Core Viewpoint - The new consumption sector has emerged strongly in the market this year, becoming a focal point after a period of stagnation in the consumer sector [1] Group 1: Definition of New Consumption - New consumption is a relative concept that focuses on fulfilling people's spiritual needs, contrasting with traditional consumption that meets material needs [2] - New consumption emphasizes personalization and experience, while traditional consumption prioritizes practicality and product quality [3] Group 2: Segments of New Consumption - The "Guzi Economy" includes merchandise derived from copyrights of comics, animations, games, and idols, with a market size projected to reach 168.9 billion yuan in 2024, growing at 40.6% year-on-year [5][6] - The ready-to-drink tea market is expected to reach 312.7 billion yuan in 2024, reflecting a growth of 20.97% compared to the previous year [7] - The pet economy is projected to reach 300.2 billion yuan in 2024, with a year-on-year growth of 7.5% and a compound annual growth rate of 9.9% from 2018 to 2024 [7] - The "Guochao Gold" sector integrates elements of Eastern aesthetics and cultural identity, catering to young consumers' desires for individuality and fashion [7] Group 3: Reasons for Popularity of New Consumption - The rise of the Z generation as the main consumer group, coupled with their optimistic outlook on consumption, has driven the popularity of new consumption [8] - Changing consumer psychology emphasizes emotional value and personalization, leading to a preference for unique and resonant experiences [8] Group 4: Performance of New Consumption Sector - The "three stars" of Hong Kong stocks, including brands like "Mao Mart," "Golden Shop," and "Snow Ice City," have seen significant stock price increases of 268.19%, 1144.26%, and 81.38% respectively since their listings, outperforming the Hang Seng Index [8] Group 5: Future Investment Prospects - China's consumer market is vast, with a projected retail sales total of 48.8 trillion yuan in 2024, contributing 44.5% to economic growth [14] - Recent policies have been introduced to support the transformation of consumption, including measures to promote new consumption scenarios and high-quality service consumption [14][15] - The export potential of new consumption sectors, such as the pet industry, is significant, with exports to the EU expected to reach 1.12 billion USD in 2024, leading to greater growth opportunities [15]

Core Insights - The 15th Jewelry Festival organized by Suning is launched nationwide, featuring a month-long event with significant subsidies and cross-industry collaborations to enhance consumer experience [1] Group 1: Event Overview - The Jewelry Festival commenced with a preheating phase in early August, coinciding with key shopping dates like 818 and the Qixi Festival, aiming to create a unique jewelry shopping experience for consumers [1] - The event includes the "Platinum Museum 2.0," which showcases the latest practices in collaboration with the International Platinum Group, emphasizing the theme of "Platinum in Focus, Resilient Love Coexist" [2] Group 2: Exhibition Highlights - The Platinum Museum features innovative designs and craftsmanship, including new series such as the Platinum Ice Silk Craft and the Platinum French Lily series, showcasing the unique charm and resilience of platinum jewelry [10] - The exhibition also includes participation from major jewelry brands like Chow Tai Fook and Lao Miao Gold, providing a diverse selection for consumers [10] Group 3: Consumer Engagement - During the Qixi Festival, the Platinum Museum incorporates interactive elements like a poetry display area to enhance emotional engagement and create a romantic atmosphere for visitors [7] - Suning collaborates with Luk Fook to create a "New Jewelry World" exhibition area, focusing on personalized and tech-savvy consumer demands, along with hosting fashion salons and master craftsperson interactions [12] Group 4: Marketing Strategies - The festival employs a multi-faceted marketing approach, including product updates, consumer discounts, and exclusive member services, aiming to establish a strong consumer mindset towards purchasing jewelry at Suning [19] - Creative marketing initiatives, such as a nationwide cord-making competition, engage consumers and showcase traditional cultural elements while enhancing brand visibility [22] Group 5: Future Directions - Suning plans to continue adapting to consumer trends, deepen industry collaborations, and enhance service quality to create innovative shopping experiences and explore new possibilities in the jewelry market [27]