Core Insights - The new home renovation policy in Shanxi Province, which includes a subsidy of up to 18,000 yuan for 40 categories of products, has significantly boosted sales in the home improvement sector, particularly in smart bathroom products [1][2][5] Group 1: Policy Implementation - The "old for new" policy covers 40 categories of home improvement products, including tiles, smart toilets, and elderly-friendly handrails, with a maximum annual subsidy of 18,000 yuan per household [1][3] - The policy has led to a notable increase in sales, with some stores reporting a doubling of sales in smart bathroom categories during the first quarter of implementation [1][2] Group 2: Consumer Behavior - Consumers are taking advantage of the dual benefits of government and store subsidies, leading to increased purchases of home improvement products, especially in the bathroom category [2][4] - The policy has prompted consumers to upgrade their homes, with many opting for more comfortable and modern products, such as smart toilets and beds [2][4] Group 3: Market Trends - The introduction of smart and elderly-friendly products is driving new consumption patterns in the kitchen and bathroom sectors, with products like AI health toilets gaining popularity [4][5] - The overall retail sales in Shanxi Province reached 192.75 billion yuan in the first quarter, reflecting a year-on-year growth of 5.9%, indicating a release of consumer potential driven by market upgrades and policy support [5] Group 4: Subsidy Details - The subsidy structure allows consumers to receive a 15% discount on eligible products, with an additional 20% discount for energy-efficient items, applicable for up to five purchases per category [3][6] - Consumers must register on a service platform to qualify for the subsidies, which are directly deducted at the point of sale [6]

Core Insights - The report highlights the top brands in the home and decoration sector, with Libai, Miniso, and Muji leading the popularity index with scores of 1.99, 1.75, and 1.75 respectively [2][3] Brand Rankings - The top brands in the home and decoration category are as follows: 1. Libai - 1.99 2. Miniso - 1.75 3. Muji - 1.75 (up 4 spots) 4. KER - 1.71 (up 2 spots) 5. Mainstream Home Decoration - 1.44 (new entry) 6. Kuka Home - 1.18 (up 7 spots) 7. Sogou Home - 1.14 (new entry) 8. Xibanshishi Mat - 1.09 (new entry) 9. Quanyou - 0.94 (new entry) 10. Genji Wood Language - 0.90 (up 4 spots) [2] Consumer Trends - The report indicates that holiday cycles and social trends are driving the consumption of health-oriented and low-cost home products. The demand for home renewal post-Spring Festival and Valentine's Day marketing create a dual effect, prompting brands to strategically position their products for specific scenarios [4] - Libai focuses on deep cleaning needs by enhancing marketing for pet-specific cleaning products, while Miniso targets emotional consumption during Valentine's Day with affordable home items, reflecting a dual consumption logic of functionality and emotional connection [4] Technological Integration - The integration of health technology in home products is evolving from a conceptual phase to a standard value proposition. Brands like Oppein are incorporating smart home systems, while Aisino is focusing on health management through innovative bedding products [5] - This shift indicates a deeper user demand for both high-end and mass-market products, where technology becomes a fundamental value rather than an added feature [5] Index Overview - The report is part of the "World Research Consumption Guide" series, which includes various consumption indices aimed at objectively presenting trends in the consumer market to assist brands in tracking market dynamics [6][7]

点击小程序查看报告原文 提振内需的必要性与政策实施的有效性正在提升 外部冲击之下，"扩内需"必要性进一步提升。 美国近期实施的关税政策力度远超预期，扰动全球贸易秩序，加剧全球经济放缓风险。中美贸易摩擦动态 演绎，截至4月16日，中国出口美国的个别商品累计各种名目的关税已达到245%[1]。在此背景下，我国政府迅速采取针对性措施，包括对等关税、出口管 制、反倾销调查、WTO诉讼等[2]，维护多边贸易。与此同时，在外部尤其贸易前景尚不明朗的背景下，更为积极地实施内需刺激政策必要性提升，以国 内增长确定性应对外部环境的不确定性。 当前时点"扩内需"的效果或优于以往。第一，从政策空间来看， 近期公布的物价数据显示，CPI同比2月起再次进入负增长区间，PPI同比持续低位运行， 通胀低位为货币宽松和财政刺激提供了更大操作空间。 第二，从政策目标来看， 扩大内需是去年底经济工作会议以及两会明确的首要任务[3]。特别地， 2024年地方政府债务置换计划落地后，地方偿债压力缓解，为新增投资及民生支出释放财政空间，地方政府配合中央逆周期调控的能力和意愿增强。 第 三，私人部门信心逐步企稳。 3月统计局公布的商品房销售面积、销售金 ...