Customer saturation
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泡泡玛特:中国销售追踪:线下增长与产能效率放缓;2026 年风险提示
2026-01-20 03:19
To supplement our Pop Mart high-frequency tracker report (link), we launch this tracker dedicated to China sales tracking, covering ~70% China revenue from offline store data and online platform data. November results indicate a sharp deceleration in offline growth and productivity, raising questions about 2026 sustainability. 13 January 2026 China Consumer Pop Mart China Sales Tracker: Deceleration in offline growth and productivity; risks in 2026 Melinda Hu +852 2123 2643 melinda.hu@bernsteinsg.com Kai Zh ...