月度归档： 2023 年 12 月

China people’s ＂exercise and fitness＂ is getting harder and harder! My favorite project is …

Source: CCTV Finance

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Move it! Have a nice summer!

The national movement continues to heat up, and more and more people in China build strong physique through sports. According to the survey of a better life in China, the demand for sports and fitness has been rising continuously from the consumption expectation in the past four years. In 2023, the proportion of people willing to increase their consumption in sports and fitness reached 27.99%, ranking fourth in the list of Chinese consumption expectations, a sharp increase of more than 7 percentage points over the previous year.

Who is the main force of sports and fitness consumption? The survey found that women’s wishes have been higher than men’s for four years.

Pay for sports, don’t underestimate this crowd.

From different age groups, middle-aged people aged 36-59 are more willing to invest time and money in sports and fitness. With a certain consumption power and a crisis to their own health, this group has become the main force in the sports and fitness market. Followed by people over 60 years old, the proportion of people who are willing to increase their consumption in sports and fitness is as high as 30.95%, which is almost the same as that of middle-aged people.

In which cities are people more willing to spend on sports and fitness? Kunming, Xi ‘an, Guangzhou, Yinchuan and Zhengzhou are the top five cities on the list.

Let’s run (ju ǐ n) and (qǐ) and (lái), shall we?

In terms of exercise and fitness, what items do you like? According to the online survey data, 51.90% people choose running, followed by small ball games such as badminton (35.33%) and hiking/hiking/mountaineering (32.84%).

Among them, men’s enthusiasm for running is nearly 13 percentage points higher than that of women (58.61%, 45.95%).

From different age groups, 18-25 years old are the people who love running the most. Central China, Southwest China and South China are the top three "love running circles" among the seven regions. Running is not only a physical exercise, but also a positive attitude towards life.

Besides running, what are the differences between the sports that men and women love?

The top three in the women’s sports list are: running, yoga/pilates and other shaping classes and small balls such as badminton. The sports that men often participate in: running, badminton and other small balls, football/basketball and other big balls. Men are more interested in ball games, while women prefer shaping sports such as yoga.

02

Escape from fitness, these excuses have you been shot?

When there is movement, there is silence. What is the reason that makes some people unable to open their legs and restricts their pace of exercise and fitness?

According to the online survey, four adults said that they didn’t exercise because they didn’t have time (42.51%), followed by the high cost (30.00%), others said that it was difficult to find a common partner (27.14%) and the community fitness equipment was insufficient (25.72%), and only 19.53% people really didn’t like sports.

In fact, there are 10,000 reasons to give up, only one belief is needed to persist, and more time should be made for your own health.

The lack of community fitness equipment is restricting the movement of northerners.

Besides lack of time and high cost, southerners think that it is difficult to find common partners, which is one of the three main factors that restrict their sports. Northerners believe that the lack of community fitness equipment is also one of the three main factors restricting sports fitness. It seems that the construction in this area in northern cities should be strengthened.

Promote the further expansion of automobile consumption

Analects of Finance and Economics

Author: Wang Qing (Deputy Director and Researcher, Institute of Market Economy, the State Council Development Research Center)

Automobile is a large-scale and relatively high commodity in China’s consumption market, and it is also an important field for the continuous upgrading of residents’ consumption structure. To effectively expand and better release automobile consumption, we should grasp the new changes, trends and requirements in the automobile market, and speed up filling shortcomings, unblocking points and optimizing the environment.

At present, China’s automobile consumption has obviously accelerated, and there are many bright spots in market growth, which is the "highlight" of national and local consumption promotion. Driven by a number of policies, the automobile market has obviously warmed up. From January to October this year, a total of 23.97 million vehicles were sold, up 9% year-on-year, and the growth rate increased by 4.5 percentage points over the same period; The total retail sales of automobile products was 3.9 trillion yuan, accounting for 11.3% of the total retail sales.

At the same time, the upgrading trend of automobile consumption structure is obvious. Statistics show that the proportion of sales of models below 100,000 yuan continues to decrease, and the proportion of middle and high-priced models above 100,000 yuan continues to rise, especially luxury brand models above 300,000 yuan continue to sell well, with a year-on-year growth rate of over 30%. The consumption heat of new energy vehicles continues to climb. From January to October, a total of 7.28 million new energy vehicles were sold, up 37.8% year-on-year, accounting for more than 60% of the global sales in the same period. In October, the sales volume approached the million-vehicle mark, and China became the world’s largest new energy vehicle consumption market for eight consecutive years. Automobile exports continue to maintain a high growth trend. In the first 10 months of this year, China exported a total of 3.92 million vehicles, up 60% year-on-year, including about 1 million new energy vehicles, which doubled last year and is expected to become the world’s largest automobile exporter this year.

From the general law of automobile consumption in developed countries, there is generally an "S"-shaped change between the car ownership per thousand people and the per capita GDP, and there are three stages: introduction period, popularization period and maturity period. In the popularization period, it will experience two stages of high-speed and medium-speed growth, and the dividing point is about 100 cars per thousand people. After crossing the 100-vehicle mark in 2014, China’s automobile ownership has gradually turned to medium-speed growth, and has exceeded 200 vehicles in 2021. After turning to the medium-speed growth stage, the market increasingly presents two prominent characteristics: first, the potential growth rate of automobile demand, that is, the growth rate that potential demand can actually support, gradually falls back; Second, the main driving force to promote the growth of automobile consumption has shifted from the demand for first-time car purchase to the demand for upgrading. It is estimated that by 2030, China’s automobile market will still maintain a growth rate of about 3%, and in the past two or three years, it will be roughly at the level of 4%~5%, and automobile consumption still has great growth potential.

From the structural point of view, the structural change of automobile demand has begun to strengthen the supporting role of sales. The first is the replacement and update demand brought by consumption upgrading. At present, nearly 100 million private cars in China have reached or exceeded 6 years old, and they have entered a large-scale renewal cycle. Updating 1% every year can drive considerable sales. In 2022, about 60% of China’s automobile sales will be purchased or replaced. The second is the demand for new energy vehicles led by technological progress. The market share of new energy vehicles is 20% to 50%, which is the fastest growing stage. It is predicted that by 2025, the market share of new energy vehicles in China will reach 50% and the annual sales scale will reach 15 million. Third, the demand for cascade expansion supported by the rural market. From 2018 to 2022, the average number of family cars per 100 households in rural areas increased from 22.3 to 32.4, with an average annual growth rate of 12%, twice the growth rate of towns in the same period, and it is in the fastest stage of increasing the number of cars per 1,000 people. The fourth is the related consumption demand of automobile aftermarket expansion. The personalized and fashionable consumption of young consumers is rising day by day, and the demand for car modification and beauty is very strong, with great growth potential.

To effectively expand and better release automobile consumption, we must conform to the new characteristics and general trends of automobile consumption and market, speed up the filling of consumption shortcomings, unblock policy blockages, and optimize the market environment.

Actively promote the upgrading of old models. Combined with local policy experience, promote the adjustment and upgrading of automobile stock and stimulate incremental consumption. Appropriately increase the replacement subsidy and increase the reward for upgrading fuel vehicles to new energy vehicles. Promote the abolition of unreasonable restrictions on second-hand car transactions, further facilitate second-hand car transactions in different places, and promote the standardized and large-scale development of the second-hand car industry.

Continue to expand the consumption of new energy vehicles. Accelerate the planning and construction of charging facilities, and accelerate the charging facilities to enter communities, highways, scenic spots and public parking lots (parking spaces), effectively alleviating mileage anxiety and charging anxiety. Accelerate the research and development of related technologies and further reduce the cost of car purchase and car use.

Accelerate the activation of rural automobile consumption market. Improve rural roads, gas stations, charging stations and other infrastructure conditions, guide the sinking of automobile distribution and service networks, and realize the synergy of automobiles and services to the countryside. Promote the precise management of pickup trucks, and clarify regulations such as annual inspection, scrapping and high-speed charging.

Orderly release the market consumption demand after the automobile. Promote the standardized, transparent and efficient development of automobile parts circulation, promote the upgrading of automobile maintenance services, and accelerate the construction of new energy vehicle maintenance technical standard system. Build a multi-level automobile race pattern, orderly release consumer demand such as automobile beauty, and activate the aftermarket consumption potential of automobiles.

Focus on optimizing the automobile consumption policy and environment. Optimize the tax rate of automobile purchase tax and consumption tax, and effectively promote automobile echelon consumption. Strengthen the construction of urban smart transportation and create a good car environment. Strengthen comprehensive financial support for automobile consumption services.

Guangming Daily (15th edition, November 23rd, 2023)

Source: Guangming Net-Guangming Daily

Second aunt looks at fashion： the CEO of Fulang Group is replaced; De Beers’ high-level reshuffle; Levi’s CEO will retire

21st century business herald reporter Gao Jianghong Intern You Yunqian Zhang Yizhen Beijing Report

Last week, many companies experienced major personnel changes. HanesBrands, the parent company of Champion, appointed a new chief marketing officer, and the senior management of Lanvin Group of Fulang Group and De Beers De Beers Group changed.

In terms of financial report, lululemon’s sales rose by 19% in the third quarter and lowered its annual performance guidance. The performance of British luxury watch retailer Watches of Switzerland did not increase in the first half of the fiscal year.

In terms of brand activities, Ralph Lauren will speed up the layout of the China market and open more than 30 stores every year; LVMH Group will sell a majority stake in the cruise retail business; Alibaba’s representative will withdraw from Farfetch’s board of directors; Amazon will drastically cut the fees of cheap clothing sellers; Balenciaga will set foot in the field of high-end jewelry for the first time; Miuccia Prada and Raf Simons will appear in Prada Shanghai exhibition; and PANTONE will announce the representative color of 2024.

1. lululemon’s sales rose by 19% in the third quarter, and its annual performance guidance was lowered.

Recently, Lululemon, a yoga sportswear brand, released its financial report for the third quarter of fiscal year 2023. In the first three quarters, the group’s sales increased by 20% to $6.414 billion. In the third quarter ended October 29th, lululemon’s sales increased by 19% year-on-year to US$ 2.2 billion, including 12% in North America, 49% in international business, 57% in overall gross profit margin and 2.6% in net profit to US$ 249 million.

For the fourth quarter of fiscal year 2023, lululemon expects net revenue to be between $3.135 billion and $3.170 billion, an increase of about 13% to 14%, which is lower than analysts’ expectations. For fiscal year 2023, lululemon expects net revenue to be between $9.549 billion and $9.584 billion, an increase of about 18%.

However, due to the tightening of spending by consumers, lululemon expects sales in the holiday season to be lower than expected. At the same time as the financial report was released, the board of directors of the group approved an additional share repurchase plan of up to $1 billion.

Comments: The revenue guidance in the fourth quarter lags behind Wall Street’s expectations, which is a rare mistake for this retailer whose performance often exceeds investors’ expectations. However, lowering the performance guidance may also be to achieve "unexpected growth", which is their old routine.

2. Ralph Lauren will speed up the layout of the China market and will open more than 30 new stores every year.

Ralph Lauren will accelerate its development in China market in 2024 and realize long-term and sustainable growth and value creation. Cai Xinhui, CEO of the brand’s China market and Southeast Asia, revealed that Ralph Lauren plans to open more than 30 new stores in China every year in the next few years, which will spread to more smaller cities while occupying a place in major cities.

Comments: In the cold winter of the market, mid-range luxury brands are eager to find a new way out. Although Ralph Lauren has been synonymous with the style of "old money" on social media in the past two years, the market has never reached a consensus on whether Ralph Lauren is a luxury brand. It is a foregone conclusion that refined luxury style will return. As a representative brand of this style, Ralph Lauren’s popularity has been rising in recent two years, especially in the China market. In the little red book, there are more than 90,000 notes related to "old money style". Besides fashion, this style has even penetrated into more subdivided fields such as home decoration, wedding and manicure. Continuing to bet on the China market is a promising move for Ralph Lauren.

3. Watches of Switzerland, a British luxury watch retailer, has no growth in the first half of fiscal year.

In the six months to the end of October, the sales of Watches of Switzerland recorded a year-on-year flat record of 761 million pounds, and the adjusted EBITDA fell by 10% to 94 million pounds, and the operating profit plummeted by 16% to 78 million pounds. By region, income in Britain and Europe decreased by 4% to 433 million pounds, while income in the United States increased by 5% to 328 million pounds.

Comments: Earlier, it was reported that the waiting list of Rolex watches was shortening, and the number of people waiting for some watches was shortened from 10,000 to 8,000, partly due to the cooling of global luxury consumption and reduced market demand. On the other hand, the downturn in the cryptocurrency market has further weakened the demand for luxury watches. It is true that the luxury watch market is blocked.

4. LVMH Group sells a majority stake in the cruise retail business.

French luxury goods giant LVMH Group said on December 8th that it has signed an agreement to sell a majority stake in Cruiseline Holdings Co., the parent company of Starboard & On Board Cruise Services, to a group of investors led by Jim Gissy.

Jim Gissy is the executive vice president of Westgate Resorts, a Florida timeshare company. Starboard was founded in 1958 and is headquartered in Miami. By the end of 2022, Starboard had more than 700 duty-free retail outlets selling handbags, jewelry, watches and beauty products on about 82 holiday cruise ships of companies such as Carnival Cruise Line, Royal Caribbean and Holland America.

Comments: LVMH will remain an "important minority shareholder" of the new entity despite the sale of equity. LVMH said in a statement: "New investors are strategic partners in the field of holiday retail, with innovative culture and growth philosophy." Who can do it for you? Cruise ships are also an important part of the luxury industry, and the development prospects are still considerable.

5. Levi’s CEO will retire.

Levi’s recently announced that CEO Chip Bergh will retire on April 26th next year, and the current president Michelle Gass plans to succeed him as the new leader of the group on January 29th next year. During Chip Bergh’s 12-year tenure, Levi’s has gradually developed into one of the best clothing companies in the world, promoting brand performance to achieve breakthrough growth.

Comments: Bergh reshaped Levi’s brand image, maintained its brand characteristics in the ever-changing competitive landscape, did not blindly pursue the trend, and paid attention to brand marketing. The great hero is about to retire. At present, consumers are increasingly cautious. The prospect of jeans brands or manufacturers like Levi’s, whose income comes from wholesale channels, is full of uncertainty. Can Levi’s new CEO take on the heavy responsibility?

6. Champion parent company HanesBrands appoints a new chief marketing officer.

HanesBrands, the parent company of American Fashion Champion and the American underwear and sportswear manufacturer, announced the appointment of Richard Mcleod as the vice president and chief marketing officer of Champion. In this position, Richard Mcleod will be responsible for promoting Champion’s global brand strategy and omni-channel brand positioning.

It is reported that before joining Champion, Richard Mcleod worked for Canada Goose, a Canadian down coat brand, and served as senior vice president of Canada Goose, responsible for brand development, growth and performance. Previously, he held senior leadership positions in companies such as Foot Locker, LVMH’s Hennessy, Pernod Ricard and Bacardi, and led the marketing activities of well-known wine and spirits brands such as Grey Goose, Bombay Sapphire and D’usse Cognac.

Comments: HanesBrands Group announced its third-quarter financial report, showing that sales decreased by 9.5% year-on-year to $1.51 billion, gross profit margin was 31.1%, and operating profit plummeted by 53% to $66 million. Can the new coach effectively reduce losses and turn losses into profits?

7. The top management of Lanvin Group of Fulang Group has changed greatly.

LANVin Group (NYSE: Lanv), a global fashion and luxury goods group, announced on December 8 Joann Cheng Yun, chairman and CEO of the group, had submitted his resignation to the board of directors and would start a new business in the future.

The board of directors of the group announced the appointment of director Huang Zhen as the new chairman of the group and Eric Chan as the CEO of the group, effective from December 7.

Fulang Group said that the appointment of Chen Jianhao comes at an important moment for the Group to expand the retail market in North America, Europe, Asia and the Middle East around the next stage of its brand growth. Huang Zhen said that Chen Jianhao’s rich experience in the fields of real estate and consumption will provide great value for the next stage of the Group’s growth and expansion of global business.

Comments: Fulang Group has now developed into a global fashion luxury group listed on the NYSE, and has maintained a steady growth momentum in the past few years. The two generals have extraordinary strength. Can they continue to write a chapter?

8. Alibaba’s representative withdrew from Farfetch’s board of directors

China’s e-commerce giant Alibaba recently announced that its president and board member, J. Michael Evans, has resigned from Farfetch’s board of directors, with immediate effect. It is understood that J. Michael Evans has been the president of Alibaba Group since August 2015 and joined the board of directors when Alibaba became a shareholder in Farfetch in 2020.

Comments: Previously, Richemont Group, which is also a shareholder, said that it would not undertake any financial obligations to Farfetch and did not intend to provide loans or investments to Farfetch. Ali also made a statement now, and Farfetch’s prospects were not good. Judging from the global situation of consumers returning to offline consumption experience, the reduction of non-essential expenses and the overall slowdown of luxury goods industry this year, Farfetch’s sudden departure seems to be certain.

9. The demand for diamonds is sluggish, and the giant De Beers has reshuffled its top management.

De Beers, the world’s largest diamond supplier, announced on Monday that two senior executives, namely David Prager, executive vice president and chief brand officer, and Ryan Perry, executive vice president of strategy and innovation agency, will remain on the executive committee until a successor is found. David Prager and Ryan Perry will continue to serve on the Executive Committee and oversee the transition of their responsibilities to other members. Tom Johnson is appointed as the general counsel, with effect from January 1, 2024. He will join the Executive Committee and be responsible for supervising the company’s legal and secretariat functions.

Comments: A series of personnel changes are considered as necessary measures for De Beers to cope with the current global diamond industry crisis. According to media reports, the global demand for diamonds has dropped to the lowest level since the epidemic, because global economic challenges continue to affect people’s demand for luxury goods. However, what needs to be more vigilant is the impact of the laboratory cultivation diamond industry on natural diamonds.

10. Amazon slashed the fees of cheap clothing sellers to meet the challenges of Shein and Temu.

Amazon, an American e-commerce giant, is slashing the fees for clothing sellers with prices below $20. The transaction fees for clothing products with prices below $15 will be reduced to 5%, and those for clothing with prices between $15 and $20 will be reduced to 10%, compared with 17% in the past.

Lucas Barnes, a former Amazon executive, said, "This will make Amazon more competitive in the field of low-priced clothing, because a dollar or two can make a big difference."

Comments: Although the company did not explain why it did this, it is widely believed that this shows that Amazon is preparing to fight a price war with China’s cross-border e-commerce companies Shein and Temu.

11. Open up new maps! Balenciaga set foot in the field of high-end jewelry for the first time.

The French luxury brand BALENCIAGA and Jacob & Co cooperated to create the "Diamant" high-end jewelry series, which was unveiled at the fall fashion show in 2024. This is the first time that Balenciaga has set foot in the field of high-end jewelry. It is understood that the series is made of 18-carat white gold and diamonds, including a large and heavy necklace and bracelet, a text theme style called "Typo", including a thin necklace and an oversized two-finger ring, designed to spell the word BALENCIAGA in a handwritten font style, and each diamond is hand-inlaid. Balenciaga x Jacob & Co. series has been exclusively booked on Rodeo Drive immediately after the show, and each model is customized for individuals. The production and delivery cycle is 3 months.

Comments: Since Demna Gvasalia became the new design director of Balenciaga, a lot of popular global fashion products have emerged. With exaggerated design and high price, the new products have a strong topicality, which often explodes the Internet. It is precisely this controversy that makes Balenciaga have a high flow among luxury brands, and it has risen rapidly in the fashion circle, and the products have become a proper out-of-stock king. What new trend will it bring when it comes to high-end jewelry this time?

12. Miuccia Prada and Raf Simons appeared in Prada Shanghai Exhibition.

To celebrate the opening of Pradasphere II exhibition in Shanghai START Star Art Museum, Prada co-creative directors Miuccia Prada and Raf Simons, as well as a group of brand executives appeared at the event site. This exhibition is the second appearance after the Pradasphere exhibition was successfully held for the first time in 2014, and will be open to the public free of charge from December 7 to January 21, 2024. The exhibition traces the history of Prada since its founding in 1913, and exhibits more than 400 physical and digital works of art, including the collection of fashion archives and the achievements of cross-border cooperation with art, architecture, culture and sports for decades.

In addition, Prada CEO Gianfranco D’Attis said that the company’s goal is to double its business in China in the medium term. Prada will open more stores, launch more localized products and marketing activities in China market. This means that the corresponding investment will increase, including opening larger stores, launching more localized products and holding more marketing activities. He also revealed that Prada plans to take the hotel concept as part of its globalization strategy and may launch it in 2024-2025.

Comments: After the construction of "Prada Universe" is completed, it is not difficult to see its ambition of further becoming upstream. To achieve this goal, the China market is a key link.

13. PANTONE announces the representative color of 2024.

PANTONE, an international color authority, recently released the representative color of 2024, and named it "Peach Fuzz" after PANTONE 13-1023. This is a comfortable and warm peach color, which just blends the elements of pink and orange, showing a fresh, soft and emotional atmosphere.

Since 2000, PANTONE has made annual color forecasts, which are selected through in-depth trend forecasts and socio-economic conditions, lifestyles and political influences (such as fashion, entertainment and tourist destinations).

Comments: Looking back at the popular colors released by Pan Tong in recent years, Viva Magenta, Very Peri and Illuminating Yellow all represent high saturation. At present, the pressure of life and work is great, and the popular colors turn into softer tones, which seems to correspond to "harmony" and "recovery"”。

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The Historical Meaning of Civilization and Its Contemporary Enlightenment

[Excerpts from arguments]

He Zhonghua wrote in the 6th issue of China Social Sciences in 2023 that "civilization" and "culture" can be used in a broad sense. In the early days of human civilization, people’s self-centeredness is a common cultural and psychological phenomenon, but the symbol of civilization maturity lies in the sublation of this self-centeredness. The existence of human beings is transcendent, and the positive interaction between human individuals and classes makes human civilization evolve in an accelerated way. The anthropological ontological paradox of the division between human physical existence and spiritual existence has its own manifestations in both eastern and western civilizations. The modernity shaped by western civilization exists the paradox of civilization and barbarism and the hegemony of "pseudo-universality". From a long period of history, the focus of human civilization is constantly shifting with different historical opportunities, and the great rejuvenation of the Chinese nation will profoundly affect the new pattern of civilization in the 21st century. Universal communication of human beings is an important condition for the development of civilization, and mutual learning of civilizations is helpful for different nationalities to make their own unique contributions to the overall progress of human civilization.

Guangming Daily (11th edition, September 15th, 2023)

Source: Guangming Net-Guangming Daily