While the largest restraint to any new entrant into the global insect feed market is the regulatory framework, many potential investors are troubled by the legislative hurdles. However, since insect farming for animal feed produces hundreds of times more protein feedstock from a single hectare of land compared to traditional sources, the existent political objections are starting to fade out. This indicates that the threat of new entrants is settling at medium. In regions like Australia, where the livestock industry mainly relies on conventional protein sources, like soybean meal and lupin seeds, the insect feed concept is mostly in the nascent stage. Although in markets like Australia the threat of substitutes is very high, the threat of substitutes in the Sub-Saharan Africa, where the insect feed inculcation into the animal feed is not very nascent, is moderate.

The evolution of user interfaces has allowed gesture recognition to emerge as an essential solution for a significant number of applications. The challenge of using big and bulky phones, which incorporate long antennas, physical switches, and buttons, has been overcome using advanced technology. With innovation, the touch-sensitive interaction was incorporated in trackpads, like the IBM Simon. Currently, the touchscreen interface of IBM Simon is an efficient and familiar interface for cellular phone users around the world. Gesture recognition technology is also used in smartphones in the form of recognition of hand gestures to wake the screen.

A flatbread is made with water, flour, and salt and exist in various cultures throughout the world. The thickness of the bread can range from a few millimeters to a few centimeters. Moreover, rather than using a spoon or fork, many people use a flatbread to scoop or wrap food. Multigrain variants of flatbread are gaining popularity owing to increased health awareness. The batters used in flatbreads are often obtained from gluten-free cereals like rice, sorghum, teff, maize, or black beans which are usually fermented. Flatbreads are cooked quickly owing to reduced thickness, so their color remains light. Furthermore, owing to its widespread geographical distribution and high frequency and regularity of consumption, flatbread has been considered a suitable option for increasing the dietary intake of various vitamins and microelements.

Several systems installed in the aircraft like display systems, content, and software for improving the passenger experience and connectivity systems like Wi-Fi routers, will allow the passengers to be stay connected to online platforms. These systems are currently playing an important role in the selection of airlines by the passengers and are playing a major role in the digitization of the aircraft. With FAA permitting the use of electronic devices on the aircraft from gate to gate, inflight entertainment service providers are focusing more on inflight entertainment through the personal electronic devices (PEDs). Inflight live streaming of content has been introduced by some airlines, and currently, other airlines are tr ying to incorporate these into their offerings. Also, the provision of in-seat power has seen an increase in the PED usage, which became the main reason for the growth of Bring Your Own Device initiative. In this market, the operators (IFEC providers like Panasonic) can provide their services in wholesale, retail (revenue sharing), or a third model.

黄金珠宝前期受疫情影响较大，终端复苏进度超预期。新冠疫情恰逢春节和情人节珠宝旺季，对珠宝终端销售产生不利影响。根据国家统计局，1-3 月黄金珠宝社零同比下滑37.7%。四月以来伴随客流恢复、婚宴放开、购物节促销等因素珠宝终端开始复苏。五月以来实体零售均加速回暖：根据商务部，“五一”假期期间，商务部重点监测零售企业日均销售额比清明假期增长32.1%，同比下降6.7%。我们判断目前珠宝零售已经恢复至往年期8-9 成，龙头品牌领先复苏。全国来看，三四线城市恢复好于一二线城市，中部和东部地区好于西南地区，街边店恢

复好于商场店。

受全球疫情影响，1Q20 销售额下滑15%，中国区率先复苏。LVMH 一季度报告显示，1Q20 销售额为106 亿欧元，同比下降15%，可比增速下滑17 个百分点。全球线上渠道业务增长强劲。三月中旬起，中国市场率先复苏，线下门店逐步回暖；四月，头部品牌在中国区的销售额明显复苏，部分品牌增速超50%。分地区看，1Q20 亚洲（除日本）可比销售额下滑32%，大幅下降的主要原因在于一季度中国区线下门店关闭或营业时间缩短。日本市场受到增值税上调与疫情影响，可比销售额下滑10%。自3 月中旬起，美国市场和欧洲市场因受到门店关闭的冲击，1Q20 可比销售额分别下滑8%、10%。电商平台增长强劲，一定程度分流实体零售影响。

The report focuses on revenue generated from various industrial rubber materials as well as the end-use industries that utilize industrial rubber, including automotive and construction. Moreover, the report analyzes the current market trends of industrial rubber in different regions and suggests the future growth opportunities by analyzing government regulations & policies, thereby further increasing consumer acceptance for industrial rubber. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth. The key players in the global industrial rubber market are adopting different strategies, such as product launch, expansion, collaboration, agreement, and acquisition to compete against each other in the global competitive market. The market players profiled in this report are industrial rubber manufacturers, who serve the product globally to end-user industries. The data pertaining to market players and their strategic moves are gathered through annual reports and press releases of respective companies, various blogs available on their websites, and primary calls made to with experts in the industry.

受疫情冲击，Q1 社零同降19%，但3 月同比降幅较1-2 月收窄5pct，复苏迹象显现。2019 年上市零售企业营收同增7%，归母净利润同增0.7%，扣非增长11%。而20 年Q1 受疫情冲击，整体板块承压明显，营收和净利润分别下滑10%和60%。从各子板块来看，19 年可选表现优异，化妆品和黄金珠宝无论是营收端还是归母净利润端的表现居前，而20 年Q1 受疫情影响，必选超市板块表现突出，可选相对承压。

零售行业主要的53 家上市公司2019 年实现营业收入6444.21 亿元，同比增长5.17%，增速较2018 年上升1.38 个百分点。实现归母净利润251.14 亿元，同比减少0.51%。实现扣非归母净利润201.65 亿元，同比增长5.70%，增速较2018 年上升3.17 个百分点。

疫情产生剧烈冲击，至暗时刻已过。2020 年初新冠疫情使零售、餐饮等服务企业暂停营业，虽然当前我国已取得阶段性胜利，多数企业复工复产，但境外输入病例不断攀升且仍偶有聚集性病例新增，居民外出减少对火锅业生存形成较大考验，客流量恢复仍需较长时间。疫情下，国家及各地政府出台相应的政策，通过向餐饮企业提供减税、信贷支持等多项措施以缓解成本压力，同时各地积极发放消费券，使得营业资金恢复流转，进一步缓和疫情对企业的冲击。火锅门店平均停业时长约为40 天，估计火锅业在1-4 月营业收入较预期状态降幅达到48.54%。