Today's data highlights: BMW i3 price cut by half; orders for study tour products increased by 70% year-on-year
According to China Securities Taurus, the reporter learned from many online travel platforms that summer travel bookings have entered a peak. Study tours continued to be popular last year, and related products increased by 70%. Parent-child study products are still very popular, and orders for related products increased by 70% year-on-year, and prices are basically the same as last year. Beijing, Shanghai, Qinghai, Sichuan, Inner Mongolia, Ningxia, Guizhou, Yunnan, Xinjiang and other places are popular domestic study destinations, and some popular routes are currently sold out. Overseas long-term study routes such as the United Kingdom and the United States, and short-term study routes such as Singapore and Thailand are popular, and various theme tour products such as visiting famous schools and getting close to nature are selling well.
China's down jacket market size to grow 15.81% year-on-year in 2023
On the evening of June 26, Bosideng released its annual report for the 2023/24 fiscal year, with revenue reaching 23.21 billion yuan, up 38.4%; net profit was 3.12 billion yuan, up 44.7%.
Judging from the data, this performance hit a new high in the company in recent years. Some industry insiders believe that the performance of this company, which mainly sells down jackets, has increased due to the changes in the current domestic clothing market. In the early years, the impression of Chinese people on down jackets was that they could only be worn for one season, but now people are gradually changing the category of down jackets from a winter warming tool to a fashion item.
According to a report released by the China Business Industry Research Institute, the size of China's down jacket market will be 196 billion yuan in 2023, a year-on-year increase of 15.81%. It is expected that the market size will reach 227 billion yuan in 2024.
Bosideng is not the only company that has benefited. Not long ago, Canada Goose, which also specializes in down jackets, announced its fourth-quarter financial report for fiscal year 2024 ending March 31, 2024, with sales in the Chinese market increasing by 29.7% year-on-year. At the earnings conference, it stated that the Asia-Pacific region is the company's fastest-growing region, and Chinese consumers have driven strong growth in local performance. In addition, the brand's head also said that the number of Chinese tourists shopping in its Japanese stores has also increased significantly, which has also driven double-digit sales growth in the country.
Amazon turns to low-priced goods to block the expansion of Temu and Shein
Recently, Amazon's "low-price store" project surfaced. An Amazon seller told China Business News that on June 26, Amazon held a closed-door meeting in Shenzhen and specifically invited a number of merchants to communicate with sellers about the new project "low-price store". Subsequently, on June 27, the Amazon team also communicated with some merchants who did not attend the closed-door meeting about the low-price store project.
A Hangzhou merchant told China Business News that according to his understanding, the "low-price store" has a separate entrance on the Amazon main site, and the back-end merchants will sell goods in the "low-price store" channel in the form of a "store within a store". Amazon has a special path to manage the "low-price goods" channel. The goods sold in the "low-price store" must be priced below US$20 and sold in the form of white-label products. If they are non-white-label products, the logo will be hidden for sale.
The merchant said that before the Spring Festival, Amazon had already proposed the concept of "low-priced goods", defined as goods below US$20, and established a relevant project team, which will be gradually implemented this year.
Why did Amazon suddenly turn its attention to low-priced goods? Industry insiders generally believe that this is a bullet Amazon fired at Temu and Shein. Whether Amazon can stop the expansion of Temu and Shein by supplementing "low-priced goods" is becoming a new battle in the overseas cross-border e-commerce market competition.
You can buy a BMW for 170,000 yuan? As soon as the news came out, BMW stores became lively all of a sudden. Even on a weekday morning in June, a BMW store in Guangzhou had nearly 20 customers. The salesperson proudly told Caijing that many people came to consult about the i3 because of the price reduction. There were basically 1-2 people picking up cars in the store every day, mostly young people. The protagonist of the story is the BMW i3, a pure electric mid-size sedan. As the electric version of the classic BMW 3 Series, the manufacturer's suggested retail price of this car is between 353,900 yuan and 413,900 yuan, but due to sluggish sales, the price has been falling since last year, and now the selling price is almost halved. "We don't make money at this price. We can say that we lose money on every car we sell. Our store mainly makes money from bank rebates and money from customers applying for financial loans." A salesperson at a store in Shanghai told Caijing.
The car price war is raging. The "70% off for Tiger and 80% off for Leopard" is an old joke. Cadillac recently revealed the news of "buy one, get one free". The price position of second-tier luxury car brands is gradually losing ground. Now, even the "big-eyed and thick-browed BBA" is affected.
BBA is in such a difficult situation, not to mention other second-tier joint venture car brands. They are not only sad about electric cars, but also the prices of fuel cars are falling all the way. "70% off Leopard, 80% off Tiger, 50% off Cadillac" is really happening: the transaction prices disclosed by websites such as Car Owners' Home show that the price of Cadillac CT4 bare car has dropped from 219,700 to 134,000; the highest discount of Land Rover Range Rover Aurora is 190,000 yuan; the discount of Jaguar XFL is nearly 190,000 yuan, falling to 260,000 yuan. Cui Dongshu, secretary-general of the China Passenger Car Association, pointed out that a total of 70 electric vehicles will participate in the price reduction in 2023, and as of May 2024, nearly 60 electric vehicles have been reduced in price. The scale of price reduction in the entire automobile market has exceeded 90% of the whole year of 2023, surpassing the total scale of price reduction in 2022. The "price war" that occurred from February to April this year is a rare "price war" in history.
The general fiscal revenue and expenditure gap in the first five months was 2.2 trillion yuan
Broad fiscal expenditure exceeded revenue by about 2.2 trillion yuan, slightly higher than the same period last year. This difference in revenue and expenditure will be made up by raising funds through government bonds and other means.
According to the Ministry of Finance, in the first five months of this year, the broad fiscal revenue was about 11.4 trillion yuan, a year-on-year decrease of about 3.5%, and the broad fiscal expenditure was about 13.6 trillion yuan, a year-on-year decrease of about 2.2%.
Recently, Minister of Finance Lan Fuan made a report on the central government final accounts for 2023 to the 10th meeting of the Standing Committee of the 14th National People's Congress. After introducing the national general public budget revenue and expenditure data for the first five months, he said that the current economic recovery still faces many challenges, enterprises are under great operating pressure, fiscal revenue growth is facing constraints, and the contradiction between revenue and expenditure is more prominent than before. Continued efforts are needed to complete the annual budget.
