Event:
The National Bureau of statistics released the social zero data in December 2021.
Consumption in 2021 maintained a recovery trend, and the growth rate fell in December due to the repeated impact of the epidemic
From January to December 2021, the cumulative value of total social zero was 44082.3 billion yuan, a year-on-year increase of 12.5%;
In December 2021, the total value of social zero was 4126.9 billion yuan, a year-on-year increase of 1.7%. By region, the annual growth rate of cities and towns was slightly higher than that of rural areas, and the growth rate of rural areas was higher than that of cities and towns in December. From January to December 2021, the retail sales of urban consumer goods reached 38155.8 billion yuan (+ 12.5%), and that of rural consumer goods reached 5926.5 billion yuan (+ 12.1%); In December, the retail sales of urban consumer goods reached 3524.3 billion yuan (+ 1.5%), and that of rural consumer goods reached 602.6 billion yuan (+ 2.8%). By consumption type, because catering will be more affected by the epidemic in 2020, and the low base effect is more obvious, the growth rate of catering revenue in 2021 is higher than that of commodity retail. In December, due to the repeated impact of the epidemic in many places, the growth rate of catering revenue decreased. From January to December in 2021, the retail sales of goods was 392.8 billion yuan (+ 11.8%), and the catering revenue was 4689.5 billion yuan (+ 18.6%); In December, the retail sales of goods was 3642.8 billion yuan (+ 2.3%), and the catering revenue was 484.1 billion yuan (- 2.2%).
Online sales performed well and maintained rapid growth throughout the year
In 2021, online retail sales reached 13088.4 billion yuan (+ 14.1%). Among them, the online retail sales of physical goods reached 10804.2 billion yuan, an increase of 12.0%, accounting for 24.5% of the total retail sales of social consumer goods; Among the online retail sales of physical goods, food, clothing and consumer goods increased by 17.8%, 8.3% and 12.5% respectively. Online retail sales in December were - 0.8% year-on-year, including online retail sales of physical goods + 1.9% and online retail sales of non physical goods - 11.5%.
Basic consumption continued to grow, and optional consumption dropped significantly
In December, basic consumption continued to grow, with daily necessities + 18.8%, beverages + 12.6%, Cereals, Oils and food + 11.3% and tobacco and alcohol + 7.0% year-on-year. Some optional consumption decreased year-on-year, with - 7.4% for automobiles, 6.0% for household appliances and audio-visual equipment, 3.1% for furniture, 2.3% for clothing, shoes and hats, knitwear and textiles, and - 0.2% for gold, silver and jewelry.
Investment advice
In the cosmetics industry, in 2022, the new regulations on cosmetics have been implemented successively, and the supervision on production and marketing has been strengthened. Head cosmetics brand has stronger production control ability and more standardized brand marketing. Attention: Yunnan Botanee Bio-Technology Group Co.Ltd(300957) , Proya Cosmetics Co.Ltd(603605) , Shanghai Jahwa United Co.Ltd(600315) , Guangdong Marubi Biotechnology Co.Ltd(603983) , Syoung Group Co.Ltd(300740) etc. The supervision of the medical and beauty industry continues to be stricter, which is expected to speed up the standardization process of the industry. The competitive advantages of head medical beauty product supply enterprises with complete certificates and medical beauty institutions with long-term standardized operation are more prominent. Attention: Imeik Technology Development Co.Ltd(300896) , Bloomage Biotechnology Corporation Limited(688363) , Shanghai Haohai Biological Technology Co.Ltd(688366) , Sihuan medicine, Huadong Medicine Co.Ltd(000963) , Lancy Co.Ltd(002612) , Ruili Yimei, etc.
Risk tips
The repeated impact of the epidemic, intensified industry competition and macroeconomic fluctuations.
