Weekly Economic Review ｜ What new consumption trends will be released by the Expo？
On April 13th, the 4th China International Consumer Goods Expo opened in Haikou, Hainan Province, with more than 4,000 brands from 71 countries and regions participating. As an annual global consumer goods event, every consumer fair has an important leading role in the consumer field, from which we can read many new trends in the consumer field.
At present, the global economy shows some signs of recovery. The latest issue of Global Trade Outlook and Statistics of the World Trade Organization has made a more optimistic estimate of the global merchandise trade volume this year. In China, domestic consumption has also significantly enhanced the economic growth. In January and February, the total retail sales of social consumer goods nationwide reached 8,130.7 billion yuan, up 5.5% year-on-year. In this context, how to give full play to the leading role of new quality productive forces, tap the market demand potential, and consolidate the stable and good economic situation has become a problem that all countries in the world, including China, need to face.
With the development of economy, the gap between domestic products and imported products in technology and quality is getting smaller and smaller, and the advantages of good quality and low price are becoming more and more prominent. With the increasing recognition and love of the new generation of consumer groups for traditional culture, the concept of "national tide" has become the focus of attention in the consumer field. And whoever has the innovative power may win the initiative in this new consumption track.
At this year’s Consumer Expo, three of the eight venues have highlighted the theme of "National Tide", and many exhibitors are also trying to use more innovation and creativity to meet the preferences of new consumer groups. Take Shandong Pavilion as an example. After the launch of "Rock Chicken" at the Consumer Expo last year, Dezhou Paji, a time-honored Chinese brand, showed a brand-new leisure chicken braised snacks this year, which won praise again. As long as we cut to the market demand and continue to innovate, even a century-old brand can still glow with new vitality.
Upgraded consumer goods need to better solve the pain points of consumption. Since the beginning of this year, new consumer demands such as "trade-in" and artificial intelligence have become hot words. Taking "trade-in" as an example, according to the statistics of Shandong Household Electrical Appliances Industry Association, at present, the total social ownership of various household electrical appliances in Shandong exceeds 200 million pieces, with an annual increase of over 5%, and 20-40 million sets of waste household appliances need to be eliminated every year, with an increase of over 9%, with huge market potential.
On April 14th, the audience visited Huawei booth in the 4th China International Consumer Goods Expo. Xinhua News Agency reporter Yang Guanyu reports
However, having demand does not directly mean having consumption. For the new demand, especially the replacement and upgrading consumption of "trade-in", we must rely on the new quality productivity and provide sufficient quality supply to fully activate the consumption potential. Zhan Wenyu, vice president of Iflytek Consumer Business Group, said at the Expo that artificial intelligence products have become an indispensable tool in people’s daily life. For example, people who can’t speak foreign languages can talk to foreigners face to face through translation machines.
In addition, enterprise products should be more in line with consumers’ new health concept. At present, China consumers’ health concept and healthy consumption ability are constantly enhanced, and healthy consumption presents a new trend and new characteristics from "single product category" to "integration". The product form and service scope of healthy consumption are constantly expanding, which drives the market capacity to continue to expand. According to the Outline of "Healthy China 2030", by 2030, the output value of China’s health industry will reach 16 trillion yuan, and the big health industry will become the most promising industry in the 21st century.
This year’s Consumer Expo also pays attention to this future consumption development trend. For the first time, an international health consumption sub-venue was set up in the pioneer area of international medical tourism in Boao Lecheng, Hainan, to showcase the global health consumption products. Under this consumption trend, how to use the platform of Consumer Expo to show the health concept of their products has also become an important issue for exhibitors to consider. China’s time-honored brand is super interested in grasping the demand for healthy food, and the light-degreased black pig’s bazi meat featured in this exhibition has been widely praised.
(Reporter Sun Yuanze)
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