Core Viewpoint - The consumer sector has been experiencing a downturn since 2025, similar to the period from 2013 to 2017, with concerns about profitability and market conditions [2][4]. Group 1: Historical Comparison - The current situation mirrors the 2013-2017 period, characterized by declining profits and a sluggish consumer market [3][4]. - In 2013, the consumer sector faced its lowest historical valuations, exacerbated by a bear market and fundamental issues such as food safety scandals [4]. - The first wave of recovery in 2014 was driven by securities, while the upcoming recovery in late 2024 is expected to see significant gains in brokerage stocks [4]. Group 2: Economic Correlation - The consumer industry is closely tied to the real economy, with notable bull markets occurring in 2017 and 2021 during periods of strong economic fundamentals [5][6]. - The current low performance in the consumer sector is attributed to weak fundamentals, with profit growth expected to slow in early 2025 [7]. Group 3: Market Dynamics - A weak fundamental environment often leads to a "double whammy" of declining valuations and profits, while a strong environment can result in simultaneous valuation increases and profit growth [7]. - The consumer sector is currently in a low fundamental phase, but a potential recovery could lead to improved profitability and higher valuations [9]. Group 4: Investment Strategy - For those optimistic about consumer stocks, a long-term investment approach is necessary, waiting for a fundamental recovery [10]. - It is advisable to limit exposure to a single industry to 15%-20% to manage volatility effectively [10].