Core Insights - The report highlights that AI empowerment, scenario integration, and technological innovation are the core forces driving industry transformation, reshaping the commercial payment ecosystem with six major trends [1] Group 1: AI-Enabled Commerce - AI shopping agents are emerging as a new growth point, with 87% of businesses aware of them, particularly in retail (25% familiarity). These agents can reduce e-commerce cart abandonment rates by 66%, potentially generating an additional $240 billion in global e-commerce revenue [2] - Concerns regarding security fraud, dispute resolution, and algorithmic bias persist, with 42% of businesses expressing worries, and only 11% of consumers currently allowing AI agents to complete payments [2] Group 2: POS Revolution - Mobile POS and cloud systems are becoming mainstream, with 85% of mid-sized U.S. retailers relying on mobile POS solutions. Modern POS systems integrate real-time data analytics (57% prioritize this), inventory management, and CRM functionalities [3] - Biometric technologies are widely adopted, enhancing efficiency and security, with some restaurants achieving the capability to serve 40 cars in 15 minutes through voice ordering. However, system integration remains a significant pain point, with 32% of businesses citing it [3] Group 3: Embedded Finance - The embedded finance market is projected to reach $92 billion in 2024 and $228 billion by 2028, with "buy now, pay later" (BNPL) being a core application. 51% of retail businesses report revenue increases of over 25% from BNPL [4] - 71% of businesses express interest in integrating AI for real-time credit assessment and fraud detection, with significant regional differences in adoption rates [4] Group 4: Instant Payments - 31% of businesses have adopted instant payments, surpassing embedded finance (10%) and self-service technologies (5%). Key use cases include consumer refunds (72%) and gig worker payments (63% in Asia-Pacific) [5] - The rapid development of global real-time payment systems like FedNow (U.S.), UPI (India), and PIX (Brazil) is noted, although cross-border payments face limitations due to SWIFT processes [5] Group 5: Rise of Stablecoins - Stablecoins are gaining attention for their low volatility and cost advantages, with 72% acceptance among North American businesses. Large enterprises prefer them for cross-border payments and currency hedging [6] - Regulatory challenges and transparency issues hinder adoption, with stablecoins currently accounting for less than 1% of global transfer volumes [6] Group 6: Self-Service Payments - Self-service payment scenarios are expanding, with 83% of businesses planning to increase automation in the next two years. Technologies like smart kiosks and unmanned checkouts are enhancing transaction efficiency, leading to a 20% increase in order amounts at McDonald's [7] - Adoption rates vary significantly by region, with Asia-Pacific (100%) and Europe (94%) leading, while North America (79%) and Latin America (38%) lag behind [7] Conclusion - The commercial payment industry in 2026 is characterized by "technology-driven, scenario integration, and security-first" features. Businesses need to focus on technology integration and compliance management, aligning with core trends like AI agents and embedded finance to achieve efficiency and experience optimization [7]

Core Viewpoint - The consumption industry needs to focus on the medium- and long-term goals outlined in the "14th Five-Year Plan," with short-term attention on specific policies related to consumption expected to be implemented by 2026 [1] Group 1: Consumption Trends - Global consumption recovery is slow, with high tariffs pushing up prices and high interest rates suppressing credit demand, leading to weak consumer confidence in Europe and the U.S. [2] - The central economic work conference emphasized the importance of domestic demand and the construction of a strong domestic market, implementing actions to boost consumption and plans to increase income for urban and rural residents [2] - The report is more optimistic about the improvement of service consumption compared to goods consumption, highlighting recent policies aimed at enhancing service consumption [2] Group 2: Domestic Demand and Retail Performance - In November, the retail sales growth rate was 1.3% year-on-year, with a month-on-month decline of 1.6 percentage points, marking a continuous decrease since May [3] - The decline in retail sales for household appliances and audio-visual equipment was significant, with year-on-year drops of 14.6% and 19.4% in October and November, respectively [3] - Retail sales in the furniture category showed mixed results, with a year-on-year increase of 9.6% in October but a decline of 3.8% in November [3] Group 3: Category-Specific Insights - Jewelry retail sales saw substantial growth of 37.6% and 8.5% in October and November, influenced by new tax policies on gold jewelry [4] - The clothing and textile categories experienced stable growth, with year-on-year increases of 6.3% and 3.5% in October and November, respectively [4] - The restaurant sector's retail sales grew by 3.8% and 3.2% year-on-year in October and November, indicating stability despite slow growth [4] Group 4: Global Consumer Sentiment - Consumer confidence in Europe and the U.S. remains weak, with the U.S. consumer confidence index at 53.3, close to historical lows [5] - Retail performance in the U.S. was lackluster, with a year-on-year increase of 3.9% in adjusted retail sales for September, showing a decline from August [5] - Online sales during the holiday shopping period showed modest growth, with a year-on-year increase of 7.7%, indicating a competitive environment for promotions [5]

黄小燕指出，举办此次活动既是贯彻落实党中央、国务院促进服务消费高质量发展战略部署的重要举措，也是落实省委、省政府提振消费工作要求的具体 行动。活动集聚餐饮、家政、文旅、体育等贴近群众生活、需求潜力大、带动作用强的7个行业、140余家企业，必将充分释放服务消费活力，有力展现了 政企握指成拳、同向发力的共赢局面。希望广大企业进一步创新服务模式，增加服务供给，共同做大做强全省服务消费市场。 陈水连表示，作为本次活动承办地，九江将进一步强化服务保障，优化消费环境，扎实推进消费"三新"试点城市建设，加强新业态、新模式、新场景培育 管理，释放新型消费带动效应，打造更多休闲、时尚、滨水、健康、夜间等显示度高、辐射力强的新消费场景，让消费更便捷、更舒心，持续推动商、 旅、文、体、健深度融合，努力将九江建设成为更具吸引力的区域消费中心城市。 12月16日上午，江西省"美好生活焕新季"服务消费促进活动在信华浪井广场拉开序幕，副省长夏文勇出席启动仪式并宣布活动启动，市委书记刘文华、省 政府副秘书长熊科平、省文旅厅副厅长韩之宇、省卫健委副主任孙常翔、省体育局副局长张祖平、市委秘书长匡建军等出席活动，省商务厅副厅长黄小 燕、副市长陈水 ...

近日，有多名网友在社交平台分享在美国好莱坞看到了"雪王"，有网友分享其在洛杉矶蜜雪冰城门店购买打卡的体验。 据网友们在社交平台分享的信息，该门店位于洛杉矶好莱坞星光大道，在中国剧院对面，地处繁华地段。 智通财经就此致电蜜雪冰城，相关工作人员表示，美国门店的"相关业务正在稳步推进"。 图片来自网友发布的蜜雪冰城洛杉矶店打卡视频截图 另据极目新闻，12月15日起，"雪王"人偶在南加州大学等地免费发放数百杯饮品，吸引留学生及华人打卡，消费者反映口味与国内相近。 网友拍摄的蜜雪冰城洛杉矶店 网友们晒出的订单显示，美国版蜜雪冰城的外观与国内基本一致，都是透明塑料瓶身，红色主题封口，字体则换成了英文"MIXUE"。 此外，多名当地网友在外卖平台搜索发现，已有线上预售。 智通财经搜索饭团外卖APP发现，位于洛杉矶名为"蜜雪冰城(Hollywood)"的商家开启独家预售，已上架2款预售套餐。这两款套餐定价均为3.99美元（约合 人民币28元），含两杯饮品及冰淇淋，支持微信、支付宝支付，新用户最低仅需1.17美元（约8.2元人民币）。其中，饮品包括芋圆葡萄、椰果奶茶、草莓果 茶，预售套餐每人限购一份，目前一个套餐销量已破百单。 ...

天眼查App显示，近日，扬州市广陵区茗名茗茶饮店（个体工商户）成立，法定代表人为张超，注册资 本5万人民币，经营范围为许可项目：餐饮服务；食品销售（依法须经批准的项目，经相关部门批准后 方可开展经营活动，具体经营项目以审批结果为准）一般项目：外卖递送服务；日用百货销售；文具用 品零售；日用品销售；箱包销售；玩具销售；礼品花卉销售；玩具、动漫及游艺用品销售；工艺美术品 及收藏品零售（象牙及其制品除外）；办公用品销售；茶具销售；服装服饰零售；鞋帽零售；纸制品销 售；厨具卫具及日用杂品零售；宠物食品及用品零售；农副产品销售；互联网销售（除销售需要许可的 商品）（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Group 1 - The company Yixing Taiyizhen Tea Beverage Service Co., Ltd. has been established with a registered capital of 200,000 RMB [1] - The legal representative of the company is Xing Bo [1] - The business scope includes catering services, food sales, and various retail activities such as daily necessities and non-medical masks [1] Group 2 - The company is authorized to conduct food internet sales, specifically for pre-packaged food [1] - The company’s operations are subject to approval from relevant authorities for certain projects [1] - The company also engages in the sale of arts and crafts, as well as gift items, excluding ivory and its products [1]

Core Insights - The "Guangde Three-Piece Set," consisting of hot pot, milk tea, and peach crisp, has gained significant popularity, attracting a large number of tourists to Guangde City, with online views exceeding 5 billion and 4.17 million visitors recorded [1][2][3] Group 1: Location and Tourism Strategy - Guangde's geographical advantage as the only county-level city in Anhui bordering Jiangsu and Zhejiang enhances its appeal, making it a convenient destination for tourists from the Yangtze River Delta [2] - The city has effectively tapped into consumer trends such as "reverse tourism" and "small-town exploration," positioning itself as a "back garden of urban circles" [2][3] Group 2: Economic Impact and Growth - The local food scene has seen a dramatic increase in business, with daily customer numbers at hot pot restaurants rising to over 30,000, and daily sales at milk tea shops surpassing 8,000 cups [4][5] - The tourism boom has positively impacted related industries, with local farmers supplying fresh ingredients, thus creating a beneficial cycle for both tourism and local income [5] Group 3: Visitor Experience and Engagement - Guangde has implemented a "Stay Visitor Project" to enhance the tourist experience, including free hand-drawn maps and a dedicated bus service connecting major attractions [6][7] - The city has prioritized customer service, with initiatives such as free parking for visitors and a commitment from local businesses to ensure fresh ingredients, contributing to a welcoming atmosphere [7] Group 4: Future Development Plans - Guangde aims to deepen the cultural significance of the "Three-Piece Set" and develop unique food offerings, while also planning to create curated travel itineraries that integrate local cuisine with natural and cultural attractions [8]

Group 1 - Tencent has appointed Yao Shunyu as the Chief AI Scientist, leading the AI Infra and large language model teams [3][4] - Xiaomi's new model MiMo-V2-Flash was officially launched and open-sourced by Luo Fuli, showcasing its capabilities in the global open-source model rankings [18] - The average annual temperature in the Arctic has reached the highest level since 1900, indicating significant climate change [7] Group 2 - The "baby funds" have seen a decline in yield, with 102 funds dropping below 1% annualized yield, while Tianhong's Yu'ebao remains above 1% [2] - The price of cherries is expected to drop further, with some selling for less than 20 yuan per pound [9] - Apple is in talks with Indian chip manufacturers to expand its operations to include the assembly and packaging of iPhone components in India [8]

Core Viewpoint - The service industry is showing signs of stabilization and bottoming out after experiencing price pressure and same-store sales decline in 2024, with expectations for recovery in 2026, particularly in sub-sectors like hotels and duty-free [2][17]. Group 1: Industry Trends - The service consumption ratio is increasing, supported by improved infrastructure for chain operations, leading to the emergence of more quality brands [4][21]. - The government has introduced multiple policies to promote service consumption, indicating a potential for stronger recovery in domestic demand [18][20]. - The hotel sector is expected to see a rebalancing of supply and demand in 2026, with RevPAR stabilizing due to a low base and slowing supply growth [4][31]. Group 2: Sub-sector Analysis - **Hotels**: The hotel industry faced pressure from weak business travel demand and continued supply expansion, but RevPAR showed signs of recovery in October 2025, driven by ADR increases [26][33]. - **Duty-Free**: Duty-free sales are stabilizing, with a focus on the potential of new policies to boost sales from departing travelers and local residents [45][49]. - **Dining**: The dining sector is experiencing a controlled competitive environment, with affordable brands performing relatively well amidst a recovering landscape [36][44]. Group 3: Investment Opportunities - Companies that can effectively meet consumer demands for value and emotional satisfaction, possess strong operational capabilities, and capture sustainable growth drivers are likely to succeed [4][29]. - The focus on high-quality brands and those with strong internal capabilities is expected to yield better performance in the coming years [4][21]. Group 4: Market Performance - In 2025, companies like Gu Ming and Mi Xue have shown significant stock performance, indicating a trend where companies with strong growth potential outperform their peers [7][12]. - The overall market for the service sector is expected to see a gradual recovery, with structural opportunities emerging in the hotel and duty-free segments [6][31].

Core Viewpoint - The Shanghai Municipal Commission of Commerce has released the "Action Plan for Promoting Intelligent Layout in the Catering Industry (2026-2028)", aiming to drive the transformation of the catering industry towards industrialization, standardization, branding, internationalization, and greening through artificial intelligence technology [1] Group 1: Intelligent Transformation - Intelligent technology can enhance operational efficiency and service quality in catering enterprises by optimizing processes and precise management, leading to cost reduction and efficiency improvement [1] - The "Smart Canteen" initiative in Shanghai allows citizens to place orders through an online reservation system, enabling AI to achieve precise meal preparation, reducing food waste, and continuously improving dining efficiency [1] - Real-time monitoring of sales and inventory through a digital platform allows enterprises to quickly respond to market changes, while AI-assisted dish development combines traditional cooking techniques with data analysis [1] Group 2: Green Transformation - The green transformation of the catering industry relies on technological support, with intelligent solutions being an effective path to achieve low-carbon, resource-saving, and environmentally friendly goals [2] - The action plan includes measures such as embedding intelligent prompt systems to guide reasonable consumption and promoting smart waste classification and kitchen waste resource processing systems [2] - Smart supply chain systems optimize logistics paths and cold chain traceability to reduce energy consumption, while blockchain technology enhances food traceability transparency, promoting sustainable procurement [2] Group 3: Internationalization - The internationalization of catering brands is supported by intelligent technology, with AI providing insights into consumer trends and regional taste preferences, allowing enterprises to accurately target customer groups and optimize product structures [2] - Intelligent systems provide technical support for brands to expand overseas, enabling them to maintain confidence in exploring new international markets while securing their domestic market [2] Group 4: Systematic Planning - The experience in Shanghai indicates that the intelligent transformation of the catering industry requires systematic planning and multiple measures [3] - Cities need to establish a policy guidance system that incorporates catering intelligence into urban digital economy development plans, using effective incentives to lower transformation costs for enterprises [3] - Differentiated promotion paths should be created, combining targeted strategies for different catering formats, and encouraging collaboration between technology and catering enterprises to foster innovation [3]