Core Insights - The report highlights a "moderate recovery with structural differentiation" in China's consumption market for the period from January to November 2025, with total retail sales of consumer goods reaching 45.6 trillion yuan, a year-on-year increase of 4% [1][2][8]. Consumption Market Overview - Total retail sales of consumer goods reached 45.6 trillion yuan, growing by 4% year-on-year, indicating a gradual release of domestic demand recovery [1][8]. - Significant growth was observed in discretionary consumption categories such as communication equipment (20.9%), gold and silver jewelry (13.5%), and home appliances (14.8%) [11]. - Service consumption continues to rise, with per capita service consumption accounting for 46.8% in the first three quarters [2][32]. - Online retail remains stable, accounting for approximately 25.9% of total retail sales, with a 5.7% increase in physical goods sold online [9]. Consumption Trends - The report identifies six major trends in the consumption market: 1. Stabilizing consumer confidence with internal differentiation 2. Coexistence of rational consumption and quality upgrades, with "value for money" becoming a core logic 3. The rise of emotional consumption, driven by Generation Z 4. Strong growth in lower-tier markets 5. Flourishing cultural and sports consumption driving surrounding economies 6. Acceleration of domestic brands going global, particularly in trendy toys, new energy vehicles, and smart home appliances [2][29]. Policy Impact on Consumption - Policies aimed at stimulating consumption include expanding the scope of trade-in programs to digital products and providing subsidies for consumer loans and childcare, effectively stimulating consumption potential [1][21][24]. - The report emphasizes that expanding domestic demand is crucial for economic rebalancing, requiring industrial upgrades and income distribution reforms to build a sustainable and healthy consumption market ecosystem [2][21]. Future Outlook - Looking ahead to 2026, the report anticipates a moderate recovery in total consumption volume, supported by the wealth effect, coordinated policy efforts, and gradual income improvements, with a projected retail sales growth rate of around 5% [2][63]. - The consumption structure is expected to evolve towards service consumption, emotional consumption, and green consumption, with traditional industries facing transformation challenges [2][70].

2025年，中国新消费市场正经历从"流量驱动"向"价值驱动"的深刻转型。亿欧智库发布的《2025中国新消费发展洞察暨品牌力榜单》指出，在宏观经济结构 调整、消费者行为变迁及技术迭代加速的多重作用下，新消费品牌不再单纯依赖营销红利或渠道红利，而是更加注重产品创新、用户心智占领与长期品牌资 产积累。报告强调，"理性消费"已成为主流趋势，消费者对品质、体验和价值观契合度的要求显著提升，这倒逼品牌在战略层面进行系统性重构。 研究亮点之一在于首次提出"品牌力三维模型"——即产品力、组织力与文化力的协同进化。报告通过对数百家新消费企业的深度调研发现，真正具备长期竞 争力的品牌，不仅拥有差异化的产品能力，还在内部构建了敏捷高效的组织机制，并成功将品牌理念融入用户生活方式之中。此外，榜单特别关注了国货崛 起背后的结构性机会，如健康生活、情绪价值、可持续发展等新兴赛道，揭示出未来增长的关键驱动力并非仅来自规模扩张，而更多源于对细分需求的精准 捕捉与持续满足。 报告还深入剖析了数字化与AI技术对新消费生态的重塑作用。从供应链优化到个性化推荐，再到内容共创与社群运营，技术正在成为品牌构建护城河的重 要工具。然而，亿欧智库提醒，技术 ...

Core Insights - The article discusses the evolving landscape of consumer behavior in China, emphasizing the shift from passive acceptance to active engagement in the market, driven by changing values, emotional connections, and technological advancements [1][2]. Group 1: Changes in Consumer Preferences - Domestic brands are gaining popularity, with consumers prioritizing local products over international ones. For instance, the percentage of consumers preferring domestic beauty and skincare brands rose from 12% in 2021 to 43% in 2025, while preference for domestic 3C digital products increased from 23% to 55%, and for home appliances from 33% to 69% [3]. - Consumers are re-evaluating their life priorities, focusing more on health and financial stability. The proportion of consumers valuing health increased by 9 percentage points to 87%, and those valuing wealth rose by 12 percentage points to 47% [8]. Group 2: Shifts in Information Channels and Brand Loyalty - The channels through which consumers obtain shopping information are diversifying, with traditional marketing methods becoming less effective. E-commerce platforms remain the primary source for 60% of consumers, but video platforms like Douyin and Kuaishou have become significant, with usage rising to about 50% [9]. - Brand loyalty is diminishing, with 55% of consumers frequently comparing multiple brands even if they have a favorite, an increase of 13 percentage points since 2021. Nearly 70% of consumers feel indifferent or resistant to marketing content [10]. Group 3: The Role of AI in Consumer Behavior - AI is becoming a crucial factor in consumer decision-making, with nearly 80% of Chinese consumers using AI weekly or daily. About 37% have utilized AI tools in shopping, primarily for assistance in unfamiliar categories or for quick comparisons [10][21]. - Brands must adapt to interact with AI as a representative of consumers, providing structured and accurate content to influence AI-generated recommendations, which will affect brand visibility and conversion rates [18][21]. Group 4: Brand Strategies in a Changing Landscape - Brands are encouraged to demonstrate tangible value to consumers, moving beyond just price to emphasize visible and verifiable product benefits. This shift is evident in the focus on quantifiable effects and scientific backing in product descriptions [12][15]. - Creating integrated experiences that resonate emotionally with consumers is essential. Brands should aim for a multi-channel ecosystem that combines online and offline experiences, enhancing consumer engagement and satisfaction [16]. Group 5: Consumer Expectations and Brand Accountability - Consumers are increasingly seeking stability and meaningful engagement from brands, evaluating their relevance, consistency, and ability to fulfill promises. This reflects a deeper human need for trust and connection [22]. - Companies aiming to capture the Chinese consumer market face challenges from outdated growth models but also have opportunities to respond effectively to these profound changes with courage and adaptability [22].

Core Viewpoint - The event emphasizes the importance of rational consumption and its role in economic growth, encouraging students to adopt responsible consumer behaviors and support local brands [5][9][12]. Group 1: Economic Concepts - The session began with a discussion on basic economic concepts, explaining the interaction between consumption and production, the "multiplier effect," and the contribution of consumption as one of the "three drivers" of economic growth [5]. - It highlighted the national strategy of "expanding domestic demand and boosting consumption" and various local policies aimed at promoting consumption, indicating that consumption is a key driver of economic activity and directly impacts people's well-being and urban vitality [5]. Group 2: Consumer Behavior - The speaker encouraged students to establish a consumer mindset that avoids blind following of trends, emphasizes quality over cheapness, and practices frugality while supporting local brands [9]. - The interactive nature of the class enriched students' economic knowledge and guided them towards forming healthy and rational consumption behaviors in their daily lives [12]. Group 3: Educational Impact - The principal of Zhengzhou No. 8 Middle School noted that consumption is not just about meeting needs but also reflects values, connecting individuals with families, society, and the nation [12]. - The session provided new insights and vitality to the financial literacy education and growth of students at Zhengzhou No. 8 Middle School [12].

Core Viewpoint - The article discusses the shift in high-end consumer behavior in China, highlighting the decline of traditional luxury brands and the rise of professional sports brands as key players in the retail space [2][31]. Group 1: Traditional Luxury Brands' Retreat - Major luxury brands, except for Hermès, have been closing stores in China since the second half of 2024, indicating a shift in market dynamics [5]. - Brands like LV and DIOR have already closed stores in key locations, reflecting the pressure on the luxury goods sector [5]. - The actions of these brands often precede their financial reports, signaling a challenging environment for the luxury industry [5]. Group 2: Rise of Professional Sports Brands - In contrast to luxury brands, high-end sports brands are expanding their presence in core urban areas, opening flagship stores and enhancing store specifications [6]. - These brands exhibit resilience during a period of slowing growth in the luxury sector, driven by high repurchase rates and strong user engagement within professional communities [6]. - DESCENTE's flagship store in Beijing, located in a prime commercial area, signifies a shift in consumer preferences towards professional sports brands [7][24]. Group 3: DESCENTE's Strategic Positioning - DESCENTE's approach is characterized by a systematic strategy that combines professional sports engagement with urban retail narratives [9][30]. - The brand's flagship store, "Future City," serves as a medium for expressing its values and connecting with consumers, moving beyond mere retail to become a space for brand storytelling [13][15]. - DESCENTE's strategy includes deepening connections with professional sports communities and establishing a presence in urban centers, thereby appealing to elite consumers [16][17]. Group 4: Changing Consumer Values - The luxury market is experiencing a transition from ostentatious consumption to more rational spending, with consumers reassessing what expenditures are worthwhile [32][33]. - The sports industry is projected to grow significantly, with the Chinese sports market expected to reach 5 trillion yuan by 2025, indicating a shift towards high-end sports consumption [35]. - As professional sports become more integrated into everyday life, brands like DESCENTE must provide not just products but also a lifestyle and community that resonate with new middle-class consumers [36].

健康的经济，建立在理性消费为主干的循环基础上。 在工商管理学的定义里，二手交易不过是"让渡使用价值、再次实现商品流通"的普通商业活动。但在以往"以新为荣、 以贵炫示"的炫耀型消费年代，二手交易一度被贴上"穷""旧""不体面"的隐性标签。 如今，风向逆转。 二手交易浮出水面，从宿舍帘子后的悄悄话，变成朋友圈公开打卡的"回血包"。其背后不仅是消费预算的收缩，更是 价值观的换挡。 "够用即可、循环更好"的理性消费，正成为"00"后的主流消费观念，同时也带来了更为健康的循环经济。 一、火爆的二手交易 1.二手交易万亿GMV 第三方数据机构艾瑞《2025中国闲置交易白皮书》显示，2025上半财年二手电商GMV已破1.95万亿元，而2024全年拼 多多GMV不过1.1万亿。 交易规模同步扩大，2024年中国二手电商交易额6450.2亿元，同比增长17.56%，这一变化反映了二手市场逐渐从小众 走向主流。 2.进击的"00"后 作为移动互联网原住民，00后的互联网使用深度高于其他人群。 第三方数据机构QuestMobile发布《2025"00后"用户消费洞察报告》（下称报告），显示2025年10月，全网移动互联网 00后月 ...

2024年对于欧莱雅来说应该是倍感压力的一年，特别是在中国市场。 从2024年全年业绩报告来看，欧莱雅实现销售额434.8亿欧元，同比增长5.1%，创下销售额新高；实现营业利润86.88亿欧元，同比增长6.7%，营业利润率则 达到了20%。 实际上从最近几年来看，欧莱雅在中国市场的地位逐渐被撼动，业绩增速也呈现放缓趋势。在2019年-2021年，欧莱雅中国市场增速在20%以上，但是从 2022年开始出现断崖式下滑，2022年-2023年仅实现低个位数增长。 到了2024年，第一季度表现尚可，第二季度便开始呈现负增长状态，接下来的第三季度、第四季度也无法扭转颓势。财报中将北亚市场中国大陆美容市场增 长为负归因为受选择性渠道疲软、旅游零售销售压力等因素影响。 就欧莱雅在中国市场的业务布局来看，主要是大众化妆品和高端化妆品贡献大部分营收。其中，大众化妆品以巴黎欧莱雅品牌为代表，高端化妆品则包括兰 蔻、赫莲娜、YSL、理肤泉、修丽可等。 近些年来欧莱雅在中国市场表现不佳，也要归因为大众化妆品的增长缓慢以及高端化妆品的消费乏力。 首先就大众化妆品而言，在中国市场正面临激烈的竞争。一方面本土护肤品牌逐渐崛起，再加上国内消 ...

2025 年，消费行业正呈现出 "市场两极分化、组织精简重构、行业多点爆发、人才韧性突围" 的全景态势。无论是企业经营者、投资者，还是职场从业者， 读懂这些趋势背后的逻辑，方能在不确定性中把握确定性机遇。本文将基于《2025 消费行业年度趋势报告》核心内容，拆解四大核心趋势，解锁行业未来 发展密码。 一、消费品市场新趋势：分化中孕育新机遇 消费市场的变革从未像今天这样剧烈，"中间价格带" 遇冷，理性消费崛起，银发经济爆发，三大趋势共同勾勒出 2025 年消费市场的核心轮廓。 1. 消费两极分化：升级与降级并行，中间地带承压 疫情后，消费者收入与财富状况的差异进一步放大，直接导致消费市场呈现 "两极分化" 的显著特征 —— 高收入群体追求品质升级，中低收入群体侧重性价 比降级，曾经拥挤的 "中间价格带" 成为竞争最激烈、增长最乏力的区域。 | 品牌 | 价格区间 | 产品特色 | 选址策略 | 净利润 (亿元) * | 同比变化 | | --- | --- | --- | --- | --- | --- | | 蜜雪冰城 | 低价(约6元) | 果饮、茶饮、 冰淇淋、咖啡 | 街边店 | 44 | 利润增超40 ...

当下，越来越多的人意识到储蓄的重要性。无论是应对突如其来的裁员降薪，还是为日常生活的底气添 砖加瓦，存款无疑是最坚实的后盾。它不仅能保障基本生活，更能赋予我们从容应对挑战的信心，这种 信心有时甚至能转化为创造更多财富的能力。积累财富固然需要时间，除了通过职业晋升增加收入外， 避免一些常见的"财富漏洞"同样至关重要。若能成功规避以下五件事，你的存钱之路将顺畅许多。 生活中，我们常常能见到为了"面子"而透支"里子"的案例。笔者身边就有一位朋友，历经辛苦终于还清 了近十万元的车贷，本可松一口气，他却立刻萌生了换车的念头。理由很简单：开更好的车，更有面 子。实际上，他那辆仅使用了五年左右的旧车，保养得宜，外观依旧如新。然而，攀比心态作祟，看到 旁人开上了更豪华的车型，他便觉得意难平。最终，他用辛苦攒下的二十万元作为首付，购入新车，同 时背上了为期三年的新车贷。结果是，每月还贷后所剩无几，生活质量不升反降，辛苦积攒的存款瞬间 归零。 这种行为可谓典型的"面子消费"。车辆尚且如此，房产更是如此。购车的贷款或许在十万级别，而购房 的贷款动辄便是百万级别。如果家庭底子厚实，储蓄充足，改善住房条件无可厚非。但若是为了追求更 大 ...

Core Insights - The "Double Twelve" shopping festival has lost its previous momentum, with a noticeable decline in consumer engagement and marketing efforts from platforms like Taobao [1][14] - The shift in consumer behavior towards more rational spending and skepticism about promotional pricing has contributed to the festival's reduced appeal [3][21] Group 1: Consumer Behavior - Consumers are expressing frustration over rising prices during the "Double Twelve" event, with many feeling overwhelmed by complex promotional rules [3][16] - The Z generation shows a lack of enthusiasm for traditional shopping festivals, focusing more on quality and actual needs rather than discounts [8][21] Group 2: Industry Trends - Industry experts agree that the decline in "Double Twelve" participation is a result of promotional fatigue following "Double Eleven" and the proximity to other major shopping events like New Year and Spring Festival [8][21] - E-commerce platforms are transitioning from price-driven promotions to a focus on "scene-based services," emphasizing year-end clearance and lifestyle integration [9][22] Group 3: Competitive Landscape - The significance of "Double Twelve" as a standalone shopping event is diminishing, but it still holds value as a year-end marketing opportunity [13][26] - E-commerce competition is evolving, with a shift towards creating emotional value and enhancing the connection between consumers and products, rather than solely relying on price reductions [13][26]