品牌打造自己的情绪价值，其实是个老课题，可口可乐、耐克、肯德基、麦当劳等上一代消费巨头早已 操作多年。可今时不同往日，据统计2024年众多品牌倒闭或注销，创14年来新高。如何正确洞察消费者 心理，成为需攻克的第一关。 有心理博主说，你的情绪价值百万，在所有关系中，只要你掌握情绪价值的密码，就进可攻退可守，在 任何关系里都庖丁解牛般游刃有余。那么，对消费者个人情绪的极致满足，是否能实现品牌突围，在血 腥的围猎场中杀出生路？ 把体验值拉满，甚至可以带动线下经济发展。日本实体零售业为何更加强大？早在二三十年前，"从物 品的消费到体验的消费"，就成为日媒经常讨论的主题。日本泡沫经济破灭后，物质层面已经满足的消 费者，其追求必然转向精神层面，线下消费，恰恰是体验不可或缺的渠道。 以日本农产品为例，草莓可以按颗卖，你可以挑最大最红的买；苹果印祝福语，去果园里亲自认养一棵 苹果树；亲口品尝标注糖度值的西红柿有什么不同……消费者购买的是精致生活的标签。还有：农田变 剧场，稻田里种出梵高名画，果园开放采摘体验，农庄设计童话主题打卡点。让游客为故事买单，是日 本农业营销的心法。 在社交媒体上，情绪价值的影响力被无限放大。一些看似 ...

Core Insights - The county market demonstrates strong consumer potential, with significant growth in both dining and non-dining orders on Taobao Flash Purchase [1][3] - Small and medium-sized businesses are seeing steady income increases, with over 57,000 non-dining small shops achieving record order volumes [1][3] - Recent policy directions emphasize the need to effectively unleash domestic demand potential, focusing on expanding goods consumption and nurturing new growth points in service consumption [1] Group 1: County Market Growth - In July, dining orders in counties like Hunan and Shandong saw over 10-fold growth compared to June, while non-dining orders in counties such as Xinjiang and Shanxi also experienced similar surges [3] - The number of "ten-thousand order stores" in counties increased by 274% in July, indicating a robust demand for local services [3] - Nighttime orders in county markets grew by an average of 70% compared to June, showcasing the vibrancy of these areas [3] Group 2: Consumer Preferences and Trends - County residents show a preference for leisure snacks, beverages, and cooling foods, with snack orders increasing by 126% and outdoor sports products by 114% in July [4] - The platform economy plays a crucial role in activating demand in lower-tier markets, contributing to a diversified consumption landscape [4] Group 3: Expansion of Non-Dining Categories - Brands like VERO MODA and ONLY have seen significant order increases after joining Taobao Flash Purchase, with daily orders growing by 5 times and 3 times respectively [5] - Over 12,000 non-dining physical stores joined Taobao Flash Purchase, leading to record daily orders [5] - Research indicates that for every 1 yuan spent on service consumption vouchers, an additional 6.76 yuan in consumption is generated, highlighting the potential for substantial market growth [5] Group 4: Digital Transformation of Retail - The "Aoxiang" digital management platform helps retailers streamline operations, addressing common pain points such as multi-channel management and inventory chaos [7][8] - The number of stores using the "Aoxiang" system has increased by 17.6% since May, covering over 400 cities and various retail formats [8] - The integration of Alibaba's supply chain resources into Taobao Flash Purchase enhances procurement efficiency and reduces stockouts [8]

8月4日，西藏拉萨一餐饮店，服务人员现场表演。近年来，随着一批涵盖了零售、餐饮、休闲娱乐等各 大领域的品牌首店在拉萨开业，为当地民众带来诸多新鲜体验的同时，也促进了城市消费升级。图为服 务人员歌舞表演。中新社记者 李林 摄 8月4日，西藏拉萨一餐饮店，服务人员现场表演。近年来，随着一批涵盖了零售、餐饮、休闲娱乐等各 大领域的品牌首店在拉萨开业，为当地民众带来诸多新鲜体验的同时，也促进了城市消费升级。图为变 脸表演。中新社记者 李林 摄 8月4日，西藏拉萨一餐饮店，服务人员现场表演。近年来，随着一批涵盖了零售、餐饮、休闲娱乐等各 大领域的品牌首店在拉萨开业，为当地民众带来诸多新鲜体验的同时，也促进了城市消费升级。图为服 务人员歌舞表演。中新社记者 李林 摄 ...

Economic Performance - Shenzhen's GDP for the first half of 2025 reached CNY 18,322.26 billion, with a year-on-year growth of 5.1%[3] - The GDP growth rate in Shenzhen exceeded that of Guangdong Province by 0.9 percentage points, with Guangdong's GDP growing by 4.2%[3] Trade Dynamics - Total import and export volume in Shenzhen decreased by 1.1% year-on-year, totaling CNY 21,675.45 billion[8] - Exports fell by 7.0% to CNY 13,086.81 billion, while imports increased by 9.5% to CNY 8,588.64 billion[8] - Shenzhen's share of Guangdong's total trade rose from 46.31% in Q1 to 47.65% in H1 2025[10] Industrial Production - Industrial added value in Shenzhen grew by 4.3% year-on-year, slightly above Guangdong's 4.0%[15][16] - Key sectors such as general equipment manufacturing and electrical machinery saw growth rates of 17.1% and 8.2%, respectively[15] Investment Trends - Fixed asset investment in Shenzhen declined by 10.9%, with real estate development investment down by 15.1%[18] - Industrial technology renovation investment surged by 47.1%[18] Consumer Market - Retail sales in Shenzhen reached CNY 4,948.68 billion, growing by 3.5% year-on-year[23] - The proportion of Shenzhen's retail sales to Guangdong's total increased from 20.54% at the beginning of 2025 to 21.58% in H1[24] Financial Sector - Financial institutions in Shenzhen reported a deposit balance of CNY 141,600.14 billion, up 5.7% year-on-year[31] - Loan balances increased by 3.5% to CNY 98,469.91 billion[31] Price Levels - The Consumer Price Index (CPI) in Shenzhen rose by 0.1% year-on-year, while Guangdong's CPI fell by 0.4%[37]

Core Insights - Chongqing has overtaken Shanghai to become the top city in terms of retail sales, with a total of 830.04 billion yuan in social retail sales for the first half of the year, a year-on-year increase of 4.5%, compared to Shanghai's 826.04 billion yuan and a 1.7% increase [1][5] Group 1: Consumption Growth Factors - Chongqing's unique geographical features have been leveraged to create a diverse consumption space, including 286 locations that combine scenic walking paths and unique commercial experiences, leading to a 15%-20% increase in rental prices along these areas [3][4] - The city has implemented a series of policies to stimulate consumption, including subsidies for 3C digital products, resulting in 3.26 million subsidized transactions and a total subsidy of 1.701 billion yuan by the end of June [3][4] - A total of over 700 consumption events held from April to June generated direct sales of 7 billion yuan, indicating the need for sustained consumer engagement rather than one-time incentives [4] Group 2: Visitor Impact - Chongqing's population of over 30 million and its appeal as a tourist destination have contributed to stable consumption growth, with 235 million domestic tourists visiting in the first half of the year, a year-on-year increase of 8.6%, and domestic tourist spending reaching 250.7 billion yuan, up 11.9% [4] - The city has also seen a significant increase in international visitors, with 923,000 inbound tourists, marking a 77.2% year-on-year growth [4] Group 3: Innovative Marketing Strategies - Chongqing has pioneered the "Charming Chongqing" drone light show, which has become a regular event, setting a Guinness World Record with 11,787 drones and attracting over 4 million spectators [4] - The city has focused on launching new brands and stores, hosting over 120 events for brand launches in the past three years, resulting in 892 new brand stores opening in the city [4] Group 4: National Context - The competition between Chongqing and Shanghai reflects the overall recovery of domestic demand, with national retail sales increasing by 5.0% year-on-year in the first half of the year, accelerating by 0.4 percentage points compared to the first quarter [5]

野人先生（原名野人牧坊）创立于2011年，近年来发展势头迅猛。根据公开消息，2025年2月其门店数约400家，而到7月已突破900家，短 短5个月内新增500家门店，增速高达125%，创下品牌最快拓店纪录。 在资本市场，门店扩张速度往往与公司股价走势密切相关。野人先生如此高速的门店扩张，若能在后续运营中保持良好业绩，提升品牌影 响力和市场占有率，有望在上市后吸引众多投资者关注，推动股价上升。 港股研究社讯，据市场可靠消息，冰淇淋品牌野人先生（北京野人先生餐饮管理有限责任公司）正积极筹备港股IPO事宜。目前，该公司正 在招聘财务审计（港股IPO方向）人员，工作职责涵盖制定内部控制制度和审计制度，编制内控和审计相关文件、年度计划、工作方案等， 并具体推进实施。不过，记者多次致电野人先生官网电话求证招聘及上市相关事宜，截至发稿前仍未获得对方回复。 来源：港股研究社 ...

Core Insights - Starbucks has experienced a decline in global same-store sales for the sixth consecutive quarter, prompting the company to implement a "green apron service" model to boost sales [1] - The company plans to roll out this new service model to U.S. company-operated stores by mid-August, alongside store renovations, system upgrades, and new product launches, which will significantly increase costs [1] - Same-store sales have decreased by 2% globally and in North America, remained flat internationally, while China saw a 2% increase [1] - Overall sales increased by 4% to $9.5 billion, but adjusted earnings per share fell by 46% [1] - The company is seeking strategic partners for its China business while retaining some equity [1] - Some institutions, such as Stifel and JPMorgan, have maintained or raised their ratings and target prices for Starbucks, although the stock appears expensive based on valuation [1] - William Blair reiterated a "neutral" rating, while Citigroup lowered its target price and also assigned a "neutral" rating due to transformation costs, slow recovery, and associated risks, advising investors to be cautious [1]

Market Overview - A-shares experienced a pullback after five consecutive weeks of gains, indicating a temporary adjustment rather than a complete market reversal[10] - The Shanghai Composite Index hovered around the 3600-point mark, with average daily trading volume exceeding 1.8 trillion yuan, reflecting strong market activity[13] - The political bureau meeting on July 30 expressed confidence in the economy, indicating continued macroeconomic policy support for the second half of the year[10] International and Domestic Factors - The U.S. has released stable signals regarding tariff policies, contributing to a more stable global economic environment[10] - Ongoing negotiations between China and the U.S. are trending positively, despite no clear outcomes yet[13] Sector Insights - Technology sectors are expected to benefit from eased restrictions on chip exports to China, with a focus on communication and semiconductor industries[15] - The "anti-involution" theme is gaining traction, with potential investment opportunities in solar energy and new energy sectors[15] - Service consumption is highlighted as a key area for domestic demand expansion, particularly in tourism and dining sectors[15] Investment Strategy - Short-term focus on innovation-driven sectors, while maintaining a balanced "barbell" strategy that includes both technology and dividend-paying stocks[16] - Long-term investments should consider sectors aligned with government policy directions, such as technology and service-oriented consumption[16] Bond Market - The bond market showed slight stabilization due to the pullback in equity markets, although future outlook remains cautious[35] - The bond market's performance is closely tied to equity market trends, necessitating ongoing monitoring[35] Commodity Market - The commodity market has seen a decline, with black metals and precious metals underperforming due to supply-demand dynamics[46] - Short-term recommendations include maintaining gold positions, while a cautious approach is advised for other commodities[46]

Group 1 - The core viewpoint indicates that the A-share market experienced a pullback after a five-week rally, but this temporary adjustment does not signify the end of the current market trend. The market remains healthy with active trading and strong volume, as evidenced by an average daily trading volume exceeding 1.8 trillion [2][3][11] - The report highlights that the 730 Politburo meeting expressed a positive outlook on economic development in the first half of the year and provided guidance for the second half, emphasizing the need for continued macro policy support [3][12] - The report suggests that the technology sector, particularly related to the Nvidia supply chain, should be a focus for short-term investments, while the "anti-involution" theme and service consumption are expected to be key areas for medium to long-term investment [12][13] Group 2 - The bond market showed signs of stabilization due to the pullback in the equity market, which provided some funding support for bonds. However, the outlook for the bond market remains cautious as it is heavily influenced by the equity market's performance [4][5][35] - The commodity market faced a decline, with various categories experiencing a downturn. The report notes that without strong upward momentum in key commodities like oil and gold, the commodity market may struggle to regain its previous highs [6][38] - The report recommends maintaining a short-term allocation in gold while adopting a wait-and-see approach for the medium to long term regarding other commodities [40]

Group 1 - Consumption is the main engine driving economic growth in Anhui, with a focus on service consumption, digital consumption, and green consumption, leading to the emergence of new consumption scenarios and business models [1] - In the first half of the year, Anhui's total retail sales of consumer goods reached 1,205.1 billion yuan, with a growth rate of 5.5%, ranking first in the Yangtze River Delta region [20] - The province has launched over 3,000 "Hui Dong Consumption" activities and issued consumption vouchers worth 800 million yuan, stimulating consumption by 2.26 billion yuan [20] Group 2 - The Yuan Xiao Ao Magic Bookstore in Hefei offers an innovative cultural experience by combining technology, IP, and immersive experiences, attracting over 200,000 visitors and generating over 1.8 million yuan in offline revenue [5][3] - The park where the bookstore is located has hosted over 800 exhibitions and art activities, receiving more than 15 million visitors [5] - The development of new consumption scenarios, such as immersive cultural tourism projects, has contributed to the growth of the entire park's cultural tourism consumption [5][11] Group 3 - Anhui has established 41 provincial-level commercial and cultural tourism integration development clusters and introduced 637 new stores, leading to a 7.0% increase in domestic tourist visits and a 7.2% increase in domestic tourism spending [13] - The province is focusing on enhancing urban commercial capabilities and meeting diverse consumer demands through various initiatives, including attracting well-known commercial projects [15] - The "old-for-new" policy has provided 8 billion yuan in subsidies, driving sales of 59.3 billion yuan, with a focus on improving product quality and consumer experience [17] Group 4 - The shift from "functional consumption" to "value consumption" reflects a growing demand for personalized and high-quality products, prompting Anhui to enhance supply, expand scenarios, and strengthen consumer protection [23] - The province's retail sales growth is 0.5 percentage points faster than the national average, indicating a robust consumer market [20]