这是新消费智库第 2 7 3 8 期文章 新消费导读 1. 「 伊利」推出大蒜味乳饮料 2. 乐事推出全新春节限定系列 3. 屈臣氏推出 AI 设计的香港地标系列 4. 「喜茶」携手泡泡玛特 IP 星星人开启第二波联名 5. 伊利将推出 -196°C 速冻莓果味雪糕新品 6. 森林气泡水「冰爆小青柠」爆爽升级 7. 「农夫山泉」在山姆上新 纯透方冰 8. MANNER 推出冬季新品西柚热美式 9. 「古茗」门店开卖瓶装果汁 10. 徐福记请全国人民吃 1 亿颗糖 11. 京东发布全年龄段 AI 玩具 12. 东鹏饮料官宣闫妮代言 海岛椰 13. 奈雪霸气芝士草莓 10 年经典回归 ...... 一周新品 1. 「 伊利」推出大蒜味乳饮料 近日，伊利推出大蒜味乳饮料 优蒜乳，是优酸乳系列的全新创意口味产品。产品包装设计以紫绿撞色搭配夸张的卡通图案，还印有蒜了蒜了 都不容易 、 还是蒜了吧等趣味文案。 （ iBrandi 品创） 2. 乐事推出全新春节限定系列 近日，乐事推出全新的节庆产品与终端呈现，包装与陈列全链路升级。据称，春节限定系列引入功夫熊猫新年限定装的 IP 联名主题包装，以 节庆符号的视觉设计融入年 ...

证券研究报告 | 2025年12月30日 板块复盘：消费者服务板块报告期内上涨 6.28%，跑赢大盘 4.61pct。报告 期内（2025 年 12 月 15 日-2025 年 12 月 28 日），国信社服板块涨幅居前的 股票为中国中免（16.91%）、中教控股（13.76%）、科德教育、凯撒旅业、 首旅酒店、同道猎聘、君亭酒店、天立国际控股、桂林旅游、豆神教育。 行业与公司动态：海南全岛封关运作首周离岛免税购物金额即实现 11 亿 元，同比增长 54.9%，人均消费达 6667 元，同比增长 16%；上海浦东、 虹桥机场及北京首都机场免税店招标结果相继落地，中国中免成功连中 三标。亚朵持续推进产品迭代以提振经营效率，旗下新品"亚朵 3.6" 通过模块化建设实现筹建周期缩短 20%，首批门店 RevPAR 显著优于同商 圈酒店。临近元旦假期，旅游市场升温，2026 年元旦假期国内航线机票 预订量已突破 106 万张，同比增长约 45%；出入境航线预订量超 53 万张， 同比增长 15%。此外，氛围十足且活动丰富的主题乐园成为年轻人跨年 狂欢的又一选择。12 月 27 日至 28 日，东方甄选"看世界"团队赴 ...

证券研究报告 | 2025年12月30日 社会服务行业双周报（第 121 期） 优于大市 海南封关首周离岛免税销售额高增，东方甄选开启宜昌三峡行 板块复盘：消费者服务板块报告期内上涨 6.28%，跑赢大盘 4.61pct。报告 期内（2025 年 12 月 15 日-2025 年 12 月 28 日），国信社服板块涨幅居前的 股票为中国中免（16.91%）、中教控股（13.76%）、科德教育、凯撒旅业、 首旅酒店、同道猎聘、君亭酒店、天立国际控股、桂林旅游、豆神教育。 行业与公司动态：海南全岛封关运作首周离岛免税购物金额即实现 11 亿 元，同比增长 54.9%，人均消费达 6667 元，同比增长 16%；上海浦东、 虹桥机场及北京首都机场免税店招标结果相继落地，中国中免成功连中 三标。亚朵持续推进产品迭代以提振经营效率，旗下新品"亚朵 3.6" 通过模块化建设实现筹建周期缩短 20%，首批门店 RevPAR 显著优于同商 圈酒店。临近元旦假期，旅游市场升温，2026 年元旦假期国内航线机票 预订量已突破 106 万张，同比增长约 45%；出入境航线预订量超 53 万张， 同比增长 15%。此外，氛围十足且活 ...

Core Insights - The emergence of kale as a popular ingredient in the beverage industry marks a significant shift in consumer preferences, transforming a previously underappreciated vegetable into a trendy drink option [1][3][12] - The success of kale-based drinks, particularly through the "Super Plant Tea" series by Heytea, demonstrates the effectiveness of innovative product development in driving market trends and consumer engagement [5][13][24] Market Trends - The introduction of kale into tea beverages began in July 2024, with Heytea's "Champion Slimming Bottle" leading the charge, which quickly gained popularity and resulted in over 100 million cups sold within a year [3][12] - The trend has prompted other major tea brands, such as Nayuki and Suge Fresh Tea, to launch their own kale-infused products, indicating a widespread industry response to this new consumer demand [14][19] Consumer Behavior - The shift in consumer perception of kale from a health food to a desirable beverage reflects a growing trend among younger consumers who seek both enjoyment and health benefits in their drink choices [8][22] - The rapid sales growth of kale drinks, with Heytea's initial launch selling over 1.6 million cups in just ten days, highlights the strong market appetite for innovative health-oriented products [5][22] Supply Chain and Production - The rising demand for kale has led to significant changes in its cultivation practices in China, with an increase in domestic production to meet the needs of beverage manufacturers [24][26] - Heytea's commitment to quality has resulted in partnerships with high-standard farming bases to ensure the production of pesticide-free kale, reflecting a trend towards more sustainable and health-conscious sourcing practices [26][28] Industry Impact - The kale trend has not only revitalized the beverage sector but has also influenced retail and food industries, with various brands incorporating kale into their product lines, thus creating a "kale universe" [16][20] - The overall growth of the "Super Plant" category suggests a potential long-term shift in consumer preferences towards health-focused ingredients, positioning kale as a pioneer for future innovations in the beverage industry [28]

Core Insights - The beverage industry in China is undergoing a significant transformation, with retail channels like Hema and Sam's Club introducing "phenomenal" products that quickly capture market attention and social media trends [1][2] - The success of these products often does not translate to traditional retail channels, indicating a unique market dynamic where consumer behavior and brand positioning play crucial roles [1][2] Group 1: Market Dynamics - The emergence of popular products is influenced by a combination of consumer demographics, brand strength, supply chain capabilities, and social media impact, rather than just the product itself [2][5] - The target demographic for Hema and Sam's Club consists mainly of young middle-class consumers aged 25-45, primarily from first-tier and new first-tier cities, with annual household incomes exceeding 200,000 yuan [2][5] Group 2: Consumer Behavior - This demographic exhibits a "circle effect" in consumption, where products are seen as symbols of lifestyle rather than just functional items, leading to increased social sharing and brand loyalty [5][9] - Hema and Sam's Club have shifted their strategies from merely selling products to offering solutions that resonate emotionally with consumers, enhancing their market appeal [9][10] Group 3: Competitive Landscape - The success of Hema and Sam's Club's products is difficult to replicate due to their unique channel capabilities, supply chain efficiencies, and brand value, which are often lacking in imitators [10][13] - Imitators frequently fall into the trap of oversimplifying their strategies by merely copying product features without understanding the underlying consumer needs and market dynamics [10][13] Group 4: Future Implications - The beverage industry is transitioning from a focus on "traffic dividends" to "value dividends," emphasizing the importance of deep consumer insights, supply chain efficiency, and emotional connections with brands [13] - Companies that rely solely on low pricing without building unique value propositions will struggle to survive in the evolving market landscape [13]

Core Insights - The rise of kale as a popular ingredient in health-focused beverages reflects a shift in consumer preferences towards low-calorie and low-fat diets, driven by the trend of "light eating" and weight loss [1][2] - The price of kale has significantly increased from a few cents per pound to 3.5 yuan per pound, indicating its growing market value and demand [1] - The success of kale in the beverage market is attributed to continuous product innovation by tea brands, which have improved its taste and positioned it as a fashionable health product [2] Industry Trends - The health food market is characterized by three main trends: functional demand, scenario-based consumption, and social currency attributes [2] - The popularity of kale beverages exemplifies these trends, as tea brands have effectively addressed the taste issues associated with kale and created products that combine health benefits with trendy appeal [2] - The emergence of large-scale kale cultivation bases in regions like Shandong and Guangxi, utilizing modern greenhouse and organic farming techniques, ensures the stability of raw material quality [2] Market Dynamics - The rise of kale represents a quality revolution in China's consumer market, where consumers are increasingly seeking healthier and higher-quality lifestyles [2] - The innovation across the entire supply chain has led to the development of diverse products such as freeze-dried powder, composite fruit and vegetable juices, and snacks, enhancing product value and catering to various consumption scenarios [2] - Companies that can effectively capture and respond to these evolving consumer demands through continuous innovation are likely to gain a competitive edge in the market [2]