贵州日报天眼新闻记者 桂榕 编辑 鲁媛 二审 刘定珲 三审 孙勤 西南家居博览城举办国庆促消费活动现场。 此外，六盘水市积极组织重点经营主体参与省级"多彩贵州欢乐购·助商惠民购物季"活动。自10月1日启 动以来，已累计核销消费券22801笔，带动消费638.6万元，消费乘数效应达6.43，有效激发了市民的购 物热情。 从区域看，水城区（含高新区）大型商超及汽车经销商累计举办3场重点促销活动，实现销售额约为695 万元；钟山区大型商超及汽车经销商统计销售额约为1200万元；盘州市大型商超及汽车经销商统计销售 额达1266.05万元，区域消费呈现均衡活跃态势。 10月9日，记者从六盘水市商务局获悉，国庆中秋假期期间，六盘水市消费市场活力涌动，购销两旺。 市、县两级联动金融及企业等多方力量，围绕商场超市、成品油、家电家居、汽车等板块，叠加省、市 消费券及节日消费热点，全市统筹组织大型商超、汽车经销商等商贸主体开展了24场重点促销活动，实 现销售额7482.62万元，同比上涨16.42%，消费带动效应显著。 ...

（文章来源：证券日报） 证券日报网讯步步高10月9日在互动平台回答投资者提问时表示，公司第三方物流业务快速增长。 ...

Group 1 - The company, Bubu Gao, primarily operates in the retail sector, providing goods retail services through supermarkets and shopping centers to a wide range of consumers [2]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002277 | 友阿股份 | 6.69 | -7.72% | 89.34万 | 5.98亿 | | 601116 | 三江购物 | 13.90 | -5.89% | 36.05万 | 5.02亿 | | 603101 | 汇嘉时代 | 10.40 | -3.44% | 20.84万 | 2.16亿 | | 600605 | 汇通能源 | 32.72 | -3.08% | 3.74万 | 1.23亿 | | 002251 | 步步高 | 5.56 | -2.80% | 175.37万 | 9.72 6 | | 600712 | 南宁百货 | 6.71 | -2.47% | 16.32万 | 1.09亿 | | 605188 | 国光连锁 | 15.35 | -2.29% | 11.42万 | 1.75亿 | | 603682 | 锦和商管 | 5.65 | -2.08% | 8.75万 | 4932.43万 | | 600857 | 宁波中百 | ...

Core Insights - The consumption market in Shandong Province showed vitality and stability during the 2025 National Day and Mid-Autumn Festival holidays, supported by proactive measures from the provincial government and the Ministry of Commerce [1] Group 1: Consumer Activities - Various promotional activities were organized across Shandong to stimulate market potential, including over 30 events in Jinan and food festivals in Qingdao, contributing to a vibrant consumer experience [3] - Cities like Zibo and Zaozhuang launched specific campaigns such as appliance subsidies and automotive exhibitions, enhancing the overall consumer engagement [3] - Other cities also participated with unique local events, including shopping seasons and food festivals, covering multiple sectors like retail, dining, and tourism [3] Group 2: Price Stability and Supply Assurance - A reporting system for market supply fluctuations was initiated, with daily monitoring of essential goods' wholesale prices, showing a general price stability for key items like eggs, seafood, and pork [4] - The provincial government ensured that major retail enterprises maintained sufficient inventory levels to meet consumer demand during the holidays, indicating a solid supply foundation [4] Group 3: Sales Growth - The combined effect of promotional policies and active marketing by enterprises led to a significant increase in sales during the National Day holiday, with 500 key retail enterprises reporting higher sales compared to the previous year [5] - Both product sales and restaurant revenues showed positive growth, reflecting the robust demand in the holiday consumption market [5]

Investment Rating - The report does not explicitly provide an investment rating for the retail industry in China [1]. Core Insights - Offline retail performance in South China was under pressure during Q3 2025 and the first three days of Golden Week, with significant year-on-year declines in sales for many brands [10][11]. - International cosmetics brands experienced weak sales, while domestic brand MAOGEPING showed strong performance during the same period [12]. - Sports brands Li-Ning and Anta outperformed NIKE and ADIDAS, achieving double-digit growth, while the latter two saw declines [13]. - Outdoor brands maintained resilient sales, with higher discount levels compared to sports brands, although overall discount levels remained stable year-on-year [14]. Summary by Sections Offline Retail Performance - In Q3 2025, offline retail sales in Guangzhou showed a double-digit decline both month-on-month and year-on-year, with a slight recovery in sales during the first three days of Golden Week [10]. - The average retail transaction value declined year-on-year, particularly for high-value products and cosmetics, while mid-to-low priced products remained stable [10]. Dining Performance - Dining performance during Golden Week showed divergence, with traditional Cantonese cuisine performing strongly, while Western and Japanese cuisines faced declines [11]. Cosmetics Sales - 70% of international cosmetics brands reported year-on-year sales declines, with DIOR experiencing a double-digit drop, while domestic brand MAOGEPING performed exceptionally well due to strong promotions [12]. Sports Brand Performance - In Q3 2025, NIKE and ADIDAS saw modest growth, while Li-Ning and Anta achieved double-digit growth, attributed to their participation in promotional activities during Golden Week [13]. Outdoor Brand Performance - Sales growth for outdoor brands was led by The North Face and Jack Wolfskin, both achieving double-digit growth, while other brands like Columbia saw mid-to-high single-digit growth [14].

Core Insights - The report from ICBC Asia Research analyzes the impact of the US "reciprocal tariff" policy on the economy, focusing on inflation, supply chains, economic data, and policy outlook, while outlining economic signals and future trends in the US economy [1][2] Inflation and Price Transmission - As of August, the PPI decreased to 2.6% year-on-year, while the CPI increased to 2.9%, indicating a clearer transmission of inflation effects from tariffs [2][12] - The core goods contributed a 0.4% increase to the CPI, with furniture and transportation products leading the price hikes [2][12] - The inflationary impact is expected to become more pronounced in the fourth quarter as inventory buffers are depleted and companies gradually pass on costs [2][12] Economic Data and Trends - Economic resilience was supported by non-residential investment and consumer behavior, with GDP growth exceeding 1.5% in Q1 and Q2 when excluding tariff disruptions [2][19] - However, there are increasing downward risks as tariff effects become evident, potentially leading to reduced production and consumption [2][19] Policy and Financial Market Outlook - The Federal Reserve is likely to implement interest rate cuts in September, facing challenges from economic downturns, high inflation, and policy pressures [2][6] - The US dollar index is expected to trend downward, while the yield curve for US Treasury bonds will exhibit a "bull steepening" characteristic due to conflicting economic signals [2][6] Supply Chain and Inventory Dynamics - Tariff expectations have heightened inventory motivations across supply chains, leading to a temporary "prosperity illusion" in supply-side data [6][19] - Increased imports and production of durable goods have somewhat mitigated the impact of tariffs on end prices, with durable goods shipments rising by 3.1% in the first seven months of 2025 compared to the same period in 2024 [2][33] Consumer Behavior and Confidence - Consumer confidence has declined, with rising concerns about price increases leading to preemptive stockpiling of goods [2][26] - Retail sales in categories such as motor vehicles and furniture have shown significant growth, reflecting consumer behavior in response to tariff expectations [2][27]

中新网杭州10月9日电(奚金燕)2025年国庆中秋假期，浙江市场绿色、智能、健康、文化消费成为新亮 点，消费热度居全国前列。据"浙江消费在线"监测，重点商圈客流量、销售额实现双增长。 "双节"期间，浙江开展数字消费季、餐饮进商圈活动，浙江各大商圈线下主题市集汇聚非遗手作、潮玩 文创、特色小吃，设置裸眼3D"时空穿越"、音乐盲盒等数实融合创新场景，为传统商圈注入新活力。 作为杭州首发经济热土，这个假期，拱墅区各大商场共推出80余场主题促销活动，涵盖市集、演艺、展 览、快闪等多种形式，有效激发消费活力。在武林商圈，武林广场以宋韵美学为基调，设置60余个特色 摊位，结合音乐喷泉、诗词互动与国风演出，日均吸引超3万市民游客参与。 浙江"双节"涌现多元消费生态 重点商圈实现双增长 大运河杭钢公园打造"赛博季"主题嘉年华吸引诸多游客。拱墅发布 供图 据观察，这个假期，新兴消费场景加速涌现。大运河杭钢公园打造"赛博季"主题嘉年华，融合工业遗存 与前沿科技，设置AI机器人互动乐园、低空飞行器展示、非遗打铁花表演及国潮朋克市集，通过月影 主题展、VR体验等多元项目，形成"工业+科技+潮流"的"钢铁硬核浪漫"独特体验，吸引了诸多 ...

Market Overview - The A-share market saw all three major indices rise collectively, with the Shanghai Composite Index breaking through 3900 points, reaching a new high since August 2015, closing at 3933.97 points, up 1.32% with a trading volume of 12168.89 billion yuan [1] - The Shenzhen Component Index closed at 13725.56 points, up 1.47%, with a trading volume of 14363.08 billion yuan [1] - The ChiNext Index closed at 3261.82 points, up 0.73%, with a trading volume of 6544.97 billion yuan [1] Sector Performance - The sectors that performed well included precious metals, minor metals, and industrial metals, which saw significant gains [1] - Conversely, sectors such as film and television, tourism and hotels, and kitchen and bathroom appliances experienced declines [1] Detailed Sector Rankings - The top-performing sectors included: - Real estate with an increase of 8.34%, total trading volume of 1149.96 million hands, and a total transaction amount of 242.01 billion yuan [2] - Small household appliances with a rise of 5.33%, total trading volume of 1637.13 million hands, and a total transaction amount of 525.13 billion yuan [2] - Industrial real estate with a gain of 5.04%, total trading volume of 6553.01 million hands, and a total transaction amount of 803.91 billion yuan [2] - The sectors that faced declines included: - Film and television with a decrease of 4.61%, total trading volume of 1269.10 million hands, and a total transaction amount of 114.56 billion yuan [2] - Tourism and hotels with a drop of 3.55%, total trading volume of 1009.38 million hands, and a total transaction amount of 86.12 billion yuan [2] - Kitchen and bathroom appliances with a decline of 1.36%, total trading volume of 66.70 million hands, and a total transaction amount of 9.83 billion yuan [2]

Core Insights - The combined 8-day holiday for National Day and Mid-Autumn Festival in 2025 saw over 1.6 million visitors in key consumption areas of Shaoguan, with total holiday spending expected to reach 1.15 billion yuan [1][2] - The Shaoguan Municipal Bureau of Commerce implemented multiple measures to stimulate domestic demand, resulting in a significant boost in retail, dining, automotive, and home appliance sectors [1][2] Group 1: Consumption Initiatives - The "Enjoy Services, Gather Shaoguan" autumn service consumption season was launched to activate consumer spending, featuring cross-industry collaborations and promotional activities [2] - A special "Gather Delicious Food" coupon campaign was introduced, allowing consumers to easily claim discounts through designated online platforms, enhancing the integration of shopping and dining [2] - Over 70 promotional events were organized across various sectors, utilizing strategies like discounts and group purchases to effectively reach different consumer demographics [2] Group 2: Consumer Behavior Trends - Dining emerged as a key focus during the holidays, with a reported over 10% year-on-year increase in consumption at dining establishments within major complexes [8] - The automotive sector experienced a surge, with daily visitor numbers to 4S stores more than doubling compared to regular days, and sales orders increasing by approximately 5% [8] - Major appliance retailers also ramped up promotions, leading to a significant uptick in sales for popular categories like refrigerators and televisions [8] Group 3: Safety and Supply Assurance - The Bureau ensured a stable consumption environment by enhancing supply channels and coordinating with major supermarkets to meet holiday demand, resulting in sales increases of over 38% for certain retailers [9] - Safety inspections were conducted in commercial complexes and dining venues to address potential hazards, ensuring a secure shopping experience for consumers [9]