文 | 雷报 田野 编辑 | 努尔哈哈赤 在整体消费环境下行的压力下，实体商业的转型焦虑持续加剧。与此同时，随着新一代消费者逐渐成为市场主力，他们 的需求与偏好正成为行业共同聚焦的核心方向。在此背景下，越来越多线下商业开始通过引入网红餐饮、IP快闪、二次 元谷店，或打造潮流街区、艺术展览、沉浸式剧场等新兴业态，以吸引年轻客群，寻求破局之道。 而在这场年轻化转型浪潮中，除了不同定位的购物中心外，规模更小的零售与餐饮细分业态——如文具店、杂货店、便 利店，以及奶茶店、火锅店等也都纷纷入局，通过主动拥抱年轻消费市场实现逆势增长。例如昨日，雷报在《暑期档57 起联名，34亿营销费，新茶饮们还"卷"得动吗？》一文中就特别统计主要现制饮品品牌暑期的IP联名情况。 本文，雷报则将视角转至同咖啡茶饮一样，遍布城市各个角落的另一线下零售业态——便利店，去看看我国连锁便利店 行业年轻化转型的最新进展与实际情况。 年内IP联名28+起，便利店正成为年轻人新的"情绪消费"打卡地？ 中国连锁经营协会（CCFA)今年4月发布的《2024年中国便利店TOP100》榜单显示，2024年，中国连锁便利店TOP100 品牌门店数合计为19.6万 ...

Core Insights - The film industry has shown significant profitability in the first half of the year, with major companies like Wanda Film and Light Media reporting substantial net profit increases of 372.55% and 371.55% respectively [1][3] - The growth in profits is attributed not only to blockbuster films but also to optimized non-ticket business operations, cost control, and improved operational efficiency [1][5] - The competition in the film industry has evolved from content-based competition to a focus on comprehensive operational capabilities, with companies that can integrate industry chains and innovate business models expected to have a competitive edge in the future [9] Group 1: Box Office Performance - The total box office revenue for the first half of the year reached 29.231 billion yuan, with 641 million moviegoers, marking year-on-year increases of 22.91% and 16.89% respectively [3] - Domestic films accounted for 91.2% of the box office, with the film "Nezha: Birth of the Demon Child" contributing over 15.4 billion yuan, representing a significant portion of the total box office [3] - Wanda Film reported a domestic box office of 4.21 billion yuan, a year-on-year increase of 19.2%, with 82.39 million attendees, up 9.6% [3] Group 2: Business Optimization - Companies are enhancing their business models by optimizing consumption scenarios, improving sales conversion rates, and expanding external channels [6] - Wanda Film has upgraded its sales strategies through social media and live streaming, while also focusing on self-developed products and eliminating underperforming items [6] - Golden Screen Cinemas reported a 48% increase in sales of new beverage products and a 178% increase in light food sales, indicating a successful expansion of their product line [6][8] Group 3: Cost Control - Cost control measures have been crucial for maintaining profitability, with Golden Screen Cinemas reporting reductions in various operational costs, including travel and marketing expenses [8] - The company has optimized energy usage and maintenance costs, leading to a 5.82% decrease in overall operating costs [8] - The focus on innovative business models, such as "Cinema+" and "Space+", aims to enhance operational efficiency and revenue generation [8] Group 4: Future Outlook - The market is expected to experience a slowdown post-summer, but the upcoming National Day holiday may drive new growth [8] - Major companies like Wanda Film and Light Media are likely to maintain strong performance through participation in key projects, while less competitive firms may continue to face challenges [8][9]

Core Insights - The report indicates that the "old-for-new" subsidy has been steadily implemented, leading to a sustained high growth trend in the production and sales of new energy vehicles, with listed companies' net profit growth exceeding 30% [1] - The trend of upgrading home appliances to "smart" devices is evident, with both industry revenue and net profit growth surpassing 9% [1] - The acceleration of domestic substitution in the consumer electronics sector has resulted in a revenue growth of 24.82% for the industry [1] - Cultural consumption demand has been released, with representative industries such as gaming and film box office experiencing revenue growth, and net profit growth exceeding 70% [1] - The total logistics volume in society has steadily increased, with enhanced logistics activity among residents, leading to a 10% revenue growth for five listed companies in the express delivery sector [1] - New emotional consumption scenarios, such as the pet economy and IP economy, have ignited enthusiasm among the younger demographic, with related industry listed companies showing significant performance growth, with net profit increases of 40.29% and 54.90% respectively [1]

Core Insights - The growth of the food delivery brand "Super Bowl" is primarily driven by an increase in delivery penetration rates, leading to a significant rise in orders [2][10] - The overall food delivery market is experiencing a surge, with major platforms like Meituan and Taobao contributing to this growth through promotional activities [4][10] - The shift in consumer behavior towards more frequent ordering is expected to solidify brand differentiation as users become more discerning about quality [6][9] Group 1: Market Dynamics - The introduction of flash sales on major e-commerce platforms has attracted more users to the food delivery market [4] - Recent subsidy incentives have led to increased ordering frequency among existing delivery users [5] - The overall daily order volume in the industry has surpassed 200 million, marking a new era in food delivery [10] Group 2: Brand Performance - Brands like Super Bowl are experiencing significant profit growth despite a decline in average order value due to increased order volume [11] - The impact of low-price promotions is particularly pronounced in beverage categories, which have high demand elasticity [12][13] - Fast food brands, unlike beverage brands, are less affected by extreme low-price competition, as their demand is more stable [15] Group 3: Industry Trends - The current food delivery competition is not an isolated phenomenon; many brands are benefiting from the recent surge in delivery orders [16] - The number of registered merchants on major platforms has increased significantly, indicating a growing interest in the food delivery market [17] - The trend of increasing delivery order ratios is expected to continue, especially for brands that adapt to consumer preferences [22] Group 4: Strategic Adjustments - Brands are encouraged to iterate their store models to better align with the growing trend of online consumption [27] - The concept of opening stores in prime locations but at less competitive spots is emerging as a strategy for brands to optimize costs [28][30] - Adjusting product offerings to focus on items suitable for delivery can enhance sales performance in the evolving market [35][39] Group 5: Long-term Outlook - The integration of online and offline consumption is seen as a significant trend that will reshape the industry, similar to the rise of e-commerce [54][75] - The market for instant retail is projected to grow substantially, with estimates suggesting a compound annual growth rate exceeding 25% over the next five years [74] - Brands that successfully navigate this transformation will likely emerge as the new winners in the market [78]

Core Insights - The report highlights that emotional consumption is becoming a dominant trend among young consumers, with 88.2% of them experiencing stress and over 60% believing that consumption can alleviate this stress [1][10][24] - Young consumers are increasingly prioritizing emotional satisfaction over functional needs, with nearly 30% of their spending directed towards interests and hobbies [1][16][24] - The rise of "emotional goods" aligns with Maslow's hierarchy of needs, as higher-level needs such as belonging, esteem, and aesthetics drive this shift in consumption behavior [1][16][24] Emotional Consumption Trends - Five distinct emotional consumer groups have been identified: - "Mad Master" who express rebellion through abstract products [2][38] - "Reward Personality" who indulge themselves with items that have a sense of ritual [2][51] - "Crispy Energy Saver" who use quirky items to cope with fatigue [2][61] - "Mysticism Enthusiast" who seek psychological comfort through spiritual items [2][62] - "Novelty Seeker" who are attracted to bizarre products [2][64] Market Growth Potential - The emotional consumption market in China is projected to experience significant growth, with an expected market size of over 2 trillion yuan by 2025 [26][28] - Related industries such as trendy toys, pets, cultural tourism, and food are witnessing substantial annual growth rates, indicating a robust market environment [24][28] Consumer Behavior Insights - Young consumers are increasingly willing to pay a premium for emotional value, with 90% expressing a readiness to spend more for emotional satisfaction [23][30] - The trend of "quick emotional recharge" is evident, as young consumers favor easily accessible products that provide instant gratification, such as stress relief toys and quirky collectibles [1][31][34] Social Media Influence - Platforms like Douyin (TikTok) play a crucial role in shaping emotional consumption trends, with significant engagement on topics related to stress relief products, indicating a strong demand for quick emotional fixes [1][31][34]

Group 1 - The first Shanghai International Animation Month will be held from July 4 to August 10, featuring three major events: CCG EXPO, Bilibili World, and ChinaJoy, marking a significant collaboration in the animation industry [1] - Bilibili World is a large offline event hosted by Bilibili, a popular platform among young people, and is one of the most influential events in the ACG (Anime, Comic, and Games) culture in China [1] - CCG EXPO is one of the largest comprehensive animation and gaming exhibitions in China, while ChinaJoy is recognized as a top-level event in the digital entertainment industry, covering various sectors including gaming, animation, and e-sports [1] Group 2 - Open-source Securities indicates that the summer gaming operations, new animated films, and various exhibitions will likely boost sales of related IP peripherals and trendy toys, signaling the arrival of the summer entertainment consumption peak [1] - A report from Xiaohongshu highlights that the top three reasons for consumer purchases in the post-pandemic era are functional needs, self-pleasure, and showcasing taste/personal style, with product quality and emotional value being key decision factors [1] - According to a report by Soul App, among the top spending categories for young consumers during the Double Eleven shopping festival, cultural blind boxes, IP-related consumption, and ACG-related products occupy three positions [2] Group 3 - Shunwang Technology is identified as the organizer of ChinaJoy, indicating its active role in the industry [3] - Aofei Entertainment is noted for its deep involvement in the entire IP industry chain, reflecting its comprehensive strategy in the market [4]

Group 1 - The Hong Kong stock consumer sector has shown remarkable growth this year, led by new consumption forces such as trendy toys, IP economy, and beauty products, reflecting a shift in consumer behavior among the younger generation who prioritize emotional value in their purchases [1] - As of June 16, 2023, stocks like Pop Mart, Mixue Ice City, and Lao Pu Gold have seen significant price increases, with Pop Mart rising 205%, Lao Pu Gold increasing 296%, and Mixue Ice City up nearly 90% year-to-date [1] - The "self-pleasure economy" driven by 260 million Chinese Gen Z consumers (born between 1995-2009) is reshaping consumption patterns, with over 40% of young consumers making purchasing decisions based on emotional value [1] Group 2 - The Hang Seng Consumer Index (HSCGSI.HK) and the Hong Kong Stock Connect Consumer Index are the two main indices for investing in the Hong Kong consumer sector, with the latter including the CSI Hong Kong Stock Connect Consumer Theme Index and the Guozheng Hong Kong Stock Connect Consumer Theme Index [2] - As of June 16, 2023, the three major indices have shown year-to-date performance, with the Guozheng Hong Kong Stock Connect Consumer Index up 23.87%, the CSI Hong Kong Stock Connect Consumer Theme Index up 21.32%, and the Hang Seng Consumer Index up 10.62% [3] - The Hang Seng Consumer Index focuses on essential consumer sectors, showing a lower risk of 31.12% compared to the other two indices, which have risks of 37.54% and 32.82% respectively [3] Group 3 - Three ETFs closely track the Hang Seng Consumer Index, with year-to-date returns of 10.54%, 9.39%, and 9.99% respectively, and a total net inflow of 12.27 billion, 7.31 billion, and 0.09 billion [5] - The CSI Hong Kong Stock Connect Consumer Theme Index includes major internet technology companies, with top holdings like Alibaba and Tencent, making it suitable for investors looking for a blend of consumption stability and technology growth [5] - Four ETFs track the CSI Hong Kong Stock Connect Consumer Theme Index, with year-to-date returns ranging from 18.53% to 20.08% and total net inflows between 1.58 billion and 4.37 billion [7] Group 4 - The Guozheng Hong Kong Stock Connect Consumer Theme Index, which includes diverse new consumption sectors such as jewelry, beauty, trendy toys, and dining, has shown a strong performance with a year-to-date increase of 23.87% [7] - The newly established ETFs tracking the Guozheng Hong Kong Stock Connect Consumer Theme Index are aimed at investors looking to capitalize on the consumption trends driven by Gen Z [9] - For conservative investors, the Hang Seng Consumer Index and its ETFs are recommended for their defensive characteristics, while those seeking a balanced exposure to technology and consumption may consider the CSI Hong Kong Stock Connect Consumer Index ETFs [10]

Group 1 - The toy consumption market is experiencing a surge in popularity, with a diverse range of products such as smart toys, IP-related items, and plush toys emerging, reflecting a new trend that is creative and personalized [1] - Consumers are increasingly prioritizing educational and entertaining functions, safety and quality, as well as individual and emotional needs when purchasing toys [1] - The market share of smart and educational toys has significantly increased, as parents favor products that enhance cognitive and motor skills [1] Group 2 - The children's toy market in China is undergoing a deep transformation, with technology integration, scenario extension, and sustainable development becoming core variables [2] - Companies need to build capabilities in "IP + technology + channels" to address new competition and challenges [2] - Utilizing social media and short video platforms for content creation and enhancing consumer interaction is essential for increasing product visibility and appeal [2]

Core Insights - The article highlights the significant increase in consumer activity and spending during the "May Day" holiday in Hangzhou, driven by various events and activities that attract large crowds [4][6][8] Group 1: Consumer Engagement and Events - The "Relaxed Bread Craft Beer Festival 4.0" at Hangzhou Olympic Sports Center attracted over 100,000 visitors daily in its first three days, showcasing the effectiveness of events in boosting consumer traffic [4] - The combination of shopping and celebrity fandom, exemplified by events featuring singer Wang Leehom, has created a unique consumer experience that enhances emotional value for attendees [5] - Various shopping centers reported increased sales due to celebrity appearances, indicating a direct correlation between entertainment events and retail performance [5] Group 2: Sales and Traffic Data - The Wulin business district recorded a foot traffic of 2.2613 million and sales of 310 million yuan, marking year-on-year increases of 36.79% and 7.19% respectively [6] - The Hubin business district achieved a consumption amount of 215 million yuan with 814,000 transactions, reflecting a year-on-year growth of 3.5% [6] - Qianjiang New City business district reported a consumption amount of 537 million yuan, showing a year-on-year increase of 16.3% [6] Group 3: Cultural and Thematic Activities - The "May Day" holiday featured innovative cultural experiences, such as free traditional costume rentals and photo opportunities, enhancing consumer engagement [7] - Various themed markets and cultural events, including ethnic parades and music festivals, attracted significant foot traffic and sales, with some areas reporting over 40,000 daily visitors and total sales exceeding 10 million yuan during the holiday [8] - The Qian Dao Lake Beer Town and other locations organized festive activities that drew in large crowds, with reported revenues of 3.74 million yuan and 57,200 visitors in the first three days [8]