然而，就在这家老店的背后，一场老字号在新时代的变革正在悄然发生—— 在广州老城区的街巷，皇上皇的店铺外已排起长队。店铺内柜台上，一排排腊肠泛着琥珀色的光泽，油 脂在阳光下微微透亮，散发着醇厚的甜香。几位老广州人正仔细挑选着腊味，他们知道，这里的味道， 几十年如一日。 2021年，抖音电商提出"兴趣电商"概念。彼时，皇上皇线下消费群体以40岁以上为主，而抖音电商生态 中，年轻人正成为内容消费的主力，这为皇上皇突破年龄圈层提供了基础。 抖音@皇上皇官方旗舰店的直播间里，主播正热情地向全国观众介绍着同一款腊肠，直播间右上角的观 看人数不断上升。这是老字号在数字时代的生存图景：一边是沉淀了85年的传统工艺，一边是汹涌而来 的新消费浪潮。 文/邓莉 从前店后坊到全产业链的味觉传承 "食在广州"的美誉享誉四方，能在众多美食品牌中脱颖而出的，无一不是拥有过硬品质且不断推陈出新 的佼佼者。皇上皇，作为广州的中华老字号，自1940年创立以来，历经85年风雨，从最初的前店后坊逐 步成长为广式腊味的集大成者，被无数"老广"视作"家乡的味道"。 广式腊肠讲究"肥瘦相间、甜咸适中"。皇上皇坚持选择猪后腿肉和脊膘为原料肉，肥瘦肉的精妙配 ...

Core Viewpoint - Guangzhou Restaurant is successfully transforming its traditional brand into a modern e-commerce powerhouse through innovative strategies, particularly in live streaming on platforms like Douyin, which has significantly expanded its customer base and sales channels [3][13][21]. Group 1: Company Background and Evolution - Founded in 1935, Guangzhou Restaurant is a well-known "Chinese Time-honored Brand" that embodies the heritage of Cantonese cuisine while embracing new consumer trends [3]. - The company established its e-commerce division in 2012, becoming one of the first national brands to engage with online platforms, showcasing its adaptability and forward-thinking approach [3][6]. - Over the years, the e-commerce team has grown from three initial members to over a hundred, reflecting the company's commitment to expanding its online presence [11]. Group 2: E-commerce Strategy and Implementation - The e-commerce team initially operated in a cramped underground office, which fostered a strong team spirit and dedication among employees, leading to a successful transition from offline to online sales [6][9]. - Since 2021, the company has focused on Douyin live streaming, with multiple stores achieving over 2 million orders, highlighting the platform's effectiveness in driving sales [13][21]. - The team has developed a matrix of live streaming accounts tailored to different product categories, enhancing their reach and engagement with diverse consumer segments [18][19]. Group 3: Target Audience and Market Expansion - The primary consumer demographic has shifted from older generations to younger audiences aged 25 to 35, who prefer convenient and innovative food products [21][22]. - Sales outside Guangdong province have increased significantly, with over 80% of certain products sold in markets beyond the traditional customer base, indicating successful national penetration [23][25]. - The live streaming approach has allowed the brand to attract new customers who may not have been familiar with Guangzhou Restaurant, effectively creating a "find the product" rather than "find the customer" model [25][26]. Group 4: Future Directions and Sustainability - The company is committed to maintaining a long-term vision in the evolving landscape of live commerce, focusing on brand integrity and consumer engagement [27][29]. - By integrating traditional culinary techniques with modern marketing strategies, Guangzhou Restaurant aims to continue expanding its influence and reach in the food industry [29].

Group 1 - The 2025 Victoria Consumer Goods Trade Negotiation and Cooperation Conference was held in Guangzhou, focusing on regional cooperation opportunities in the fast-moving consumer goods (FMCG) sector between China and Australia [1][4] - The event featured 21 premium FMCG brands from Victoria and 20 leading import-export trade companies from the Guangdong-Hong Kong-Macao Greater Bay Area, along with representatives from cross-border platforms like Douyin and Meituan [1][4] - Douyin's e-commerce global purchase head delivered a keynote on the growth strategies driven by interest e-commerce, emphasizing the importance of personalized recommendations and localized operations for expanding in the South China market [1][4] Group 2 - The conference showcased a range of FMCG categories including personal care, maternal and infant nutrition, health foods, supplements, and pet foods, highlighting customized strategies and innovations from Victorian brands for the Chinese market [4] - One-on-one negotiations took place between 21 Victorian brands and 20 South China import-export and cross-border buyers, focusing on product access, channel expansion, and joint marketing, resulting in several preliminary cooperation intentions [4]

E-commerce Industry Overview - The report highlights significant growth in the lingerie, snack, and health supplement industries in Q1 2025, driven by node marketing, category innovation, and consumption upgrades [1][3]. Lingerie Industry - The lingerie sector experienced a steady GMV growth, with a notable spike in sales during the March 8 promotion, achieving monthly sales exceeding 7.5 billion yuan [1][10]. - Women's lingerie remains the core category, generating sales between 5 billion to 7.5 billion yuan, with an average transaction price of 85.87 yuan, capturing 28% market share [1][15]. - Other categories such as sleepwear, underwear, and socks also performed well, each generating sales between 2.5 billion to 5 billion yuan, with socks being a necessity item due to its low price and high volume [1][15]. Snack Industry - The snack industry saw growth primarily driven by the January New Year festival, with core categories like nuts, jerky, and pastries each achieving sales between 2.5 billion to 5 billion yuan [2][18]. - The average transaction price for these snacks ranged from 10 to 50 yuan, benefiting from holiday stocking demands [2][21]. - Local specialties experienced the fastest growth, with a year-on-year increase of 129.16%, while chocolate sales declined by 12.35% due to a shift towards low-sugar health trends [2][23]. Health Supplement Industry - The health supplement sector showed strong year-on-year growth, with March promotions significantly boosting monthly sales, reaching between 5 billion to 7.5 billion yuan for ordinary dietary nutrition products and 5 billion to 7.5 billion yuan for overseas dietary supplements [2][26]. - The average transaction price for domestic products was 131.84 yuan, while overseas products commanded a higher average price of 236.32 yuan, indicating a clear premium positioning [2][30]. - New brands entering the market have driven category innovation, particularly in functional and convenient products [2][26]. Overall Market Trends - Each industry exhibits a trend of "head category concentration and diversified niche tracks," with Douyin's interest e-commerce attributes amplifying trends towards health, scenario-based, and quality consumption [3].

Group 1: Overseas Market and Product Distribution - The company's products, including color TVs, white goods, mobile phones, and tablets, are sold in overseas markets such as Asia-Pacific, Middle East, Central and South America, Eastern Europe, North America, and Africa [1]. Group 2: Impact of Major Shareholder's Actions - The company will strictly adhere to information disclosure requirements regarding the major matters planned by the controlling shareholder and will keep monitoring developments to fulfill disclosure obligations as per relevant laws and regulations [1]. Group 3: Improvement Measures for Color TV Business - Domestic sales focus on high-quality products, emphasizing high refresh rates (120Hz and above) and Mini LED technology, while promoting large-screen strategies (65 inches and above) [1]. - Sales channel transformation includes developing OTO (Online To Offline) and interest e-commerce channels to enhance synergy between black and white goods [1]. - For exports, the company aims to maximize profit while expanding scale, focusing on brand and manufacturing overseas [1]. - The company plans to increase efforts in developing strategic business clients to enhance OEM scale [1]. Group 4: White Goods Business Overview - The white goods segment includes refrigerators, washing machines, air conditioners, and freezers, with a focus on strengthening brand foundations through acquisitions like "New Fly" [2]. - The establishment of a joint venture in Ningbo enhances air conditioning manufacturing capabilities, while the acquisition of Beike addresses technology gaps in washing machines [2]. - The company is optimizing its supply chain and sales channels to improve product sales structure and competitiveness [2]. Group 5: PCB Business Development - The PCB business is managed by Shenzhen Konka Circuit Co., Ltd., which oversees four specialized factories producing various types of circuit boards, including metal substrates and HDI boards [2]. - The company is implementing a professional development strategy to enhance product layout and technical strength, focusing on core customer development and collaboration [2]. - Each factory is optimizing product structure and improving manufacturing capabilities to create lean factories [2].

一、媒体人的呐喊：文字与镜头里的初心 1991 年，张璐出生于九江柴桑涌泉乡。大学时期，她毅然选择了新闻专业，怀揣着对真相的执着追求与对文字的热爱，开启了自己的求学之路。2008 年，刚从校园毕业的她，一头扎进了媒体行业，自此，开启了长达 8 年的记者生涯。在这 8 年里，张璐的足迹几乎遍布九江大地的每一个角落。她深入田 间地头，倾听农民诉说丰收的喜悦与种植的艰辛；她走进工厂车间，记录工人们为城市建设挥洒汗水的瞬间；她穿梭在社区小巷，关注着百姓生活中的家 长里短与急难愁盼。她用手中的笔，为那些默默耕耘、渴望发声的百姓呐喊，一篇篇饱含温度与力量的报道，传递着最真实的民生百态。她用镜头，定格 九江的山川秀美、人文风情，让这座城市的美好瞬间得以永久留存。 从媒体人到电商达人的转变 - 访九江熊羊鹿电子商务有限公司总经理张璐 走进风景优美的柴桑区泊芽湾露营基地，见到传闻已久的九江熊羊鹿电子商务有限公司总经理张璐。她以媒体人的敏锐与情怀，在电商领域开辟出一片新 天地；她凭借坚韧不拔的毅力，带领团队在风雨中砥砺前行。从初出茅庐的新闻记者，到如今在电商行业崭露头角的企业家，张璐的每一步都走得坚定而 精彩，她的故事，是一部充 ...

Investment Rating - The industry investment rating is "Outperform the Market" [8] Core Viewpoints - The report highlights strong growth in the personal care e-commerce sector, particularly in April, with local brands rapidly gaining market share through platforms like Douyin [1][2] - The report emphasizes the resilience of various personal care categories, with significant year-on-year growth in sales across multiple platforms [2] Summary by Relevant Sections E-commerce Performance - In April, the GMV (Gross Merchandise Value) for sanitary napkins on Tmall increased by 22% year-on-year, with notable growth from local brands such as Naise Princess (+21%), Jieting (+60%), and Taotao Oxygen Cotton (+136%) [2] - Douyin saw a remarkable 62% year-on-year increase in sanitary napkin GMV, with local brands like Naise Princess (+377%) and Jieting (+52%) showing strong performance [2] Oral Care - The GMV for toothpaste on Tmall rose by 24% year-on-year, with local brands like Lengsuaning (+158%) and Yunnan Baiyao (+42%) outperforming foreign brands [2] - Douyin's toothpaste GMV increased by 78% year-on-year, with local brands leading the rankings [2] Diapers - The GMV for diapers and pull-ups on Tmall increased by 42% year-on-year, with leading brands such as Huggies (+62%) and Pampers (+118%) driving category growth [2] Tissue Products - The GMV for tissue products on Tmall rose by 22% year-on-year, with major brands like Vinda (+26%) and Heart to Heart (+46%) showing upward sales trends [2] Investment Recommendations - The report recommends continued investment in the personal care sector, highlighting the rapid growth of local brands and their expansion into various online and offline channels [2]

Core Viewpoint - The company is focusing on improving its operational performance in the television and home appliance sectors through strategic initiatives and product upgrades, while also expanding its overseas business significantly. Group 1: Financial Performance - In Q1 2025, the company reported total revenue of 2.544 billion yuan, a year-on-year increase of 3.32% [8] - The net profit attributable to shareholders was 94.81 million yuan, showing a substantial year-on-year increase of 118.59% [8] - The company’s gross profit margin stood at 5.62% [8] Group 2: Business Strategy - The company is implementing a strategy focused on high-quality products, emphasizing large-screen televisions and advanced technologies like Mini LED [2] - The company is transforming its sales channels by promoting OTO (Online To Offline) and interest e-commerce to enhance synergy between different product categories [2] - The company aims to deepen professional integration and implement lean management to improve operational performance and ensure stable operations [6] Group 3: Product Development - The company launched flagship products in its television segment, including the Tianjing Mini I-LED series, and upgraded its home appliance offerings with new refrigerator and washing machine models [3] - The company introduced double-sided aluminum substrate products in its PCB business to enhance its product structure [3] Group 4: Overseas Expansion - In 2024, the company’s overseas revenue from home appliances grew by 47%, with significant increases in specific product categories: air conditioners up 85%, washing machines up 47%, freezers up 130%, and refrigerators up 22% [5] - The company successfully established its own brand business in Sri Lanka and expanded its customer base by acquiring 23 new clients in the overseas television market [5]

Core Insights - The article emphasizes the importance of professional operation teams for Douyin stores to overcome challenges such as low conversion rates and complex platform rules [1][3]. Group 1: Core Values of Douyin Store Operation - Precision in traffic generation is achieved through a combination of influencer partnerships, targeted advertising, and engaging short video content, leading to significant sales growth, as demonstrated by a beauty brand that saw a 300% increase in GMV [3]. - Operational efficiency is enhanced by delegating tasks to specialized teams, allowing for rapid store setup and high sales rates, exemplified by a home goods brand achieving a 65% sales rate in the first month [3]. - Risk management and resource integration are facilitated by experienced teams that can quickly adapt to platform changes, as shown by a clothing brand that improved its experience score from 4.2 to 4.8 within 48 hours [3]. Group 2: Key Strategies for Douyin Store Operation - The "explosive product incubation formula" combines product selection, content creation, and advertising strategies, with a notable example being a cleaning product video that achieved a 12% click-through rate [6]. - The influencer distribution strategy involves a tiered approach, utilizing top influencers for brand endorsement and mid-tier influencers for cost-effective promotions, leading to significant sales increases [7]. - Regular live streaming operations focus on effective communication and tailored scenarios to enhance customer engagement and conversion rates [9]. Group 3: Avoiding Pitfalls in Choosing Operation Teams - Businesses should be cautious of "guaranteed volume contracts" that focus on sales promises rather than process metrics, as illustrated by a case where a low-price strategy led to a drop in store ratings [10]. - It is crucial to verify the operational team's experience and request relevant case studies to ensure they have a proven track record in the specific category [11]. - Transparency in fee structures is essential, with clear definitions of service fees and commission calculations to avoid unexpected costs [12]. Group 4: Conclusion - Douyin store operation is viewed as an efficiency booster rather than a one-size-fits-all solution, requiring active participation from businesses in key areas [13].

凯 度 消 费 者 指 数 （ 在 中 国 隶 属 于 CTR ） 最 新 发 布 的 报 告 显 示 ， 中 国 城 镇 快 速 消 费 品 （FMCG）市场在2025年的一季度以 积极态势 开局，销售额同比增长 4.2% 。 从城市级别来看，受节庆氛围和返乡探亲潮带动，下线城市的消费增长达5.9%，其中， 镇级市场 增长超1 0%。区域上， 北区 消费增长最为显著，较去年同期增长超过7%。 2 0 2 5年一季度，进口产品*的销售额同比下降1 . 7%，消费者在选购进口产品时的户均花费 和购买均价都有所下滑。从各市场来看，美国、法国和日本是消费者选购进口产品的前三 大市场，但与同期相比，这些市场的销售额增速均有不同程度的下滑。 个性化、多元化的消费场景为家外消费市场注入更多活力，凯度消费者指数家外的数据显 示，2025年开年，家外消费市场持续繁荣，在全国1- 5线城市， 客流同比增长1 0% ，其中 运动场所和娱乐场所等外出的消费场景客流增长明显。 【视频号直播预告】 5月8日，下午4点，2 0分钟线上微分享 一季度快速消费品市场纵览 2 025年一季度中国快速消费品市场会出现哪些新的变化？ 线下渠道： ...