The retail sector rose on the 24th. As of press time, Doctorglasses Chain Co.Ltd(300622) rose by more than 16%, the limit of Xinjiang Youhao(Group)Co.Ltd(600778) , Sanjiang Shopping Club Co.Ltd(601116) , Nanning Department Store Co.Ltd(600712) , Jiajiayue Group Co.Ltd(603708) , Chengdu Hongqi Chain Co.Ltd(002697) rose by more than 8%.
For the retail sector, Shanghai Securities pointed out that in 2021, the epidemic situation was disturbed frequently, the operation of offline supermarket department stores continued to be under pressure, and the prosperity of gold jewelry and professional chains was high; Affected by antitrust regulation and the fading of flow dividends, the e-commerce industry has differentiated its leading performance and slowed down its marginal growth. In the short term, with the weakening of the impact of the epidemic, consumer confidence is expected to recover, and retail sales may be at an inflection point; In the long run, the trend of common prosperity and consumption upgrading has not changed, and the online trend of physical goods has not decreased. We look forward to the driving effect of new retail formats on the recovery.
Looking forward to 2022, retail may continue to present a differentiated market, look for structural highlights and look forward to bottom recovery. The agency suggested paying attention to the industry leaders whose fundamentals are expected to achieve steady growth after the epidemic weakened next year: on the one hand, the gold and jewelry sector has continued the recovery trend and high momentum since the beginning of the year, and the industry leaders will benefit from the rapid growth of the wedding market brought by the consumption recovery in the short term in the future, Benefiting from the leading brand dividends brought by the improvement of industry concentration under the background of common prosperity + the rise of the tide of Nations for a long time, we pay attention to Chow Tai Seng Jewellery Company Limited(002867) to achieve further scale expansion through the provincial generation model and Lao Feng Xiang Co.Ltd(600612) and Chow Tai Fook to actively layout the sinking market. On the other hand, the offline traditional retail sector is struggling to recover, looking for high prosperity areas with business toughness. The regional convenience store leader Chengdu Hongqi Chain Co.Ltd(002697) operates steadily with marginal improvement in fundamentals. It may provide a more convenient, convenient and convenient shopping experience through encryption of exhibition stores and business model expansion to resist the impact of new formats. The new model of warehouse member stores is in the ascendant, overseas brands are adding weight to the Chinese market, and Chinese brands are entering one after another. Yonghui and Jiajiayue Group Co.Ltd(603708) will accelerate the layout by transforming the existing stores, and the new business form may enter a stage of rapid development; The high luxury retail market bucked the trend, and the epidemic promoted the return of high-end consumption. With the upgrading of consumption and the increase of residents’ disposable income, the track has great potential for future development.
(Securities Times)
