英语新闻丨潮流消费故事成为投资者关注焦点
Investor interest is shifting toward emerging consumer trends, such as trendy IP-driven toys, the booming pet economy, and a rise of guochao gold jewelry and innovative tea brands, which are expected to become the next breakout consumption stories. 投资者的关注点正转向新兴消费趋势，如 IP 驱动的潮流玩具、蓬勃发展的宠物经济，以及国潮黄金珠宝和创新茶饮品牌的崛起，这些领域有望成为下一个突破性的消费热点。 Since the second quarter, shares of several new consumption companies have posted large gains, including Pop Mart, Laopu Gold and China Pet Foods. 自第二季度以来，多家新消费公司的股价大幅上涨，包括泡泡玛特、老铺黄金和中宠股份。 For example, fashionable gold jewelry, once considered traditional, has become a hot pursuit for young consumers who seek self-pleasure — a term used in China to describe individual-driven consumption for personal satisfaction. 例如，曾经被视为传统的时尚黄金珠宝，已成为追求 “自我愉悦” 的年轻消费者的热门之选 ——“自我愉悦” 在中国指的是为个人满足感而驱动的消费行为。 That trend is lifting names like CHJ Jewellery, whose shares have jumped 75.7 percent since April and about 189 percent since last year. 这一趋势推动着诸如潮宏基珠宝等品牌的发展，其股价自 4 月以来上涨了 75.7%，自去年以来涨幅约 189%。 CHJ has expanded aggressively even as broader retail growth slows. In 2025, it pushed into international markets by opening stores in Cambodia's Aeon Mall Phnom Penh, which the company said has laid the groundwork for its global ambitions. 即便整体零售增长放缓，潮宏基仍在积极扩张。2025 年，该公司通过在柬埔寨金边永旺购物中心开店进军国际市场，称这为其全球野心奠定了基础。Chow Tai Seng Jewellery has also reported expansion. On June 19, the company announced the opening of seven new self-operated stores in May, focused on plain gold and inlaid jewelry products. 周大生珠宝也宣布了扩张计划。6 月 19 日，该公司宣布 5 月新开设了七家自营店，主要销售素金和镶嵌珠宝产品。 The pet economy, another key pillar of new consumption, is also attracting institutional attention. Hangzhou Tianyuan Pet Products, a leading player in the segment, sells pet beds, cat trees, toys and electronic gear, reflecting rising consumer expectations for pet companionship as a lifestyle. Tianyuan has rallied 40.6 percent since April, driven by growing demand for pet lifestyle upgrades — from smart devices and clothing to gourmet food. 宠物经济作为新消费的另一大支柱，也在吸引机构关注。该领域龙头企业杭州天元宠物用品销售宠物床、猫爬架、玩具和电子设备，反映出消费者将宠物陪伴视为一种生活方式的期望日益提升。受宠物生活方式升级需求（从智能设备、服装到 gourmet 食品）增长的推动，天元宠物自 4 月以来股价上涨了 40.6%。 According to market research agency Mintel, China's urban pet market reached 279.3 billion yuan ($38.9 billion) in 2023 and is forecast to grow steadily — albeit at a slower pace — through 2029. 根据市场研究机构英敏特的数据，2023 年中国城市宠物市场规模达 2793 亿元（389 亿美元），预计到 2029 年将稳步增长（尽管增速放缓）。 Victoria Li, associate director of lifestyles and trends at Mintel China, said, "With more single-person households, an aging population, and a 'low-desire lifestyle' taking hold, pets are becoming emotional anchors in the lives of younger consumers." 英敏特中国生活方式与趋势副总监李维多利亚表示：“随着单身家庭增多、人口老龄化以及‘低欲望生活方式’的盛行，宠物正成为年轻消费者生活中的情感寄托。” The pet food market alone is expected to reach 76.3 billion yuan by 2029 even as growth moderates into single digits, said Li. 李维多利亚称，即便增长放缓至个位数，仅宠物食品市场规模到 2029 年也有望达到 763 亿元。 In a recent report, Guosen Securities outlined seven macro trends that are reshaping China's consumer investment logic: digital consumption, self-pleasing consumption (such as personal care), emotional-value consumption (including pets and the guzi economy), health-oriented products, the convenience economy (like instant meals and on-demand delivery), value-for-money substitutes, and new identity-driven trends such as guochao and sustainability. 国信证券在最近的一份报告中概述了重塑中国消费投资逻辑的七大宏观趋势：数字消费、自我愉悦消费（如个护）、情感价值消费（包括宠物和 “谷子经济”）、健康导向产品、便利经济（如即食餐和按需配送）、性价比替代品，以及国潮和可持续性等新身份驱动趋势。 BA Capital, a leading consumer-focused private equity firm in China, has backed brands including Pop Mart, Laopu Gold, and Urban Revivo. The firm describes a key demographic tailwind it calls the "Aesthetic Generation" — younger consumers raised amid material abundance who are both willing and able to pay for design, storytelling and immersive brand experiences. 中国领先的消费领域私募股权公司 BA Capital 曾投资泡泡玛特、老铺黄金和 URBAN REVIVO 等品牌。该公司将其称为 “审美一代” 的关键人口结构红利描述为：在物质充裕环境中成长的年轻消费者，既愿意也有能力为设计、品牌故事和沉浸式体验付费。 That sentiment is backed by Mintel. According to Victoria Li at Mintel China, 45 percent of consumers — rising to 51 percent among high-income groups — said that limited-edition collaborations with beloved IPs or collectible toys significantly enhance brand appeal. But the deeper shift, she said, is in the emotional architecture of consumption itself. 这一观点得到英敏特的支持。英敏特中国的李维多利亚指出，45% 的消费者（高收入群体中升至 51%）表示，与热门 IP 的联名限量款或收藏玩具会显著提升品牌吸引力。但她表示，更深层的转变在于消费本身的情感架构。 "For Gen Z, trendy toys are no longer toys — they're cultural shorthand for identity, values and taste," Li said. "In today's market, emotional resonance, symbolic meaning and scarcity can outweigh the material product itself." “对 Z 世代而言，潮流玩具不再只是玩具 —— 它们是身份、价值观和品味的文化缩写，” 李维多利亚说，“在当今市场，情感共鸣、象征意义和稀缺性可能比物质产品本身更重要。” 重点词汇 IP-driven toys /ˌaɪ ˈpiː ˈdrɪvən tɔɪz/ IP 驱动玩具 pet economy /pet ɪˈkɑːnəmi/ 宠物经济 guochao gold jewelry /ˈɡwɔː tʃaʊ ɡoʊld ˈdʒuːəlri/ 国潮黄金珠宝 self-pleasing consumption /self ˈpliːzɪŋ kənˈsʌmpʃn/ 自我愉悦消费
