轻工制造行业动态报告:25W42:双十一首日美护品牌表现分化 老铺黄金发布年内第三次提价通知

中信建投证券
Oct 19, 2025

核心要点①25年双十一抖音、京东、天猫平台时间周期延长;部分大众品牌加大买赠力度,高端外资品牌减少赠品规格降低折扣。天猫双十一首日平台美护品类增速优于李佳琦直播间,系部分品牌通过自播和其他肩部达播降低对李佳琦的依赖。海外品牌通过与超投合作的销售前置表现优于国货品牌,国货品牌整体较为平淡,品牌间分化明显。②10月17日老铺黄金宣布将于2025年10月26日进行今年第三次产品提价调整,此前两次调价分别...

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