跨境出海丨市场观察 本周看点： -2026年海外仓 智造出 海新方式：聚焦美国海外仓市场新版匹配推荐； -2025出海盘点： 下一片 出海热土，为什么还是中东？ -出海2026：决定营销成败的是什么 ？ 概要： 2025年中东市场进入"静默增长期"，中企从蜂拥转向精耕细作。普华永道数据显示， 44%中企已制定详细中东计划，40%实现盈利，业务收入占比显著提升。中企布局呈现三大趋 势：1）从沙特、阿联酋向GCC国家下沉，如Keeta覆盖沙特20城后拓展至卡塔尔等国；2）合 作模式升级为产业链协同，如金蝶在卡塔尔设立区域总部输出数字化能力；3）利用各国优势 构建枢纽网络，如顺丰与阿曼物流集团合作。中东资本也转向理性投资，收缩体育等长周期项 目，聚焦AI、游戏等高潜力领域，如沙特打造低成本AI数据中心，PIF收购艺电。市场整体从 风口驱动转向务实运营，强调合规、本地化与可持续盈利。 3.出海2026：决定营销成败的是什么？ 关键词： AI,大模型,出海营销,红人营销,精准投放 概要： CES 2026聚焦AI，其在2025年已重塑商业，尤其在内容生产和网红营销领域。AI大模 型助力品牌精准营销，如扫地机品牌获3亿+ ...

Regulatory Updates - A series of new regulations will take effect starting February, including the "Encouragement of Foreign Investment Industry Catalog (2025 Edition)" and the "Regulations on Stopping the Abuse of Administrative Power to Exclude and Restrict Competition" [1] Macroeconomic Indicators - In January, the Manufacturing Purchasing Managers' Index (PMI) was reported at 49.3%, a decrease of 0.8 percentage points from the previous month. The Non-Manufacturing PMI was at 49.4%, also down by 0.8 percentage points, indicating a decline in economic activity [3] - The Composite PMI Output Index fell to 49.8%, down 0.9 percentage points, reflecting a seasonal slowdown in manufacturing and insufficient market demand [3] Investment News - A-share listed companies are entering a busy earnings disclosure period for 2025, with over 70 companies having released their annual reports and more than 2200 companies providing earnings forecasts. The overall performance shows a "polarized" trend, with some sectors thriving while others, like real estate and photovoltaics, face challenges [6] - Domestic gold jewelry prices have seen a decline due to international gold price fluctuations, with significant price drops reported by various brands [6] - The global AI computing power market is experiencing rapid growth, with expectations for the domestic transformer market to grow over 20% year-on-year by 2025, driven by AI computing and ultra-high voltage products [7] Company Developments - Nvidia's CEO Jensen Huang announced the company's intention to invest in OpenAI, potentially marking its largest investment to date, although the amount will be significantly lower than previously reported figures [9] - ZTE Corporation and JD.com have signed a strategic cooperation agreement aiming for ZTE to achieve over 10 billion yuan in sales through JD.com channels over the next three years [9] - Beijing Qingwei Intelligent Technology Co., Ltd. has completed a name change to Beijing Qingwei Intelligent Technology Co., Ltd., focusing on reconfigurable computing chips and preparing for an IPO [9]

Core Viewpoint - Baillie Gifford continues to focus on technology and growth sectors, maintaining a global perspective despite a reduction in total assets held to $120 billion, down $15 billion from the previous quarter [1]. Holdings Overview - As of Q4 2025, Baillie Gifford holds a total of 265 companies with assets amounting to $120 billion, reflecting a decrease of $15 billion from Q3 [1]. Top Holdings - The firm remains heavily invested in global technology and consumer giants, with a notable emphasis on Latin American e-commerce platform MercadoLibre, and Nvidia leading the portfolio, indicating confidence in the long-term potential of AI infrastructure [4]. Top Buys - Significant increases in holdings include: - Axon Enterprise (AXON) with an additional investment of $860 million - Medline Inc (MDLN) with $437 million - Rocket Lab (RKLB) with $399 million - Google-A (GOOGL) with $373 million - Duolingo (DUOL) with $357 million - The firm shows strong interest in vertical technology sectors, particularly in safety technology and education [5][6]. Top Sells - The firm has reduced its positions in: - Datadog Inc (DDOG) by $1.01 billion - Cloudflare (NET) by $990 million - Shopify (SHOP) by $680 million - BioNTech SE (BNTX) by $630 million - Meta Platforms (META) by $590 million - This indicates a strategic retreat from cloud computing and vaccine-related companies, likely based on valuation and growth switching logic [7][8]. New Positions - New investments include: - Medline Inc (MDLN) with $437 million - United Therapeutics (UTHR) with $157 million - MongoDB (MDB) with $112 million - BillionToOne (BLLN) with $104 million - Silvergate Capital (SVM) with $35 million - The new positions reflect Baillie Gifford's exploration in emerging fields such as rare disease treatment and databases, showcasing a commitment to long-term tracking in technology and healthcare [9][10].

2026年第一大消费趋势为折扣驱动型消费，"抢便宜"成为主流诉求，真折扣产品备受消费者青睐。政策层面，2026年将实施大规模设备更新和消费品以旧换 新政策，家电、数码和智能产品等均有补贴，专家预计相关资金规模将上调，补贴形式和范围或进一步优化。 第二大趋势是焦虑驱动型消费，传统"口红效应"呈现新载体。玩具乐器类目2025年退货后销售额达350亿+，潮玩盲盒、手办等品类年销额增速超50%，新IP 持续带动销售；天然水晶等玄学相关品类增长迅猛，年销额增速最高超370%；均价不高的随身把件热销，潮流把件、传统把件等品类均实现大幅增长；奶 茶果茶成为消费者"自我奖励"的重要选择，中国新茶饮市场规模超3500亿元，相关企业营收和门店扩张表现亮眼。 今天分享的是：Nint任拓：2026年三大电商消费趋势报告 报告共计：24页 2026年电商消费趋势报告总结 Nint任拓《2026年三大电商消费趋势报告》基于2025年某主流电商平台15个主流实体消费品行业数据，回顾了整体消费表现并展望未来趋势，核心呈现"抢 便宜""稳心态""爱自己"三大消费方向。 2025年该平台退货后销售额同比增速达41%，其中服饰内衣、智能家居等8个 ...

Group 1 - The company expects a net profit attributable to shareholders of between 50 million and 75 million yuan for the year 2025 [1] - In 2025, the company will continue to advance its large store strategy, opening 79 new SuningMax and SuningPro experience stores [1] - The company aims to enhance its supply chain by launching new products in collaboration with factories and iterating service products such as home appliance cleaning [1] Group 2 - The company is focusing on user operations by introducing various experience scenarios, including 3C classes, coffee, gaming, and kitchen experiences [1] - In the county and town markets, the company is steadily advancing the construction of retail cloud large stores, with 24.10% of new franchise stores being large stores [1] - The retail cloud business is expected to stabilize from the third quarter of 2025, with self-operated product sales revenue increasing by 15.9% year-on-year in the second half of 2025 [1] Group 3 - The e-commerce business is centered on home appliances and 3C products, promoting the integration of online and offline consumption scenarios [2] - The company has achieved significant results in expanding its government and enterprise business, with annual revenue growth of 23.18% [2] - The company is actively pursuing debt resolution and risk asset disposal to lay a foundation for sustainable future development [2] Group 4 - The company plans to leverage new growth opportunities by enhancing core capabilities and focusing on its main business [2] - The company aims to improve operational efficiency by enriching product offerings, upgrading retail scenarios, and enhancing service quality [2]

Core Viewpoint - In 2025, the National Market Supervision Administration handled a total of 44,521 advertising violation cases, imposing fines totaling 252 million yuan, effectively strengthening consumer rights protection. Group 1: Advertising Violations - Guangzhou Jianmei Health Technology Co., Ltd. was fined 600,000 yuan for false advertising claims regarding eye health products, including misleading statements about preventing myopia and promoting false endorsements from international ophthalmologists [1]. - Nala Zun Tuo (Guangzhou) Dairy Co., Ltd. faced a fine of 450,000 yuan for advertising camel milk powder with false claims related to health benefits and misleading promotional content [2]. - Jingdezhen Yuxin Yicai Ceramics Co., Ltd. was fined 287,200 yuan for misleading consumers by falsely advertising ceramic tableware as being produced in Jingdezhen [3]. - Inner Mongolia Caozhilou Biotechnology Co., Ltd. was fined 200,000 yuan for advertising organic perilla seed oil with unverified health claims [4]. - Chongqing Linhui Tai Business Information Consulting Co., Ltd. was fined 160,000 yuan for promoting various health products with exaggerated claims about their efficacy [5]. - Hangzhou Qingbi Brand Management Co., Ltd. was fined 190,000 yuan for advertising eye health patches with unsubstantiated claims about restoring vision [6][7]. - Anhui Kangqiao Real Estate Co., Ltd. was fined 150,000 yuan for misleading advertising related to real estate development [8]. - Shandong Chengshi Chengshi E-commerce Co., Ltd. was fined 105,000 yuan for advertising unapproved medical devices and making false health claims [9]. - Songyuan Anorectal Hospital was fined 100,000 yuan for misleading advertising regarding its medical qualifications [10]. - Yunnan Yuyao Biological Pharmaceutical Co., Ltd. was fined 100,000 yuan for violating advertising regulations for prescription drugs [10]. Group 2: Regulatory Actions - In 2025, the National Market Supervision Administration launched a nationwide campaign to rectify advertising market order, focusing on key areas such as healthcare, pharmaceuticals, medical devices, food, and children's vision protection [10].

18 IEI 成 全省限额以上单位粮油食品类商品零售额 同比增长19.3% 其中粮油类21.8% 肉禽蛋类6. 9% 水产品类21.7% 蔬菜类13.3% 干鲜果品类23.6% 日用品类商品零售额增长２６．５％ （来源：河北新闻网） 转自：河北新闻网 15483.2亿元 同比增长5.6% 增速快于全国1.9个百分点 増速居全国第2位 全省限额以上单位实现消费品零售额 5369.0亿元 同比增长6.9% 按消费类型分 商品零售5172.9亿元 同比增长7.2% 餐饮收入196.0亿元 增长0.7% 潭时新闻 更懂你 更有光 鄭町 翼时新闻 重症你 更有光 動。 ll 直 日 A areast in 成 全省消费品以旧换新共 申请补贴资金172.38亿元 累计带动销售额1280.33亿元 限额以上单位家用电器和音像器材类 零售额增长12.6% 家具类 零售额增长36.3% 通讯器材类商品 零售额增长41.1% 数字化智能化商品需求加速释放 全省限额以上单位新能源汽车类 零售额同比增长7.8% 智能手机商品 零售额同比增长55.2% 能效等级为1级和2级的商品 零售额同比增长91.6% 智能家用电器和音像器材类商品 ...

■"银发经济"新浪潮：适老化设计如何催生"青春化"市场 银发经济，一头连着经济发展，一头牵系民生福祉。截至2024年底，全国60岁及以上老年人口达3.1亿人，预计到2035年，这一群体数量将超4亿 人，银发经济规模有望突破30万亿元。这个庞大群体催生的，远不止于传统的养老与照护需求，更是一个向往活力、快乐与自我实现的"青春 化"新市场。记者观察到，一场从"被动养老"到"主动享老"的消费变革，正从供给侧悄然发生。 在浙江义乌的电商平台上，一批专为老年人设计的益智玩具，正成为新的增长点。 ■"新国补"激发购车热 助力车市"开门红" 新年伊始，新一轮"国补"政策正式落地。今年，申领汽车报废更新补贴旧车的注册登记时间进一步放宽。汽车以旧换新补贴方式从定额补贴调整 为按照新车售价比例给予补贴，报废更新最高补2万元，置换更新最高补1.5万元。这意味着购买价值更高、技术更先进的节能环保新车的消费 者，能够获得相对更高额度的补贴支持。 在河北，今年保定市共有290余家汽车销售企业参与以旧换新活动，1至2月，保定市共安排补贴资金14652万元，确保政策真正惠民利企。 在河南省漯河市，当地组织55家知名汽车销售品牌联动推出"厂家 ...

（来源：黑龙江日报） 转自：黑龙江日报 中共黑龙江省委办公厅 黑龙江省人民政府办公厅印发 中共黑龙江省委办公厅 黑龙江省人民政府办公厅 2026年1月29日 为深入贯彻中央经济工作会议精神，全面落实省委十三届九次全会暨省委经济工作会议部署，发挥存量 政策和增量政策集成效应，全力巩固拓展经济回升向好势头，确保实现一季度"开门红"，确保"十五 五"开好局、起好步，制定本政策措施。 一、大力提振消费 （一）优化消费品以旧换新政策实施。抓紧审核兑付2025年度消费品补贴，1月底前全部兑付到位，实 现跨年度顺畅衔接和平稳有序过渡。一季度安排各类资金12亿元左右，实施好汽车报废更新、汽车置换 更新、6类家电以旧换新、4类数码和智能产品购新等领域国家补贴政策。汽车更新补贴由定额补贴调整 为按车价比例补贴。家电以旧换新调整为补贴1级能效或水效产品，按照产品售价的15%给予补贴。 （二）开展促消费系列活动。打造"购在龙江"、"龙江味道"、"龙江好物"等品牌，抓住春节、元宵节等 重要消费节点，统筹开展"新春年货节"等冬季促消费活动500场以上。鼓励各市（地）精准发放消费 券，因地制宜设计简便灵活的领用规则，合理确定消费券有效期， ...

Core Viewpoint - The recent initiative by the Ministry of Civil Affairs and other departments aims to support the establishment of senior-friendly consumption zones in large commercial complexes and chain supermarkets, as well as encourage e-commerce platforms to optimize their "senior mode" [2][3] Group 1: Current State of Senior-Friendly Zones - Many existing senior-friendly zones in supermarkets and e-commerce platforms are merely superficial, lacking substantial differentiation from regular areas [2] - In some supermarkets, although physical adjustments like lower shelves and larger price tags have been made, the product offerings remain the same, and many seniors are unaware of these zones [2] - Services in these zones, such as haircuts and foot massages, are priced significantly higher than what many seniors can afford, indicating a disconnect between offerings and the target demographic [2] Group 2: Purpose and Importance of Senior-Friendly Zones - The primary goal of establishing senior-friendly zones is to enhance the shopping experience for the elderly, addressing challenges such as product recognition, dietary needs, and digital usage [3] - It is crucial for these zones to be genuinely beneficial rather than just a response to policy, as ineffective implementations can erode seniors' trust in market services [3] Group 3: Recommendations for Improvement - Both government and businesses need to collaborate to create a sustainable mechanism for the development of senior-friendly zones [3] - The government should enhance operational guidance and increase support measures, as outlined in previous policies aimed at fostering the silver economy [3] - Businesses should adopt a more thoughtful approach, focusing on the actual needs of seniors by optimizing product offerings and improving service facilities [4] - E-commerce platforms should refine their senior modes through comprehensive design improvements, including user interface and product recommendations, to better serve the elderly [4]