Group 1: Labubu 3.0 and Pop Mart - Labubu 3.0 series has launched global pre-sales, with expected sales exceeding 500 million yuan based on a supply of 4-5 million units at a price of 99 yuan each [2] - The secondary market has seen a significant drop in prices for Labubu products, with resale values for blind box sets plummeting from 1500-2800 yuan to 650-800 yuan [2] - Pop Mart's stock price has dropped 12.11% to 239.60 HKD per share, marking a new low since June 3 [2][3] Group 2: Pop Mart's Strategic Response - Analysts have expressed concerns about Pop Mart's valuation, suggesting it lacks a competitive moat due to the short lifespan of its IP and weak pricing power compared to global operators like Disney [3] - In response to market challenges, Pop Mart is optimizing its sales mechanism to allow more genuine fans to purchase Labubu products [3] - The company has announced the establishment of a film studio to expand its IP beyond toys, with an animated series titled "LABUBU and Friends" in the pipeline [3] Group 3: Lao Pu Gold's Global Expansion - Lao Pu Gold is opening its first overseas store in Singapore, aiming to position itself as a luxury brand alongside established names like Louis Vuitton and Hermes [4] - The brand's strategy includes focusing on the Chinese cultural sphere in Southeast Asia, with plans to open four stores in the region by 2026 [5] - Lao Pu Gold plans to introduce localized products that incorporate local cultural elements, such as Christian-themed items in the Singapore store [5] Group 4: Walmart's Dominance in Retail - Walmart China has retained its position as the top supermarket chain with a sales figure of 158.845 billion yuan, equivalent to about two times the size of Hema [7] - Despite a reduction in the number of stores by 8.5% to 334, Walmart's sales have continued to grow, driven by the strong performance of Sam's Club [7] - In Q1 of the 2026 fiscal year, Walmart China's net sales reached 6.7 billion USD (approximately 48.3 billion yuan), reflecting a year-on-year growth of 22.5% [7] Group 5: NITORI's Market Challenges - NITORI has closed 21 stores in China, representing a 20% closure rate, as it faces challenges in the macroeconomic environment [10] - The brand has attempted to diversify its product offerings by introducing higher-frequency items like clothing and pet food, but competition in these categories is intense [11] - NITORI's rapid expansion plans have been curtailed due to the sluggish real estate market and overall consumer sentiment [10][11] Group 6: Three Squirrels' Acquisition Setback - Three Squirrels has terminated its acquisition of Love Snacks due to disagreements on core terms of the deal [13][15] - The company has been heavily reliant on online sales, with 69.73% of its revenue coming from online channels, highlighting its need to strengthen its offline presence [13] - The competitive landscape in the snack industry has intensified, prompting Three Squirrels to reassess its offline strategy amid slowing growth [14] Group 7: Marketing Innovations - Fujifilm's skincare brand ASTALIFT has launched a new sunscreen product that combines multiple functions, targeting young consumers [17] - Balenciaga has opened a flagship store in Beijing, introducing a limited-edition "Peking Duck" bag that sold out quickly, showcasing the brand's unique marketing strategy [19] - IKEA has released a new series of decorative lights designed in collaboration with Dutch designer Sabine Marcelis, emphasizing the role of light in home living [21] Group 8: Corporate Developments - Anta has appointed Yao Jian as the president of the Wolf Claw brand to oversee global operations following its acquisition [25] - The parent company of the Chinese makeup brand Orange has acquired the skincare brand Baizhi Cui, marking its entry into the skincare market [25] - Li Ning has hired Victor Herrero, a former executive from Zara, as the new CEO of Clarks, with a potential total compensation of up to 42 million yuan [26]

在消费市场加速迭代的今天，企业如何精准捕捉趋势、锁定增长密码？ 由艾瑞数智旗下消费专业团队出品 的【艾瑞消费观察】公众号正式登场！ 我们以「行业洞察 + 解决方案」双轮驱动，带您看透消费市场的底 层逻辑，更帮您把洞察转化为实实在在的商业价值。 一、我们是谁？——艾瑞消费事业部，消费赛道的最强大脑 消费 变革时代，艾瑞消费事业部如何成为企业的「战略望远镜」与「增长加速器」？ 三、我们能帮你做什么？——四大「消费增长工具箱」，按需Pick！ 我们是艾瑞数智深耕消费领域的专业团队，依托深厚的行业研究底蕴，为消费企业提供定制化商业 洞察。 别只盯着报告看！我们的核心价值，是帮你把「洞察」变成「生意」。以下四大解决方案，总有一 款适合你： 划重点： 我们不是单纯的报告生产者，而是「研究+落地」的实战派。 我们隶属艾瑞数智生态，共享数据技术资源，但 更聚焦消费行业垂直场景 ； 1. 品牌营销「加速器」——从曝光到转化，全链路帮你打通！ 累计 服务超千家消费企业 ，输出数千份行业报告，从快消到汽车、从服饰到餐饮，处处有我们的 研究足迹； 擅长用数据手术刀解剖市场， 更能用商业指南针规划增长，是企业决策层的外脑 ，更是执行层 ...

Core Insights - MINISO SPACE, the first of its kind globally, opened in Nanjing, attracting significant consumer interest and long queues for exclusive products [1][3] - The store features 29 major global IPs, integrating high-end commercial spaces with interest-driven consumption [3][4] - The concept emphasizes experiential retail, blending shopping with social interaction and immersive experiences [3][4] Company Strategy - MINISO SPACE aims to provide differentiated consumer experiences, enhancing brand image while activating young consumer potential in high-end commercial areas [4][5] - The store's design incorporates a narrative flow of exhibition, experience, and retail, appealing to the aesthetic sensibilities of the target demographic [3][4] Consumer Behavior - Young consumers are increasingly engaging in "interest consumption," prioritizing emotional value and experiences over traditional material purchases [5][6] - The average transaction value at MINISO SPACE reportedly quadrupled compared to national averages, indicating strong consumer willingness to spend on unique products [5] Market Trends - The rise of interest-driven consumption reflects a broader shift in consumer behavior, with a focus on personalized and experiential retail [5][6] - Nanjing's selection as a pilot city for retail innovation highlights the city's strong consumer power and supportive policies for commercial innovation [6]

过去10年，中国制造业的用工成本几乎翻了一倍，有些行业甚至涨得更多。原材料价格也受全球供应 链、能源政策和环保要求的影响，一路上涨。 每次提到出海，很多人脑子里蹦出来的第一个词就是： 这些变化倒逼企业必须升级，推动自动化、智能化技术的普及，而在海外，竞争也不再只是拼价格那么 简单了。 所以，如果还觉得"便宜就能赢"，那这条路只会越走越窄；我认为，真正推动中国企业走出去的，是供 需错配带来的结构性机会。 01 什么是供需错配？别着急，我跟你讲几个案例： 成本战略。 好像只要中国企业走出去，一定靠着"便宜"打天下。但问题是：这套打法，现在还管用吗？ 中国在人工和原材料方面确实还有一定优势，但早就不是"白菜价"了。 2015年，一家叫影石的中国公司刚刚成立。那时，运动相机市场几乎被GoPro垄断；这家初创企业没有 硬刚，也没有靠价格战去拼，而是找到了一个别人没做、但用户需要的场景缺口：滑雪拍摄。 滑雪者高速滑行，动作剧烈，普通相机抖得根本没法看。而影石就抓住痛点，做出了全球第一款自带超 强防抖功能的运动相机，这一下子戳中了Vlogger、极限运动爱好者的心窝。 几年后，它不仅站稳了脚跟，还反向打入美国市场，成为Go ...

近日，北京市商务局等4部门联合发布《北京市扩大时尚消费专项行动方案》（以下简称《方案》）， 以时尚场景育新、活动提升、品牌创新等五大专项行动共21项举措，激发北京时尚消费潜力、彰显首都 时尚魅力。 3月25日， 游客从前门大街的文创店前走过。新华社记者 李欣 摄 文化自信为笔，擘画时尚新篇。擦亮"京"字招牌，这是以时尚为笔，书写首都的文化自信：让传统在创 新中焕发新生，让世界通过消费场景读懂中国。北京的时尚消费要走得更远，需要始终锚定"首都风 范、古都风韵、时代风貌"的定位——在CBD核心区建设"国际时尚发布中心"，让中国设计师从这里走 向世界；在城市副中心打造"运河时尚秀场"，让千年运河文化成为时尚叙事的灵感源泉；甚至可以将长 城、颐和园等世界遗产转化为"户外时尚打卡地"，让游客在山水之间感受"行走的京味美学"。当一位游 客在南锣鼓巷买下印有京剧脸谱的文创T恤，当年轻人在直播间为京绣工艺的丝巾点赞，这些消费行为 超越了物质层面，成为文化认同的表达。 当前，消费市场正经历深度变革，个性化、品质化、体验化成为时尚消费新趋势。北京作为全国文化中 心与国际消费中心城市，既坐拥深厚历史文化底蕴，又汇聚全球前沿潮流资源 ...

Group 1 - The purpose of the visit was to understand the development status of the company, explore industry trends, and provide targeted support and guidance for innovation and expansion in the fashion consumption sector [1][5] - The company emphasizes design innovation and has a professional design team that draws inspiration from culture, art, and life, ensuring products meet consumer decoration needs while also being fashionable [3][5] - The company operates a full industry chain model, managing design, production, and sales, and has a business philosophy focused on "full industry chain control + technological innovation + cultural value empowerment" [3][5] Group 2 - The company faces opportunities and challenges in brand franchising, market expansion, cross-border e-commerce, and cultural creative enterprise development [5] - The local government is committed to creating a favorable business environment and will provide comprehensive support in policy, talent introduction, and industry connection to help the company strengthen its position in cross-border e-commerce and cultural IP [5][7] - The visit enhanced communication between the government and the company, providing new ideas and directions for the further development of the fashion consumption industry in the region [7]

Group 1: Market Growth and Trends - The domestic infant formula market experienced a 2.3% year-on-year sales growth in Q1 2025, reversing a 0.9% contraction over the past 12 months [1] - The increase in birth rates, driven by the "Year of the Dragon" baby boom and post-pandemic recovery, led to a slight rise in newborns to 9.54 million in 2024, ending a seven-year decline [1] - However, marriage registrations dropped over 20% in 2024, indicating a potential future decline in newborn numbers and a shift in market focus from newborns to older children [2] Group 2: Sales Channel Changes - Online sales channels are gaining traction, with Tmall and JD.com reporting sales growth of 13.7% and 12.6% respectively in Q1 2025 [2] - High-end infant formula products are becoming mainstream, with the ultra-high-end segment growing by 13.3% year-on-year from January to April 2024 [3] Group 3: Company Performance - FrieslandCampina's core infant formula brand, Friso, maintained double-digit growth in the Chinese market in 2024, while Feihe's ultra-high-end product, Star Flying, saw sales increase by over 60% to 6.7 billion yuan [4] - Pricing control has become a common strategy among high-end infant formula brands, allowing them to maintain a degree of pricing power in the e-commerce sector [5][6]

一向以线下消费为主的黄金珠宝行业，也在发力线上生意。周生生、潮宏基等诸多品牌都在线上推出了 小克重产品，这类产品往往采用5D硬金技术，只需1-2克黄金就可以制作出精美的饰品；老铺黄金也在 今年推出了多个线上专款吸引不少消费者。 当下，中国市场的黄金珠宝消费呈现两大新兴特点，一方面黄金工艺改进与"悦已"消费趋势兴起，使得 黄金首饰年轻化趋势愈发明显，年轻消费者更愿意为审美支付高溢价；另一方面数字传播能力大幅提 升，整合营销方式触达客户群体的效果更为明显。 除了在产品和工艺方面的创新，时尚类消费品牌也在不断推出新场景，"体验型消费"成为新趋势。不论 是快时尚品牌还是奢侈品集团，都在不断升级线下门店，路易威登、迪奥和爱马仕即将在北京三里屯太 古里开设独栋旗舰店；5月22日，H&M位于悠唐购物中心的门店正式重装亮相，新店面积超过1500平方 米，原有的封闭式墙体升级为落地展示橱窗，视野更为开阔。提供"情绪价值"成了品牌线下开店的核心 思路之一。可见，北京消费市场正从"性价比"向"质价比"转变，消费者更注重与商品、品牌之间的情感 链接，愈发多元化、场景化的时尚消费正在成为北京消费市场的重要力量。 5月以来，国际金价震荡 ...

Core Viewpoint - Uniqlo's collaboration with the popular IP "THE MONSTERS" from Pop Mart, particularly featuring the character Labubu, is expected to generate significant consumer interest and sales, although the sustainability of this strategy for long-term growth remains uncertain [3][5]. Collaboration and Product Launch - The new product line from the "THE MONSTERS" collaboration will be available for sale starting August 29, featuring adult and children's items such as T-shirts and sweatshirts priced between 79 to 199 yuan [4]. - The popularity of Labubu is highlighted by a record sale of an original Labubu figure for 1.08 million yuan, indicating strong consumer demand and interest in the collaboration [5]. - Uniqlo has a history of successful collaborations with various well-known IPs, including previous partnerships with Pop Mart in April 2022, which saw significant resale price increases for collaborative products [5][6]. Market Performance and Strategy - Uniqlo's collaboration strategy has proven effective in driving traffic and sales, with past collaborations resulting in products selling out quickly and achieving high resale values [6]. - The company has engaged in numerous collaborations this year, including with brands like Ghibli, Pokémon, and others, showcasing its commitment to leveraging popular culture for brand enhancement [5][7]. - Analysts suggest that Uniqlo's collaboration strategy not only boosts sales but also elevates its brand image, allowing it to maintain a fashionable appeal despite being a mass-market brand [7]. Competitive Landscape - Uniqlo faces increasing competition in the Chinese market, which is crucial for its revenue, contributing over 20% to its total income [9]. - Recent financial data indicates a decline in revenue and profit in the Greater China region, with a 3% drop in revenue and a 9% drop in profit projected for the 2025 fiscal year [9]. - Competitors like Zara and H&M are intensifying their strategies in the fast fashion sector, posing additional challenges for Uniqlo [9][10]. Financial Performance - Uniqlo's overall revenue growth has been slowing, with a 20.2% increase in the 2023 fiscal year, followed by a projected 12.2% increase in 2024 [10]. - The company is experiencing pressure from the shift towards online shopping and increased operational costs, which are common challenges faced by many fast fashion brands today [10].

这是新消费智库第 2 6 5 4 期文章 新消费导读 新消费 1. 百威集团在美国推出无糖能量饮料品牌 Phorm Energy 1. 百威集团在美国推出无糖能量饮料品牌 Phorm Energy 2. 元气森林海外市场首个联名产品上市 3. 日本星巴克推出首款辣味星冰乐 4. 大窑推出益生元果汁汽水 5. 伊利推出屋顶装安慕希佐餐酸奶饮品 6. 杜嘉班纳完成 1.5 亿欧元债务融资 7. 嘉士伯和百事拟投资 18 亿建厂 8. 童装安奈儿创始人拟转让控制权 9. 诺和新元 完成对帝斯曼 - 芬美意在饲料酶联盟中的业务收 购 10. 福州塔斯汀餐饮公司增资至 1.18 亿元 11. Fent y Beaut y by Rihanna 中国大陆首家概念店登陆深 圳万象天地 12. 味动力进军功能化乳品 13. Gentle Mons ter 打造全新限时联名空间 14. Longchamp 珑骧官宣 王曼昱为品牌跃动大使 15. 老乡鸡与分子咖啡开了一家鸡汤咖啡馆 近日，百威集团在美国市场推出无糖能量饮料品牌 Phorm Energy ，产品含 4 种口味（ 16 盎司 / 罐），一罐售价为 2.99 美元。 ...