转自：成都日报锦观 以春节经济撬动消费增长 □本报评论员 丙午马年新春将至，2月4日晚，以"九天开出一成都·万户千门入画图——到成都街头走一走"为主题的 2026成都新春活动正式发布。 春节是重要的传统节日，也是居民消费旺季，这一现象被概括为"春节经济"。去年底召开的中央经济工 作会议，把坚持内需主导，建设强大国内市场列为重点任务之首，部署深入实施提振消费专项行动、扩 大优质商品和服务供给等举措。 以春节经济惠民生、促消费，今年春节假期延长至9天，居民旅游出行需求将更加旺盛，为扩大消费、 提振内需提供了新机遇。连日来，国内多地也密集推出应季应景的特色文旅活动、消费惠民措施，以充 分激活春节经济的消费潜能。 比如，北京市以"骏马贺新春 京彩中国年"为总主题，推出七大系列、5000余项春节文化活动，喜迎京 彩中国年；广州市以"年味最广州"为主题，精心策划6大板块、2000余场文旅活动，广府年味扑面来； 杭州市则以"六在杭州"新春消费场景、"百骏迎春"系列主题活动，打造新春消费季……从文旅到消费， 可以预见的是，一系列精彩活动将更好丰富群众生活、繁荣节日市场。 春节经济本质上是各类消费需求的集中释放，既考验各地抓住 ...

Group 1 - The article highlights a surge in sales driven by substantial discounts and a strong demand for quality consumption [2] - National and local policies are supporting initiatives that promote consumption and enhance agricultural development, setting a new benchmark for these efforts [2] - The Shandong province has launched a special live-streaming event for agricultural products, which will run throughout the Lunar New Year period [2]

Core Viewpoint - Heilongjiang Province is launching a series of cultural and tourism activities themed "Ice and Snow World, Dragon Horse Spirit" for the upcoming Spring Festival, aiming to provide a vibrant and festive experience for both locals and tourists [1]. Group 1: Tourism Activities - The province has introduced ten major travel routes for the Spring Festival, including "Snowy Adventure," "Northern Health and Wellness," and "Polar Crossing," featuring over a hundred unique tourism routes that offer experiences such as ice and snow tourism, rural tourism, educational travel, and border tourism [3]. - Specific routes include the "Harbin-Yabuli Snow Tourism Loop," "Qiqihar Snowy Crane Town," and "Mudanjiang Snowy Rhythm," among others, designed to showcase the region's winter charm [3]. Group 2: Cultural Exhibitions - Over 200 exhibitions and activities are planned, including the "National Treasures Gathering in Ice City" exhibition and various cultural showcases related to the Year of the Horse, allowing visitors to appreciate precious artifacts and traditional craftsmanship [5]. - Notable exhibitions include "Horse Dance New Year" and "Non-heritage Celebrating the New Year," which aim to deepen the understanding of traditional culture [5]. Group 3: Performing Arts - The second "Passionate Ice and Snow" tourism performance season has commenced, featuring over a hundred artistic performances across various venues, including theaters, tourist attractions, and urban areas, enhancing the cultural atmosphere during the New Year [7]. - Performances include "Gorgeous Beijing Opera" and interactive parades, making cultural experiences accessible to the public [7]. Group 4: Traditional Customs - More than 250 traditional activities are scheduled, such as the Harbin Ice Lantern Festival and various folk events, allowing tourists to immerse themselves in local customs and the festive spirit [8]. - Activities include snowball fights, dumpling-making competitions, and traditional dance performances, showcasing the vitality of the "Dragon Horse Spirit" [8]. Group 5: Shopping Promotions - Key commercial enterprises in the province are launching promotional activities, including discounts and gift offerings, featuring local products like "Heilongjiang Red Sausage" and "Qiqihar Barbecue" [9]. - The initiative aims to facilitate convenient shopping for tourists, highlighting the region's culinary and artisanal offerings [9]. Group 6: Special Activities - To enhance the value of visitors' experiences, Heilongjiang is introducing the "2026 Happy Shopping" special event during the Spring Festival, distributing over 200 million yuan in business and tourism consumption vouchers [10]. - This initiative invites tourists from all over to enjoy the unique flavors of the northern ice and snow [10].

Investment Rating - The report assigns an "Outperform" rating to multiple companies in the discretionary consumption sector, including Nike, Li Ning, Midea Group, JD Group, Haier Smart Home, Gree Electric, Anta Sports, and many others [1]. Core Insights - The report highlights that overseas consumer earnings releases have led to stock price volatility, with A/H shares anticipating a recovery in discretionary consumption in 2026 [1]. - The performance of various sectors is analyzed, with gaming, U.S. hotels, snacks, and retail showing positive trends, while luxury goods and overseas cosmetics are experiencing declines [4][12]. - The report notes that the valuation of discretionary consumption sectors remains below the average of the past five years, indicating potential investment opportunities [10]. Sector Performance Summary - **Gaming Sector**: Increased by 5.5%, driven by strong growth in gross gaming revenue and positive earnings from major companies like MGM China [6][14]. - **U.S. Hotels**: Also up by 5.5%, with positive earnings forecasts from Marriott and Hilton [14]. - **Snacks Sector**: Rose by 3.6%, with companies like Youyou Foods and Qiaqia Foods showing strong sales growth [14]. - **Retail Sector**: Increased by 3.5%, led by Walmart and Target, which reported better-than-expected same-store sales [14]. - **Domestic Sportswear**: Grew by 2.6%, with Li Ning benefiting from its partnership with the Chinese Olympic Committee [14]. - **Credit Card Sector**: Up by 2.3%, supported by strong earnings from Visa and Mastercard [14]. - **Domestic Cosmetics**: Increased by 2.1%, benefiting from the overall strength in the beauty and skincare sector [14]. - **Luxury Goods**: Slightly up by 0.9%, influenced by a rebound in the U.S. market [14]. - **Overseas Sportswear**: Increased by 0.7%, with Nike announcing the opening of its first ACG store in Beijing [15]. - **Pet Sector**: Decreased by 0.7%, with companies like Guobao Pet and Zhongchong Co. facing declines [15]. - **Gold and Jewelry**: Down by 1.2%, affected by fluctuations in gold prices [15]. - **Overseas Cosmetics**: Fell by 5.7%, with Estée Lauder experiencing a significant drop [15].

Group 1 - Major shopping districts in Beijing have launched a series of themed activities to attract consumers as the Spring Festival approaches [1] - Wangfujing Street features the theme "Galloping Horses, Fortune Fills the Golden Street," with activities running from January 12 to March 18, including the introduction of trendy projects like Li Ning's "Dragon Store" [1] - Qiaofu Fangcaodi Shopping Center is hosting the "Kung Fu Panda New Year Market," featuring over 30 different quality goods from February 12 to March 3 [1] Group 2 - Haidian Joy City has planned the theme "Celebrate the New Year with Haidian Joy City," with events such as lion dances and technology temple fairs running from the Little New Year to the Lantern Festival [1] - These activities are expected to stimulate consumer enthusiasm during the Spring Festival, providing strong momentum for Beijing's New Year economy [1]

Core Viewpoint - The consumer market in Changsha is experiencing a significant boost ahead of the Year of the Horse, with increased sales in gold jewelry and new Chinese-style clothing, as well as various cultural activities to enhance the festive atmosphere [1][3][4]. Group 1: Gold Jewelry Sales - Gold jewelry, particularly Year of the Horse themed items, is seeing high demand despite prices nearing 1600 yuan per gram, with sales in some stores increasing by over 20% year-on-year [1]. - Popular items include small weight pendants and woven gold bead bracelets, priced around 1,000 to 2,000 yuan, appealing as both gifts and collectibles [1]. Group 2: Clothing Market - The traditional custom of wearing new clothes for the New Year is driving a surge in the clothing market, with significant foot traffic in various shopping centers [3]. - New Chinese-style clothing is particularly popular for family gatherings, with items like a traditional vest and skirt set selling out multiple times due to their festive appeal [3]. Group 3: Cultural Activities - Various shopping districts are integrating traditional cultural elements with modern trends, hosting events that showcase intangible cultural heritage and local delicacies [4][5]. - Activities include performances of traditional arts, food stalls, and interactive sessions with cultural artisans, enhancing the shopping experience [4]. Group 4: Store Operations During the Holiday - Many retailers are adjusting their operating hours to accommodate both consumer demand and employee family time, with a "no closure" policy during the holiday season [8]. - Most shopping centers are extending their hours leading up to the New Year, while closing early on New Year's Eve and opening later on the first day of the New Year [8][9].

Group 1 - The core idea of the articles revolves around the vibrant consumer activities and events taking place in Shanghai and Yangpu District during the upcoming Spring Festival, aimed at boosting the festive shopping atmosphere [1][2]. Group 2 - In Shanghai, various commercial complexes are enhancing their New Year decorations and launching significant discounts on a wide range of products to attract consumers during the festive season [1]. - The "Play with Yangshu Pu" consumption vouchers, totaling over 10 million yuan, will be distributed in batches to stimulate both online and offline consumer activity in Yangpu District [2]. - Major platforms like Meituan, Douyin, and JD.com will host online New Year goods festivals, creating a complete consumption loop through "online promotion and offline traffic" [2]. Group 3 - Events such as the "Happy Bouncing" 30th anniversary gathering in the Nanjing Road business district are drawing families, leading to increased foot traffic and shopping opportunities [2]. - Retailers are offering exclusive discounts and interactive activities, such as cash prize draws and God of Wealth parades, to enhance the festive shopping experience [2].

Group 1: Local Markets and Products - The "Tanyang Grand Market" in Fujian Province features over 500 stalls and nearly 1,000 types of products, attracting shoppers for New Year goods and local delicacies [1] - In the rural market, local specialties such as pomelo, puffed cake, winter bamboo shoots, camellia oil, and smoked duck are popular, alongside activities like writing Spring Festival couplets and paper-cutting displays [2] - In Guizhou Province's Qiling County, local agricultural products like chestnuts, mountain walnuts, and "Qiling navel oranges" are in high demand, with efforts to extend the harvest period from one month to nine months [3][5] Group 2: Economic Initiatives and Support - The local government in Guizhou is integrating cooperative resources to enhance online and offline sales channels, utilizing a "cooperative + farmer" model to connect with supermarkets and e-commerce platforms [3] - Financial support is being provided to the navel orange industry through credit assistance, technical support, and logistics optimization, promoting a shift from single crop cultivation to a full-chain development model [4] - The total planting area for navel oranges in Qiling County has reached 14,000 acres, with an expected annual output exceeding 10 million pounds, resulting in an average income increase of 21,000 yuan per household in core production areas [5] Group 3: Cultural Heritage and Urban Development - The "Hundred-Year Water Street" in Nanning has been renovated to preserve its historical architectural style while incorporating modern commercial functions and cultural display spaces [6] - The renovation process involved restoring historical features based on archival photographs and remnants, ensuring the maximum preservation of the street's historical appearance [8]

Core Insights - The "Shazhi Chuan (Yinchuan) Outlet" has successfully attracted significant consumer traffic and sales since its opening, indicating a strong market response to new retail experiences in Ningxia [3][7]. Group 1: Project Overview - The "Shazhi Chuan (Yinchuan) Outlet" opened in September 2022, with the accompanying "Jiangnan Water Street" launching in December 2022, quickly becoming a popular destination for consumers [3]. - In the first three months of operation, the outlet achieved sales of 200 million yuan, with January 2023 sales reaching 82.47 million yuan, leading the retail market in Yinchuan [3]. - The outlet recorded a foot traffic of 2.496 million visits in January 2023, with a repurchase rate exceeding 20% and 30% of visitors coming from outside Ningxia [3]. Group 2: Consumer Experience and Brand Strategy - The outlet features over 400 brands, including more than 90 first stores in Ningxia and outlet first stores, effectively filling local market gaps [7]. - Popular domestic brands like Li Ning and Kailas have seen monthly sales exceeding 1 million yuan at their first stores in the outlet, appealing to younger consumers [7]. - The "Mingyao Ji" self-service barbecue tavern, established in 2023, has rapidly expanded to over 236 locations nationwide, showcasing the potential of local brands in innovative consumer experiences [8]. Group 3: Government Support and Market Trends - Government initiatives, such as the issuance of consumer vouchers and expedited licensing processes, have played a crucial role in the project's success [7]. - The Ningxia government aims to introduce 108 first stores by 2025 and plans to distribute 580 million yuan in consumer vouchers to stimulate over 9 billion yuan in market consumption [8]. - Local supermarkets, like Wumart, are also adapting to e-commerce challenges by enhancing consumer shopping experiences, resulting in significant sales increases [11].

Group 1 - The "Lego Sanya Full Throttle" 2026 New Year Goods Festival commenced on February 7 at the Dadonghai Square, featuring a theme of "Global Selection, Hainan Characteristics, and Enjoyment for All" [1] - The event showcases products from around the world as well as local Hainan specialties, aiming to enhance consumer engagement [1] - The festival will run until February 11, providing a platform for both local and international goods [1] Group 2 - The New Year Goods Festival attracted foreign tourists who participated in shopping activities [5] - Various performances, including fire-breathing acts by artists, were featured during the festival to entertain attendees [3] - A themed stage performance titled "Fantasy Night" was held, offering an immersive audio-visual experience for visitors [9]