中国消费关联_在线品牌追踪_淡季分化；白色家电_受RVC 驱动；美妆_运动品类因基数降低加速增长-China Consumer Connection_ Online Brand Tracker_ divergence into low season; White goods_RVC led; Beauty_Sports accelerated on easier

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the China Consumer Market, particularly in the cosmetics, sportswear, and infant milk formula (IMF) sectors, analyzing performance across major e-commerce platforms like Tmall, Taobao, and JD. Key Highlights 1. Category Performance - White Goods: Grew by 15% year-over-year (yoy) in July, outperforming other categories. - RVC/Small Kitchen Appliances: Recorded growth of 14% and 10% yoy, respectively. - Sports Shoes/Sportswear: Achieved 11% and 7% yoy growth. - Declines: Categories such as IMF, Beer, Pet Products, and Beauty saw declines, with Women's Clothing, Condiments, and Dairy lagging at 15%, 17%, and 24% yoy declines, respectively [1][13][12]. 2. Domestic vs. MNC Brands in Cosmetics - Local Brands: Mass/local brands regained market share from premium/MNC brands, reversing trends from the previous period. - Shanghai Jahwa, Marubi, and KANs led with growth rates of 58%, 51%, and 48% yoy. - Giant, Perfect Diary, and Botanee grew by 24%, 7%, and 2% respectively. - MNC Brands: - LGHH was the only MNC to show positive growth at 9% yoy. - L'Oreal declined by 2%, while Estee Lauder and Shiseido faced declines of MSD to HSD% yoy. - Kose and Amore underperformed with declines of 19% and 49% yoy [2][23]. 3. Sportswear Market Insights - Both MNCs and local brands experienced positive online growth in July, attributed to a favorable base. - Anta reported improved performance in mid-July, expecting recovery in Q3. - Xtep noted retail sales acceleration, while Li Ning faced pressure with deeper discounts yoy. - The divergence in brand performance is attributed to product and fashion cycles, with brands executing omni-channel strategies [3]. 4. Infant Milk Formula (IMF) Performance - Sales Growth: On Tmall/Taobao, IMF sales grew by 11% in July, an improvement from -4% in June. - Top Brands: Local brand Yili (including Pro-Kido) showed strong momentum with 33% growth in July, while Feihe slowed to 6% growth. - Among MNCs, Biostime, Mead Johnson, and Wyeth outperformed with growth rates of 48%, 42%, and 32% respectively [17][18]. 5. Brand Performance Summary - Outperforming Brands: Included Herborist, Collgene, Marubi, KANs, HR, Uniqlo, Gree, Ecovacs, Roborock, Fila, Lululemon, and Pop Mart. - Underperforming Brands: Included Timage, QuadHA, Yili, and Cha cha [4]. Additional Insights - The report indicates a shift in consumer preferences towards local brands, particularly in the cosmetics sector, as they regain market share from MNCs. - The performance of various categories suggests a mixed recovery in consumer spending, with some sectors experiencing robust growth while others face significant declines. - The analysis highlights the importance of omni-channel strategies in capturing market share and responding to changing consumer behaviors [2][3][23].