After Xinjiang cotton incident, we repeatedly stressed that this year is the year of clothing, and it is expected to continue the next few years. Clothing is only part of the rise of this round of domestic goods, home appliances, mobile phones, cars, cosmetics, baby milk powder domestic products are all in the process of overtime.
City share, domestic milk powder increased from 41% in 2016 to 54%, and domestic cars raised from January to April 2016 to 41.6%, and domestic product makeup increased from 2011 to 3.1% to 19.5%.
During the emergence of domestic goods, the faucet brand growth is faster, with typical growth shares, and the high-end trend of brand is significant, and the net profit margin is rapidly increased. in:
Even if the epidemic is affected, Li Ning, Bosideng, Anta 2020 income is 145/136/35.6 billion yuan, and the composite growth rate in the past three years is 18% / 15% / 29%, respectively; the net profit in 2020 is 17/17 / 5.2 billion yuan, the composite growth in the past three years is 49% / 41% / 19%, respectively.
High-end milk powder brand flying crane revenue increased from 10.4 billion in 2018 (34% composite growth), net profit increased from 2.2 billion yuan in 2018 to 6 billion (adjusted) (65% of composite growth) .
High-end appliance brand Casa Emi increased from 1.7 billion income in 2014 to 8.7 billion (31% composite growth).
After the back of this round of domestic goods, it can be concatenated as the following:
National cultural confidence is constantly strengthening. With strong national power, the media promotion guidance, China-US trade war, Huawei incident, 3.24 Xinjiang cotton, China, China, China, China, China, China, China, China, China, China, China, China, China, China. At the same time, the young consumer group is very high in new brands, and the new marketing acceptance is very high. Take Hongxingrk as an example, 50 million donations directly drive the Tmall flagship store sales from several hundreds of thousands of sales per day at 7.22 and 7.23 two The daily sales increase to nearly 11 million and 90 million.
Chinese goods are surpassing foreign brands. In the field of technical content as an example, overseas brands have not launched a breakthrough technology for many years; discloses domestic brands, presented specialization, young, and subdivided trends.
Digitally has a comprehensive improvement of efficiency. In the past, domestic brand-level distribution channel model and overseas accumulated retail system gap are huge, and in 2015, digitally opened the online, offline direct and joining system, and opened the warehousing logistics distribution system, and suppliers, let the whole The retail efficiency is rapidly upgraded (also the controllable basis of the faucet costumes in the faucet in the faucet in 2020). In addition, digitization promotes the efficiency of various management links such as human resources assessment, Anta, and Feihe are typical.
New traffic accelerates the rise of domestic products. In the past, CCTV is the main media resources, more in the hands of foreign brands in strength, and new media, live, private domain, etc. in recent years, new traffic resources such as young people have gathered, which is very beneficial to China
We believe that domestic brands understand the Chinese people in the products and marketing, and they are quickly achieved from the original three-fourth line main position to penetrate the mainstream consumer in the first line, and overseas brands have higher market share in China. The domestic goods provide a large growth space, and the rise of the domestic goods is right!
Risk Tips: Epidemic, floods have caused short-term consumption data to not expect; automotive chip recovery is lower than expected; raw materials price increases; automotive demand is not expected; exchange rate fluctuations; high-end demand is not expected; cosmetics The risk of adjustment of industry regulatory policies; product commissioning, quality control and other risks.
