中国零售及电商周讯（2025年2月7日-2月13日）

Helen ChinHead William KongManager Brigitte Ng HKUST LI & FUNGSUPPLY CHAIN INSTITUTE LSK Business BldgThe Hong Kong University of Kuaishou Local Life: Chinese New Year Group Buying Festival’s GMV up by 117%yoy as ‘new-tier’ cities show strong growth.................................................................2JD 7Fresh’s CNY orders increase by nearly 100% yoy..............................................2 Supermarkets & Hypermarkets...................................................................................3Costco Nanjing upgrades intra-city delivery service...................................................3Cosmetics.....................................................................................................................3L’Oréal sales in Chinese market experience first negative growth in five years.........3Furniture and Home Improvement..............................................................................4First IKEA store in Chinese mainland will be closed for renovations until April...........4Luxury...........................................................................................................................4Armani opens first restaurant in China........................................................................4Food & Beverage..........................................................................................................4Yum China’s core operating profit in 4Q24 increases by 35% yoy.............................4McDonald’s to open 1,000 new restaurants in China this year...................................5II. Market Overview.........................................................................................................5CCFA: More than 70% of shopping malls see annual sales growth in 2024...............5Average daily online retail sales during the Online Chinese New Year ShoppingFestival increase by 6.2% yoy....................................................................................5III. Policy Spotlight.........................................................................................................6Shenzhen implements new tax refund policy for e-commerce exporters....................6References (in Chinese).................................................................................................7 Internet &E-commerce Kuaishou Local Life: Chinese New Year Group Buying Festival’s GMV up During the‘Chinese New Year Group Buying Festival’from 26 January to 4February, GMV of Kuaishou Local Life (快手本地生活) increased by 117% yoy.The annual Chinese New Year‘homecoming’rush has boosted consumption in‘new-tier’cities (third tier and lower cities). During the Chinese New Yearholiday, the average daily number of paying users in ‘new-tier’ cities increased JD 7Fresh’s CNY orders increase by nearly 100% yoy During this year’sChinese New Year (CNY) holiday, JD 7Fresh’s (京东七鲜)orders increased by nearly 100% yoy. Instant retail platforms have become apopular choice for many consumers during the holiday period, further boostingsales of Chinese New Year goods. At the same time,as consumer health Alibaba’s 1688 makes all AI products free for merchants Alibaba’s wholesale marketplace 1688 recently hosted an event in Beijingtargeting industry-belt manufacturers, with a focus on factoriesthat areexperiencing second-generation succession, accelerating digital transformation,embracing the application of AI technology and entering the cross-border Baidu Youxuan Chinese New Year Goods Festival: Active merchants Baidu Youxuan’s (百度优选) ChineseNew Year Goods Festival (from 4 Januaryto 4 February) recently ended. During the festival, the number of users thatcompleted livestream e-commerce transactions increased by 249% yoy; thenumber of livestream e-commerce orders increased by 102% yoy; the average Supermarkets & Hypermarkets Costco Nanjing upgrades intra-city delivery service Costco’s Nanjing store recently upgraded its intra-city delivery service, with thedelivery range expanding from theoriginal ‘eight km radius of store’ to the entirecentral urban area, increasing shopping convenience and service efficiency forCostco members in Nanjing. This service upgrade will cover the main Cosmetics L’Oréal sales in Chinese market experience first negative growth in five L’Oreal recently released its financial results for the full year of 2024. Full-yearsales reached 43.48 billion euros, a 5.1% increaseyear-on-year. However, theChinese market suffered its first negative growth in five years, with salesdeclining by a low single digit; North Asia (which includes the Chinese market) Furniture and Home Improvement First IKEA store in Chinese mainland will be closed for renovationsuntil IKEA’s Xihui store in Shanghai closed for renovations on 8 February, with plansto reopen at the end of April. The renovations are based on customer feedbackand aim to improve the shopping experience by optimizing customer’s routes.At the same time, to pro