The consumer market has achieved a "good start"

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The consumer market has achieved a "good start"

  On January 31st, General Secretary of the Supreme Leader stressed in the second collective study in the Political Bureau of the Communist Party of China (CPC) Central Committee that a long-term mechanism for expanding residents’ consumption should be established and improved, so that residents can spend with stable income, dare to spend without worries, and have a good consumption environment and a strong sense of willingness to spend.

  The consumer market has achieved a "good start". According to the monitoring of the Ministry of Commerce, the sales of key retail and catering enterprises in China increased by 6.8% compared with last year’s Spring Festival holiday, and the consumption promotion activities were rich and colorful. The sales of new year’s goods and other commodities were strong, the leisure consumption was splendid, and the daily necessities were abundant and stable.

  At present, all localities and departments take strong measures to enhance consumption capacity, improve consumption conditions, innovate consumption scenarios, and fully stimulate the potential of the consumer market. With multiple benefits, the consumer market is expected to accelerate its recovery and become the main driving force of the economy.

  Policy strength, enhance consumer willingness

  To restore and expand consumption, incentive policies play a role. During the Spring Festival holiday, more coupons are issued, which has an obvious pulling effect on catering consumption. According to the data of Meituan, after many cities in Zhejiang, Guangdong and other provinces issued coupons through Meituan, the year-on-year growth rate of food consumption in restaurants during the Spring Festival holiday reached double digits. Taking Hangzhou as an example, during the issuance of coupons for the Spring Festival, the order volume of the city’s dining room increased by 71% year-on-year, and the transaction volume increased by 80% year-on-year.

  Recently, many provinces have deployed their work in the form of holding meetings or releasing action plans, giving priority to restoring and expanding consumption: on January 29th, Shanghai held a press conference, proposing to restore and boost consumption as one of the key tasks, and launched a number of measures from the aspects of promoting consumption expansion and upgrading, promoting mass consumption such as automobiles and household appliances, fully activating the cultural tourism market, and supporting the recovery and revitalization of the exhibition industry. On January 28th, Guangdong held a high-quality development conference, which revealed that the growth target of total retail sales of social consumer goods in the province this year was set at 6%; On January 27th, Liaoning issued a notice, explicitly promoting the recovery and recovery of consumption, and put forward such measures as diversified provision of consumption subsidies, efforts to create new consumption scenarios, increased support for county-level businesses and key commercial circulation market entities, and encouragement of reasonable housing consumption … …

  "The focus of policy efforts is to solve some constraints faced by expanding consumption in a targeted manner." Jing Linbo, dean of the China Academy of Social Sciences Evaluation, said: looking at the demand side, in recent years, due to the epidemic, the income growth of ordinary people has slowed down and is expected to decline, and they dare not consume and are inconvenient to consume, and the tendency to save money and avoid risks has increased; Looking at the supply side, the innovation ability of market players can not fully meet the requirements of high-quality development, and there is still a certain gap between effective supply and people’s personalized and diversified consumer demand.

  "When the pockets are bulging, consumption will be motivated." Chen Lifen, a researcher at the Institute of Market Economy of the State Council Development Research Center, suggested that the income of urban and rural residents should be increased through multiple channels, especially the consumption power of low-and middle-income residents with high propensity to consume but greatly affected by the epidemic. Increase consumer credit appropriately. We will implement the policy of giving priority to employment, support the development of industries and enterprises with strong ability to absorb employment, and timely and effectively alleviate the impact of structural price increases on people in need.

  Improve facilities and improve consumption conditions

  "Intelligent services are more popular. Compared with finding a route with a map before, go on road trip is much more convenient." During the Spring Festival holiday, Liu Xin, a resident of Chaoyang District, Beijing, chose to travel by car for the New Year and drove all the way from Beijing to Xi ‘an, Shaanxi. Looking for travel strategies, choosing route navigation, booking tickets for hotels and scenic spots can all be easily done through the mobile APP.

  As an important part of consumption, the tourism market has obviously warmed up during the Spring Festival holiday, and the consumer demand for mass cultural tourism has been accelerated. According to the data center of the Ministry of Culture and Tourism, there were 308 million domestic tourist trips during the Spring Festival holiday this year, a year-on-year increase of 23.1%, returning to 88.6% in the same period of 2019; The domestic tourism revenue was 375.843 billion yuan, a year-on-year increase of 30%, and it recovered to 73.1% in the same period of 2019.

  The improvement of consumption conditions further promoted consumption upgrading. The Spring Festival tourism market shows that with the upgrading of tourism consumption, people are more inclined to increase their stay time at their destinations and carry out in-depth tourism. According to the data of where to travel, the number of hotel rooms booked on the platform reached a record high, and the number of rooms booked for more than three days reached a record high. The average length of stay increased by 3.6 hours year-on-year, which was equivalent to one third of tourists choosing to stay one night more than last year, which drove the consumption of catering, transportation and entertainment in the destination city. "The booking situation of this year’s Spring Festival holiday is much better than last year, and the check-in period of guests is 3-mdash; 5 days. " Mr. Cheng, the landlord of Tujia B&B Shanghai Pusu Garden, said.

  Thanks to the favorable policies to improve the consumption conditions of cultural tourism, long-distance tourism is also recovering obviously. According to data released by a travel platform, the number of domestic long-distance travel orders during the Spring Festival holiday increased by over 500% year-on-year. According to the map data of Gaode, the per capita navigation distance of users’ inter-provincial long-distance go on road trip increased by 17% compared with the same period of last year. Where to travel data shows that the average travel radius of passengers during the Spring Festival holiday has increased by over 50% year-on-year, and the average travel distance of each passenger has increased by 400 kilometers compared with last year.

  Experts suggest that by increasing the supply of high-quality products and services, the quality level of domestic supply should be continuously improved, and the virtuous circle of supply and demand should be promoted at a higher level, so that the consumption potential can be fully released.

  Innovate supply and increase consumption scenarios.

  "For camping enthusiasts, prefabricated dishes are quite convenient." During the Spring Festival holiday, Li Xiao, a college teacher in Shenzhen, Guangdong Province, went camping and bought a lot of prepared dishes in advance. Li Xiao said that as a new product in the catering market, it is more convenient to cook and carry prefabricated dishes, which meets the needs of family dinners and camping picnics. The data shows that during the Spring Festival holiday, prefabricated dishes have become a popular category of food and beverage consumption, and the sales volume has increased significantly year-on-year.

  At present, China’s residents’ consumption is diversified, multi-level and multi-faceted.

  The deep integration of cultural tourism and tourism has accelerated the recovery of the market. During this year’s Spring Festival holiday, all localities and departments closely followed the new trend of cultural tourism consumption upgrading, provided new supply of cultural tourism products, and launched more high-quality products and services that meet the tastes of tourists. According to the data released by Meituan, new consumption scenes have accelerated during the Spring Festival holiday, and new games such as lantern night tours, sleigh rides and non-legacy performances are popular. The order volume of catering services related to Meituan’s campsite increased by 272% year-on-year.

  Online and offline interaction, the popularity of catering has recovered. Whether it is a large catering enterprise, an established hotel, a fashion hotel or a online celebrity restaurant, they all give full play to their respective service advantages and characteristics, and cooperate with group buying websites to carry out activities such as discount promotion, limited time snapping up, and rebate cash.

  Model products are innovative and stimulate consumption potential. The trend of consumption upgrading in the Spring Festival is obvious, and health and fashion have become more concerned elements for consumers. According to the data of JD.COM, the dishes focusing on the concept of health are selling well.

  Hong Yong, an associate researcher at the Institute of Electronic Commerce of the Ministry of Commerce, said that consumption conditions should be continuously improved to better support consumption such as housing improvement, new energy vehicles and old-age services. If the city supports rigid and improved housing demand; Continue to implement the policy of exempting vehicle purchase tax and promote the transformation of automobile consumption from purchase management to use management; Promote the coordinated development of old-age care undertakings and old-age care industries, and accelerate the improvement of the old-age care service system that coordinates home community institutions and combines medical care with health care.

  The Central Economic Work Conference proposed that restoring and expanding consumption should be given priority. The relevant person in charge of the Ministry of Commerce said that it will conscientiously implement the spirit of the Central Economic Work Conference and actively take measures with relevant departments to restore and expand consumption and continuously enhance the basic role of consumption in economic development.

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