Core Insights - The new product from Guizhou Moutai, priced at 7000 yuan per bottle, has seen its market price nearly double shortly after launch, with second-hand market prices reaching around 14000 yuan per bottle [2][4] - The product, commemorating the 70th anniversary of the "Five-Star" trademark, sold out within 2 minutes, generating approximately 1.79 billion yuan in direct sales revenue [4] - The unique "one bottle, one code" concept adds a personalized touch to the product, aligning with the company's exploration of emotional consumption [2][10] Product Launch and Market Response - Guizhou Moutai launched the "Guizhou Moutai (Five-Star Trademark 70th Anniversary Commemorative)" on August 8, with a limited release of 25,568 bottles [4][10] - The product's market response exceeded expectations, with prices on platforms like JD.com reaching around 15000 yuan per bottle, and some listings as high as 34999 yuan [4][8] - The lowest price recorded on JD.com within 24 hours was 11290 yuan per bottle, which later increased to over 15000 yuan [8] Emotional Consumption Trend - The product's strategy emphasizes "unique date coding," which aligns with Moutai's recent focus on emotional value in consumer products [12] - Emotional consumption is identified as a significant trend, with companies needing to address consumer demands for emotional value [12][13] - The rise of emotional consumption is linked to changing consumer preferences, moving from survival-based consumption to enjoyment and spiritual consumption [13]

Core Viewpoint - The recent launch of the "Guizhou Moutai (70th Anniversary of the Five-Star Trademark)" has seen a significant surge in secondary market prices, indicating strong consumer demand and potential speculative risks in the market [1][3][4]. Group 1: Product Launch and Market Response - Guizhou Moutai released a limited edition product priced at 7000 yuan per bottle, with a total of 25,568 bottles available [3]. - The product sold out within 2 minutes, generating approximately 179 million yuan in direct sales revenue for Guizhou Moutai [3]. - Following the launch, secondary market prices quickly rose, with listings on platforms like JD.com reaching around 15,000 yuan per bottle, and some sellers even pricing it at 34,999 yuan [1][4][7]. Group 2: Unique Product Features - The product features a unique "one bottle, one code" concept, with each bottle having a distinct identity code corresponding to the 70 years of the brand's history [9]. - This personalized aspect, referred to as "birthday Moutai," appeals to consumers looking for emotional connections with the product [9][11]. Group 3: Emotional Consumption Trend - The launch aligns with the growing trend of emotional consumption, where consumers seek products that provide emotional value and connection rather than just utility [12][13]. - Guizhou Moutai's strategy emphasizes the importance of emotional value in consumer purchasing decisions, reflecting a shift from survival-based consumption to enjoyment and spiritual fulfillment [12][13].

Core Insights - The article highlights the rise of IP economy driven by emotional value, exemplified by the "Bian Bian Xue Wang Global Exhibition" in Beijing, which successfully activates consumer emotions and drives consumption [1][2][5] Group 1: IP Development and Consumer Engagement - The "Bian Bian Xue Wang" exhibition features a 500 square meter area with 55 uniquely designed snow king figures and a 10-meter tall giant snow king, creating an immersive winter wonderland experience [2][3] - The collaboration between Longfor Commercial and Mixue Ice City showcases the deep development of the snow king IP, enhancing its visual representation and emotional connection with consumers [2][3] - The exhibition includes various activities such as a unique stage play and multilingual animations, enriching the cultural content and allowing consumers to experience the charm of the snow king IP from multiple dimensions [3] Group 2: Marketing Strategy and Transformation - Longfor Commercial aims to shift traditional marketing models by emphasizing emotional value derived from IP resonance, transforming consumer spaces into platforms for emotional expression and cultural engagement [4][5] - The transformation from a "landlord" to a "curator" and "traffic operator" is evident in Longfor's approach, where they create engaging and story-driven exhibition spaces that connect brands with consumers [4] - The exhibition successfully converts online traffic into offline footfall through various engaging activities, demonstrating the effectiveness of their innovative IP and scene creation [5] Group 3: Long-term Commercial Impact - The rise of IP economy is expected to peak by 2025, with brands leveraging unique and attractive commercial spaces to drive consumer engagement and sales [6] - The "Bian Bian Xue Wang" IP resonates with Generation Z, who are willing to pay for emotional connections, stories, and identity recognition rather than just product functionality [6] - The exhibition not only boosts immediate consumption but also optimizes the commercial ecosystem in the long term, enhancing the overall competitiveness of the commercial space [6]

今年盛夏，第35届青岛国际啤酒节被一股"情绪"力量点燃。火出圈的"青岛啤酒交易所"、只加快乐不加油的啤酒加"油"站、全国首个"啤酒+情绪释放"沉 浸式乐园……这些创新体验，让啤酒成为满足消费者情绪需求的 "液态疗愈"良方。 在青岛，啤酒正加速从饮品向情感伙伴的角色转变。以情感共鸣、心理满足为核心的"情绪经济"正从消费新现象跃升为驱动青岛消费增长的新引擎。 疗愈"药方"有"酒引子" 在快节奏的生活方式下，年轻一代难免面临工作、生活等多重考验，他们渴望获得情感宣泄或是心理慰藉。《2024中国青年消费趋势报告》显示，情绪成 为年轻人的消费需求，近三成受访年轻人会为情绪价值买单。 今年的青岛国际啤酒节，成为这种情绪消费的集中释放场域。追求小众和个性化表达的年轻人、在碰杯中谈笑畅想的中年人以及共享家庭温馨时光的许多 家庭，不同群体的情绪需求在这场节庆狂欢中被鲜明感知和满足。 互动体验拉满情绪价值 当啤酒成功接住了疲惫、迷茫与雀跃等情绪，它就成了消费者自我疗愈的"药引子"。 将情绪消费做成持久生意 情绪消费该如何转化为持久动力？在全国34座城市上线了1000家青岛啤酒品牌专营旗舰店——青岛啤酒新鲜直达，借助美团闪购"30 ...

Core Insights - Pop Mart is experiencing significant momentum, with its stock reaching a historical high of 293.40 HKD and a market capitalization of 373.3 billion RMB as of August 8 [1] - The company has successfully created a unique emotional consumption model that drives consumer enthusiasm for collectibles, particularly through its popular IPs like Labubu, Crybaby, and Twinkle Twinkle [3][4] Group 1: IP Development and Sales Performance - Labubu's contribution to the company's sales has increased from 6% two years ago to becoming a global phenomenon, while Crybaby has achieved a remarkable revenue growth of 1537.2%, generating 1.1649 billion RMB [4][11] - The Twinkle Twinkle series has also gained popularity, with products selling out quickly at events, indicating strong market demand [4][10] Group 2: Platform Capability and Industrialization - Pop Mart's IP incubation strategy differs from traditional models like Disney, focusing on emotional projection without a narrative background, which enhances its platform value [7][8] - The company has established a systematic approach to IP industrialization, integrating global artist resources and developing a replicable IP production line [8][10] Group 3: Global Market Strategy - Pop Mart's localized IP development has proven effective, with significant contributions from regions like Thailand, where local IPs accounted for 8.9% of revenue [10] - The company has built regional centers to support local artist discovery and market validation, facilitating a closed-loop system for global expansion [10][15] Group 4: Consumer Engagement and Market Trends - The rise of emotional consumption is evident, as consumers seek cultural identity and emotional connection through products, leading to increased demand for Pop Mart's offerings [12][13] - The company's success reflects a broader transformation in the consumer market, moving from mere product exports to cultural symbol outputs [12][15]

Group 1 - The core viewpoint of the article highlights the rise of emotional consumption among young people, driven by a sense of emptiness and the need for self-satisfaction in their purchasing decisions [2][3][4] - Emotional consumption has become a significant part of the contemporary consumer landscape, moving beyond niche choices to mainstream acceptance [2][4][6] - The shift in consumer logic from practicality to emotional satisfaction reflects a broader societal trend where material needs are met, allowing individuals to seek joy and belonging through their purchases [4][6][12] Group 2 - The rise of emotional consumption is attributed to two main factors: the abundance of material life and the psychological pressures faced by young people [4][7] - Young consumers are increasingly prioritizing emotional value alongside traditional utility in their purchasing decisions, indicating a shift in the hierarchy of needs [6][12] - The emotional economy in China is projected to grow significantly, with the market size expected to reach 23,077.67 billion yuan in 2024 and surpass 45,000 billion yuan by 2029 [12][18] Group 3 - Emotional consumption can be categorized into three main types: self-pleasing, social, and addictive consumption [13][14] - Self-pleasing consumption focuses on personal emotional satisfaction, with products like fragrances serving as a means of self-care and emotional investment [14] - Social consumption acts as a bridge to connect individuals, with products like escape room experiences and collectible items fostering a sense of community and belonging [15][16] Group 4 - Addictive consumption is characterized by a compulsive need for certain products, such as blind boxes, which create a cycle of emotional highs and lows [16][17] - Brands that understand and cater to the emotional needs of consumers are positioned to thrive in this evolving market, emphasizing the importance of emotional connection over traditional product durability [17][18] - The competition among brands is shifting from product functionality to emotional resonance, with successful brands effectively addressing the anxieties and desires of young consumers [17][18]

Core Viewpoint - The company ShiningSoul aims not only for "product globalization" but also for "cultural globalization," using collectible card games (TCG) as a medium to tell compelling Chinese stories to the world [4][12]. Company Overview - ShiningSoul, a new cultural brand under Shanghai Zhenyouqu Cultural Technology Co., has completed a multi-hundred million RMB Series A financing round led by Hillhouse Ventures, with participation from other notable investors [4]. - Founded by Yao Shuo Bin and Sheng Chuan, the company has rapidly developed a series of successful IP card games within just over a year [6]. Market Potential - The Chinese card game market has significant growth potential, with per capita consumption expected to increase by over ten times, supported by a user base of over 500 million in the broader subculture demographic [8]. - The collectible card game segment is highlighted as a key focus due to its higher design barriers and user engagement [4]. Strategic Advantages - ShiningSoul has established a unique content moat by acquiring top-tier IPs and mastering user engagement, enabling the company to create compelling narratives around its products [8]. - The company has built a comprehensive industry chain that enhances its product creativity and quality, leading to strong scale effects [8]. Product Success - The company has successfully launched several hit IP card games, including "Identity V," "Genshin Impact: Seven Saints Summon," and "Return to Future: 1999," which have become cultural phenomena [6]. - The recent release of "Runeterra: League of Legends Battle Card" has quickly positioned itself as a competitive TCG product within just over a week of launch [10]. Future Plans - Following the recent financing, ShiningSoul plans to accelerate its strategic goals by deepening partnerships with top global IPs and expanding its international presence in key markets such as North America, Europe, and Southeast Asia [12]. - The company aims to leverage its products and IP creativity to establish itself as a world-class cultural brand originating from China [12]. Investor Insights - Investors express confidence in ShiningSoul's potential, highlighting the company's strong product capabilities, execution, and long-term vision in the TCG sector [12][13]. - The rapid growth of the cultural consumption industry in China, with an annual growth rate exceeding 50%, positions ShiningSoul favorably for future success [13].

Group 1 - The core phenomenon of "the first cup of milk tea in autumn" reflects the vibrant and potential-filled consumer market, showcasing new models and business formats [1] - The promotion led to overwhelming demand, with some stores experiencing order backlogs exceeding 1,000 cups, and delivery platforms facing system crashes [1] Group 2 - Personalized and diversified consumption trends, such as self-rewarding and emotional consumption, are on the rise, with consumers seeking unique products that cater to their individual needs [2] - The milk tea market exemplifies this trend, with innovative cup designs and sizes catering to diverse consumer preferences [2] Group 3 - There is a growing emphasis on quality and sustainability in consumer choices, with consumers preferring high-quality, well-crafted products and being mindful of environmental and social responsibility [3] - The shift towards healthier options, such as reduced sugar choices and innovative flavors, indicates a demand for fresh and appealing products [3] - The transition in consumer attitudes is driving businesses to focus on product quality and environmental performance, fostering sustainable market development [3]

Economic Performance - Guangzhou achieved a total retail sales of consumer goods of 561.12 billion yuan in the first half of the year, with a year-on-year growth of 5.9%, outperforming other first-tier cities [1][2] - The retail sales growth rate in Guangzhou was significantly higher than that of Shanghai (1.7%), Beijing (0.9%), and Shenzhen (3.5%) [1] Tourism and International Influence - The city received a total of 1.13 billion tourists in the first half of the year, with a notable increase in international visitors, particularly those arriving via international flights [2][4] - Guangzhou was awarded the title of "Most Internationally Influential Inbound Tourism City" for 2024 at the "Weibo Tourism Night" awards [2] Consumption Policies and Trends - The implementation of optimized departure tax refund policies has led to a significant increase in tax refund applications, with a year-on-year increase of 203% [4][5] - Online retail sales of physical goods in Guangzhou grew by 16.4% year-on-year, driven by government subsidies and consumer demand [5] E-commerce and Digital Trends - Guangzhou has become a hub for live e-commerce, attracting major players like Douyin and establishing a comprehensive ecosystem for digital retail [7][12] - The rise of "emotional consumption" among younger consumers is driving demand for experiences over mere product ownership, reflecting a shift in consumer behavior [8][11] Product Categories and Market Dynamics - Significant growth was observed in various product categories, including a 279% increase in deliveries of Xiaopeng Motors in the first half of the year [5] - The demand for high-performance gaming laptops surged, influenced by social media trends and government subsidy policies [6][12] Cultural and Entertainment Events - Guangzhou is positioning itself as a cultural hub with numerous concerts and festivals, contributing to increased tourism and related spending [11][12] - The city is leveraging its historical significance and modern amenities to enhance its status as an international consumption center [1][11]

Core Viewpoint - Guangzhou's retail market shows resilience and growth, with a significant increase in social retail sales driven by various policies and new business models, positioning the city as a leading international consumption center [1][3]. Group 1: Retail Performance - In the first half of the year, Guangzhou achieved a total retail sales of 561.12 billion yuan, a year-on-year increase of 5.9%, outperforming other first-tier cities [1]. - The retail sales growth rate in Guangzhou was notably higher than that of Shanghai (1.7%), Beijing (0.9%), and Shenzhen (3.5%) [1]. - The retail sales growth rate in the second quarter showed a monthly increase, with May and June each exceeding 9.5% year-on-year [1]. Group 2: Tourism and International Influence - Guangzhou received 1.13 billion tourists in the first half of the year, with a remarkable 129% increase in foreign visitors entering through Baiyun Airport [3][5]. - The city was recognized as the "Most Internationally Influential Inbound Tourism City" for 2024, indicating its growing status as a primary destination for global travelers [3]. - The implementation of a new tax refund policy has significantly boosted the "consumption-refund-reconsumption" cycle, enhancing the shopping experience for international visitors [3][5]. Group 3: E-commerce and Consumer Trends - Online retail sales of physical goods in Guangzhou increased by 16.4% year-on-year, with significant growth in categories like home appliances (27.6%) and furniture (330%) [7]. - The demand for high-performance gaming laptops surged, driven by the dual influence of summer economic activities and national subsidy policies [8]. - The rise of "emotional consumption" among younger consumers is reshaping retail dynamics, with brands leveraging IP collaborations to enhance sales and brand influence [10][13]. Group 4: Policy and Market Dynamics - The government has implemented various policies to stimulate both supply and demand, including subsidies for new energy vehicles and electronic products [6][7]. - Guangzhou's strategic initiatives have attracted major e-commerce players, establishing a comprehensive ecosystem that includes platforms, payment systems, logistics, and supportive policies [9]. - The city is undergoing a transformation into a "new retail" hub, integrating traditional commerce with digital and cross-border consumption [14].