未知机构：春节假期服务消费跟踪反馈持续更多更新-20260224

Summary of Key Points Industry Overview - The report focuses on the duty-free and jewelry sectors, particularly during the Chinese New Year holiday period, highlighting consumer behavior and sales performance trends [1][2]. Duty-Free Sector - Duty-free sales during the Chinese New Year period (up to the sixth day) increased by approximately 22% year-on-year, aligning with expectations [1][2]. - Although the growth rate slowed compared to January, there was an improvement in the product mix, with notable declines in gold and mobile phone sales due to fluctuations in gold prices and purchase restrictions on phones [1][2]. - Categories such as cosmetics, apparel, and luxury goods saw an increase in growth rates, performing better than in December and January, with stable gross margins showing slight improvement [1][2]. Jewelry Sector - In the jewelry market, data from the East China region indicated a decline of over 15% in overall sales during the Chinese New Year, with brands like Chow Tai Fook and Chow Sang Sang achieving low double-digit growth [2]. - Other brands experienced declines exceeding 20%, attributed to weak consumer demand in third- and fourth-tier cities, with average transaction values and wedding-related demand performing relatively poorly [2]. - First- and second-tier cities outperformed third- and fourth-tier markets, indicating a disparity in consumer spending [2]. - Sample franchisees reported a slight increase in Chow Tai Fook store openings for 2026, while other brands saw minor closures or optimization of their stores [2]. Tea Beverage Sector - The tea beverage brand, Gu Ming, maintained a double-digit growth rate per store in February, while another brand, Mi Xue, also reported positive growth during the Chinese New Year period [2].