于行业而言，要构建专业协同的产业生态。兴趣消费市场高度垂直、快速迭代且圈层属性鲜明，这 决定了其无法依赖传统的大规模、标准化生产与分销模式。唯有构建起从创意设计、柔性制造到圈层营 销、版权服务的支持体系，才能将小众创意快速转化为品质可靠、触达精准的商品。行业应以扎实的产 品质量和差异化设计，将流量带来的短期热度，转化为牵引产业高质量发展的厚实功力。 拓展多元兴趣消费供给的长远动能，更蕴藏于跨产业的深度融合之中。兴趣消费的核心是情感连 接，这使其天然具备打破产业壁垒、重构消费场景的潜力。当"宠物友好"激活传统商超、潮玩IP赋能主 题乐园、国风服饰带动文旅打卡……兴趣成为贯穿"体验链条"的主线。这种融合，本质上是以"兴趣"为 纽带，对传统产业要素进行重组与增值——它既为文旅、商业等存量场景注入了鲜活的流量与内容，也 为兴趣消费本身开辟了更广阔的落地空间与价值实现路径。既能创造新供给，也可满足新需求，实现供 给体系的扩容与升级。(本文来源：经济日报 作者：林语晋) 兴趣消费的兴起反映出部分消费选择正在超越实用考量，更多转向商品所承载的情绪价值、情感联 结与文化认同。新需求给供给侧提出了新课题：如何以"千品千面"的优 ...

Group 1 - New consumption concept stocks are generally rising, with notable increases in companies such as Pop Mart (up 7.82% to HKD 220.6), Shunmei (up 4.55% to HKD 88.45), and others [1] - The Ministry of Industry and Information Technology and five other departments issued a plan to enhance the adaptability of supply and demand for consumer goods, aiming for a significant optimization of the supply structure by 2027 [1] - The plan includes the development of three trillion-level consumption fields and ten hundred-billion-level consumption hotspots, focusing on high-quality consumer goods with cultural connotations [1] Group 2 - Upcoming holiday seasons, including Thanksgiving and Christmas, are expected to boost sales, with Pop Mart's sales data in the U.S. showing a return to high growth rates [2] - The company is anticipated to maintain strong sales growth during the holiday season, with increasing certainty of growth projected through 2026 [2] - Analysts believe that Pop Mart's stock price and valuation are likely to exhibit significant recovery momentum in the future [2]

Group 1 - The retail sector is showing active performance, with several companies in A-shares and Hong Kong stocks experiencing significant gains, indicating a positive market sentiment [1] - The Ministry of Industry and Information Technology, along with other governmental bodies, has issued a plan to enhance the adaptability of supply and demand in consumer goods, aiming to stimulate consumption [2][3] Group 2 - The plan outlines goals for 2027, including the optimization of the consumer goods supply structure, the formation of three trillion-level consumption fields, and ten hundred-billion-level consumption hotspots [5] - By 2030, a high-quality development pattern characterized by positive interaction between supply and consumption is expected to be established, with a steady increase in consumption's contribution to economic growth [5] - The plan emphasizes the expansion of diverse interest consumption supplies, particularly in areas such as pet-related products, anime, and trendy toys, reflecting a shift in consumer preferences towards emotional and experiential purchases [5] - The emotional economy in China is projected to grow significantly, with the market size expected to reach approximately 23 trillion yuan in 2024 and exceed 45 trillion yuan by 2029, highlighting the importance of emotional consumption in driving market growth [6] - The pet economy is anticipated to reach a scale of 701.3 billion yuan in 2024, with a year-on-year growth of 18.3%, and is expected to grow to 1.15 trillion yuan by 2028 [6] - The trendy toy industry in China is valued at around 60 billion yuan in 2023, with projections to reach 110.1 billion yuan by 2026, indicating a robust annual growth rate of over 20% [7] - The ongoing policy support and rapid market demand expansion in sectors like pet economy and trendy toys are expected to accelerate growth, presenting new opportunities for retail companies [7]

Core Viewpoint - The implementation plan aims to enhance the adaptability of consumer goods supply and demand, promoting consumption as a driver of economic growth by optimizing supply structures and creating new consumption scenarios [1][6]. Group 1: Supply and Demand Adaptability - The plan outlines 19 key tasks focusing on expanding new consumption, tapping into existing markets, and targeting niche markets [1][7]. - It emphasizes the importance of new technologies and innovative models in industries such as smart vehicles, smart home products, and consumer electronics [2][6]. Group 2: New Consumption Scenarios - The plan encourages the development of new consumption scenarios, including interest-based products like pet supplies and anime merchandise, while also promoting low-altitude tourism and automotive aftermarket services [4][6]. - It supports the establishment of flagship stores and new concept stores to enhance consumer experience and engagement [4][6]. Group 3: Targeted Product Development - The plan aims to enhance product offerings for specific demographics, including children and the elderly, by promoting high-quality, intelligent, and customized products [7][8]. - It encourages the development of health-related products and services, integrating traditional medicine with modern health management [3][7]. Group 4: Shared Consumption - The plan outlines directions for shared consumption, including the promotion of shared bicycles and other mobility solutions in public spaces [5][6]. - It emphasizes the need for quality certification systems for shared products to ensure safety and reliability [5][6].

Core Viewpoint - The recent government policies aim to enhance consumer demand and supply adaptability, leading to new growth opportunities in the consumption sector by 2027 and beyond [1][2]. Group 1: Policy Implementation and Goals - The implementation plan aims for a significant optimization of the consumer goods supply structure by 2027, creating three trillion-level consumption fields and ten hundred-billion-level consumption hotspots [1]. - By 2030, a high-quality development pattern characterized by positive interaction between supply and consumption is expected to be established, with a steady increase in consumption's contribution to economic growth [1]. Group 2: Consumer Trends and Innovations - The plan emphasizes the development of diverse interest-based consumption products, including pet-related goods, anime, and trendy apparel, while also expanding low-altitude tourism and automotive aftermarket consumption [1][2]. - The rise of new business models such as live-streaming e-commerce and instant retail is highlighted as a key factor in meeting personalized consumer demands [2]. Group 3: Market Performance and Economic Indicators - Recent data indicates a recovery in the consumption market, with core CPI rising by 1.2% year-on-year in October, marking the sixth consecutive month of increase, and PPI showing a slight uptick [2]. - The performance of traditional consumption sectors, including food and beverage, liquor, and e-commerce, has been notably strong, providing fundamental support for consumption stocks [2]. Group 4: Investment Opportunities in Consumer Sector - Analysts recommend focusing on the hotel and duty-free industries, which are showing signs of recovery and growth potential due to favorable policies [3]. - Five major consumption trends are identified for investment opportunities in 2026, including the rise of high-quality domestic brands and the increasing demand for emotional consumption [3]. Group 5: Company-Specific Insights - Huazhu Group's strong performance in Q3, with revenue and net profit exceeding expectations, is attributed to its robust membership system and rapid expansion [4]. - Ctrip Group is expected to maintain steady domestic growth while continuing to expand internationally, supported by increased investment returns [5]. - BYD's projected annual profit growth rate of 30% from 2025 to 2028 highlights its confidence in long-term overseas expansion despite uncertainties in the domestic market [5]. - Haier Smart Home reported a 10% year-on-year revenue increase in Q3, driven by product innovation and direct sales transformation [6]. - Pop Mart's significant revenue growth of 245-250% in Q3 reflects its successful global expansion and strong IP ecosystem [6].

Core Viewpoint - The implementation plan aims to enhance the adaptability of consumer goods supply and demand, promoting consumption and achieving a dynamic balance by 2027 and establishing a high-quality development pattern by 2030 [1][6]. Group 1: Key Tasks and Focus Areas - The plan outlines 19 key tasks focusing on expanding new consumption, deepening existing consumption, and targeting niche markets through innovation in new technologies and models [1][6]. - Emphasis is placed on accelerating the application of new technologies in key industries such as smart connected vehicles, smart home, consumer electronics, and modern textiles [3][4]. - The initiative includes promoting flexible and customized manufacturing, establishing a digital system from user demand to intelligent design and flexible production [3][4]. Group 2: Consumer Segments and Product Development - The plan targets specific consumer segments, including children and the elderly, promoting the development of high-quality, intelligent, and customized products [8][9]. - For the children’s market, there is a focus on enhancing the supply of feeding, travel, outdoor, and educational products, alongside safety measures for children's products [8]. - In the elderly market, the plan encourages the development of products such as care robots, multifunctional nursing beds, and health monitoring devices to improve quality of life [8]. Group 3: New Consumption Scenarios - The plan aims to cultivate new consumption scenarios by promoting interest-based products such as pet-related goods, anime, and trendy fashion items [5][6]. - It supports the development of low-altitude tourism and private flying experiences, as well as the automotive aftermarket, including car modifications and RV camping [5]. - The initiative encourages the establishment of flagship stores and new concept stores to enhance consumer experience and promote product launches [5][6]. Group 4: Shared Consumption and Quality Standards - The plan outlines directions for shared consumption, including the promotion of shared bicycles and wheelchairs in public spaces, along with establishing quality certification systems for shared products [6][7]. - It emphasizes the importance of creating a comprehensive system that connects new supply with new demand through 19 specific tasks [6][7].

Core Viewpoint - The implementation plan issued by six departments, including the Ministry of Industry and Information Technology, aims to enhance the adaptability of supply and demand in consumer goods and further promote consumption [1] Group 1: Expansion of Diverse Consumption Supply - The plan emphasizes the development of interest-based consumption products such as pet-related items, anime merchandise, trendy clothing, and toys [1] - It encourages the orderly expansion of low-altitude tourism, aviation sports, private flying, and consumer-grade drones, ensuring safety and risk control [1] Group 2: Automotive Market Development - The initiative aims to expand the automotive aftermarket by promoting car modifications, RV camping, and automotive events [1] - It supports the high-quality development of car rental services [1] Group 3: Intellectual Property and Brand Development - The plan encourages companies to incubate local intellectual property (IP) and innovate in designing cultural and creative products, as well as anime-related merchandise [1] - It promotes brand licensing and the launch of series of IP-licensed products [1] Group 4: Retail Environment Enhancement - The initiative encourages traditional supermarkets, shopping centers, and commercial streets to redesign and introduce "valley stores" or collective trendy toy stores [1]

Core Insights - The Ministry of Industry and Information Technology, along with five other departments, has issued a plan to enhance the adaptability of supply and demand in consumer goods, aiming to further promote consumption [1] Group 1: Expansion of Diverse Consumer Offerings - The plan emphasizes the development of interest-based consumer products, including pet-related items, anime merchandise, and trendy clothing and toys [1] - There is a focus on expanding low-altitude tourism, aviation sports, private flying, and consumer-grade drones, while ensuring safety and risk control [1] Group 2: Automotive and IP Development - The initiative aims to expand the automotive aftermarket by promoting car modifications, RV camping, and automotive events, as well as supporting the high-quality development of car rentals [1] - It encourages companies to incubate local intellectual property (IP), innovate in cultural and creative product design, and develop brand licensing, including a series of IP-licensed products [1] Group 3: Retail Environment Enhancement - The plan advocates for the redesign and transformation of traditional supermarkets, shopping centers, and commercial streets to incorporate "valley stores" or collective trendy toy shops [1]