6月，抖音《2025年轻人情绪消费趋势报告》（以下简称：《报告》）显示，6成消费者更重视精神消费，9成消费者更愿意为情绪溢价付费，2025年中国"情 绪消费"市场规模有望突破2万亿元……情绪价值成为消费新刚需的当下，黑龙江正悄然掀起一场"情绪经济"的热潮，也展现出消费升级趋势。 龙江大地的治愈方程式 哈尔滨井街胡同一家宠咖的雪狐"豆包"近日成为网络焦点。2024年，店主于女士敏锐捕捉到黑龙江冰雪旅游热潮中游客对冰城狐狸的喜爱，将这只白毛雪狐 引入店内作为特色"店员"。"凭借温顺亲人的性格，豆包可与顾客亲密互动，为我们小店吸引了超高人气，单日最高接待超百位顾客，不少游客直呼'不虚此 行'。" 豆包和它的伙伴"营业"中 除了这位"颜值担当"，店内的小狗、猫咪等宠物"店员"同样热情好客，让不少顾客慕名而来、多次回访。于女士告诉记者，许多承受学业、工作压力的顾 客，不愿倾诉时便会选择来宠咖。他们抱着心仪的小动物，静享一下午时光。在她看来，宠物之所以能成为人们心灵的抚慰者，在于其能填补都市人内心的 空缺——无论是因条件限制无法养宠，还是异地求学工作的孤独，这些毛茸茸的伙伴都能给予温暖陪伴，带来治愈力量。 记者在《报告》 ...

25 June 2025 Equity Research Report China Consumer Equities 2H25 outlook: Will 'old' and 'new' consumption continue to diverge? What's different in 1H25 from our expectations: In our 2025 annual outlook report, we listed three investment themes for the year: (1) policy beneficiaries; (2) market share gains; and (3) an improving industry outlook with higher yield (China Consumer: 2025 outlook: Green shoots to emerge, 22 November 2024). We noted (1) slower- than-expected launch of consumption stimulus policie ...

Core Insights - Pop Mart has achieved record-breaking growth and global expansion through emotional consumption and IP innovation, with significant revenue increases projected for 2024 and 2025 [1][2]. Financial Performance - In 2024, Pop Mart's revenue exceeded RMB 13 billion, marking a fivefold increase since its listing on the HKEX in 2020 [2]. - The company's gross profit margin improved to 66.8% in 2024, with operating profit increasing by 238% [9]. - Revenue from overseas markets rose from 9.8% of total revenue in 2022 to 38.9% in 2024, indicating successful international expansion [11]. Brand Development - Pop Mart transitioned from a trendy variety store to a curated pop toy store, leveraging the blind box trend and original IP collaborations to drive growth [3][4]. - The company has focused on enhancing IP quality and diversifying its product offerings, including lifestyle products and collaborations with cultural IPs [16][28]. Consumer Engagement - Pop Mart has effectively utilized the blind box model to create emotional connections with consumers, fostering loyalty and repeat purchases through marketing and social media engagement [18][19]. - The brand has expanded its IP universe, with characters like "HIRONO" and "LABUBU" resonating with consumers and becoming symbols of self-expression and cultural identity [21][25]. Market Challenges - The competitive landscape in the pop toy industry is intensifying, with emerging players and established IPs posing challenges to Pop Mart's market position [30][32]. - Managing the lifecycle of original IPs and maintaining innovation will be critical for sustaining growth and consumer interest in the long term [32][33].

凤凰网财经讯 5月8日，三大股指低开，沪指跌0.34％，深成指跌0.23％，创业板跌0.12％，机器人概念 股走弱。 外围市场： 美股收盘，道琼斯指数涨0.70%，报41,113.97点；标普500指数涨0.43%，报5,631.28点；纳斯达克指数 涨0.27%，报17,738.16点。 热门中概股普跌，纳斯达克中国金龙指数跌2.34%，阿里巴巴跌3.47%，京东跌0.70%，拼多多跌 1.73%，蔚来汽车跌2.04%，小鹏汽车跌2.84%，理想汽车涨2.38%，哔哩哔哩跌3.83%，百度跌4.97%， 网易跌2.29%，腾讯音乐跌1.11%。 ③光大证券：汽车行业关注节后终端优惠变化，聚焦智能化主题 光大证券研报指出，4月车市表现平稳，新车上市/老车型终端优惠持续提振新势力销量。预计以旧换新 驱动的2025E国内销量提振前景依然可期，建议持续关注订单、以及终端优惠变化。智驾+机器人共 振，智能化主题有望持续发酵，看好已在车端积累充足智驾算法/芯片自研能力的车企、以及延伸布局 机器人的配套产业链。 ④开源证券：围绕情绪消费主题，沿"黄金珠宝、线下零售、化妆品、医美"四条主线布局 开源证券研报指出，展望202 ...