人民日报记者 王观 洪秋婷 王崟欣 免税店又要"上新"了—— 前不久，财政部等部门印发的《关于完善免税店政策支持提振消费的通知》（以下简称《通知》） 正式实施，从支持国内商品进店销售、扩大免税店经营品类、放宽免税店审批权限、完善免税店便利化 和监管措施等方面细化举措，进一步加大免税店对出入境旅客购物消费的吸引力。 9月，成都首家市内免税店开业，既引入了国际一线品牌，又融合了川酒、三星堆文创、熊猫国潮 等本地特色；11月，西安市内免税店与消费者见面，标志着西安乃至西北地区的免税消费场景迎来了新 突破；同样在11月，天津首家市内免税店正式投入运营，采用"免税+有税""进口+国产""线下+线上"的 经营模式，同步设有离境退税业务…… 大力发展市内免税店，不仅能有效提升游客购物便利度，还能成为拉动城市旅游的"招牌菜"，吸引 更多游客，进而带动相关产业发展。 聚焦持续提升旅客免税购物体验，《通知》提出了多项务实举措。比如，支持口岸出境免税店、口 岸进境免税店和市内免税店提供网上预订服务，允许旅客在市内免税店预订后在口岸进境免税店提货。 从手机、微型无人机、运动用品、保健食品到老字号产品、文创产品、非遗产品，更多便于携带 ...

成为拉动城市旅游的"招牌菜""新坐标" 走进免税店看消费新潮流 免税店又要"上新"了—— 前不久，财政部等部门印发的《关于完善免税店政策支持提振消费的通知》（以下简称《通知》） 正式实施，从支持国内商品进店销售、扩大免税店经营品类、放宽免税店审批权限、完善免税店便利化 和监管措施等方面细化举措，进一步加大免税店对出入境旅客购物消费的吸引力。 从手机、微型无人机、运动用品、保健食品到老字号产品、文创产品、非遗产品，更多便于携带的 消费品被纳入经营范围，更多能体现中华优秀传统文化的特色优质产品将走进免税店。 新政策实施一个多月以来，各地有哪些亮点？免税店引领消费新潮流，还有什么值得期待？记者近 日进行了采访。 市内就能买到免税商品，"网上预订+线下提货"更方便 "不用提前几个小时去机场匆忙抢购，可以在市区里悠闲地挑、仔细地选，而且东西也很划算，这 种体验非常好。"今年8月，广州首家市内免税店正式开门迎客，吸引了不少消费者。因其坐落于天河区 CBD核心地带的广州友谊商店（国金店），地理位置优越，一开业就人头攒动，十分热闹。 市内免税店，相较位于机场的口岸出境免税店，在位置上更加便利。去年，财政部等部门印发《关 于完 ...

Group 1 - The core point of the article is that Jala Group, known for its brand Naturals, is facing significant challenges despite its upcoming IPO, including weak performance, low profit margins, and heavy reliance on marketing over research and development [1][11][12] - Jala Group's revenue growth has been sluggish, with projected revenues of 42.92 billion, 44.42 billion, and 46.01 billion from 2022 to 2024, reflecting an average annual growth rate of only about 3.5%, significantly lower than the overall growth rate of the domestic beauty industry [4][5][7] - The company's net profit margins are low, with figures of 3.24%, 6.80%, and 4.13% from 2022 to 2024, and only reaching 7.81% in the first half of 2025, indicating operational inefficiencies and cost structure issues [7][8][9] Group 2 - Jala Group has heavily invested in marketing, with sales and marketing expenses reaching 24.45 billion, 24.06 billion, and 27.16 billion from 2022 to 2024, accounting for over 54% of annual revenue, yet this has not translated into significant revenue growth [8][9][10] - The company's research and development spending has decreased, with R&D expenses dropping from 1.2 billion in 2022 to only 0.4 billion in the first half of 2025, resulting in a declining R&D expense ratio from 2.8% to 1.7%, which is well below the 3%-5% standard of international beauty giants [9][10][11] - Jala Group's over-reliance on its core brand Naturals is evident, with revenue contributions from this brand accounting for 94.6%, 95.9%, and 95.4% from 2022 to 2024, indicating a lack of effective growth from its other brands [10][11][12] Group 3 - The company is struggling to transition to a high-end market, with attempts to launch premium products failing to resonate with consumers, as evidenced by poor sales of its high-priced Gold Diamond Micro-sculpting series [11][12][13] - Jala Group's governance structure raises concerns, as the founding family's control over 87% of voting rights may hinder strategic flexibility and professional decision-making, especially in an industry that increasingly values scientific research and data-driven approaches [12][13][14] - The upcoming IPO represents a significant milestone for Jala Group, but achieving a true high-end brand status requires overcoming challenges related to brand dependency, marketing-heavy strategies, and governance issues [13][14]

Core Insights - The essence water category is becoming a strategic focus for brands, with international giants like Lancôme and Estée Lauder launching new products to redefine skincare [1][2][3] - The market for essence water is rapidly growing, with online sales nearing 10 billion yuan in the first half of this year, marking it as one of the fastest-growing segments in facial care [1][7] Group 1: Brand Strategies - Major brands are investing in the development of essence water, which is positioned between toners and serums, offering multiple benefits such as anti-aging and skin repair [2][3] - International brands like Estée Lauder and Lancôme are targeting younger consumers by offering entry-level high-end products at competitive prices, such as Lancôme's "Little Black Bottle Essence Water" priced at 595 yuan for 150ml [3][6] - Essence water serves as a "universal key" that can enhance the entire skincare routine, facilitating cross-selling opportunities across product lines [6][7] Group 2: Market Trends - The essence water market is projected to grow at a compound annual growth rate of 9.2% from 2026 to 2033, indicating strong future demand [7][8] - Young consumers, particularly those aged 18-24, are increasingly drawn to essence water, with this demographic accounting for over 30% of the category's popularity on platforms like Xiaohongshu [7][9] - The core consumer demands for essence water include multi-functionality, proven efficacy, and sustainability, reflecting a shift in consumer expectations [8][10] Group 3: Domestic Brand Strategies - Domestic brands are responding to international competition by focusing on technology, efficacy, cost-performance ratio, and specific usage scenarios [11][12] - Brands like HBN are establishing their technological foundations and focusing on precise efficacy to differentiate themselves in the market [12][13] - The emphasis on cost-performance ratio allows domestic brands to attract price-sensitive consumers while maintaining product quality [15][16] Group 4: Marketing and Consumer Engagement - Chinese brands are integrating their products into popular skincare routines and scenarios, enhancing consumer interaction and increasing sales opportunities [17][18] - The competition in the essence water market is not just about product features but also about building trust and loyalty through genuine value and scientific backing [18][19]

Core Viewpoint - The essence water market is rapidly evolving, with both international and domestic brands launching new products to capture consumer interest and meet the rising demand for multifunctional skincare solutions [2][4][19]. Market Trends - Major international brands like Lancôme and Estée Lauder are actively launching new essence water products, indicating a strategic focus on redefining skincare beginnings [2][5]. - The online essence water market has approached a scale of nearly 10 billion yuan in the first half of this year, marking it as one of the fastest-growing segments in facial care [2]. Product Characteristics - Essence water is positioned between toner and serum, offering high functionality with active ingredients and advanced penetration technology, addressing multiple skincare needs beyond basic hydration [4][7]. - The introduction of advanced technologies has significantly enhanced the performance of essence water in anti-aging, brightening, and repairing, leading to a shift in pricing towards the premium segment [7][19]. Consumer Insights - Consumers are increasingly seeking products that deliver multiple benefits, clear efficacy mechanisms, and sustainable practices, with a notable interest from younger demographics [14][15][16]. - The demand for essence water among consumers aged 18-24 is particularly high, with this group accounting for over 30% of the market [13]. Competitive Strategies - International brands are lowering entry barriers for younger consumers by offering essence water as an "entry-level premium product" at competitive prices [8][11]. - Brands are also leveraging essence water to drive sales across their entire product lines, enhancing cross-selling opportunities [11][19]. Domestic Brand Response - Chinese brands are focusing on building technological capabilities and differentiating their products through precise efficacy targeting and competitive pricing [19][23]. - Brands like HBN are investing in research to establish a technological moat, while others are developing unique formulations to cater to specific consumer needs [19][20][21]. Future Outlook - The essence water market is projected to grow at a compound annual growth rate of 9.2% from 2026 to 2033, indicating strong future potential [13]. - The competition in the essence water segment is expected to intensify, with brands needing to focus on genuine consumer needs and technological advancements to succeed [26].