7月18日，2025辽宁夏日消费季暨大商集团大连啤酒嘉年华在星海广场盛大启幕。"欢聚山海，干杯大连"，7月18日至8月3日，星海广场将在万众瞩目之中化 作欢乐的海洋，流光摇曳的星海湾，啤酒泡沫比浪花还要欢。这场融合了大连城市特色与国际风情的狂欢盛宴，将以美酒、美食、音乐、文化与科技的多元 融合，引爆滨城夏日消费新热潮，为广大消费者献上一场难忘的夏日欢乐体验。 辽宁省商务厅副厅长郭斌致辞，强调当前辽宁正处于全面振兴新突破关键时期，上半年，全省消费保持良好态势，社会消费品零售总额增速已连续28个月高 于全国平均水平，为全省经济增长贡献了重要消费力量。下半年，全省消费将续写新篇，辽宁夏日消费季作为开篇之作，将进一步提振消费信心，激发消费 活力，惠民生、促消费，不断满足人民对美好生活的向往，为辽宁经济高质量发展注入新动力。作为重点商贸流通龙头企业代表，大商集团董事局副主席陈 德利先生发布促消费活动举措，将持续打造大商品牌，推出优质产品和服务，为消费者带来更多的实惠和惊喜。辽宁省 14 个市商务局负责同志推介发布本 地特色夏季促消费活动，向广大消费者发出盛情邀约。各方携手擘画，共同描绘辽宁夏日消费嗨购蓝图。 启动仪式结 ...

Summary of China Consumer Pulse 1Q25 Industry Overview - The report focuses on the **Chinese consumer market** and highlights the **fragile recovery** in consumer sentiment across various sectors, including **premium beverages**, **apparel**, **luxury goods**, **autos**, **travel**, and **home appliances** [2][30]. Key Insights 1. **Consumer Sentiment and Spending Trends** - Chinese consumer sentiment shows signs of a **fragile recovery** with **experiential spending** leading the way, particularly in **restaurant activity** and **travel** [30][32]. - **Restaurant app usage** increased by **26% YoY**, and travel during Chinese New Year and Qing Ming saw increases of **9%** and **6%** respectively [4][32]. 2. **Channel Performance** - **Digital channels** significantly outperform traditional retail, with **e-commerce beauty sales** growing by **12.7%** and **apparel platforms** by **14%** [2][32]. - Physical retail continues to struggle, indicating a stark divergence in channel performance [30]. 3. **Premium Segment Dynamics** - The **luxury goods** sector shows mixed signals, with consumers becoming more discerning and holding back on spending amid economic uncertainty [6][32]. - **Premium beverages** maintain stable pricing, while **high-end hotels** outperform the broader market [30][32]. - **Premium auto sales** have deteriorated significantly, down **13.5% YoY** [7][32]. 4. **Home Appliances and Export Strength** - The home appliance sector showed solid performance with **air conditioner shipments** growing **16% YoY**, primarily driven by strong export demand [11][12][32]. - Recent tariff announcements raise concerns about the sustainability of this growth [12][32]. 5. **Macroeconomic Factors** - Persistent **deflation** (-0.1% CPI) and escalating **trade tensions** contribute to cautious consumer behavior, with expectations of lower prices leading to delayed purchases [3][30]. - The **Q1 PMI** improved, but anticipated contraction in April indicates fragile business confidence [3][30]. 6. **Outlook and Risks** - The recovery remains fragile and vulnerable to reversal due to economic uncertainty, deflationary pressures, and escalating US-China trade tensions [30][32]. - Any acceleration in government stimulus could potentially support consumer spending [3][30]. Additional Insights - **Travel Industry**: The travel sector showed resilience with a **7%** growth in travelers, despite challenges in outbound travel due to incidents in Southeast Asia [9][23]. - **Cosmetics Sector**: Beauty eCommerce tracked companies showed a recovery with **Gross Merchandise Value** growing **12.7%**, but concerns about sustainability remain due to weak macroeconomic indicators [10][32]. - **Automotive Sector**: In Q1 2025, **EV sales** increased by **34.7% YoY**, with penetration reaching **46.1%**, indicating a strong shift towards electric vehicles [7][28]. This comprehensive analysis highlights the complexities and challenges within the Chinese consumer market, emphasizing the need for careful monitoring of economic indicators and consumer behavior trends.