Editor-in-Chief: This paper is based on the microcosm of the public (ID: excel-ers), author: Henga Chen, editor: brilliant, authorized by the state of entrepreneurship. The financial riots of Yemicide 2023Q1 are explained by nine words: China has the primary responsibility for Chinese production.

The term “China” was 28 times in the context of the management analysis of poor performance and 19 in the case of “HaiNan”.

And the Chinese consumer is not confined to the Chinese region, but rather “what is problematic, where mines”:

• Poor performance in the Asian region, with tourists from the south-east tax-free channel, declining willingness to purchase valuable cosmetics;

• The European market has declined significantly, and the “causing” of Chinese people is not going to travel.

In reality, however, China’s consumption situation is another.

The outbreak was followed by a break-out and the Hainan duty-free shop was overcrowded. In the same position as in the Y poetrylanded, the growth in overall tourism retail outlets in 2022 was mainly a strong increase in the Hainan duty-free shop.

Since 2023, the overall warming of cosmetics has been marked — as shown below, in March, even the largest single increase since 2022.

It seems that Chinese consumers are not able to buy, but are not Y poetry.

In fact, the branding of Ya poetry in China has not been two days, and the process has been backed by a core group of tenants — the movement of consumer claims from middle production.

“The reasons for the poor performance are the lack of time to resume cosmetics consumption levels after the outbreak, or the short-term stock of retailers?”

“What you believe that the dynamics of the stock have declined, will be completed in the fourth quarter?”

At a recent telephone conference, the Public Analyst continued to call Y poetry D. for stock-outs.

In response, management stated: “The traffic in sea south, although more than last year, has resulted in a low turnaround rate among tourists to high-end cosmetics consumers, leading to higher levels of retailers’ stocks.”

However, this statement was quickly hit.

Data released by the HCC show that 2023Q1 port purchasers were 22.4 million, an increase of 27.2 per cent, and that the amount of tax-free purchases was 16.9 billion, an increase of 14.6 per cent.

Many duty-free brands have been completed and conventional discounts and even prices restored. The price of 230ml was increased by 37 per cent to 1000 yuan in the case of SK-II.

But even so, tourists remain fanatic.

In April, a visitor shared on the Internet a four-day visit to Hainan and two days of haemorrhagic shops in the sea, “more than 10,000 dollars were purchased yesterday and more than 5,000 more were purchased today”.

Such sweeps have vacated a number of counters. For example, hundreds of SKU on the garina counter are nearly completely missing. Correspondents had to repeat that: “The lips, chores were sold, leaving only three colours”.

Even due to supply, the overall single price of duty-free shops is lower. The figure below shows a marked decline in average single-way passenger prices over the spring of 2023 and the fifty-first century.

As a result, it is not the unhelpfulness of the Hainan duty-free shop and the poor marketing conversion rate, which is still on the Ya poetry.

There were media reports that in 2019, the marketing of tax-free channels in China had reached 23 per cent. The proportion of capitals, e.g., Olivier, is just about 10 per cent.

In other words, in comparison with other brands, Y poetrylandeder relies more on tax-free channels.

This is due to the fact that tax-free channels do not require expensive marketing campaigns and are more profitable (15-20 per cent). For example, Y poetryande referred to at the telephone conference: tax-free access is the highest profit rate category.

As can be seen, in the second half of the year, after the reopening of the Hainan duty-free shop, the sales of Y poetryland in July received strong double-digit growth.

In addition to duty-free access, sales on the retail sector resumed significantly in the second half of the year.

In Ya poetry, the webcast of innovation was prominent. The figure below shows that in the highest number of watches in the live gallery, the business is leading.

Its management also referred to: “The net sales of us increased by 10.9 per cent during the two-11 period, ranked first among the various categories.”

This momentum has been developed, with Ya poem D’s entire “breaking”.

Management sees this as a major opportunity, with the expected complacency of the 2022Q4 performance, “China is developing in the manner we plan, and we continue to see that the opening of the interior creates an opportunity for flow”.

Retailers are equally optimistic and begin to build on promising marketing prospects, with early preparation:

The Asian region does not have production plants, and the transport of products and the supply of goods is longer than the same businessman, and traders need to order at least six months in advance.

Instead, according to the “cosmetic capital doctrine”, the tax-free return policy was granted in the Ya poetandy tax-free sector, and retailers tend to favour a one-time large amount of refrigerated goods in order to enjoy greater concessions.

Ultimately, however, consumption is not as fast as anticipated as a rocket development, but is slow, as in the case of pigs, as in the case of the mountains, leading to a serious backlog of retailers’ stocks.

Over time, staples have become critical commodities, reaching consumers, causing considerable dissatisfaction and distress.

Overall, over-optimality in the recovery of consumption in Ya poetry, combined with poor supply chain flexibility, led retailers to hypothetical pre-departures, culminating in a severe stock backlog and delays performance.

In fact, since 2023, the cosmetics industry has emerged as a whole: The sharp increase in foreign brand sales was negative, while the size of the country’s product plate remained growing.

This is behind the behaviour of the user community.

As can be seen, macroeconomic fatigue lasted for two years, with some changes in income at all levels of the population: the rich pyramid, which continues to grow; and the large-scale middle-income and sub-populations, whose incomes are significantly reduced.

The most consumer-elastic middle class - consisting mainly of senior managers, entrepreneurs, real shops or factory owners, etc., has a single source of income, a high cost of living and a poor ability to cope with risks, requiring an adjustment of spending along environmental changes.

The first two years were overtaken by midwifery, with high-end cosmetics.

Investor’s Education Base (Internet) assesses special investigative vouchers and welcomes the active participation of investors.

The eve of the Spring Festival has always been the peak of the company’s year-end bonus payment, and banks have also timely launched all kinds of year-end bonus exclusive financial products. There are a variety of year-end bonus financial products on the market. Which one is suitable for you? To this end, the reporter connected with the financial experts of China CITIC Bank to give advice to the majority of investors on how to finance the year-end bonus.

“From the situation we monitored, there are two types of products that are more mainstream and more suitable for year-end bonus investment.” China CITIC Bank financial experts said that the first category is short-term financial products, with an investment period ranging from 7 days to 3 months. Most of them are fixed income products. The investment scope is mainly short-term bonds. The liquidity of the products is good and the net value fluctuation is relatively small. At present, the recent annualized rate of return of these products is mostly between 3% - 5%. The second category is long-term financial management. The investment period is mainly 2-3 years, most of which are fixed income + products. The investment scope includes bonds, non-standard and equity assets. From the performance comparison benchmark of newly issued products, the performance benchmark of 2-year products is mostly between 4% - 5.5% and that of 3-year products is mostly between 4.5% - 6%; The overall investment style of such products is relatively stable. Due to the long closed operation period, it is easier to match high-quality assets, so the return on investment is more worthy of expectation. For example, China CITIC Bank’s current hot-selling new year exclusive series of financial management can provide a “golden” Hi configuration scheme for the year-end bonus. The product period covers 7 days to 3 years, covering different investment styles,

With the advancement of net worth transformation, financial products break the rigid exchange. How to manage investment expectations and choose suitable financial products becomes more and more important. China CITIC Bank financial experts remind investors: “the performance comparison benchmark of financial products is the investment goal formulated by the product issuing institution based on the market research and judgment and the future return on investable assets. It does not constitute the commitment of product income, let alone the guarantee of principal and interest.” Experts suggest that investors can comprehensively consider products from three perspectives: their own risk tolerance, expectations of product investment income objectives and reasonable liquidity arrangements. It should be noted that on the basis of considering the product risk rating, we should pay more attention to the underlying investment target and investment proportion of the product, and make the most suitable investment choice with reference to the historical operation performance and net value fluctuation of the same series of products.

With the implementation and deepening of national and local “fine decoration” policies, the market share of real estate fine decoration has increased year by year. In recent years, the annual growth rate of the scale of fine decoration houses has remained between 40% - 60%, especially in 2018, the growth rate was as high as 60%. With the rise of the market, the smart home furnishing industry has also benefited greatly from the rise of the market.

According to the big data of relevant real estate industry, the scale of hardbound houses in China from January to April 2019 was 700000, of which the matching rate of smart home products reached 77.1%, an increase of 12.1% over 2018. The supporting intelligent products include the following: intelligent security equipment, intelligent door lock, intelligent lighting, intelligent toilet, intelligent curtain, intelligent clothes hanger, intelligent home appliances, intelligent switch, intelligent home system, etc.

In the real estate fine decoration market, the demand for intelligent security equipment and intelligent lock is the largest. According to the monitoring of relevant real estate big data, the supporting quantity of intelligent security equipment and intelligent door lock reached 434000 sets and 347000 sets respectively from January to April 2019.

Smart curtains and smart toilets grew the fastest, with a year-on-year increase of 319.7% and 113.3%. Major smart home products maintained a high growth rate, with an increase of more than 60%. In terms of matching rate, intelligent security and intelligent door lock have entered the secondary matching. The matching rate of intelligent security exceeds 60%, and the matching rate of intelligent door lock is close to 50%. The matching rate of other smart home parts is less than 10%, which belongs to three-level matching.

In recent years, the real estate industry has changed from high-speed growth to stable development. Real estate enterprises have sought transformation and launched “quality housing” that is more in line with the needs of the younger generation. Smart home has become the “sweet pastry” of the real estate industry. Due to the high acceptance of smart home by the younger generation, a large number of developers take smart home supporting as a new selling point of real estate.

According to relevant real estate big data, 277 developers launched smart home supporting houses from January to April 2019, an increase of 101 developers compared with the same period last year. The smart home matching rate of developers is also increasing year by year. Among them, the top 50 developers are more keen on smart home matching, and the matching rate is as high as 82.2%.

The hardbound housing policy in the first tier cities was issued earlier and the market coverage is high. However, with the promotion of China’s urbanization and the high growth of land transactions in the second, third and fourth tier cities, the proportion of hardbound housing market in the second, third and fourth tier cities is increasing, and the supporting scale of smart home is also affected by this year.

According to the big data of relevant real estate, from January to April 2019, the smart home supporting scale of the real estate fine decoration market accounted for 54.2% in the second tier cities, accounting for the highest proportion, followed by the third and fourth tier cities, accounting for 34.1%. In terms of the matching rate of smart home, the matching rate of smart home in all cities has exceeded 65%, of which the matching rate of smart home in third and fourth tier cities is close to 80%.

This year, with the official commercial use of 5g technology and the rapid development of Internet, AI and other technologies, the smart home industry is bound to usher in a period of rapid development. The development of the real estate fine decoration market provides an excellent opportunity for the full popularization of smart home in the family scene.

When people decorate, they mostly encounter these problems: there are too many decoration materials, they don’t know how to choose, they can’t grasp the production progress of customized products, the decoration design drawings and the actual delivery goods are wrong, and they need to run around to buy materials These are the pain points that people encounter in home consumption.

The household industry has always been labeled as “traditional” and “backward”. Social progress and consumer demand promote the industry to move forward.

Now, after a round of intelligent upgrading, many new home consumption modes have been born. Consumers can DIY their own home and see the design effect in real time; The enterprise intelligently upgrades the factory, so that each order has its own QR code, and consumers can track the production progress in real time; Some brands also carry out cross-border cooperation, open up the design model library and establish product links, so that the products in the design drawings can be really bought; Moreover, the rise of whole decoration enables consumers to buy complete house household products in one store.

The development of smart home is changing the consumption mode, and where is the future?

Many insiders believe that the combination of furniture and building materials and smart home will become closer and closer. In the future, consumers may no longer buy products one by one, but buy a complete set of home solutions.

The “hand” of intelligence tears off the “tradition”

With the rapid progress of science and technology, intelligent development has penetrated into all aspects of life, and the home industry is no exception. When it comes to smart home, the first thing I think of is smart home such as smart speaker, smart panel and smart curtain. Now, smart home has been immersed in the whole industrial chain such as home production, design and stores, which has solved the pain points of various industries.

Decoration is a troublesome and bad thing for people. They run all over the home building materials markets, large and small, to buy materials and furniture; Customized cabinets, do not know the production progress, and the decoration period is delayed again and again; When decorating and delivering the house, it is found that the actual delivery is inconsistent with the design drawing With the intelligent blessing, these have been significantly improved.

People pay more and more attention to the experience of consumption. In the face of the lengthy decoration process of the product chain, the home industry is developing in a one-stop direction. For example, beautiful home has built a home service platform based on the whole decoration in the terminal store. Based on the data analysis of the Internet of things and combined with the smart home, the model room of the store is designed to improve the stickiness of consumers. At the same time, according to the analysis of consumption demand data, more than 200 packages of different categories have been developed. When consumers experience intelligence, they can also feel humanized consumption.

Design is the “soul” of home, and the level of designers directly affects the decoration effect. However, each designer’s understanding of user needs, design level and product expression are uneven. It is a time-consuming and laborious process for ordinary consumers to select designers by self feeling. When AI is involved in design, the design can also become standardized. In the AI cloud design launched by Shangpin home distribution, with the help of its own room type library, product library and style library data