消费场景的创新则是打破传统消费模式、释放增量需求的关键驱动力。单纯的商品交易已难以满足消费 者当下的复合需求，"沉浸化、休闲化、个性化"日益成为新的消费导向。近期消费市场的鲜活案例就生 动印证了这一趋势：哈尔滨冰雪大世界跨年夜门票早早售罄，冰雪主题体验带动周边餐饮住宿持续升 温；南宁举办的明星跨年演唱会，带动全市酒店预订量同比激增17倍，形成"为一场演出赴一座城"的消 费热潮……这些现象表明消费场景正在从"单一购物"向"多元体验"转型，更证明了场景创新能够有效挖 掘增量需求、拓展消费边界。 从根本上说，"扩大优质商品和服务供给，创新多元消费场景"的政策部署，既是应对当前消费市场结构 性挑战的务实之举，也是着眼长远扩大内需的战略抓手。为促进短期刺激向长期增长有效转化，笔者认 为应从以下三方面重点着力： 其一，引导企业加大研发投入，推动产品迭代与服务升级，形成需求牵引供给、供给创造需求的良性循 环，促进产业转型升级；其二，健全消费长效保障机制，多措并举稳定居民收入预期、完善社会保障体 系，切实提升居民长期消费能力，破解"不敢消费、不愿消费"的痛点堵点；其三，总结和推广场景创新 成果，将假期的场景创新成功经验转化为 ...

| 摘 要 | 在互联网时代，迷因（meme）已从当今的网络文化中发展为"网络迷因"，逐渐形成具有独特风格的语言表达方式。本文基于肯德基的"疯四文学 梗"进行了实证研究设计，探究网络迷因和用户与品牌之间的影响关系。研究发现，迷因的"相关性"、"娱乐性"、"传播互动性"可以显著正向影响网络用户 对于品牌的购买意愿，同时个人认同和社会认同在迷因的特性与用户的购买意愿之间起中介影响作用。网络迷因可以在用户之间形成有效传播，帮助品牌在 网络中不断积累"声量"，随着用户在参与网络迷因传播时，会通过个人认同和社会认同的因素增强对品牌的购买意愿，从而不断转化为品牌的"销量"。 | 关 键 词 | 网络迷因 品牌传播 个人认同 社会认同 购买意愿 01 研究背景 随着品牌年轻化、数字化、个性化的发展，营销人员当前需要一种符合市场价值规律、契合青年群体特点的新型网络营销方式，帮助他们直接触达消费群 体。网络迷因是一组具有共同特征的数字内容，可由动画、GIF、标签、图像、文本或视频等形式构成，被认为是当前新媒体语境下的一种传播现象 （Milner, 2016）。与传统广告相比，网络迷因可使网络用户在特定的语境下更好理解其内容，通 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The report highlights the rapid growth of the community dining sector in China, with the market size expected to reach RMB 2,137.6 billion by 2028, reflecting a compound annual growth rate (CAGR) of 9.4% from 2023 to 2028 [4][16] - The Hainan Free Trade Port has seen significant policy benefits, leading to increased consumer and trade activity, with notable growth in duty-free shopping and foreign trade enterprises [12][13] - The "oil-based skincare" segment is experiencing expansion, with both international and domestic brands enhancing their product offerings, which is expected to drive industry growth [27][28] Summary by Sections Hainan Free Trade Port Tracking - The first week of the Hainan Free Trade Port's full closure saw duty-free shopping amounting to RMB 1.1 billion, with a year-on-year increase of 54.9% [12] - The number of new foreign trade registered enterprises in Hainan increased by 2.3 times year-on-year, with over 30,000 new registered customs declaration units for the year, up over 40% [12] - Passenger throughput at Meilan Airport increased by 11.8% year-on-year during the first week of closure [13] Community Dining - The community dining sector has grown rapidly, with the market size increasing from RMB 1,141.4 billion in 2018 to RMB 1,365.8 billion in 2023, a CAGR of 3.7% [14][19] - JD's "Seven Fresh Kitchen" has opened over 30 stores in Beijing, aiming to establish 10,000 stores in three years, focusing on a dual model of delivery and self-pickup [18][24] - The "锅圈" (Guoquan) has expanded its store size and product offerings, transitioning from a simple grocery model to a comprehensive community kitchen service [24] Oil-based Skincare - The "oil-based skincare" market is seeing increased competition from both international luxury brands and domestic brands, with a focus on high-quality ingredients and effective formulations [27][28] - Lin Qingxuan has maintained the top market share on platforms like Taobao and Douyin, with a significant increase in its market share on Douyin by 13.8 percentage points compared to the previous year [28][33] - The report emphasizes the importance of product innovation and the introduction of new active ingredients to meet diverse consumer needs [28] Market Performance Overview - The Hong Kong retail sector outperformed the Hang Seng Index, while consumer services and media sectors lagged behind [34][35] - The report notes that the duty-free and dining sectors have shown strong performance, with specific companies like 多想云 (Duoxiangyun) and 中国中免 (China Duty Free Group) leading in stock performance [43][44]

转自：扬子晚报 一半书卷气，一半烟火气。来惠山，一定要来"天上村前"走一走。这里白墙黛瓦映着岁月清欢，90余处 明清古建筑散落其间，孕育出胡壹修、胡雨人、胡敦复等近百位科教名家，被誉为"乡村建筑露天博物 馆""中国近代科教第一村"。本期读城，让我们踏足这片街区，从一条街的古韵、一台戏的余韵、一碗 面的暖香里，读懂"天上村前"新时代下文脉赓续、烟火升腾的鲜活气象。 有别于"千村一面"的商业窠臼，这里更像一处安放心灵的"南书房"。街区一期占地面积50余亩，完整保 留着"四馆"（胡氏公立蒙学堂、胡壹修/胡雨人故居、胡汉学旧居、胡氏积谷仓）、百年钟楼、天上市 图书馆等21处文保单位，其中"四馆"于2024年9月正式对外开放，通过数字大屏、AR互动问答等科技手 段，让不可见的家风家训、诚勤立达的贤达精神，变得可感可触、趣味十足。 01.一条街浸润古韵书香HUI SHAN 村前古村的文脉，远溯北宋大儒胡瑗，其"明体达用"的教育理念，早已化作基因融入古村肌理；清末以 来，胡氏家族在此兴建胡氏公学，开办天上市图书馆，重教兴学的家风延绵至今。清初至民国，无锡划 十七市乡，村前属天上市，遂得雅称"天上村前"。这座流转六百年光阴的 ...

Group 1 - The core viewpoint of the report emphasizes that the restaurant industry is experiencing a weak recovery, with leading brands pursuing diversified growth strategies, particularly in the tea beverage sector, which shows promising investment opportunities [3][5][9] - The report highlights that from January to November 2025, the national restaurant revenue increased by 3.3%, lagging behind the 4.1% growth in retail sales, indicating a continued weak recovery in demand [3][13] - The online channel is identified as a structural growth driver, with significant benefits observed in the coffee and tea sectors due to the ongoing competition in instant retail [3][14] Group 2 - The analysis of the market performance indicates that leading tea beverage brands have significantly benefited from the delivery competition, with companies like Luckin Coffee and Mixue Group showing substantial stock price increases of 39.2% and 45.4% respectively [3][33] - The report notes that the performance of restaurant leaders is varied, with some brands like Guoquan and Xiaocaiyuan showing strong same-store sales growth, while others face pressure [3][33] - The investment framework for 2025 suggests that the valuation of leading tea beverage brands is shifting due to changes in performance expectations, with same-store revenue growth serving as a key valuation anchor [3][8][9] Group 3 - The sub-industry analysis reveals that the ready-to-drink tea segment is experiencing a surge in revenue and adjusted net profit, with a year-on-year increase of 32.5% and 58.0% respectively in the first half of 2025 [3][44] - The report indicates that the fast-food sector shows resilience, with brands like KFC and Xiaocaiyuan maintaining stable same-store sales growth despite broader market pressures [3][53] - The report also highlights that the overall restaurant sector is under pressure, particularly in the casual dining segment, which is affected by various factors including the rise of pre-packaged meals [3][53] Group 4 - The investment recommendations maintain an "outperform" rating for the restaurant sector, emphasizing the strong operational capabilities of leading brands and their potential to navigate through market cycles [3][9] - The report suggests that while the tea beverage sector faces growth challenges, leading companies with strong operational and innovative capabilities are expected to gain market share [3][9] - The report identifies specific companies such as Haidilao, Yum China, Guoquan, and Mixue Group as key investment targets for 2026, based on their strong same-store recovery potential and favorable franchisee returns [3][9][66]

Core Insights - The major fire incident at the Sanli Chuniang restaurant in Liaoyang, Liaoning Province, was attributed to the restaurant's failure to implement safety responsibilities, illegal renovations, and the use of flammable materials, leading to significant casualties and economic losses [1][2] Group 1: Incident Overview - The fire occurred on April 29, 2025, resulting in 22 fatalities and 3 injuries, with direct economic losses amounting to 25.36 million yuan [1] - The fire was ignited by a discarded cigarette butt from a customer, which, aided by wind, entered a maintenance opening and ignited combustible materials stored inside [1] Group 2: Investigation Findings - The investigation revealed that the restaurant's exterior was improperly constructed using aluminum-plastic panels with flammable core materials, and there was a failure to maintain fire safety equipment [1] - Local government and relevant departments were found to have inadequately fulfilled their responsibilities, contributing to the severity of the incident [1][2] Group 3: Lessons Learned and Recommendations - Key lessons include the need for local authorities to deepen their understanding of safety risks and for businesses to prioritize safety alongside development [2] - Recommendations include legal action against the restaurant's operators and accountability measures for 40 public officials involved in the incident [2]

转自：北京日报客户端 饭店主厨甄建军告诉记者，31晚13个包间前些天就已预订一空，订包间的几乎都是大家庭聚餐，有近七 成都是老顾客。"有些老顾客年年都来我们这儿跨年，最早的提前一个月就来电话预订包间了。"他说。 记者了解到，这些经典菜有的工艺复杂、食材难得，有的则因消费习惯变迁，逐渐淡出日常菜单。如 今，老字号在元旦假期将其重新呈现，摆盘时还会配以说明菜笺，讲述菜品的历史渊源和制作技艺。 位于崇文门新世界百货的老字号萃华楼和森隆饭庄，31日晚上的十几个包间也已经预订一空。为了迎接 新年，森隆饭庄特意准备了十道新菜。饭店大厨将淮扬传统菜手工鱼圆用鲜鸡汤慢煨，温润滋养；南方 冬季时令菜茨菇也被端上餐桌，以浓香肉汁和粉糯茨菇烩制而成，暖身暖心。 新年将至，一批老字号的经典菜将"限时回归"。市民王先生一家是同和居的铁杆粉丝，听说店里"贵妃 鸡"要在元旦假期"复出"，一家人赶忙就给店里打电话预订了餐位。"这道菜我父亲很喜欢，可惜后来吃 不到了，老爷子惦记了好多年，这次一定要带他再去吃一次。" 同春园的"红烧划水"也将在元旦期间限时供应，先煎后烧的技法，既保留江南的细腻口感又融入北方的 醇厚风味，不少老食客都说，忘不了这 ...

百胜中国(09987)发布公告，于2025年12月26日斥资320万美元回购6.5万股。 ...

Group 1 - The report maintains a positive outlook on the retail and consumer services industry, highlighting a continued recovery in consumption and cyclical opportunities [1][2] - In 2025, the consumer services and retail sectors underperformed compared to the CSI 300 index, with the consumer services sector showing better performance than retail [11][16] - The jewelry retail sector experienced significant growth, primarily driven by rising gold prices, while the consumption of gold jewelry faced a decline [24][25] Group 2 - The report identifies two main investment directions for 2026: the continuation of consumption recovery, focusing on high-end sectors like duty-free and gaming, and the sustained high demand for emotional and self-rewarding consumption, particularly in jewelry and trendy products [68][71] - The restaurant industry showed a faster growth rate than overall retail, with a notable increase in the number of registered restaurants, indicating a cautious approach from new entrants [34][40] - The travel sector is recovering steadily, with strong demand during holidays and a positive trend in passenger numbers for civil aviation [45][51] Group 3 - The report emphasizes the importance of brand strength and product differentiation in the jewelry sector, as emotional value increasingly drives consumer choices [29][25] - The restaurant industry is expected to see a rise in chain operations and a focus on cost-effective consumption, with the overall market growth projected at 9.0% from 2020 to 2024 [37][40] - The report notes that the gaming sector remains robust, with Macau's gross gaming revenue showing a year-on-year increase, indicating a strong recovery in this segment [46][51]

随着年末临近，上海街头节日氛围渐浓。在衡复历史文化风貌区内，多处经过微更新的老建筑空间引入 新兴潮牌，迅速聚拢人气，成为市民跨年打卡、消费的热门选择。 责编: 周缇 不远处的东湖路上，一幢临街三层白色小楼"FUFU里"也已焕新亮相，迎来一家芳香护肤品牌入驻。该 店开业仅九天，日均销售额已达5万元。店内除了主营的护肤香氛产品，还在二楼拓展了花草茶饮与咖 啡业态，并将近期推出多款马年限定产品。 据悉，延庆里与FUFU里均以"潮玩乐活"为整体定位，预计将于明年上半年全面正式投入运营。老建筑 与新消费的融合，正为上海历史街区注入新的商业活力与文化魅力。 看看新闻记者: 赵一凡 王天峰 编辑: 张蕴昆 夜幕降临，位于延庆路110号的"延庆里"沿街立面星光点点，新年氛围感拉满，这两天，这里已经成为 这条马路上的排队王。这片建筑面积超2000平方米的街区，在更新中完整保留了原有民居肌理，并通过 优化采光设计，使老建筑更适应商业需求。 徐汇区湖南路街道办事处副主任董佳介绍，今年初，街区已将东湖路、延庆路一带定位为"潮玩乐活"街 区，希望通过渐进式更新腾挪空间，吸引相关品牌入驻，激发街区活力。 ...