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零售數據反映經濟復蘇持續,可選消費中運動品牌公司值得關注

國家統計局早前披露的11月社會消費品零售數據指出,11月的社零增速進一步恢復,11月國內社會消費品零售總額達人民幣3.95萬億元,同比增加5%,增速較上月加快0.7個百分點。1月至11月的社會消費品零售總額人民幣35.14萬億元,同比下降4.8%。 若按消費類型分,11月份的增長主要來自商品零售,錄得34534億元,同比增長5.8%,而來自餐飲收入則錄伴4980億元,同比略為下降,下降約0.6%。1—11月份,商品零售316837億元,同比下降3.0%;餐飲收入34578億元,下降18.6%。

2020年雙十一銷售額再創新高,當中天貓的銷售額突破4900億元,而京東銷售額突破2700億元,與此同時,直播電商的快速發展為此次雙十一期間電商銷售額的高速增長貢獻了較大的力量。今年的雙11由過住的單日活動變為分為兩波,11月1日-3日是搶先購階段,11月1日起就可以付預售商品的尾款,並提前10天收貨。整個活動週期被拉長,將“購物節”打造成了“購物季”,越來越多的品牌和消費者參與這場購物狂歡。

在今年的雙11中,各大運動品牌表現十分搶眼,據李寧方面公佈的資料,截至11月11日 24:00,天貓李寧官方旗艦店單店成交額突破7.7億元。安踏集團則公佈今年“雙11”其全網電商的成交額28.4億元,較去年增長53%。數據顯示可選消費的復蘇趨勢持續,而當中,我們認為運動用品板塊的復蘇勢頭良好,從中長線而言,偏好板塊中的競爭力較高和經營效率持續改善的公司,推薦安踏體育(2020.HK) 、特步國際(1368.HK) 、李寧(2331.HK)。

撰稿: 莊嘉城研究分析員
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