driver of diamond sales [50][53] Group 3 - In 2023, De Beers reported a net loss of $314 million, the highest in 15 years, and a 44% drop in rough diamond sales in the first quarter compared to the previous year [15][12][24] - The company has resorted to price cuts and production reductions to manage excess inventory, yet these measures have not resulted in a significant recovery in sales [20][22] - The broader luxury goods market is also struggling, with major brands like Gucci and LVMH experiencing stock price declines, indicating a wider trend affecting the luxury sector [47][49]

Core Insights - The article highlights five unusual consumption trends observed during the 2025 National Day holiday in China, indicating a shift in consumer behavior and lifestyle among residents. Group 1: Travel Trends - Popular tourist destinations like the Forbidden City, West Lake, and Zhangjiajie saw a significant decrease in visitor numbers, while smaller towns such as Songyang, Shaxi, and Wuyuan emerged as new travel hotspots due to lower costs and less crowded environments [5][7] - Families are opting for budget-friendly travel options, leading to a more economical and memorable holiday experience [5] Group 2: Gift Consumption - There is a noticeable shift from high-end gifts like premium liquor and elaborate mooncakes to more practical and affordable options such as simple fruit baskets, reflecting a change in gifting culture [7][9] Group 3: Dining Preferences - Consumers are moving away from high-end dining experiences to more cost-effective restaurants, driven by a slowdown in income growth [9] - Many individuals are choosing to cook at home for gatherings, ensuring freshness and creating a lively atmosphere, influenced by recent controversies surrounding pre-prepared meals [9] Group 4: Wedding Trends - The number of wedding invitations has sharply declined, indicating a continued decrease in marriage rates, with ceremonies becoming simpler and less formal [11] - Young couples are favoring straightforward wedding processes, moving away from complex traditions [11] Group 5: Leisure Activities - There is an increase in short-distance travel and staying at home during the holiday, as young people face financial pressures and prefer low-cost leisure options [13] - Many individuals are choosing to relax at home to avoid crowded tourist spots and high prices during the holiday season [13]