零售行业2026年度投资策略:从保值到颜值 再到情绪价值

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Nov 02

1.行业回顾2025年社会消费和零售企业经营缓慢复苏,具体分板块看:黄金珠宝受金价高涨影响,高端中式黄金和时尚黄金赛道呈现更高景气,化妆品医美竞争激烈、国货品牌崛起,线下零售企业则持续推进模式变革探索。值得注意的是,“情绪消费”仍是景气度重要密码。2. 细分板块梳理分析黄金珠宝:行业核心逻辑已发生深刻变化:金价高涨、婚庆下滑,传统渠道品牌竞争力削弱,同时情绪消费兴起叠加社媒传播助力,部分具备差异化...

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