Lawn mowers have supported people in their landscaping duties over the last few generations. The lawn mower is a category of garden equipment that includes watermanagement equipment, trimmers & hedges, and hand tools. The global demand for various garden equipment, machinery, products, and tools, including accessories, was estimated at about $270 billion in 2019 and is expected to hit a value of $575 billion by 2026. Created in 1830 by Edwin Budding of England, the lawn mower was patented for the first time in the US in 1868. After World War II, lawn mowers gained prominence as families migrated to the suburbs and found themselves caring for larger yards. Cecil Pond developed the first ride-on lawn mower in 1956, and today, the latest trend is robotic lawn mowers. The lawn mower has developed over the years from a large, hard-to-maneuver tool into a complex family of equipment with various characteristics and different degrees of speed and cutting accuracy. The technology has changed the design of homes, parks, and fields worldwide. Manicured lawns were no longer confined to the aristocrats' estates-with the easy and inexpensive cutting devices; most middle-class homeowners were able to keep safe and desirable lawns to enhance their properties. In the 1870s, lawn mowers had become so easy to use and priced fairly, that they became more popular in American landscapes.

上周，APP、太阳纸业等再发提价函，从 11 月 1 日起，文化纸和白卡纸在目前执行价基础上再提300 元/吨，这是继国庆前提价后的再一次提价落地。自今年6 月开始，以文化纸和白卡纸为主的纸种累计多次提价，吨纸盈利明显增强

本周IQOS 发布三季报，新型烟草景气持续稳健向上；家居建议重点关注兑现的定制家居及软体龙头；造纸提价兑现、盈利能力逐季向上，回调坚定布局！

2020 年9 月社零总额当月同比上升3.3%（Wind 一致预期为+2.25%），增速环比提升2.8pct。其中，家具类零售额当月同比增速显著修复，建议重点关注。2020年9 月家具类零售额当月同比下降0.6%，降幅环比缩小3.6pct。此外，对于竣工数据的短期回落，我们认为竣工缺口的回补是刚需，可能会有所延后但不会消失。