以下文章来源于表外表里 ，作者洞见数据研究院 表外表里 . 洞见数据研究院 遍地是黄金？ 作者 | 严贝贝 陈梓洁 编辑 | 曹宾玲 来源 | 表外表里 (ID: excel-ers) 半年外派生活结束，大海拿着到手的20万补贴，告别坐落在安第斯山脉上的小国。 候机之际，一阵熟悉的南方口音传入他的耳朵，是两位正在打电话的同胞，对着电话输 出"马上到" "见客户"等字眼，一路风尘仆仆往出口走去。 大海早已数不清，这是自己在当地偶遇的第几批淘金客， 曾经魔幻又孤独的拉美，如今 成了世界的焦点 。 在巴西三线城市长大的翰宇，帮家里开了一个咖啡店，每月净利润过万，但比起月入5万 的外派销售、开中超年入3 00万的同龄人，还没够到及格线。 多年来，他亲眼目睹了日本汽车、三星手机风靡大街小巷，i n s、Fa c e book入侵本地人 生活，又见证了Temu取代亚马逊成为新星，快手日活赶超推特，Ti kTo k s h o p、美团登 陆巴西…… 无数跨国巨头、创业者，涌入这片有着6.7亿人口的大陆，对比竞争白热化的东南亚、中 东，这里有太多空白的领域，可以撑起最后一个"黄金海岸"的想象力。 尤其随着"两洋铁路"项目重 ...

证券研究报告·行业跟踪周报·商贸零售 商贸零售行业跟踪周报 5 月我国非美出口展现韧性，重视非美出口 枢纽小商品城的战略地位 增持（维持） [Table_Tag] [周观点（注：文中"本周"指的 Table_Summary] 6 月 9 日至 6 月 15 日） 2025 年 06 月 16 日 证券分析师 吴劲草 证券分析师 阳靖 执业证书：S0600523020005 yangjing@dwzq.com.cn 证券分析师 郗越 执业证书：S0600524080008 xiy@dwzq.com.cn 执业证书：S0600520090006 wujc@dwzq.com.cn 证券分析师 石旖瑄 执业证书：S0600522040001 shiyx@dwzq.com.cn 证券分析师 张家璇 执业证书：S0600520120002 zhangjx@dwzq.com.cn 研究助理 王琳婧 执业证书：S0600123070017 wanglj@dwzq.com.cn 行业走势 -11% -4% 3% 10% 17% 24% 31% 38% 45% 52% 6/17/2024 10/15/2024 2/12/2025 ...

Core Insights - The opening of the first Yonghui Supermarket in Dengfeng, which is also the 10th store to undergo transformation under the "Pang Donglai" model, marks a significant step in the upgrade of offline retail as the "6.18" online shopping festival ignites consumer enthusiasm [1][2] Group 1: Store Transformation - The store underwent a 39-day deep renovation, closing on May 10 and reopening on June 18, focusing on optimizing product structure, enhancing shopping environment, improving service details, and deepening employee care [1] - The store's layout was redesigned to eliminate forced traffic flow, significantly widening aisles and standardizing the height of central shelves to 1.6 meters, creating a more open shopping space [1] - The checkout area was expanded to improve transaction efficiency, and dedicated sections for "Pang Donglai" and Yonghui's private label products were established, enhancing the immersive shopping experience [1] Group 2: Product and Pricing Strategy - The product structure of the store now aligns with 80% of the "Pang Donglai" model, with 12,257 original SKUs reduced by 7,584, and 6,276 new products added, resulting in a new product ratio exceeding 57.4% [1] - Imported products account for 15% of the offerings, while the proportion of fresh food items, including baked goods and cooked food, increased from 5% to 20% [1] - The store adopted a direct procurement model to shorten the supply chain and ensure reasonable pricing based on costs [1] Group 3: Quality Control and Customer Service - The store implemented a full-chain quality control management system, ensuring product safety and freshness, particularly for perishable items [2] - Customer service enhancements include a rest area, free tea, handwashing stations, and over 20 thoughtful facilities, along with services like live fish oxygenation and fresh meat processing [2] Group 4: Employee Welfare and Training - Employee average salary increased from 3,000 yuan to 5,000 yuan, with daily working hours strictly controlled at 8 hours, and benefits such as 10 days of paid annual leave after one year of service [2] - Employees received practical training at existing "Pang Donglai" or Yonghui transformed stores, enhancing their professional skills through a structured training system [2] Group 5: Expansion Plans - Since the announcement of the nationwide store transformation strategy in May 2024, Yonghui Supermarket has completed one year of "Pang Donglai" style quality upgrades, with the number of transformed stores reaching 105 after the opening of the Dengfeng store [2] - The company aims to exceed 150 transformed stores by the end of July and plans to complete the transformation of 300 stores by the Lunar New Year in 2026 [2]

您好，我是开超市的，最近有企业向我们购买了超市购物预付卡用于职工福利，我可以就这笔预付卡的收入开具增值 税专用发票吗？ 您好，根据《国家税务总局关于营改增试点若干征管问题的公告》（国家税务总局公告2016年第53号）规定，单用 途商业预付卡（以下简称"单用途卡"）业务按照以下规定执行：（一）单用途卡发卡企业或者售卡企业（以下统 称"售卡方"）销售单用途卡，或者接受单用途卡持卡人充值取得的预收资金，不缴纳增值税。售卡方可按照有关规 定，向购卡人、充值人开具增值税普通发票，不得开具增值税专用发票。同时，持卡人使用单用途卡购买货物或服务 时，货物或者服务的销售方应按照现行规定缴纳增值税，且不得向持卡人开具增值税发票。 欢迎扫描下方二维码关注： ▲戳蓝色字关注蓝色柳林财税室 您好！这里是宁波12366纳税缴费服务热线，请问有什么可以帮您？ 温馨提醒：蓝色柳林财税室为非官方平台，是由编者以学习笔记形式建立的平台，所有笔记写作记录的文章及转发的法律法规仅供读者学习 参考之用，并非实际办税费的标准，欢迎交流学习，共同分享学习经验成果。文章版权归原作者所有，如有不妥，请联系删除。 ▼ 点击下方名片关注蓝色柳林财税室 ▼ 来源 ...

Group 1 - Wuhan has been awarded the title of "Model City for Good Consumption" by the Central Radio and Television Station [1] - JD MALL has opened a new store in Wuhan, making it the city with the most JD MALL locations, with plans for another store in Hanyang by the end of the year [1] - Wuhan has been selected as one of the first batch of national retail innovation pilot cities, highlighting its potential for retail development [2][3] Group 2 - The city's strong commercial foundation and rising consumer spending are key factors for its selection as a pilot city [4] - Wuhan's retail sales are projected to grow by 5.3% in 2024, leading among sub-provincial cities, with a 7.3% increase in the first quarter of this year [5] - The city is actively exploring innovative retail models, aiming to create a diverse and trendy shopping experience [5] Group 3 - Recent events like the "HOCH Hamburger Festival" generated over 17.4 million yuan in revenue, showcasing the vibrant consumer experience in Wuhan [6] - The Hong Kong Disneyland 20th Anniversary exhibition has attracted visitors of all ages to Wuhan, indicating a growing interest in cultural and entertainment events [7] - Areas like Tianhua Lin are becoming popular among young people for experiencing traditional culture and purchasing unique creative products [8] Group 4 - The demand for high-quality and cost-effective consumption is rapidly increasing, as evidenced by the opening of new Sam's Club locations in Wuhan [11] - Major retail players are focusing on enhancing product and service quality, aligning with the goals of the retail innovation initiative [11] - The "Retail Innovation and Improvement Project Implementation Plan" emphasizes optimizing quality supply and prioritizing consumer-centric approaches [11]

相比之下，永辉超市处境艰难。2024 年营业收入 675.74 亿元，同比减少 14.07%，归属上市公司股东净利润 -14.65 亿元，已连续四年亏损。为脱困，永辉大规模关店，2025 年第一季度门店净减少 273 家；同时进行 "胖东 来式" 改造，已完成 47 家门店调整。管理层计划 2025 年年中完成 100 家门店调改，年底达 200 家，但转型前景 仍面临巨大考验 。 超市三巨头差距断崖：胖东来利润8亿，沃尔玛1千亿，永辉让人意外 I ( u L C L U B . e @ g 0 E 3 ap elle P . op ap e a 在竞争激烈的零售市场，超市行业格局正发生巨变。2024 年财报显示，沃尔玛、胖东来、永辉超市三家巨头间差 距明显。 胖东来在河南许昌、新乡等地颇具传奇色彩。2024 年销售额 169.64 亿元，同比增长 58.54%，但利润的 95% 都给 了员工。这里员工工资高，吸引不少研究生入职。2025 年第一季度销售额突破 62 亿元，全年有望达 200 亿元。 它坚持全球直采，选品严格，以 "少而精" 对抗同质化竞争，还主动帮扶同行，输出 "商业向善" 价值观。 沃尔玛 ...

永辉超市将品质管控贯穿于全链路之中，严格执行商品准入标准，通过产地-物流-门店全链路品控管 理，多环节把关商品品质。针对生鲜等部分品类坚决落实日清制度，确保商品安全新鲜度。 本报讯 （记者肖艳青）记者从永辉超市股份有限公司（以下简称"永辉超市"）获悉，6月18日，河南登 封首个胖东来帮扶调改店——永辉超市中天广场店将恢复营业。作为河南第10家胖东来帮扶调改店，该 店历经39天深度革新，立志成为登封市民与游客心中"最幸福的品质零售地标"。 据悉，永辉超市登封中天广场店于5月10日正式闭店调改，围绕商品结构优化、购物环境提升、服务细 节完善以及员工关怀深化这四大维度，坚定学习胖东来模式走品质零售路线，致力于在登封打造品质零 售"高峰"。 登封中天广场店在商品结构上达到胖东来商品结构的80%，店内原有的12257支商品，下架7584个单 品；新增商品6276支，新增商品比例超过57.4%；进口商品占比达15%，烘焙、熟食等鲜食比例从原先 的5%增至20%。与此同时，门店还同步优化价格策略，通过直采直营模式来缩短供应链，基于成本进 行合理定价，让商品定价回归价值本身，切实保证商品价格的合理性。 自2024年5月永辉超 ...

以下文章来源于品牌观察官 ，作者曾有为 品牌观察官 . 中国品牌营销第一自媒体！全国领先品牌营销媒体成员，广告、公关、营销人的首席品牌读本，聚焦最 新最热最鲜活的品牌案例、营销方法、商业策略，一起创造消费者至爱品牌！每天提供最热品牌营销资 讯与经典案例！ 作者 | 曾有为 来源 | 品牌观察官 导语： 放弃对标山姆的盒马，总算是好起来了。 盒马X会员店，岌岌可危。 继5月份位于北京大兴的盒马X会员门店或将关闭之后， 刚踏入6月，又有两家盒马X会员店 要关闭了。 关闭的店是盒马X会员店上海七宝店，以及 北京世界之花店 。 曾经喊着要 "3年开100家" 的盒马X会员店，至此， 其在全国范围内只剩下最后三家店了 ，分别是上海森兰商都店、南京燕子矶店、苏州环球港店。 早在2月，盒马就宣布关掉上海的3家会员店，当时还引起了不小的轰动。 纵观今年内盒马这番频繁的闭店动作，想必剩下的这三家会员店的命运也是"殊途同归"了。 这也意味着，盒马在会员店业态的探索以失败告终，或许可以说， 盒马正式放弃中产幻 想，不再与山姆争中产了。 而对于曾经办过盒 马X会员的人来说，要是半年没逛过盒马，估计都会分不清盒马NB、盒 马奥莱、盒马 ...

行 业 研 究 / 行 业 点 评 证 券 相关研究 《内需崛起，挖掘新消费的情绪曲线—— 2025 夏季电商零售投资策略》 2025/06/10 《4 月社零同比+5.1%，政策支持下内需 展现强韧性——4 月社会零售品消费数据 点评》 2025/05/19 行 业 及 产 业 商贸零售 2025 年 06 月 15 日 年中大促临近尾声，多地国补转向 证券分析师 赵令伊 A0230518100003 zhaoly2@swsresearch.com 联系人 李秀琳 (8621)23297818× lixl2@swsresearch.com 本期投资提示： 请务必仔细阅读正文之后的各项信息披露与声明 本研究报告仅通过邮件提供给 中庚基金 使用。1 研 究 | 2.本周休闲服务行业行情回顾 6 | | | --- | --- | | 2.1 本周市场行情回顾 | 6 | | 2.2 本周个股行情一览 | 7 | | 3.公司公告更新 9 | | | 3.1 | 商贸零售 9 | | 3.2 | 社会服务 9 | | 4.行业大事回顾 9 | | | 4.1 | 商贸零售行业 9 | | 4.2 | 社会服务行业 ...

Group 1: Pop Mart's Expansion - Pop Mart's independent jewelry brand popop opened its first global store in Shanghai, featuring popular IP jewelry priced between 319-2699 yuan [1] - The brand aims to capture a share of the global $50 billion fashion jewelry market, leveraging its existing 70-75% female user base and IP brand strength [1] - Pop Mart's market capitalization reached over 360 billion HKD as of June 13, with a target of achieving 20 billion yuan in total revenue by 2025, including 10 billion yuan from overseas markets [1] Group 2: Inditex's Underperformance - Inditex reported Q1 2025 revenue of 8.27 billion euros, below analyst expectations of 8.36 billion euros, with a net income increase of only 0.8% to 1.3 billion euros [2] - Summer sales growth has slowed, with a 6% increase from May 1 to June 9, compared to a 12% increase in the same period last year [2] - Inditex operates 5,562 stores globally and focuses on unique fashion propositions, customer experience, sustainability, and talent development [2] Group 3: H&M's Sales Decline - H&M experienced a sales increase of only 1% in March, down from 4% in the same month last year, with a 2% revenue growth from December 2024 to February 2025, below analyst expectations [3] Group 4: Yonghui Supermarket's Model Adjustment - Yonghui Supermarket completed the adjustment of the "Fat Donglai" model in 100 stores, focusing on upgrading "people, goods, and space" [4] - The company aims to enhance employee skills, transition from "cost performance" to "quality-price ratio," and upgrade retail spaces to quality life centers [4] Group 5: L'Oréal's Acquisition of Medik8 - L'Oréal announced the acquisition of a majority stake in UK skincare brand Medik8, pending regulatory approval, to strengthen its luxury product portfolio [5][6] - Medik8 is known for its effective skincare products and has established a strong brand image in clinical and scientific skincare [6] Group 6: Starbucks' Stake Sale Consideration - Starbucks is considering selling a portion of its Chinese business to attract external investors and restore growth in the region [7] - The CEO noted significant interest from potential investors, with plans to increase store numbers from 8,000 to 20,000 [7] Group 7: New Product Launches - "Let Tea" and JD.com launched a new product, "Orange C Oolong Tea," featuring a no-sugar formula with added vitamin C [8] - Lululemon introduced the second season of its SLNSH designer collaboration series, focusing on breathable and functional materials for summer [9] - Nongfu Spring launched a carbonated tea drink called "Ice Tea," emphasizing natural ingredients and health trends [10] Group 8: Dr. Martens' Revenue Decline - Dr. Martens reported a 10% decline in net revenue to 790 million pounds for FY2025, with net profit dropping significantly to 4.5 million pounds [14] - Direct sales revenue fell by 4.2%, while wholesale revenue decreased by 19.5%, with EMEA and Americas regions seeing declines of 11% and 11.4%, respectively [14] Group 9: Other Company Developments - Salia plans to establish its China headquarters in Guangdong to accelerate its business expansion [15] - Baifei Dairy's IPO application has been accepted, marking the first food consumption project in the Shanghai Stock Exchange for 2024 [16] - Fat Donglai estimates a net profit of 1.5 billion yuan for 2025, with an average monthly income of 9,000 yuan for employees [17] - Haidilao has introduced a self-service lunch priced at 22 yuan in some locations, reflecting a strategy to find new growth points [18] - Nissin Foods is shifting sales focus to inland markets in China, particularly in industrial towns [19] - General Mills is reportedly considering selling its Haagen-Dazs stores in China for several hundred million dollars [20] - Starbucks China announced a price reduction of 5 yuan on various iced and tea drinks to compete in the growing non-coffee market [21]