【1802亿"五一"账单出炉：消费热潮激活中国经济】 交通运输部公布的数据显示，5月1日至5日，全社会跨区域人员流动量超过14.65亿人次，同比增长 7.9%。住宿、餐饮、购物等多种消费活动应接不暇，假日出游的辐射带动效应呈几何级数增长。 据文化和旅游部数据中心测算，"五一"假期，国内游客出游总花费1802.69亿元，同比增长8.0%。另据 商务部商务大数据监测，假期全国重点零售和餐饮企业销售额同比增长6.3%。 相关ETF方面，截至2025年5月6日收盘，恒生消费ETF(159699)上涨1.33%。拉长时间看，截至2025年5 月6日，恒生消费ETF近2周累计上涨3.65%。流动性方面，恒生消费ETF成交1.71亿元。拉长时间看， 截至5月6日，恒生消费ETF近1月日均成交2.21亿元，居可比基金第一。 规模方面，恒生消费ETF最新规模达15.44亿元，创近1月新高。数据显示，杠杆资金持续布局中。恒生 消费ETF最新融资买入额达533.28万元，最新融资余额达446.31万元。 | | 0.000 0.000 0.00% | | | 恒生消费ETF | | --- | --- | --- | --- | ...

Core Insights - The new consumption market is experiencing significant growth, driven by younger consumer groups and innovative consumption scenarios [2][6][7] - New consumption stocks have become a focal point for investors, with notable price increases in various companies [2][3][5] - The investment logic in the consumption sector is shifting from total expansion to demand differentiation, highlighting the potential of new consumption companies [5][6] Group 1: New Consumption Trends - The "May Day" holiday showcased vibrant consumer activity, with events like comic exhibitions and the popularity of products targeting Generation Z [1][2] - Fund managers are increasingly focusing on new consumption scenarios, such as pet transportation services and trendy snacks, indicating a shift in investment focus [2][6] - The rise of "self-indulgent" and "emotional" consumption among younger demographics is driving market potential [2][6] Group 2: Stock Performance - New consumption concept stocks have seen substantial gains, with companies like Lao Pu Gold and Bubble Mart experiencing over 100% price increases this year [2][3] - In the A-share market, leading companies in the snack and pet economy sectors have also reported significant stock price increases, with Wanchen Group doubling in value [2][3] - The performance of traditional businesses adapting to new consumption trends, such as Ruoyu Chen, has also been notable, with stock prices rising significantly [3] Group 3: Investment Strategies - Fund managers are recognizing structural opportunities within the consumption sector, with a focus on new consumption companies that cater to younger consumers [4][5] - The investment approach is evolving, with an emphasis on identifying innovative nodes and capturing new opportunities rather than relying solely on traditional market leaders [6][7] - Future investment strategies will likely continue to prioritize new consumption sectors, including trendy toys, gold jewelry, and pet products, while also considering traditional consumption as macroeconomic conditions stabilize [6][7]

Investment Rating - The report indicates a positive outlook for the IP derivatives industry, particularly highlighting the strong performance of Pop Mart's Labubu 3.0 series and the potential of the "emotional consumption" sector [4][10]. Core Insights - On April 25, Pop Mart's official app topped the US App Store shopping chart for the first time, coinciding with the global release of the Labubu 3.0 plush series, which sparked a buying frenzy [4][7]. - The sales momentum of Pop Mart's new products underscores the high growth potential of the emotional consumption sector, with significant validation of its global potential in overseas markets [10]. - The secondary market for Labubu 3.0 products shows high premiums, with hidden variants selling for an average of 1,200 RMB, reflecting over a 10-fold increase from the original price of 99 RMB [10]. - The report emphasizes the strong product line innovation and marketing strategies of Pop Mart, including collaborations and limited editions aimed at various markets [10]. Summary by Sections Market Performance - The Labubu 3.0 series has seen remarkable sales, with the average secondary market price for hidden variants reaching approximately 1,200 RMB, while regular variants also show significant price increases [10]. - The US pricing for Labubu 3.0 is set at 28 USD, a 27% increase compared to previous versions, primarily due to tariff adjustments [10]. Product Innovation - Pop Mart consistently launches new basic blind box products annually, with innovative designs and collaborations with popular brands like Coca-Cola and PRONOUNCE [10]. - The introduction of new IPs and expansion of existing ones, such as DIMOO's collaboration with Disney, further enhances product appeal and market reach [10]. Industry Trends - The report highlights the ongoing transformation of traditional stationery companies into diversified IP ecosystems, with companies like Guangbo and Chuangyuan leveraging popular IPs to create a wide range of products [10].

正解局 . 解读产业，发现价值。产业/城市/企业。 5天、63场演唱会。 以下文章来源于正解局 ，作者正解局 作者 | 正解局 来源 | 正解局 （ID： zhengjieclub） 今年五一假期，#演唱会 可是太火了。 根 据 大 麦 网 数 据 ， 今 年 五 一 假 期 ， 北 上 广 深 及 其 他 主 流 二 线 城 市 ， 5 天 要 搞 63 场 演 唱 会。 其中，有好几个明星连续几天开唱，像是#王力宏 在杭州5月1号到3号连唱三天，#张杰 在北京从5月2号到4号也连唱三天。 | 城市 | 场次 | 城市 | 網站房源 | | --- | --- | --- | --- | | 北京 | 11 | 成都 | 9 | | 上海 | 17 | 武汉 | 1 | | 广州 | 3 | 天津 | 2 | | 深圳 | 5 | 西安 | 1 | | 杭州 | 6 | 苏州 | 1 | | 南京 | 7 | | | "抢不到票"、"秒没"、"手速根本跟不上啊"等成为歌迷们高频"吐槽"。 黄牛们还可能把原本就几百的门票炒上几千不等。 的确，按捺不住的火热之心背后，有个不争的事实： 其实不只是五一。 4月的北 ...

「核心提示」 即便只作为粉丝，这都算相当狂热，而金枝的另一重身份是常驻杭州的典型互联网大厂人，更重要的是，这13场短途旅行，她只用掉了3天假期，还是在 过年期间。演唱会行程之外，她还能挤出其他周末，进行"特种兵极限旅行"。 用她自己的话说，"一望无际的上班生涯当中，可能只能靠这种事情吊着一口气。" 报复性旅游的热潮之后，人们的旅行欲望并未如预期般消退，旅行反而开始变成不少人的日常。 与银发族热衷于抽出整块时间沉浸式旅行不同，不少年轻人倾向于在疲惫的日常之外，将短途旅行和跑演唱会作为暂时逃离生活的"安全出口"。他们中不 少人像金枝一样供职于大厂，高薪、繁忙，愿意为创造美好回忆付费。 哪里有需求，哪里就有洞悉需求的人，一些新兴的旅行平台也开始盯上这部分年轻人的钱包。然而，高溢价与低服务却让这场"逃离"变成了一场精准收 割。 旅行：大厂人的情绪消费 金枝绝大部分的短途旅行中包含红眼航班——价格更便宜，大部分时候往返只要1000来块，又不用请假。 从演唱会现场到维权群聊，当旅行平台盯上年轻人的钱包，一场隐秘的收割正在上演。 1年时间，往返13个城市看演唱会——这是金枝2024年的战绩。 一般来说，她会看周六、周日两场 ...

今年五一假期，#演唱会 可是太火了。 根据大麦网数据，今年五一假期，北上广深及其他主流二线城市，5天要搞63场演唱会。 其中，有好几个明星连续几天开唱，像是#王力宏 在杭州5月1号到3号连唱三天，#张杰 在北京从5月2号到4号也连唱三天。 | 城市 | 场次 | 城市 | 场次 | | --- | --- | --- | --- | | 北京 | 11 | 成都 | 9 | | 上海 | 17 | 武汉 | l | | 广州 | 3 | 天津 | 2 | | 深圳 | 5 | 西安 | 1 | | 杭州 | 6 | 苏州 | 1 | | 南京 | 7 | | | "抢不到票"、"秒没"、"手速根本跟不上啊"等成为歌迷们高频"吐槽"。 黄牛们还可能把原本就几百的门票炒上几千不等。 的确，按捺不住的火热之心背后，有个不争的事实： 中国人爱看演唱会，城市爱办演唱会。 2024年，我国有2900万人次观看演唱会（含音乐节），足足比2023年增长了45%，卖票方的收入更达到了296.36亿元！ 这有多夸张？举个例子，去年全国电影票房才卖450来亿，观影人次却有10亿之多，相比之下，创造了电影票房近64%收入的演唱会观看 ...

Core Viewpoint - The emergence of the "first launch economy" is driving industrial transformation and upgrading in Chengdu, with a focus on creating a comprehensive ecosystem for new product launches and enhancing consumer experiences [1][3]. Group 1: Development Initiatives - The Chengdu Jinjiang District has launched the "first launch economy" industrial ecosystem, marking a shift from merely increasing the number of first stores to establishing a closed-loop ecosystem for first launches [3]. - The district plans to create flagship venues such as COSMO Trend Fusion Space, Tianfu Red National Comic Main Venue, and White Egret Bay Technology Exhibition Space, aiming to form an ecosystem layout characterized by "one core leading, two wings interacting, and five circles thriving together" [3]. - The district aims to attract 100 first stores and build a trillion-yuan commercial circle through the "Spring Action" initiative, which includes the introduction of new consumption scenarios, new business formats, and new models [3]. Group 2: Economic and Consumer Trends - Data indicates that 64% of young consumers prioritize spiritual consumption, leading to new consumption trends that reshape their purchasing habits [5]. - The Chengdu government has introduced a comprehensive support system for the digital cultural and creative industry, including a 300 million yuan annual fund and tax reductions for anime companies, as part of the "14th Five-Year Plan" [5]. - The "Three-Year Action Plan for Promoting the First Launch Economy (2025-2027)" aims to boost consumption through five key actions, including new product launches and enhancing the business environment [5].

Core Viewpoint - The company has experienced a significant resurgence in popularity and stock price, driven by the global success of its LABUBU IP and a strong performance in the consumer market, particularly in the U.S. and Europe [1][3][12]. Group 1: Market Performance - On April 28, the company's stock price rose over 12% to HKD 193, with a total market capitalization reaching HKD 259.188 billion [3]. - Since the beginning of 2025, the stock has increased by over 114% [3]. - The company's app climbed 114 spots to become the top shopping app on the U.S. App Store on April 25, marking its first time at the top [1][2]. Group 2: Product and IP Development - The LABUBU series has become a global sensation, with significant contributions from celebrity endorsements, leading to a surge in consumer interest [10][11]. - The revenue from the THE MONSTERS series reached RMB 3.041 billion in 2024, a year-on-year increase of 726.6% [7]. - The company has successfully diversified its product offerings, with plush products generating RMB 28.32 billion in revenue, a staggering increase of 1289% [8][9]. Group 3: International Expansion - The company has opened 130 overseas stores, with revenue from international markets growing by 375.2% to RMB 5.07 billion, increasing its share of total revenue from 16.9% to 38.9% [12][14]. - Plans are in place to open 100 iconic stores in various countries, including France, the U.S., and Australia, as part of its accelerated international strategy [14]. Group 4: Brand Perception and Future Outlook - The company has successfully transformed from a product-focused entity to an IP-centric organization, establishing a robust ecosystem of various IPs [9][18]. - The CEO expressed confidence in achieving RMB 20 billion in revenue and over 50% growth in 2025, indicating a strong belief in the brand's long-term potential [18].

Group 1 - The core viewpoint of the article highlights the rising popularity of "squishy toys" among young adults aged 20-35, particularly in Hangzhou, where sales have surged significantly in recent years [2][3] - The number of adult customers purchasing "squishy toys" has increased markedly compared to previous years, indicating a shift in the target demographic from children to young professionals [3] - Online platforms have seen substantial sales, with various stores reporting monthly sales exceeding 10,000 units for "squishy toys," particularly among women aged 18-35, who make up over 60% of buyers [3][4] Group 2 - The success of "squishy toys" is attributed to product innovation, social media promotion, and the growing trend of emotional consumption, where consumers seek products that fulfill emotional needs [2][4] - Retailers are continuously optimizing the materials and designs of these toys, with new styles resembling real desserts gaining popularity, leading to significant sales increases [4] - Social media influencers play a crucial role in promoting "squishy toys," driving more customers to purchase them due to their appealing aesthetics and fun nature [4]

港股消费爆发。 作者 I 杨继云 报道 I 投资界PEdaily 那是3月5日这天，老铺黄金以600港元/股的价格超越腾讯，成为港股新一任"股王"。没 有人会想到这一幕：老铺黄金自去年6月上市，此后股价一路飞涨，至今涨幅已经超过2 0 倍。 "爆赚，准备原地退休了"。早早上车的人难掩喜悦，这样的分享帖子遍布社交媒体。身 边消费投资人则拍断了大腿： "当初没有投进去。" 这是港股消费公司的一缕缩影。如你所见，资本市场对蜜雪冰城、泡泡玛特报以同样热情 ——他们都涨幅惊人。至此， 泡泡玛特、蜜雪冰城、老铺黄金一起组成了"港股三姐妹" 。 "现在有合适的消费公司赶紧推去港股。"目睹几家消费公司的罕见暴涨，一位头部VC投 资人如是喊话。嘉御资本创始合伙人兼董事长卫哲则向投资界分享他的一个观点："中国 资产重估始于港股，港股重估始于消费公司"。 三姐妹崛起 港股三家千亿消费公司 港股三姐妹，今年密集地出现在投资人聊天之间。 老铺黄金，始于湖南岳阳人徐高明——他于200 4年进军消费级黄金产品市场，后来在北 京创办老铺黄金。他将黄金从"克重计价"的实用主义中剥离，把黄金卖成奢侈品，万元 以上的产品贡献了近9 0%营收，由此 ...