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2023-06-28
pdd稳得很
商贸零售行业点评:618大促点评:大盘缓增 平台更重质量增长 国货品牌榜单持续提升
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00:00","market":"hk","language":"zh","title":"商贸零售行业点评:618大促点评:大盘缓增 平台更重质量增长 国货品牌榜单持续提升","url":"https://stock-news.laohu8.com/highlight/detail?id=2346014483","media":"国盛证券有限责...","summary":"618 电商增速有所放缓,直播电商数据亮眼,活动周期持续拉长。3)另据国家邮政局,6 月1 日-6 月18 日期间全国快递业务完成量为46.78 亿件,同比+48.66%,大幅恢复。细分品类中美妆表现较为疲软,国货存在感持续加强。618 作为线上大促,2023 年大盘缓增,平台更重质量增长,但不乏结构两点。","content":"<html><body><article><p>618 电商增速有所放缓,直播电商数据亮眼,活动周期持续拉长。据星图数据:1)618 期间(6.1-6.18),根据星图数据,综合电商实现成交额6143亿元,同比+5.4%,直播电商实现销售额1844 亿元,同比+27.6%,渗透率达23.1%,综合电商+直播电商总成交额为7987 亿元,同比+14.8%,大盘缓增,新零售、社区团购在618 期间分别实现销售额243、167 亿元,其中美团闪购、<a href=\"https://laohu8.com/S/JD\">京东</a>到家、饿了么位于前三;2)大促战线拉长成为常态,从本年度618 活动各平台运营周期来看,京东为5 月23 日-6 月20 日,其中5 月为预售期,最后两日为返场日,天猫为5 月23 日-6 月20 日,<a href=\"https://laohu8.com/S/PDD\">拼多多</a>则截至6 月24 日结束,快手周期最长,为5 月18 日-6 月18 日,抖音相对较短,为5 月25 日-6 月18 日。3)另据国家邮政局,6 月1 日-6 月18 日期间全国快递业务完成量为46.78 亿件,同比+48.66%,大幅恢复。</p><p>分平台来看,拼多多增速亮眼,直播电商平台贡献较大增长。本年度618大促,各大平台均未披露交易总额,具体来看:1)天猫618 期间305 个品牌成交破亿,数量有所增长,其中2227 个品类同比增长超100%,超256 个中小商家成交额超过去年同期;2)京东618 表现超自身预期,据京东黑板报,大量品牌商家获得高速增长,其中新品表现较好,对整体销售拉动超30%,百亿补贴发力,参与商品数环比3 月增长超10 倍;3)拼多多订单数突破11 亿笔,GMV 同比增长超300%,定制化产品销量超900 万件,用户群体年轻化,80/90 后群体占平台总额接近80%;4)抖音618 期间抖音电商整体销量同比增长66%,其中货架场景抖音商城销量同比增长达177%,表现亮眼;5)快手电商订单量同比去年增长近4成,买家数同比增长近3 成,品牌商品GMV 同比增长超200%,品牌化持续发力。</p><p>细分品类中美妆表现较为疲软,国货存在感持续加强。1)根据星图数据,2023 年各大热门品类中,美妆护肤类表现较为疲软,618 期间销售额约为300 亿元,香水彩妆/洗护清洁/粮油调味/休闲零售分别实现销售额106/144/105/66 亿元,均有所增长,营养保健及运动户外品类热度仍较高,增长迅速,分别实现销售额88/258 亿元;2)国货品牌存在感逐步加强,<a href=\"https://laohu8.com/S/603605\">珀莱雅</a>、花西子等国货美妆品牌均位列品类销售榜前五,<a href=\"https://laohu8.com/S/02331\">李宁</a>、安踏亦表现较佳。</p><p>投资建议:一方面,近期线下短假体现较好出行景气,另一方面,由于先前多方面影响,居民支出意愿有待观察。618 作为线上大促,2023 年大盘缓增,平台更重质量增长,但不乏结构两点。当前时点,我们:1)零售板块,重点推荐<a href=\"https://laohu8.com/S/300592\">华凯易佰</a>、<a href=\"https://laohu8.com/S/300866\">安克创新</a>、<a href=\"https://laohu8.com/S/600827\">百联股份</a>、<a href=\"https://laohu8.com/S/600859\">王府井</a>、<a href=\"https://laohu8.com/S/600729\">重庆百货</a>、<a href=\"https://laohu8.com/S/MNSO\">名创优品</a>;2)社服板块,重点推荐酒店及景区龙头,其中<a href=\"https://laohu8.com/S/600754\">锦江酒店</a>、华住集团质优、较稳健,<a href=\"https://laohu8.com/S/600138\">中青旅</a>、<a href=\"https://laohu8.com/S/300144\">宋城演艺</a>、<a href=\"https://laohu8.com/S/603136\">天目湖</a>、<a href=\"https://laohu8.com/S/600258\">首旅酒店</a>、<a href=\"https://laohu8.com/S/601007\">金陵饭店</a>、<a href=\"https://laohu8.com/S/300756\">金马游乐</a>复苏进行时、估值仍有空间,重点推荐<a href=\"https://laohu8.com/S/301073\">君亭酒店</a>、首旅酒店;3)餐饮方面,重点推荐<a href=\"https://laohu8.com/S/09922\">九毛九</a>,并关注龙头的稳健扩张、新曲线孵化及降本提效,相关标的<a href=\"https://laohu8.com/S/09869\">海伦司</a>、<a href=\"https://laohu8.com/S/YUMC\">百胜中国</a>、<a href=\"https://laohu8.com/S/02150\">奈雪的茶</a>、<a href=\"https://laohu8.com/S/06862\">海底捞</a>、<a href=\"https://laohu8.com/S/605108\">同庆楼</a>等;4)此外,当前股价基础,我们看好<a href=\"https://laohu8.com/S/601888\">中国中免</a>、美团、<a href=\"https://laohu8.com/S/002697\">红旗连锁</a>、<a href=\"https://laohu8.com/S/300755\">华致酒行</a>等标的绝对收益。</p><p>风险提示:宏观经济影响;行业竞争加剧;数据误差风险。</p></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>商贸零售行业点评:618大促点评:大盘缓增 平台更重质量增长 国货品牌榜单持续提升</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ 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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n商贸零售行业点评:618大促点评:大盘缓增 平台更重质量增长 国货品牌榜单持续提升\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-06-26 00:00 北京时间 <a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2023062614041581fd41a4&s=b><strong>国盛证券有限责...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>618 电商增速有所放缓,直播电商数据亮眼,活动周期持续拉长。据星图数据:1)618 期间(6.1-6.18),根据星图数据,综合电商实现成交额6143亿元,同比+5.4%,直播电商实现销售额1844 亿元,同比+27.6%,渗透率达23.1%,综合电商+直播电商总成交额为7987 亿元,同比+14.8%,大盘缓增,新零售、社区团购在618 期间分别实现销售额243、167 亿元,其中美团闪购、...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2023062614041581fd41a4&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK1142":"互联网与直销零售","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","BK1591":"就地过年概念","LU0431992006.USD":"摩根大通新兴市场机会A(acc)","03690":"美团-W","LU0672654166.SGD":"FTIF - Templeton Asian Growth A (acc) 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Fund A2 SGD-H","LU0541501648.USD":"ALLSPRING EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","BK1610":"ETF&股票定投概念","LU0577902298.EUR":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (EUR) ACC","LU0140636845.USD":"施罗德大中华区股票A Acc","LU0048580855.USD":"富达大中华区A","LU0320764755.SGD":"FTIF - Templeton Asian Growth A Acc SGD","PDD":"拼多多"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2023062614041581fd41a4&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2346014483","content_text":"618 电商增速有所放缓,直播电商数据亮眼,活动周期持续拉长。据星图数据:1)618 期间(6.1-6.18),根据星图数据,综合电商实现成交额6143亿元,同比+5.4%,直播电商实现销售额1844 亿元,同比+27.6%,渗透率达23.1%,综合电商+直播电商总成交额为7987 亿元,同比+14.8%,大盘缓增,新零售、社区团购在618 期间分别实现销售额243、167 亿元,其中美团闪购、京东到家、饿了么位于前三;2)大促战线拉长成为常态,从本年度618 活动各平台运营周期来看,京东为5 月23 日-6 月20 日,其中5 月为预售期,最后两日为返场日,天猫为5 月23 日-6 月20 日,拼多多则截至6 月24 日结束,快手周期最长,为5 月18 日-6 月18 日,抖音相对较短,为5 月25 日-6 月18 日。3)另据国家邮政局,6 月1 日-6 月18 日期间全国快递业务完成量为46.78 亿件,同比+48.66%,大幅恢复。分平台来看,拼多多增速亮眼,直播电商平台贡献较大增长。本年度618大促,各大平台均未披露交易总额,具体来看:1)天猫618 期间305 个品牌成交破亿,数量有所增长,其中2227 个品类同比增长超100%,超256 个中小商家成交额超过去年同期;2)京东618 表现超自身预期,据京东黑板报,大量品牌商家获得高速增长,其中新品表现较好,对整体销售拉动超30%,百亿补贴发力,参与商品数环比3 月增长超10 倍;3)拼多多订单数突破11 亿笔,GMV 同比增长超300%,定制化产品销量超900 万件,用户群体年轻化,80/90 后群体占平台总额接近80%;4)抖音618 期间抖音电商整体销量同比增长66%,其中货架场景抖音商城销量同比增长达177%,表现亮眼;5)快手电商订单量同比去年增长近4成,买家数同比增长近3 成,品牌商品GMV 同比增长超200%,品牌化持续发力。细分品类中美妆表现较为疲软,国货存在感持续加强。1)根据星图数据,2023 年各大热门品类中,美妆护肤类表现较为疲软,618 期间销售额约为300 亿元,香水彩妆/洗护清洁/粮油调味/休闲零售分别实现销售额106/144/105/66 亿元,均有所增长,营养保健及运动户外品类热度仍较高,增长迅速,分别实现销售额88/258 亿元;2)国货品牌存在感逐步加强,珀莱雅、花西子等国货美妆品牌均位列品类销售榜前五,李宁、安踏亦表现较佳。投资建议:一方面,近期线下短假体现较好出行景气,另一方面,由于先前多方面影响,居民支出意愿有待观察。618 作为线上大促,2023 年大盘缓增,平台更重质量增长,但不乏结构两点。当前时点,我们:1)零售板块,重点推荐华凯易佰、安克创新、百联股份、王府井、重庆百货、名创优品;2)社服板块,重点推荐酒店及景区龙头,其中锦江酒店、华住集团质优、较稳健,中青旅、宋城演艺、天目湖、首旅酒店、金陵饭店、金马游乐复苏进行时、估值仍有空间,重点推荐君亭酒店、首旅酒店;3)餐饮方面,重点推荐九毛九,并关注龙头的稳健扩张、新曲线孵化及降本提效,相关标的海伦司、百胜中国、奈雪的茶、海底捞、同庆楼等;4)此外,当前股价基础,我们看好中国中免、美团、红旗连锁、华致酒行等标的绝对收益。风险提示:宏观经济影响;行业竞争加剧;数据误差风险。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1235,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":9,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/768500245512256"}
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