■ 本报记者 邵志媛 政策与市场双重驱动 全年将延续稳健增长 从实物消费的城乡覆盖到服务消费的热度攀升，线上消费亮眼表现的背后，是市场韧性与政策支持的双 重驱动。 线上消费作为扩内需、促消费的重要引擎，正以强劲增长态势为经济高质量发展注入澎湃动能。国家统 计局发布的数据显示，1—11月份，实物商品网上零售额同比增长5.7％，增速快于社会消费品零售总额 1.7个百分点，占社会消费零售总额的比重达到25.9％。数字消费、绿色消费、健康消费日益成为消费新 热点，对消费的引领和支撑作用日益显现。 不久前召开的中央经济工作会议提出，深入实施提振消费专项行动，制定实施城乡居民增收计划。扩大 优质商品和服务供给。受访专家分析，进入年末消费旺季，线下商家加速备货、线上平台发力促销，双 重动力将推动网上零售额持续增长，预计全年延续稳健态势。后续还需通过优化消费环境、细化服务标 准以提升体验，同时创新消费场景、结合新业态拓展空间，并加大消费补贴、优化金融支持政策降低门 槛，让消费者敢消费、愿消费，买得放心。 鲜货跨省达 服务随时享 山西太原市民杨女士近日拆开了一个从青海远道而来的包裹，里面是女儿特意通过电商平台订购的草原 新鲜羊 ...

'It's been an expensive year': Meituan counts cost of China's delivery wars 来自 阿里巴巴 和 京东 在快速增长的 即时零售 市场的竞争，已对这家总部位于北京的集团 造成冲击。 美团急于投入资金发放汉堡和甜饮的优惠券，以捍卫其市场主导地位 © FT montage/Bloomberg/Getty Images 在美团北京总部，管理人员每周都会开会进行一项至关重要的工作：估算竞争对手在电子商务配 送补贴上会损失多少资金，以及他们必须采取多么积极的应对措施。 今年，京东和阿里巴巴等科技巨头在中国快速增长的即时零售市场展开了激烈的竞争，导致美团 为了捍卫其市场主导地位，不得不紧急投入资金发放汉堡和 甜饮 的优惠券。 高盛 分析师估计，美团今年每笔即时配送订单平均亏损约 1 元人民币，这将导致其第三季度亏 损 160 亿元人民币，这是自 2018 年上市以来最大的亏损。 一位高管表示："今年成本很高。"据几位知情人士透露，美团内部，国内市场的冲击引发了高层 领导和投资者之间的争论，他们质疑公司是否还能继续为海外扩张提供资金。 阿里巴巴的复兴改 ...

Group 1 - The report by Analysys focuses on the innovations in business models, market performance, and consumer trends for the 2025 "Double 11" shopping festival, highlighting the new characteristics driven by instant integration and AI empowerment, showcasing the dual-driven consumption vitality from policies and the market [1] - The deep iteration of promotional models is characterized by "integration of distance and proximity" and AI empowerment as core engines, with instant consumption scenarios fully integrated into promotions, allowing online e-commerce and local stores to connect data and operational links [1] - AI has evolved from a tool to a core driving force, assisting businesses in product selection, intelligent pricing, and advertising optimization, while enhancing consumer shopping experiences through natural language search and personalized recommendations [1] Group 2 - The promotional cycle and strategies are continuously optimized, with most platforms starting promotions early and extending the average duration, leading to a 10.0% year-on-year increase in overall transaction volume across major platforms [2] - The performance of different categories shows significant differentiation, with beauty products seeing a 11.9% increase in transaction volume, apparel benefiting from seasonal demand with a growth rate of 12.5%, and home appliances maintaining a 10.5% increase due to renovation needs and government subsidies [2] - The demand for maternal and infant products has slowed due to a decrease in newborn numbers, with an overall transaction volume growth of 4.2%, indicating a shift in decision-making power towards males in this category [2] Group 3 - Policy and market confidence are resonating, with central government initiatives and local measures stimulating domestic demand, leading to a steady increase in consumer confidence and a rise in the contribution of consumption to GDP [3] - The potential for service consumption is highlighted, with significant year-on-year increases in daily active users for brands in dining, travel bookings, transportation, and ticketing apps [3] - Future competition in promotions will shift from traffic acquisition to deepening user value, focusing on core user retention and activation, while instant scenario integration and AI technology will continue to drive the upgrade of the promotional ecosystem [3]

Core Insights - The report indicates a shift in the employment perspective of the youth from seeking "long-term stable positions" to accepting "flexible and diverse employment" [1] - Xianyu has emerged as a significant platform for new professions and an important arena for youth employment and entrepreneurship [1] Employment Trends - In the past year, 19.62 million sellers published skill services on Xianyu, with 41% being post-2000s generation and 33% from the post-90s and post-95s generations combined [1] - High-educated, non-student youth are the active group in side jobs, with an average annual income of 4,317 yuan for active side job workers [1] - Over 41% of side job workers reported that their side job income constitutes more than 30% of their monthly income [2] - Nearly 30% of workers spend 30 hours per week on the platform, akin to part-time or secondary jobs [1][2] - Almost 80% of workers plan to develop their side jobs into freelance or entrepreneurial projects [1] New Professional Directions - There is a notable trend towards three new professional directions on the Xianyu platform: personal growth, emotional companionship, and skill monetization, with each category's order volume growing over 100% year-on-year [1] - Personal growth orders saw a year-on-year increase of 158.01%, with side jobs like exam guidance and cloud supervision gaining popularity [2] - Emotional companionship orders grew by 107.41%, leading to the emergence of roles such as emotional healing therapists and MBTI analysts [2] Recommendations for Educational Institutions - The report suggests that universities should encourage the recognition of verified side job hours as innovation practice or professional internship credits [2] - It recommends the development of short training courses and applying for vocational skill enhancement funding to reduce learning costs for youth [2] - For mature and significantly demanded new professions, there is a suggestion to apply for inclusion in the National Occupational Classification Directory [2] - Local governments are encouraged to incorporate online side job entrepreneurship into youth entrepreneurship support projects, exploring the integration of online incubation with offline implementation [2]

还有不到一周的时间，2025年就要结束了，今年你们最印象深刻的事情是什么？对小编来说，今年依旧 是购物风暴的一年，今天就来给大家盘点我的网购体验。 先说说我今年还继续用的几个老朋友。 淘宝 这个软件是我从高中用到现在，也有7-8年的时间了。我发现今年很多商品有了运费险，而且如果要退 货的话，会有很多细节选项让挑选。比如点退款—不想要了，就会显示款式不合、材料不合适等等，像 我习惯在退款的时候写自己的反馈（希望对商家的商品升级有用），但选项就很少。退款也变快了，退 货的商品的都是顺丰接单的（我都是用丰巢退货），下单后当天或者是第二天就能收到退款金额。还有 优惠上，变的更直接了，像我拥有88会员，买东西就直接给到优惠价了。除此之外，有个淘宝秒杀板 块，下半年的时候我在这里淘到很多优惠商品，质量也不错。不过有个不好的点，就是在买服饰的时 候，很多商家的介绍图给到的服饰版型都差不多，可实际到手跟图片关系不大。 拼多多 这个软件我使用的时间只有淘宝的一半，一开始还害怕便宜没好货，后面试了几次小东西之后是越来越 香了。我今年买了鞋子、收纳盒、零食，基本都可以。我还试买了苹果（因为这个水果比较好保存，对 运输的要求稍低一点 ...

Group 1 - UBS Wealth Management predicts that the Chinese stock market will continue to have upward potential through 2026, driven by advanced manufacturing and technology as new growth engines [1] - The technology sector, which accounts for about half of the MSCI China Index, is becoming increasingly resilient to external shocks and U.S. economic cycles [1] - The Hang Seng Tech Index is expected to see a 37% growth in earnings per share by 2026, with approximately 7 trillion RMB in excess household savings likely to flow into the stock market [1] Group 2 - Barclays anticipates that the Bank of Japan will raise interest rates in July and December of 2026, influenced by the spring wage negotiation cycle [2] - The report emphasizes the importance of wage negotiations as a key factor in the Bank of Japan's monetary policy and its response to the risk of yen depreciation [2] Group 3 - OANDA reports that multiple factors are driving a historic surge in precious metals, with gold potentially reaching $5,000 per ounce and silver $90 per ounce in the coming year [3] - The report attributes the rise to speculative trading, low liquidity at year-end, expectations of long-term Fed rate cuts, a weaker dollar, and increased geopolitical risks [3] - Platinum and palladium prices have surged due to supply constraints and strong industrial demand, with platinum up approximately 165% and palladium over 90% year-to-date [3] Group 4 - CICC suggests focusing on asset trend changes rather than specific gold price predictions, as current gold prices are above short-term valuation models, indicating potential bubbles [4] - The report anticipates that the gold bull market may not end soon, but volatility is expected to increase as prices deviate from fundamental indicators [4] - CICC maintains an optimistic outlook on Chinese assets, emphasizing the benefits of the AI technology wave and ample liquidity, while suggesting a focus on technology growth in the short term [5][6] Group 5 - CITIC Securities highlights the importance of maintaining macro liquidity stability through tools like reserve requirement ratio cuts and interest rate reductions [6] - The report predicts a 5%-10% increase in the overall A-share market in 2026, with Hong Kong stocks expected to experience a rebound in performance [6] - The outlook for commodities includes expectations for gold to challenge $5,000 per ounce and copper prices to rise to $12,000 per ton due to supply constraints and demand drivers [6] Group 6 - CITIC Securities notes a trend of diminishing focus on quantitative targets by the People's Bank of China, with an emphasis on long-term structural reforms [7] - The report indicates that the central bank's policy may shift towards addressing supply-side issues and reducing financing costs [7] Group 7 - Huatai Securities states that the current appreciation of the RMB is likely to enhance foreign interest in RMB-denominated assets, creating a positive feedback loop for capital inflows [8] - The report suggests that the strengthening of the RMB will continue to support the valuation of both onshore and offshore RMB assets [8] Group 8 - CITIC Jin Investment reports that rising storage costs have begun to impact consumer electronics prices, with several manufacturers increasing product prices by 100-200 RMB [9] - The report indicates that the cost pressures from rising storage prices are likely to lead to a temporary decline in consumer electronics sales [9] Group 9 - Galaxy Securities notes that leading liquor companies are adjusting their strategies for 2026, focusing on maintaining price stability and channel profitability amid cyclical pressures [10] - The report emphasizes the importance of developing new consumer segments and adapting to new consumption trends as part of long-term transformation efforts [10]

活动期间，海量新年好礼官方直降5折起，从品质家居到潮流数码，从暖心好物到高端奢品，覆盖全品 类的优质选择满足不同送礼需求。消费者购买新年骐骥好礼的同时，还有机会获得京东送出的"天花 板"级别排面：你的祝福语，将由跨晚明星亲口念出，并登上湖南卫视跨年演唱会现场大屏，被亿万观 众共同见证；还有机会入驻各地京东MALL商圈巨幕，拥有万众瞩目"大排面"。除了线下大屏，线上同 样精彩，幸运用户的祝福将出现在京东APP开机屏，被全国用户见证，并通过京东官微登上头条，以及 被多家媒体全网推送。 岁末迎新，跨年不只是一种仪式，更是一场表达与传递的情感盛宴。京东今年再度打造"年度宠粉"跨年 盛典，不仅有众多官方直降5折起的尖货好物，更有明星助力、全网霸屏的顶级排面，让这个新年既划 算又有仪式感。即日起，上京东搜索"元旦送礼"，买好礼送祝福！ 辞旧迎新，礼遇新年。即日起，打开京东APP搜索"元旦送礼"，购买又好又便宜的新年好礼，抽取超大 排面福利！这个跨年，京东与你一起，以满满诚意开启崭新一年。 除此之外，作为湖南卫视跨年演唱会的独家冠名商，用户在欣赏视听盛宴的同时，还可以在京东APP搜 索"跨晚"参与互动，抽周大福黄金婚嫁套装 ...

今年双12期间，李欣在京东为新家购置了一把椅子，收货后发现尺寸与家里的桌子配不上。当她点开"退换/售后"页面时，意外发现除了可以换同款的不 同颜色、型号外，还出现了"店铺爆款"和"平台热卖"商品，甚至有个单独的选项，可以直接选到购物车商品，她一眼就看到了此前加购的人体工学椅。每 件商品下方，具体价格和"预计单件到手价补（退）"的金额都清晰呈现。 近日，36氪与京东平台服务的多位项目负责人、商家进行了对话。我们发现，常为电商人说到的"供应链"一词，在京东内部的注解已经远不限于狭义上 的"选品采购"、"物流配送"等环节，而是深入到了零售从售前到售后的每个环节。他们甚至将其延伸为"服务供应链"的概念——京东不只运送货物，更是 希望为用户提供"确定性"的购物体验。 一场关乎"体验痛点"的歼灭战 | 换颜色型号 | 店铺爆款 | 平台热卖 | 我的购物车 | | --- | --- | --- | --- | | ■ 【中国 == 2店 | | | | | | 11 | | 重量工程 第1 | | | ¥22.95 预计单件到手价补¥3.05 | | | 第二天，旧椅子被取走，新椅子也同步发货。李欣说，"没想到现在换货 ...

服务的"超级供应链"， 是京东在长期主义中铸就的生态位。 今年双12期间，李欣在京东为新家购置了一把椅子，收货后发现尺寸与家里的桌子配不上。当她点开"退换/售后"页面时，意外发现除了可以换同款的不同 颜色、型号外，还出现了"店铺爆款"和"平台热卖"商品，甚至有个单独的选项，可以直接选到购物车商品，她一眼就看到了此前加购的人体工学椅。每件商 品下方，具体价格和"预计单件到手价补（退）"的金额都清晰呈现。 第二天，旧椅子被取走，新椅子也同步发货。李欣说，"没想到现在换货可以这么方便、人性化。" 李欣不知道的是，类似"差价换"这种惊喜体验的细节提升，京东在2025年实现了200多个。这并非一次偶然，而是一场持续数年、仍在深入的"静默战争"的 一部分。 近日，36氪与京东平台服务的多位项目负责人、商家进行了对话。我们发现，常为电商人说到的"供应链"一词， 在京东内部的注解已经远不限于狭义上 的"选品采购"、"物流配送"等环节，而是深入到了零售从售前到售后的每个环节。 他们甚至将其延伸为"服务供应链"的概念——京东不只运送货物，更是 希望为用户提供"确定性"的购物体验。 一场关乎"体验痛点"的歼灭战 "差价换"的发心， ...

证券代码：002315 证券简称：焦点科技 焦点科技股份有限公司投资者关系活动记录表 （四）线上线下融合的保险代理业务 公司通过控股子公司新一站开展保险代理业务，采用线上线下融合的 服务模式，为企业和个人提供各类保险产品代理销售、保险智能化整体解 决方案等经监管批准的业务。业务核心优势体现在三大维度：一是技术赋 能管理，通过全渠道客户智能分级系统实现精准对接，建立全链路追踪与 动态资源分配机制，提升服务效率与客户满意度；二是场景化营销突破， 联合多元机构举办线下活动，以"知识宣讲+体验互动"模式传递保险价 值，解决客户核心痛点；三是企业险业务深耕，依托"方案精、价格优、 省心赔"的一站式服务优势，持续扩张企业险业务，巩固在企业风险管理 解决方案领域的核心能力。 综上，公司通过多业务联动，构建了覆盖外贸全链路、跨境全流程的 服务生态。未来，公司将持续深化核心外贸平台优势，加速 AI 技术与外 贸及跨境业务的深度融合，拓展全球市场布局，助力中国企业在全球市场 占据更有利地位。 二、公司提到了 AI 麦可和 Sourcing AI 两款 AI 产品，这两者的服 务对象和核心作用有什么不同？ | | □特定对象调研 ...