The maternal and infant boom market has entered a period of high growth

The mother-infant trillion market has entered a period of high growth, and the second child has fully released the wave of consumption in the mother and infant market. According to data released by the Baby and Child Industry Research Center, the maternal and child market will reach a scale of 2 trillion yuan in 2015, and the mother-to-baby market will reach 3 trillion in 2018. The compound growth rate in the next three years will reach 14.5%. The fertility peak and consumption upgrade brought about by the comprehensive second-child policy will become the twin engines driving the rapid growth of the maternal and infant industry. According to our calculations, the release of the second child will drive an annual increase of 300-45 billion yuan in maternal and child consumption.

Maternal and child e-commerce has rapidly emerged and cross-border e-commerce has become a powerful driver for the development of online maternal and child health. At present, the online market accounts for 5%-10% of the market size of the maternal and infant industry. In the future, with the development of mobile e-commerce, parents will become the main force of consumption after 80 and 90 years, and the proportion of maternal and infant online will gradually increase. At the same time, due to the rigid, high-frequency and large-flow characteristics of the maternal and infant industry, it has become a natural entry point for cross-border e-commerce, and the two are mutually reinforcing. Mothers and baby products, including milk powder, diapers, toys, and maternity health products, rank first in the category of imported cross-border electricity products. We expect the share to be between 30% and 50%.

Social and e-commerce integration is the future direction of mothers and infants online, and O2O is an inevitable trend for the maternal and infant industry to achieve in-depth development. The online maternal and infant platform has been extensively segmented into service, vertical and independent mobile applications. Through our research on several major maternal and infant electricity providers (mug, mom network, baby tree), the three The fusion of social + e-commerce is the future trend of maternal and child e-commerce - social networking by e-commerce to realize the flow of electricity, e-commerce to attract users through the social network is the fundamental driving force for integration. From the point of view of online and offline integration, the pain points of rights protection barriers, security risks, and education scarcity in the maternity and baby industry determine the necessity of the development of the O2O model, and the "fragmented" consumption characteristics of the target group make the advantages of the mobile terminal more prominent. We believe that with the in-depth development of the maternal and child industry, community, word of mouth, and fan business will become important breakthrough points for the development of maternal and infant O2O. At the same time, the industrial chain integration of products, services, logistics, and payment will also lead to the mother In the wave of O2O development in the infant industry, the emergence of a large number of leading companies.

Enterprises in the textile and apparel industry actively deploy the baby industry. Many companies in the textile industry have laid out the maternal and child industry chain through various channels. After our selection and screening, it is recommended to pay attention to: Senma Garments (a leading player in the children's wear industry, deploying e-commerce in the field of baby products, and entering the early education market to build a child care industry. Cluster))Langzi shares (holding the largest baby brand in South Korea Akaban to build a green baby industry, capital increase shareholding e-commerce operators if the 20% stake in Yu-Chan, enjoy the benefits of online mother and child development); Bibi (focusing on baby products, quality brands, channels, active layout of online and mobile); Meisheng Culture (around the original IP, layout animation, games, children's drama, film and television, derivatives and other cultural industry chain ecosystem, Disney The upcoming park will drive the company's related businesses, and will increase RMB 3 billion to strengthen the construction of the IP culture platform.) Cross-border communication (for high-quality cross-border trade marks, the establishment of a cross-border e-commerce integrated eco-sphere will be increased).