以下文章来源于新零售参考 ，作者Sunnyue 新零售参考 . 2002年就加入了山姆中国的采购部，在 山姆一干就是 十三年，从北方区的采购总监一路做到全国生鲜采购总监。 图源：上海三农 中国新零售研究影响力媒体——专注新零售行业分析、消费升级及品牌报道。 永辉请来了在山姆、盒马、大润发都干过的佘咸平。 文 ｜ Sunnyue 来源｜ 新零售参考（ID：xlsck360） 封面来源 ｜ 永辉超市官方网站 在零售行业竞争日趋白热化的2025年，永辉超市的一则人事任命引发市场关注。 6月3号，这个开了二十多年的连锁超市宣布新设首席采购官职位，还请来了在山姆、盒马、大润发都干过的佘咸平。 也就是在前几天， 大润发M会员店 传出 商品负责人佘咸平已从大润发离职，跳任永辉CMO。 佘咸平曾在山姆会员店供职10余年，担任过全国生鲜采购总监 ，而 CMO是永辉组织变革后新设的岗位，相当于之前永辉的采购总监。 先说说这位新上任的佘咸平 ， 作为中国零售业少见的首席采购官岗位首任掌舵者，佘咸平的职业履历 也可以说是一点都不平凡 。 那时候 的 外资会员制超市在中国正是风光的时候，他算是跟着经历了那段黄金期。 后来2016年去了 ...

Financial Data and Key Metrics Changes - The company aims for a revenue growth target of 10%, driven by high single-digit billings growth, continued card fee growth, and lending growth slightly faster than billings [18] - The US consumer business has grown at a CAGR of 10.5% since 2019, indicating outperformance compared to the industry [18] - The company has about 5% of accounts in the US but 25% of fee-paying accounts, suggesting significant room for growth [18] Business Line Data and Key Metrics Changes - The millennial and Gen Z customer base has increased from 18% of volume in 2019 to 35% in the last quarter, growing at a 15% rate [10] - 60% of new customer acquisitions are from millennials and Gen Z, with 75% of gold and platinum cardholders in the US belonging to these demographics [11] - The SME segment has shown flat growth, while the overall commercial business has seen about 3% growth with nearly 8% revenue growth [59] Market Data and Key Metrics Changes - International markets are growing in the teens, with the company holding less than 6% market share in its top five markets [68] - The company has made significant progress in increasing coverage in 12 markets, aiming for 80% coverage in targeted cities [69] Company Strategy and Development Direction - The company is focused on customer-centric innovation and adapting to meet the needs of various demographics, particularly millennials and Gen Z [4][6] - The closed-loop network is a key differentiator, allowing for better data collection and marketing capabilities [13][14] - The company is investing in technology and replatforming backend systems to enhance operational efficiency and customer experience [90][92] Management's Comments on Operating Environment and Future Outlook - Management believes that consumer sentiment does not significantly affect their customer base, with unemployment being a more critical factor [50][51] - The company is optimistic about growth opportunities in international markets and the small business segment, which is still nascent [70] Other Important Information - The company has been investing in AI since 2010, which enhances underwriting decisions and fraud prevention [92] - The company is focused on maintaining a balance between marketing spend and operational expenses to ensure sustainable growth [78][80] Q&A Session Summary Question: How does the company plan to grow billings? - The company sees significant room for growth in billings, with a total addressable market (TAM) growing in mid to high digits annually [18] Question: What is the state of spending currently? - Spending has remained consistent across various segments, with strong performance in restaurants and stable airline spending [21][22] Question: How does the company ensure value for diverse demographics? - The company offers a variety of benefits tailored to different demographics, ensuring that each group finds value in their products [27][28] Question: What is the strategy behind the recent acquisition of Center? - The acquisition aims to enhance expense management capabilities, targeting middle-market companies and integrating with existing products [64][66] Question: How does the company view the competitive landscape? - The competitive environment is intense, but the company believes it has a strong position and continues to innovate to stay ahead [44][46]

5月13日，腾讯音乐娱乐集团（以下简称"腾讯音乐"）发布其截至2025年3月31日止第一季度未经审计财 务业绩。 第一季度腾讯音乐业绩迎来高质量增长。财报显示，2025年第一季度，腾讯音乐总收入为73.6亿元，同 比增长8.7%；调整后净利润为22.3亿元，同比增长22.8%。 财报介绍，业绩增长主要得益于第一季度在线音乐服务收入同比增长15.9%至58.0亿元。 上海夏至良时咨询管理有限公司高级研究员、大消费行业分析师杨怀玉向《证券日报》记者表示："得 益于腾讯音乐丰富的内容储备，公司在激发用户音乐需求上拥有良好的施展基础。一方面，腾讯音乐市 场占比达到70%，这让其版权采购成本通过规模效应摊薄；其次，超级会员包含的额外服务，底层逻辑 是瞄准高净值人群以及粉丝群体。" 具体来看，腾讯音乐第一季度与唱片公司稳固合作，持续扩充经典曲库，同时凭借自制内容打造差异化 优势。例如，与索尼音乐娱乐续签多年合约、与英皇娱乐和滚石唱片续约，为曲库升级杜比全景声音 效。此外，尽管华语歌曲仍是音乐播放主流，但韩语、英语及日语歌曲也愈发受到用户欢迎。为满足用 户兴趣，腾讯音乐与韩国Starship娱乐、YG娱乐以及日本头部ACG ...

88VIP 会员为淘天增加竞争胜率。 电商平台的年活跃买家已经都不怎么增长了，这个数字分别达到 9 亿、8 亿、5 亿后，淘宝、拼多 多、京东都不再单独公布这一指标。 刚刚过去的财报季，淘天强调的是成交额和订单数的增长，拼多多对外展示了自己的赚钱能力，京 东则称自己的用户更活跃了。让已有的消费者多花钱，是大家共同要解决的问题。 阿里经历过去一年的组织和战略梳理，明确第一用户是消费者，CEO 吴泳铭也给电商业务划了重点 —— 通过提升体验来提高消费者留存、购买频次，最终赢得市场份额的增长，捍卫电商平台第一的 位置。 围绕 "用户体验"，淘宝天猫将其拆解为产品、供给和服务三个方面，淘天已经做了不少事情，比如 产品端，重新上线网页版；供给端，增加渠道商和产业带的低价商品；服务端，给 88VIP 用户提供 退货无限次包运费的权益等。 淘宝天猫在国内有近 10 亿的用户，88VIP 是其中离用户运营最近的业务之一。 作为一个付费会员业务，88VIP 为会员提供文化、娱乐、旅游、购物优惠等多项权益，也配备了专 属客服，更直接地、近距离地看到消费者喜欢什么，还缺什么。 阿里还为 88VIP 会员设置了 88 元年费和 10 ...