2026.02.24 本文字数：1576，阅读时长大约3分钟 作者 |一财评论员 为期9天的马年春节假期已经过去，假期在带动消费方面的作用十分明显。 旅游的火爆很多人都可以深切感受到。有这样一个细节：往年到了春节假期，拉面馆之类的小馆子往往 关门歇业，可今年假期很多店主忙得不亦乐乎；高档消费商店也是人流如织。 飞猪数据显示，春节假期国内游订单量再创新高，其中门票订单量同比去年增长超80%，酒店间夜量同 比增长75%；国内游人均预订金额较去年提升约10%，其中高星级酒店人均预订间夜量接近3晚；包含 住宿和玩乐权益的热门乐园及景点套餐商品订单量同比增长140%。 人们的切身感受和调查机构的数据都充分说明，我国的消费潜力被激活之后迸发出的能量难以预计，消 费领域对经济增长的拉动作用越发明显。 马年春节假期可以说是为形成"消费大年"开了个好头，但要真正形成"消费大年"，还需营造更好的环 境。 为此，首先要持续加大政策支持力度，进一步激发消费潜能。 其次是要创造更多新的消费场景，保持消费的旺盛活力。 春节假日期间，除了传统的旅游、餐饮、购物，还有很多消费新亮点：冰雪运动热潮持续高涨，"上冰 雪、迎新春"成为新风尚；科技 ...

为此，首先要持续加大政策支持力度，进一步激发消费潜能。 持续加大政策支持力度、创造更多新的消费场景、提供更为坚实的财力和时间基础。 为期9天的马年春节假期已经过去，假期在带动消费方面的作用十分明显。 旅游的火爆很多人都可以深切感受到。有这样一个细节：往年到了春节假期，拉面馆之类的小馆子往往 关门歇业，可今年假期很多店主忙得不亦乐乎；高档消费商店也是人流如织。 飞猪数据显示，春节假期国内游订单量再创新高，其中门票订单量同比去年增长超80%，酒店间夜量同 比增长75%；国内游人均预订金额较去年提升约10%，其中高星级酒店人均预订间夜量接近3晚；包含 住宿和玩乐权益的热门乐园及景点套餐商品订单量同比增长140%。 人们的切身感受和调查机构的数据都充分说明，我国的消费潜力被激活之后迸发出的能量难以预计，消 费领域对经济增长的拉动作用越发明显。 马年春节假期可以说是为形成"消费大年"开了个好头，但要真正形成"消费大年"，还需营造更好的环 境。 商务部、中国人民银行、金融监管总局于2025年12月联合发布了《关于加强商务和金融协同 更大力度 提振消费的通知》，意在通过财政与金融工具组合运用，形成"政府补贴+金融支持+商家 ...

Core Viewpoint - The consumer goods sector is expected to gradually bottom out in demand by 2026, with a narrowing of price declines, although the potential for upward recovery may be limited due to intense competition and weakening raw material cost advantages [1][2]. Group 1: Consumer Goods Industry Overview - The consumer goods sector experienced weak demand and intense competition in the first three quarters of 2025, leading to a decline in both volume and price [2]. - The demand for consumer goods is anticipated to stabilize in 2026, supported by a healthy inventory level and the upcoming consumption peak due to the Spring Festival preparations [2]. - Despite the expected stabilization in demand, the consumer goods sector may still face slight pressure on terminal prices due to ongoing weak demand and a trend towards cost-effective consumption [2]. Group 2: Dairy Products - The liquid milk sector faced a decline in demand due to weakened consumer purchasing power, but the rate of decline has slowed compared to 2024 [3]. - Improvements in raw milk supply and demand are expected, with milk prices projected to stop declining and potentially recover in the second half of 2026 [3]. - The liquid milk industry is anticipated to stabilize at its fundamental bottom in 2026, with reduced promotional pricing and a narrowing of price declines [3]. Group 3: Snacks - The snack industry is expected to continue benefiting from channel growth in 2025, particularly in bulk snack channels and membership supermarkets, despite a slowdown in e-commerce and traditional channels [4]. - The profitability of the snack sector is under pressure due to rising raw material costs and increased competition [4]. - In 2026, the focus will be on growth stocks within the snack sector, particularly those benefiting from the ongoing trends in specific product categories [4]. Group 4: Food Supply Chain - The food supply chain sector is closely tied to the performance of the downstream restaurant industry, which is currently experiencing weak overall conditions [5]. - Structural highlights include resilient leading companies gaining market share and the acceleration of mergers and acquisitions to expand categories and channels [5]. - The sector is expected to show signs of marginal improvement in 2026, with potential recovery in demand and easing competitive pressures [5]. Group 5: Beverage Industry - The beverage sector experienced fluctuations in demand in 2025, with a negative growth trend emerging in the third quarter due to price wars on delivery platforms [6]. - The health and functional beverage categories performed better than others, and despite intense competition, many companies managed to improve net profit margins [6]. - A recovery in beverage demand is anticipated in 2026, with expected growth in the mid to high single digits, contingent on market demand and raw material prices [6][7].