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情绪消费引导文旅市场新供给
Jing Ji Ri Bao· 2025-07-12 22:23
Group 1 - The core viewpoint of the articles highlights a significant shift in travel preferences from traditional sightseeing to personalized emotional experiences, reflecting a change in consumer sentiment towards emotional satisfaction [1][2][3] - Emotional consumption is defined as a behavior where consumers prioritize their emotional needs and experiences when purchasing goods or services, leading to a demand for deeper cultural immersion and emotional resonance during travel [1][2] - The tourism industry is adapting to this new trend by enhancing the quality of experiences and services, focusing on creating unique cultural atmospheres and ensuring that tourists feel a sense of belonging and self-identity during their travels [1][3] Group 2 - The emergence of new consumption scenarios and innovative experiences is reshaping the market, with "atmosphere upgrades" becoming a key feature as consumers seek immersive experiences that fulfill their emotional expectations [2][3] - Cross-industry integration within the cultural tourism sector, such as collaborations with music, technology, esports, and educational experiences, is generating new leisure and entertainment models that cater to diverse consumer needs [2] - Providing high-quality services and creating new consumer demands are essential strategies for driving emotional consumption, with a focus on personalized and customized travel services that respect and care for consumer preferences [3]
消费新观察|从“隐形配角”到“情绪单品”,高筒袜反季节爆火
Sou Hu Cai Jing· 2025-07-10 12:32
Core Viewpoint - The resurgence of knee-high socks has transformed them from a previously outdated fashion item into a trendy staple for young consumers, breaking seasonal constraints and becoming a popular choice among street fashion enthusiasts [1][2]. Group 1: Sales Performance - Sales of knee-high socks have surged, with transaction volumes reported to be 1-2 times higher than last summer [2]. - Popular styles include pure cotton knee-high socks with a cotton content of 60%-90%, priced between 20-30 yuan per pair, with the milk white variant being particularly favored [2]. - Online platforms also reflect this trend, with over 12.51 million views on topics related to knee-high socks on Xiaohongshu, and a high purchase intent noted on Taobao with a 97% positive feedback rate for certain products [2]. Group 2: Market Trends - Major sports brands like NIKE and Adidas are also experiencing strong sales in knee-high socks, offering a variety of styles to meet diverse consumer preferences [3]. - The knee-high sock market is witnessing a compound annual growth rate driven by consumer demand, with significant potential for integration into various lifestyle scenarios such as sports, commuting, and socializing [4]. Group 3: Consumer Behavior - The shift in consumer perception has elevated knee-high socks from a mere functional item to a fashion statement, reflecting a broader trend of emotional consumption where consumers are willing to pay a premium for products that offer aesthetic and emotional value [4]. - Innovations in materials, such as ice-feeling fibers and quick-drying designs, have enhanced the appeal of knee-high socks for summer wear, catering to the evolving needs of younger consumers [4].
FILA“盯”上了年轻人
3 6 Ke· 2025-07-10 08:37
Core Insights - FILA has achieved significant success during the 2025 618 shopping festival, marking a milestone in its "second entrepreneurship" strategy, with a focus on capturing consumer emotional needs rather than competing solely on price [1][2][10] - The brand's sales during the event indicate a strong market position, with FILA's GMV showing high double-digit growth and accounting for approximately 14% of the sports category's total sales [2][10] Company Strategy - FILA's transformation began after being acquired by Anta Group in 2009, which implemented a 100% direct sales model and enhanced customer experience through immersive flagship stores, raising the average transaction value from 600-1000 RMB to 800-1200 RMB [5] - The brand has developed a comprehensive sub-brand matrix, including FILAKids, FILAFUSION, and FILAAthletics, to cover all age groups and market segments [7][15] Market Position - By 2024, FILA's revenue reached 26.626 billion RMB, with a year-on-year growth of 6.1%, making it a significant contributor to Anta Group's overall revenue [8] - Despite this growth, FILA faces challenges such as declining revenue growth rates and increased competition from niche brands like Lululemon and Arc'teryx [8][11] Consumer Targeting - FILA is strategically targeting the younger demographic (ages 18-30), recognizing them as a key consumer group for driving growth in the evolving sportswear market [11][13] - The brand's product design incorporates elements that resonate with young consumers, such as retro styles and elite sports aesthetics, focusing on tennis and golf as core growth areas [13][15] Emotional Marketing - The shift in consumer behavior towards emotional consumption has led FILA to emphasize emotional value in its marketing, although there are concerns about the sustainability of this approach without strong product functionality [18][20] - FILA's emotional narratives, while initially effective, face risks of homogenization and may require deeper emotional engagement to maintain consumer interest [23][25] Future Challenges - The brand must balance its focus on fashion with the essential functional performance of its products to avoid consumer perception of inflated pricing without adequate value [20][21] - FILA's current market strategy may not adequately address the emotional needs of consumers in lower-tier cities, indicating a need for localized marketing strategies to expand its reach [25][26]
“鲜花一天一个价!”价格打到9.9元,千亿鲜花市场是一门好生意吗?
第一财经· 2025-07-09 10:42
Core Viewpoint - The flower market in China is a rapidly growing sector with significant potential, driven by emotional consumption and a shift towards more standardized pricing and quality control [4][5][18]. Group 1: Market Overview - The flower market is a massive industry, with the retail market expected to reach 220 billion yuan by 2024 [4]. - The market is characterized by fluctuating prices, with the same flower variety priced differently across vendors, highlighting a lack of standardization [2][3]. - The consumer demographic is primarily female (74.2%), with a significant portion earning between 5,001 and 15,000 yuan monthly, and over 50% being young adults aged 27-39 [4]. Group 2: Industry Challenges - The flower industry is still in its early stages, facing challenges in establishing transparent market standards and quality control [5][18]. - There is a notable lack of unified standards for grading and quality inspection, which complicates the market dynamics [18]. - The entry of e-commerce and live-streaming platforms has intensified price competition, leading to lower profit margins for flower producers [11][12]. Group 3: Innovations and Opportunities - E-commerce platforms are seen as a key growth driver, with online flower sales projected to reach 120 billion yuan in 2024, surpassing offline sales [8]. - Innovations in flower varieties and cultivation techniques are essential for enhancing market competitiveness and profitability [17]. - The collaboration between flower growers and e-commerce platforms is crucial for aligning production with market demand, allowing for better forecasting of consumer trends [17]. Group 4: Export Market - A significant portion of flower vendors in the market engage in export activities, with stable pricing for certain varieties like hydrangeas [14]. - Exporting flowers presents quality challenges and requires established channels, limiting participation to a few skilled vendors [14].
价格打到9.9元,千亿鲜花市场是一门好生意吗?
Di Yi Cai Jing· 2025-07-09 08:56
Core Insights - The flower market is a promising new blue ocean, characterized by emotional consumption and a lack of standardized pricing and quality [1][4] - The flower industry is still in its early stages of development, with significant potential for growth and innovation [4][12] Market Overview - The flower market in China is projected to reach a retail market size of 220 billion yuan by 2024 [3] - The majority of flower consumers are women (74.2%), with over 60% earning between 5,001 and 15,000 yuan monthly, primarily located in second-tier cities and above [3] Pricing Dynamics - Prices for flowers can vary significantly within the same market, with a single type of lily priced between 15 and 30 yuan depending on the vendor [2] - The entry of e-commerce and fresh food supermarkets has led to a decrease in flower prices, with online sales expected to reach 120 billion yuan in 2024, surpassing offline channels [5][6] Consumer Behavior - The demand for affordable flowers has increased, with many consumers seeking prices comparable to vegetables, leading to a rise in entry-level flower buyers [9] - The expansion of the consumer base is seen as a key growth driver, but there are challenges in moving consumers to higher-quality products [9][12] Innovation and Challenges - The flower industry faces challenges in establishing transparent standards and improving quality control, which are essential for stimulating market vitality [4][10] - The introduction of new flower varieties and improved planting techniques are critical for enhancing market pricing power and profitability [10][11] E-commerce Impact - E-commerce platforms like Hema are reshaping the flower market by providing insights into consumer preferences, which influences what flowers are grown [11] - Despite the benefits of lower prices and increased accessibility, the industry still struggles with a lack of unified standards for product quality and classification [12]
首创证券:“质价比”消费和“情绪”消费需求并存 纺织制造龙头壁垒深厚
Zhi Tong Cai Jing· 2025-07-09 04:45
Core Viewpoint - The report from 首创证券 emphasizes the need to focus on two investment themes in the brand apparel sector amidst a backdrop of consumption structure upgrades and economic pressures, highlighting the importance of companies that meet "quality-price ratio" consumer demands and those aligned with "emotional" consumption trends [1] Group 1: Market Overview - The textile and apparel sector has outperformed the market, with a 5.5% increase since the beginning of the year, surpassing the Shanghai and Shenzhen 300 Index by 7.3 percentage points [1] - As of June 13, the price-to-earnings ratio (TTM) for the textile and apparel sector stands at 25.54, slightly above the historical average since January 2020 [1] - The apparel and home textile segment has a TTM price-to-earnings ratio of 26.54, slightly below its historical average, while the textile manufacturing segment has a TTM price-to-earnings ratio of 20.12, which is below its historical average [1] Group 2: Textile Manufacturing Insights - Raw material prices for cotton and chemical fibers are at historical lows, improving cost conditions for textile companies, although upstream pricing remains under pressure [2] - Domestic demand is benefiting from national subsidies and new consumption trends, leading to steady growth in domestic sales [2] - The textile manufacturing sector faces fluctuating export data due to tariff negotiations, but U.S. demand remains resilient, and the competitive landscape varies among brands [2] - Long-term, Southeast Asia is expected to absorb the textile supply chain from China, with leading textile manufacturers having established significant barriers in terms of delivery, customer relationships, and responsiveness [2] Group 3: Brand Apparel Trends - As income levels rise, domestic consumers are expected to increasingly seek out spiritual and emotional consumption, despite economic pressures and low consumer confidence [3] - The coexistence of "quality-price ratio" and "emotional" consumption demands is noted, with outlet stores thriving on the "big brand + small price" model, showcasing resilience during economic cycles [3] - The IP derivative products sector reflects "emotional" consumption trends, with rapid growth in China and Southeast Asia, indicating significant future potential as the industry is still in its early development stages [3] - The outdoor sports sector is showing high growth potential, evolving towards specialization and segmentation, with leading companies expanding their brand portfolios [3]
4万人演唱会带动4500万消费,“演唱会经济”带火地方文旅?
3 6 Ke· 2025-07-09 00:28
Core Insights - The domestic concert market is experiencing significant growth, with May 2025 seeing a total of 330 performances, a year-on-year increase of 20.9%, and concert attendance reaching 4.484 million, up 23.2% from April 2024 [1] - The ticket revenue for May 2025 reached 3.333 billion yuan, showing slight growth compared to the same period in 2024 [1] - The overall increase in concert events, audience numbers, and ticket sales indicates a robust demand for live performances, with expectations for June data to surpass May [1] Group 1: Concert Demand and Trends - There is a growing willingness among the public to spend on concerts, with high-profile artists like Sun Yanzi and Wang Lihong drawing large crowds [3] - The phenomenon of ticket scarcity has become a common issue, with fans employing various strategies to secure tickets, reflecting the high demand and competitive nature of ticket purchasing [3][4] - The secondary market for tickets remains active, with scalpers charging significant premiums, often 3-5 times the original price for popular concerts [4][9] Group 2: Audience Demographics and Behavior - The audience for concerts is diversifying, with 21.6% of attendees aged 35 and above, indicating a trend where older generations are also engaging in live music experiences [9] - Emotional consumption is driving the popularity of concerts, as younger audiences prioritize immediate emotional satisfaction over traditional long-term investments [9] - Female attendees continue to dominate the concert-going demographic, making up 66.1% of the audience [9] Group 3: Economic Impact of Concerts - Concerts are significantly boosting local economies, with a reported 1:4.8 ratio of ticket spending to surrounding consumption, meaning every 1 yuan spent on tickets generates 4.8 yuan in local economic activity [15] - Major concerts have been shown to increase hotel bookings and local business revenues, with events like Jay Chou's concert in Nanning attracting 170,000 attendees and generating over 1 billion yuan in economic benefits [15] - The integration of concerts with local tourism and hospitality sectors is becoming more pronounced, with cities exploring partnerships to enhance the overall experience for concert-goers [12][15] Group 4: Industry Challenges and Developments - The concert industry is facing challenges related to ticketing transparency and customer experience, with frequent complaints about ticket availability and service issues [8][5] - Recent incidents involving concert cancellations and disputes between promoters and venues highlight the complexities and risks within the industry [7][6] - The overall market for live performances is stabilizing post-pandemic, with global live music industry revenues projected to reach $35.1 billion in 2024, indicating a recovery to pre-pandemic levels [11]
万联晨会-20250708
Wanlian Securities· 2025-07-08 00:30
Market Overview - The A-share market showed mixed performance on Monday, with the Shanghai Composite Index closing up 0.02%, while the Shenzhen Component Index and the ChiNext Index fell by 0.7% and 1.21% respectively. The total trading volume in the Shanghai and Shenzhen markets reached 1,208.497 billion yuan [2][6] - In terms of industry performance, the leading sectors included comprehensive services, public utilities, and real estate, while coal, pharmaceutical biology, and telecommunications lagged behind. Concept sectors that performed well included the China Shipbuilding System, biomass power generation, and the 2025 mid-term profit growth concept, whereas the Tonghuashun fruit index, recombinant protein, and weight loss drug concepts saw declines [2][6] Important News - As of the end of June 2025, China's foreign exchange reserves exceeded 3.3 trillion USD, amounting to 33,174 billion USD, an increase of 32.2 billion USD or 0.98% from the end of May. Additionally, China's gold reserves reached 7.39 million ounces, with an increase of 70,000 ounces, marking eight consecutive months of growth [3][7] - The Ministry of Commerce and nine other departments issued the "2025 Home Economics and Agricultural Action Work Plan," which outlines 14 tasks aimed at expanding home service supply and promoting consumption in the home service sector to support rural revitalization [3][7] Industry Insights Emotional Consumption - The report highlights the rise of emotional consumption, indicating a shift from "consumption upgrade" to "consumption stratification." Consumers are increasingly seeking cost-effectiveness in traditional products while being willing to pay a premium for new products or services. This trend is driven by fast-paced lifestyles and information overload, leading to a focus on emotional well-being [8] Trend in Toy Market - The toy market in China is rapidly expanding, with the market size projected to grow from 22.9 billion yuan in 2020 to 76.3 billion yuan by 2024, reflecting a compound annual growth rate (CAGR) of 35.11%. The market is characterized by a head effect, with leading companies enhancing efficiency through full industry chain layouts and strong IP resources [9] Gold and Jewelry Sector - The gold and jewelry sector is experiencing a shift from channel-driven to product-driven strategies. Despite a slowdown in store expansion due to rising gold prices, some companies are achieving rapid growth through superior craftsmanship and marketing. The report anticipates that gold will continue to be an attractive asset amid global economic uncertainties and geopolitical risks [11] Cosmetics Industry - The report notes a clear trend of domestic brands rising in the cosmetics sector, with local brands gaining market share despite overall weak growth in the industry. Young consumers are increasingly accepting domestic brands, which are focusing on R&D and marketing to enhance their competitiveness [11]
九大消费行业的情绪价值比较
虎嗅APP· 2025-07-07 10:36
Core Viewpoint - The article discusses the concept of "emotional consumption," emphasizing that every individual is both a producer and consumer of emotional value, which has become a necessary part of modern society [2][3]. Emotional Consumption - Emotional consumption arises from the need for emotional labor in various professions, where employees must manage their emotions while interacting with others [3][4]. - During economic downturns, the demand for emotional consumption increases, exemplified by the "lipstick effect," where consumers seek small luxuries to boost their emotional well-being [4]. Emotional Containers - The article highlights the role of products like Pop Mart's IP figures as "emotional containers," which allow consumers to project their emotions onto these abstract characters [7][10]. - Unlike established film characters, these non-film IPs provide a blank canvas for personal emotional projection, making them more relatable to a diverse audience [8][9]. IP Popularity Dynamics - The rise of the Labubu character illustrates the balance between the accidental and inevitable aspects of IP popularity, where initial rejection can turn into acceptance over time as consumer preferences evolve [12][14]. - Labubu's success in Thailand demonstrates how cultural acceptance can vary, leading to different market dynamics for the same IP across regions [15][16]. Business Models of Emotional Value Products - Emotional value is present in various products, including cosmetics, which serve both functional and emotional needs, creating a dual value proposition [19][20]. - The article identifies that while many products have emotional value, it should not be the core of the business model; instead, it should complement the functional aspects [22][24]. - The comparison of emotional value in products like toys, cosmetics, and pets highlights the unique position of IP toys in creating a dedicated emotional connection with consumers [23][24].
2025年中期商贸零售行业投资策略报告:情绪消费兴起,关注潮玩、黄金珠宝、美妆赛道-20250707
Wanlian Securities· 2025-07-07 06:04
Group 1: Industry Overview - The rise of emotional consumption is driving the development of related industries, as China transitions from "consumption upgrade" to "consumption stratification" [1][12][23] - Consumers are increasingly seeking cost-effectiveness in traditional products while being willing to pay a premium for innovative and emotionally valuable products [12][23] - The retail sales of gold and jewelry, cosmetics, and sports and entertainment products have shown positive growth, with gold and jewelry retail sales up by 12.3% and cosmetics by 4.1% in early 2025 [12][19] Group 2: Trend in Emotional Consumption - Emotional consumption is gaining traction due to fast-paced lifestyles and information overload, leading to increased demand for products that provide emotional comfort [23][25] - Young consumers, particularly those born in the 1990s and 2000s, are the main drivers of emotional consumption, accounting for 78% of the market [25][29] - Female consumers represent a larger share of emotional consumption, with preferences differing from male consumers in product categories [25][30] Group 3: Trend in Toy Industry - The Chinese toy market is rapidly expanding, with the market size projected to grow from 229 billion to 763 billion yuan from 2020 to 2024, reflecting a CAGR of 35.11% [2][31] - Factors driving this growth include rising disposable income, the emergence of emotional value in purchases, and the popularity of quality IPs [31][32] - The market remains fragmented, with significant room for consolidation as the top three companies hold only 23.7% of the market share [2][39] Group 4: Gold and Jewelry Sector - The gold and jewelry sector is shifting from channel-driven to product-driven, with high dividend yields providing defensive attributes [3][19] - Despite a slowdown in store expansion due to rising gold prices, some companies are achieving rapid growth through superior craftsmanship and marketing [3][19] - The demand for gold as a safe-haven asset is expected to continue, driven by geopolitical risks and economic uncertainties [3][19] Group 5: Cosmetics Industry - The domestic cosmetics market is witnessing a rise of local brands, with strong performance during promotional events like "618" [4][19] - Local brands are focusing on R&D and marketing to differentiate themselves, capturing market share from international brands [4][19] - The acceptance of domestic beauty brands among younger consumers is increasing, indicating potential for further market penetration [4][19]