24&25Q1IP零售行业业绩综述:IP运营深化 海外高速扩张 经营杠杆显现

信达证券股份有...
07 May

从社零数据看,2024-2025年消费市场呈现"服务消费与线上零售双轮驱动"的复苏态势。24Q4/25Q1 中国社会消费品零售总额分别达13.43 万亿元和12.47 万亿元,同比增长3.8%和4.6%。其中25Q1 商品零售额11.06 万亿元,占社零总额88.7%,同比增长7.6%;网上商品和服务零售额2.99 万亿元,占比24%且保持同口径增速,显示线上消费持续高增,实体零售则通过数字化转型...

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