12月29日，平安银行信用卡与瑞幸咖啡联合打造的平安银行瑞幸联名信用卡正式亮相，该卡以咖啡为情感纽带，向广大客户传递"一杯瑞幸，十分平安"的新 年祝愿，陪伴年轻人在冬日里温暖前行。 卡面设计吸睛，兼具质感与金融美学 12杯推荐礼：邀请好友办卡领12杯。已经持有平安信用卡的客户，通过推荐好礼活动页面，每成功邀请一位新户好友办理平安银行瑞幸联名信用卡并完成首 刷，即可获得12张瑞幸咖啡券，至多可推荐30位好友参与。 作为平安银行信用卡五大基础保障升级后的首张跨界联名力作，该卡还提供全面增值服务，涵盖72小时盗刷免赔保障、100万元交通意外保障、12次免费AI 问诊、多种还款模式及1V1企微客服。此外，依托美国运通的资源加持，持卡人可尊享运通专属礼遇，包括星级酒店自助餐买一赠一、下午茶5折优惠，以 及指定地区境外消费2%返现等多重惊喜。（详见"美国运通卡礼遇"小程序） 周周畅享权益叠加，助力客户实现咖啡自由 咖啡已成为现代职场人工作通勤、社交休闲的生活方式标配，平安银行信用卡精准捕捉这一消费趋势，与瑞幸咖啡共同设计出贴近年轻人消费节奏的权益体 系。首年免年费，消费满6笔免次年年费，覆盖咖啡及多项特色权益，2025年 ...

Core Insights - The younger generation seeks a more relaxed and fashionable way to express cultural confidence, which brands like Adidas are tapping into by interpreting traditional Chinese culture through their products [1] Group 1: Consumer Trends - The global consumption market is undergoing deep structural changes, with increasing trends of market segmentation and personalization, necessitating brands to accurately identify and cater to diverse consumer needs [3] - Adidas is diversifying its product offerings in the running category, providing a range of shoes tailored to different types of runners, such as the ADIZERO 0 series for elite runners and the SUPERNOVA series for casual joggers [3] Group 2: Brand Innovation - Adidas has successfully launched its flagship store on Anfu Road in Shanghai, which has become a cultural hub for young consumers and has performed exceptionally well since its opening [5] - The brand is focusing on cross-industry collaborations to enhance product appeal, including a partnership with Chinese designer SAMUELGUÌYANG for a limited New Year collection, which has gained popularity among young consumers and NBA stars [7] Group 3: Financial Performance - Adidas reported a revenue of €2.774 billion in the Greater China region for the first three quarters of 2025, reflecting a 12% year-on-year growth and demonstrating the effectiveness of its localized strategy [9]

Investment Rating - The report does not explicitly provide an investment rating for the apparel industry Core Insights - The apparel industry is experiencing significant trends driven by consumer preferences and competitive pricing strategies, particularly during major shopping events like Double Eleven [4][7][12] Industry Trends - StockX's "Big Facts: 2025 Trends" report highlights key consumer trends for 2025-2026, including the popularity of ASICS Gel-1130 running shoes and a 21% growth in ballet flats [4] - The Double Eleven shopping event has seen aggressive price wars, particularly in the down jacket segment, with some items seeing price drops of several hundred yuan, leading to increased sales but decreased average transaction values [4] - Canada Goose is expanding its product range beyond down jackets, with a 1.8% revenue growth in Q2 2026, driven by a 21.8% increase in direct-to-consumer sales, particularly in the Chinese market [7] - The rise of affordable workwear, such as 50 yuan jackets, has gained popularity among delivery workers, indicating a shift in consumer demand towards high-value, functional apparel [7] Top Brand News - Li Ning has launched a collaboration with Pokémon, introducing nine trendy shoe models that blend nostalgic elements with modern design [9] - Camel, a domestic brand, is seeing a rise in market share due to its affordable jackets, with a projected market share of 5.5% and retail sales of 5.6 billion yuan in 2024 [9] - Kappa has introduced a new ski series that combines high-performance materials with stylish design, catering to both outdoor and urban environments [10] - Adidas Originals has partnered with Avavav to release a new collection that challenges the boundaries of sportswear with a focus on exaggerated aesthetics and deconstruction [12]

服装丨市场观察 本周看点： -《Big Facts: 2025 Trends》年度趋势报告； -中国中产又一次拯救加拿大鹅； -50元一件冲锋衣，打工人爱上"骑手同款"。 行业环境 1.StockX 发布《Big Facts: 2025 Trends》年度趋势报告 关键词：跑步风格,二级市场,消费需求,专业篮球,薄底鞋 概要：StockX报告《BigFacts:2025Trends》预测2025-2026年消费趋势：ASICS Gel-1130为最 畅 销 跑 鞋 ， Saucony 、 Mizuno 增 长 显 著 ；Nike Ja3 、 Kobe6 Protro 领 跑 篮 球 鞋 ， Converse Shai001热销。薄底鞋（如New Balance 204L、adidas Samba Jane）和芭蕾风鞋款（增长21%） 流行。收藏品中"丑萌"风格受青睐，Labubu领先，小众品牌增速快。假日季热门款包括Jordan 系列和ASICS Gel-1130，显示消费者追求性能与独特设计。 2.双11价格战再起，有工厂怕原料涨价提前半年囤货 关键词：羽绒服,价格战,优惠券,销量,客单价 概要：今年双十一 ...

Core Points - The Ministry of Finance and the Ministry of Commerce have publicly announced the results of the competitive review for pilot cities in new consumption formats, with three cities from Fujian selected: Fuzhou, Quanzhou, and Xiamen [1] Group 1: Pilot Cities Selection - Three cities in Fujian, namely Fuzhou, Quanzhou, and Xiamen, have been selected as pilot cities for new consumption formats [1] - The initiative aims to support around 50 cities, focusing on large and super-large cities with significant population bases and development potential [5] Group 2: Policy Implementation - The policy implementation period is set for two years, as outlined in the notification from the Ministry of Finance and the Ministry of Commerce [5] Group 3: Support Directions - The support directions include establishing a comprehensive first-release economic service system, promoting innovative service consumption scenarios, and facilitating cross-industry collaborations with well-known IPs [6][7][8] - The initiative encourages the creation of first-release centers and economic clusters in key commercial areas, cultural venues, and creative parks [6] - It also aims to enhance service consumption by integrating digital technologies like AI and the metaverse into various sectors such as entertainment, tourism, and health [7] - The program supports the development of unique consumption spaces that leverage local cultural resources and promote new consumer brands [8]

Core Insights - The article discusses the contrasting trends in the collaboration strategies of the tea and coffee industries in China, highlighting a significant decline in tea collaborations while coffee collaborations are thriving and expanding rapidly [4][6]. Group 1: Market Trends - In 2025, the number of new tea drink collaborations dropped from 149 in the same period of 2024 to 72, representing a decline of over 50% [7]. - Conversely, coffee brands increased their collaboration activities, with major brands initiating 92 collaborations from 2024 to July 2025, and Luckin Coffee leading with 24 collaborations in 24 months [7][9]. Group 2: Reasons for Coffee Collaboration Growth - The coffee market in China is growing at an annual rate exceeding 30%, indicating significant untapped potential. Collaborations serve as an effective means for coffee brands to reach new customers and enhance brand visibility [9]. - Coffee brands are targeting younger consumers, particularly the Z generation (ages 18-35), who are willing to pay a premium for limited edition products, with 35% of them participating in events specifically for exclusive merchandise [9]. Group 3: Evolution of Collaboration Strategies - The approach to collaborations has shifted from merely leveraging traffic to creating value through deep co-creation. This includes a focus on IP strategies that prioritize emotional connections and cultural relevance [10][18]. - Local IPs are gaining prominence, with over two-thirds of summer collaborations utilizing domestic IPs, reflecting a cultural shift among younger consumers who prefer content that resonates with their identity [11]. Group 4: Long-term Collaboration Models - The collaboration model has transitioned to long-term co-creation, reducing costs and enhancing emotional connections with consumers. For instance, Luckin Coffee's ongoing partnership with the "Red Mansion" ballet demonstrates this shift [18][21]. - Traditional models where IPs only provided image licensing have been replaced by deeper involvement in product development and marketing strategies, as seen in collaborations between brands like Blue Bottle Coffee and Marimekko [22].

Core Viewpoint - The Ministry of Finance and the Ministry of Commerce issued a notice to support pilot projects for new consumption formats, models, and scenarios, aiming to boost consumption and economic growth in major cities [3] Group 1: Pilot Project Support - The notice supports around 50 cities, focusing on large population centers with strong potential for economic impact, with a two-year implementation period [3] - The support includes enhancing the first-release economic service system and innovating diverse service consumption scenarios [3] Group 2: Development of Consumption Centers - The initiative aims to create first-release centers and economic clusters in key commercial areas, cultural venues, and creative parks, establishing platforms for product launches [4] - It encourages leading domestic and international brands to open high-profile flagship and concept stores, promoting the development of these stores into headquarters [4] Group 3: Innovation in Consumption - The notice supports innovative products and services in sectors such as fashion, electronics, beauty, and automotive, facilitating launch events and exhibitions [4] - It promotes the application of digital technologies like AI and the metaverse in various fields, creating new consumption scenarios that integrate travel, culture, and sports [4] Group 4: Cross-Industry Collaborations - The initiative encourages collaborations between quality consumption resources and well-known intellectual properties (IPs), leveraging digital platforms to enhance the consumer experience [5] - It aims to develop new stores and flagship locations for traditional brands and new consumer brands, focusing on local cultural characteristics and innovative consumption scenes [5]

Core Viewpoint - The article discusses the significant progress in the pilot program for new consumption formats, models, and scenarios initiated by the Ministry of Finance and the Ministry of Commerce to stimulate domestic demand and unleash consumer potential [1][2]. Group 1: Pilot Program Details - On November 20, 50 cities were officially announced as candidates for the pilot program, including all four direct-controlled municipalities and five cities with independent planning, covering major provinces [2]. - The pilot program will last for two years, with the central government providing up to 400 million yuan per city in financial subsidies based on city size, aimed at enhancing the consumption market [4][6]. - The funding will be allocated in two batches, with remaining funds distributed based on performance evaluations [6]. Group 2: Focus Areas of Support - The program emphasizes three main areas for support: 1. Establishing a robust first-release economic service system, including the creation of first-release centers and platforms for product launches in key commercial areas [7]. 2. Innovating diverse service consumption scenarios, promoting the transformation of traditional shopping areas into multi-functional consumption hubs [7]. 3. Supporting collaborations between quality consumption resources and well-known intellectual properties (IPs) to create engaging consumption experiences [8]. Group 3: Economic and Employment Impact - The pilot program aims to enrich consumption supply while activating industry innovation and stabilizing employment, with expectations to create numerous job opportunities across various service sectors [10][11]. - The initiative will focus on high-quality, innovative consumption offerings to meet diverse consumer demands and promote typical experiences to stimulate innovation in the consumption sector [11].

Core Insights - The ninth DMAA International Digital Marketing Awards and Performance Growth Forum was successfully held in Shanghai, focusing on the theme of "performance growth" and serving as a significant brand showcase and industry gathering [1][3] - The forum aimed to bring together industry professionals to discuss the rapid changes in the marketing landscape and the importance of continuous learning [5][6] - The event featured two roundtable discussions addressing key industry challenges, emphasizing the necessity of "brand effectiveness" as a core issue for all brands [7][12] Group 1: Event Overview - The forum was organized to reconnect industry professionals after the DMAA awards relocated to Guangzhou, highlighting the deep-rooted connection between DMAA and Shanghai [3][5] - The event was designed as a multi-dimensional platform for exchanging ideas, helping practitioners navigate the evolving marketing landscape [6] Group 2: Roundtable Discussions - The first roundtable focused on "breaking boundaries in performance and effectiveness," with experts discussing the challenges brands face in aligning product development with market trends [9][10] - Six God brand director shared insights on product innovation and marketing strategies that successfully engaged younger consumers, emphasizing the importance of maintaining brand identity while adapting to market demands [9][10] - The second roundtable addressed the "mental compounding curve of brand building," stressing the need for brands to break out of information silos and create quality content to engage diverse audiences [12][14] Group 3: Awards and Future Directions - The DMAA International Digital Marketing Awards aims to recognize outstanding cases that achieve a balance between brand value and business growth, with a focus on innovative marketing practices [7][15] - The awards will continue to emphasize "value growth" as a core theme, exploring new marketing scenarios and sustainable brand asset development [17][20] - The event concluded with an invitation for brands and agencies to submit their best marketing cases for the 2025 awards, aiming to define new heights in digital marketing [20]

Core Insights - The strategic partnership between Guyue Longshan and China Resources Beer aims to create a new category of products by combining yellow wine and beer, targeting modern social drinking preferences [1][2] Group 1: Partnership Details - The signing ceremony took place at China Resources Building in Beijing, marking the official collaboration between the two companies [1] - The partnership is exclusive, with Guyue Longshan being the sole collaborator for the "yellow wine + beer" crossover products, establishing a strategic alliance with market exclusivity [1] Group 2: Product Development - The collaboration will leverage the unique flavors and cultural heritage of Guyue Longshan's Shaoxing wine, creating innovative products that appeal to contemporary taste preferences and social contexts [2] - The joint products are set to launch this year, starting with pilot promotions in East China before expanding nationwide, aiming to build a comprehensive national operational system [2] Group 3: Market Strategy - The partnership intends to utilize the marketing network and operational experience of China Resources Beer to support the distribution of the new products, while Guyue Longshan's cultural depth will enhance brand value and differentiation in a competitive market [1] - The marketing strategy will focus on breaking the traditional image of yellow wine, targeting younger consumers through trendy marketing in various social settings like camping and music festivals [2]