深圳商报·读创客户端记者 曹欣 "上午首发的专利产品售罄，中午紧急补货""单日成交几十单，企业团单还在跟进"……1月8日至9日， 2026"南山好市"年货节现场，这样的火爆场景随处可见。这场由南山区企业发展服务中心主办的活动， 集结了OPPO、努比亚、北鼎等40余家优质企业，最终收获1354对供需建联、4115笔成交的亮眼成绩。 这场充满烟火气的年货节，不仅点燃了新年消费的"第一把火"，更成为南山深化企业服务、优化营商环 境的生动注脚。 区别于传统展销会的"广撒网"，此次南山年货节的核心密码在于"精准匹配"。临近年关，企业年会采 购、福利发放进入高峰期，主办方提前深入辖区企业开展需求调研，主动与参展商磋商议价，为批量采 购企业争取到最低市场价3折的优惠。从重点企业、金融机构到政府部门工会，组团采购的队伍络绎不 绝，政企联动、企企互采的良性生态在现场加速形成。 "这次活动太火爆了。"深圳市三六零智慧生活科技有限公司负责人的感慨，道出了参展企业的共同感 受。对中小企业而言，这场年货节更是切入大型企业供应链的"绿色通道"——不少本土新锐品牌凭借优 质产品，成功与龙头企业达成合作意向，实现了从"产品展销"到"生态融入 ...

全网曝光超1亿人次，李佳琦等头部主播强势助阵……刚于2025年8月落下帷幕的第二届香港好物节，再 度引爆消费热潮! 作为香港贸发局助力中小企拓展内地电商市场的重要举措，香港好物节从2024年的举办首届活动，演进 至2025年"电子商务快线"旗舰活动的规模升级，成为连接粤港澳大湾区资源、促进两地消费融合的重要 桥梁。未来三年，香港好物节将继续升级举办香港好物节，通过更丰富的活动矩阵、更精准的资源对接 和更全面的能力赋能，为香港企业提供良好的展示及推广平台，扩大品牌影响力和市场覆盖。 瞄准内地电商市场商机 搭建港商内地掘金平台 回顾香港好物节的发展历程，两届活动交出亮眼答卷。2025年8月举办的第二届香港好物节，堪称爆发 年，吸引近260个品牌踊跃参与，汇聚食品饮料、个护美妆、生活家品、数码潮玩等品类，通过在淘 宝、京东、抖音三大平台打造主会场以及李佳琦、胡可等主播现身带货，最终直播总观看量超1000万人 次，社交媒体话题浏览量超5000万，全网曝光突破1亿次。从首届试水到第二届爆发，不少参与港商销 量实现倍数增长，调研显示，超80%的参与港商表示将继续报名。 由香港贸发局主办的香港好物节，正是瞄准了持续深化的促 ...

Core Insights - The Chinese consumer market is undergoing a significant transformation and reshaping in 2025, with consumption becoming the main driver of economic growth [2][4] - The emergence of new consumption patterns, such as instant retail and the "emotional economy," is reshaping consumer behavior, particularly among Generation Z [2][6] - The "2025 New E-commerce Summit" highlighted the importance of innovation and brand adaptation in navigating the evolving market landscape [4][5] Macro Trends - From January to November 2025, China's total retail sales of consumer goods increased by 4% year-on-year, surpassing the growth rate of the previous year [2] - The summit emphasized the role of new productive forces and expanding domestic demand as key factors for economic growth [7] Industry Highlights - The summit featured over 50 leading consumer brand founders and CEOs, discussing trends in category innovation, instant retail, and market strategies [4][5] - The "2025 New E-commerce Innovation Brand Awards" recognized twelve innovative brands, showcasing the integration of industry rankings and expert evaluations [4][35] Consumer Behavior - The concept of "Happiness" in consumer spending is gaining traction, with brands focusing on creating joyful experiences for consumers [12][14] - The "HHB trend experience paradigm" was introduced, emphasizing Health, Happiness, and Beauty as key elements driving consumer preferences [11][12][13] Brand Innovations - Brands like Xu Cuihua and Phoenix Bicycle are successfully adapting to consumer demands by focusing on emotional satisfaction and product innovation [16][17] - The rise of "颜值经济" (aesthetic economy) reflects the increasing importance of beauty and aesthetics in consumer choices, as seen with brands like Spes and Leifen [19][22] Health and Wellness Trends - Health-conscious products are becoming increasingly popular, with brands like Wuzhou Yogurt capitalizing on clean ingredient trends [24][26] - The health market is expected to see significant growth, driven by younger consumers' changing attitudes towards wellness and preventive care [26][27] Supply Chain and Market Dynamics - The development of China's consumer market is driven by both consumer demand and strong supply chain capabilities [27][29] - The summit highlighted the need for brands to leverage digital transformation and marketing knowledge to enhance visibility and trust in the market [27] Recognition and Awards - The summit served as a platform for recognizing outstanding brands and innovative practices within the industry, reinforcing the importance of innovation in driving growth [35][36] - The "2025 Industry Internet Top Ten Brands" award was presented to companies demonstrating exceptional capabilities in product quality and supply chain stability [33][35]

Group 1 - The report emphasizes the importance of domestic demand as the primary driver for economic growth in 2026, with a focus on implementing consumption-boosting initiatives and enhancing the domestic market [11][12][13] - The contribution rate of domestic demand to economic growth from 2021 to 2024 is projected to be 86.4%, with final consumption accounting for an average contribution rate of 56.2% [12][13] - The report highlights the shift in the retail industry towards quality and service-driven growth, as discussed in the National Retail Innovation Development Conference [15][16] Group 2 - The North Exchange's consumer services sector saw a weekly increase of 0.44%, with food and beverage sector rising by 3.32% [25][31] - As of December 13, 2025, there are 25 companies related to the consumer services sector in the North Exchange's queue, with an average revenue of 1.242 billion yuan and an average net profit of 140.35 million yuan for 2024 [47][48] - Notable companies in the consumer services sector include Yizhi Moyu, which has a market value of 3.555 billion yuan and a net profit of 62.34 million yuan for 2025 Q1-Q3 [24][35] Group 3 - The Consumer Price Index (CPI) for November 2025 increased by 0.7% year-on-year, primarily driven by rising food prices [36][38] - The average wholesale price of pork is reported at 17.65 yuan per kilogram, while the average price of eggs is at 7.43 yuan per kilogram, reflecting market conditions [40][41] - The report indicates that the average price of fresh milk in major producing provinces is 3.02 yuan per kilogram, remaining stable compared to the previous week [46] Group 4 - The report outlines the significant sales performance during the "Double 11" shopping festival, with home appliances, digital devices, and clothing being the top three categories by sales volume [19][21] - The "Double 12" shopping event is set to further stimulate consumer spending, with various platforms launching promotional activities [18][22] - The report identifies 20 related stocks in the North Exchange for the "Double 12" event, covering categories such as home appliances, personal care, and food and beverages [23][24]

Future Marketing今年发布的《情绪消费崛起：2025年市场格局与未来走向》报告显示：2013年以来我国情绪消费相关产业年均复合增长率达12%，2025年 市场规模预计突破2万亿元。 在情绪消费全面爆发、热度创新高的2025年，曾因精准卡位情绪消费而风光无两的沃利科技（武汉）有限公司（即POLYVOLY），却倒在了这个冬天。 可能现在许多消费者没有听说过POLYVOLY，但它曾被称为"情绪个护鼻祖"，与完美日记（逸仙电商旗下品牌）都诞生于2016年，都经历过资本狂热催 熟的黄金时代，随后又陷入了增长停滞状态。 只不过，完美日记仍在活着且艰难自救，POLYVOLY已率先出局。2025年11月，武汉中院正式受理POLYVOLY破产清算申请。 POLYVOLY的处境，是众多高开低走的新锐品牌的缩影，成于流量，败于产品。在功能属性极强的个护领域想赚"情绪钱"，产品却无法持续满足消费者 的情绪。 情绪消费成就10亿价值 2016年，中国新消费浪潮蓄势待发。种草型小红书、分享型抖音开始崛起为流量新入口，为新品牌的发展提供了土壤。 同时，Z世代作为消费新势力登场，更愿意为"悦己体验"买单。而传统品牌的渠道固化与 ...

Investment Rating - The industry rating is "Outperform the Market" [7] Core Insights - The report emphasizes the upcoming peak season for tourism and cultural activities, highlighting the potential of combining IP with scenic spots and the ongoing popularity of the "Su Chao" theme in Jiangsu [3][4] - The report suggests focusing on brands with high terminal store efficiency and significant expansion potential in the gold and jewelry sector, as well as the growing demand for personal care products driven by innovation and emotional branding [5][6] - The medical beauty sector is expected to see market share gains among leading institutions due to refined operations and the upcoming release of new products in Q3 [5][6] Summary by Sections 1. Duty-Free and Scenic Areas - The tourism market in Hainan is thriving, with a 62% year-on-year increase in overall bookings for the summer of 2025 [11] - China Duty Free Group is expanding its presence in Macau with a new store opening [11] - Investment suggestions include focusing on duty-free operators and their city store openings, particularly China Duty Free, Wangfujing, and Lingnan Holdings [11] 2. Trendy Toys - The trendy toy sector is experiencing short-term volatility due to regulatory risks and price fluctuations in the secondary market, but long-term growth is anticipated as China's cultural products expand internationally [19] - In the first five months of 2025, the domestic online sales of trendy toys reached approximately 2.754 billion yuan, with a year-on-year growth of 61% [19][22] 3. Hotels - The hotel sector is seeing fluctuations in RevPAR due to the impact of the Dragon Boat Festival holiday, with a notable year-on-year decline in performance metrics [36] - Supply growth remains stable, primarily driven by lower-tier markets [40] 4. Education - The number of high school graduates is expected to remain high, maintaining competitive pressure in the education sector [42] - The number of college graduates is projected to reach 12.22 million in 2025, increasing demand for vocational training and exam preparation services [45] 5. Medical Beauty and Cosmetics - The medical beauty sector is recovering, with a focus on product innovation and market share expansion among leading companies [47] - The beauty sector is expected to see a rebound in sales during the 618 shopping festival, with total online sales reaching 855.6 billion yuan, a year-on-year increase of 15.2% [53][58] 6. Gold and Jewelry - Gold prices remain high, with retail sales in the gold and jewelry sector increasing by 21.8% year-on-year in May 2025 [82] - Investment recommendations include brands with strong terminal store performance and expansion potential, such as Chao Hong Ji and Lai Shen Tong Ling [86]

Core Viewpoint - The North American consumer market is undergoing significant changes, with traditional retail brands facing challenges while new consumer brands are rapidly emerging and capturing market share [3][4][7]. Group 1: Market Trends - Bubble Mart's LABUBU 3.0 has generated significant consumer interest, indicating a shift towards collectible fashion toys, contributing to a billion-dollar market [1][3]. - In 2024, Bubble Mart's revenue is projected to reach 13.04 billion yuan, with a market capitalization exceeding 230 billion yuan, and a staggering 895%-900% year-on-year growth in the Americas market [3]. - Traditional retail giants like Macy's and Forever 21 are closing stores, highlighting the decline of conventional retail models [3][4]. Group 2: Emerging Brands - Hims&Hers has seen a 69% year-on-year revenue increase, reaching $1.477 billion in 2024, with a gross margin exceeding 83% and a subscription user base of 2.2 million [9][20]. - Native, a personal care brand, has successfully captured the natural deodorant market, achieving over $100 million in revenue by focusing on natural ingredients and consumer preferences [29][34]. - W-Labs, founded by influencers, is redefining brand strategies by decoupling from individual influencer identities and focusing on broader brand narratives [43][44]. Group 3: Consumer Behavior - The Z generation, accounting for 26% of the North American population, is becoming the primary consumer group, prioritizing brand values and emotional connections over price [13][14]. - Hims&Hers has effectively addressed consumer pain points related to sensitive health issues, utilizing social insights and modern branding to resonate with younger audiences [15][19]. - Native's approach to market entry involved rapid testing and iteration based on consumer feedback, allowing for quick adaptation to market demands [31][34]. Group 4: Entrepreneurial Resilience - Chinese entrepreneurs in North America, like Velotric, are demonstrating agility and resilience by focusing on product quality and customer engagement rather than competing solely on price [5][54][60]. - GrubMarket pivoted from B2C to B2B during logistical challenges, showcasing adaptability in response to market conditions [58]. - Victoria Tsai's brand evolution reflects a shift towards modern interpretations of cultural heritage, resulting in a 23% revenue increase in 2024 [59][60].