Group 1 - The core viewpoint of the report emphasizes the transformation of consumer demand from "pleasing others" to "self-pleasing," indicating a structural change in consumption patterns that favors new consumption trends over traditional ones [4][9] - The report identifies three main lines of investment focus: new demand, new products, and new channels, suggesting that companies that can quickly adapt to these changes will outperform in the market [4][6] - The report highlights the government's ongoing efforts to stimulate consumption through various policies, which are expected to enhance consumer confidence and income, leading to a gradual recovery in the consumption market [7][8] Group 2 - New demand is characterized by a focus on cost-effectiveness, emotional value, and health consciousness among consumers, driven by generational differences in spending intentions [4][14][23] - The report notes that health-oriented products are gaining traction, with companies innovating in healthy snacks and beverages to meet rising consumer expectations for health benefits [28][36] - The emergence of new sales channels, such as bulk snack stores and membership-based supermarkets, is reshaping the retail landscape, allowing companies to better meet consumer demands for quality and convenience [57][63] Group 3 - The report discusses the rapid growth of the bulk snack store sector, which has become the leading channel for snack sales in China, reflecting a shift in consumer shopping habits [57][59] - Membership-based supermarkets are also highlighted as a growing trend, providing high-quality products at competitive prices, which appeals to consumers seeking value [63][66] - Traditional supermarkets are undergoing significant transformations to adapt to the competitive landscape, with successful case studies demonstrating substantial sales increases following strategic adjustments [69][70]