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食品饮料周观点:白酒珍惜底部,大众品关注创新-20250907
GOLDEN SUN SECURITIES· 2025-09-07 08:20
证券研究报告 | 行业周报 gszqdatemark 2025 09 07 年 月 日 投资建议:1、白酒:供给持续变革,需求静待改善,估值底部保持乐观,建议关 注"优势龙头、红利延续、强势复苏"三条主线:1)短期边际变化弹性标的:泸 州老窖、港股珍酒李渡、舍得酒业、酒鬼酒、水井坊、老白干酒等。2)中长期经 营质量龙头标的:贵州茅台、五粮液、山西汾酒、古井贡酒、今世缘、迎驾贡酒 等。2、大众品:华润啤酒董事长履新,快乐猴首店开业,重点关注优秀成长个股: 1)高景气或高成长逻辑:盐津铺子、东鹏饮料、百润股份、燕京啤酒、珠江啤酒、 万辰集团、三只松鼠、有友食品等,港股卫龙美味等。2)政策受益或复苏改善: 青岛啤酒、海天味业、新乳业、伊利股份、重庆啤酒、安琪酵母、仙乐健康、百龙 创园、安井食品、立高食品、好想你等,港股农夫山泉、华润饮料、H&H 国际控 股等。 白酒:需求边际提振,出清加速珍惜底部。9 月 2 日,浙江绍兴出台政策补贴宴席 消费,其中餐饮消费上,对在酒店举办宴席且桌数 5 桌及以上且消费满 10000 元 的消费者给予补贴,按照酒店销售发票含税金额分档补助,最高不超过 5000 元, 我们认为一方面 ...
美即正义,K-POP闯美背后的 IP 文化经济学
3 6 Ke· 2025-05-13 23:43
Group 1 - The article highlights the rising global influence of K-POP, particularly through the success of groups like BLACKPINK, which have become prominent figures in the fashion industry, evidenced by their appearance at the 2025 Met Gala [1][3] - K-POP artists, including BTS and BLACKPINK, have become favored by major brands across various sectors, leading to collaborations and endorsements that enhance their commercial value [3][5] - Newer K-POP groups like NewJeans are also gaining traction with major brands such as Coca-Cola and McDonald's, indicating a trend where K-POP idols are leveraged for brand marketing [3][5] Group 2 - The emergence of K-Brand, which capitalizes on the popularity of K-POP, is evident with the opening of flagship stores like emis in China, showcasing the commercial potential of K-POP's influence [5][7] - The article discusses the evolution of K-Brand from merely using idol collaborations to establishing their own brand identities, focusing on unique marketing strategies and product designs [16][25] - K-Brand's success is attributed to a well-developed star-making system and the strategic packaging of idols, which enhances their appeal to both fans and brands [14][16] Group 3 - The article notes the rise of experiential marketing, such as idol experience venues, which allow fans to engage with K-POP culture in a commercial setting, further extending the influence of K-POP into consumer experiences [8][11] - The collaboration between BLACKPINK's Lisa and CELINE is highlighted as a significant example of how K-POP idols can drive substantial revenue growth for brands, with CELINE's revenue reportedly doubling from €1 billion to €2 billion [11][14] - The article emphasizes the importance of visual culture and branding in K-POP, where aesthetics play a crucial role in attracting consumers and enhancing brand recognition [27][30] Group 4 - The article discusses the increasing globalization of K-Brand, with Korean beauty brands achieving significant export growth, particularly in the U.S. market, which saw a 57% increase in imports of Korean cosmetics [25] - K-Brand's marketing strategies are evolving to incorporate cultural narratives and consumer psychology, allowing them to resonate with a broader audience beyond just K-POP fans [48][50] - The article concludes that the success of K-POP and K-Brand offers valuable lessons for other markets, particularly in leveraging cultural narratives and social media for brand engagement [49][50]