New Consumption Hot Discussed By NPC And CPPCC

"Promoting consumption", "stabilizing consumption" and "new consumption" are the key words of this year's NPC and CPPCC.

Whether it's a report on the work of the government or the topics of the NPC and CPPCC deputies, you can get a glimpse of it. According to the report, we should adhere to the strategic basis of expanding domestic demand and fully tap the potential of the domestic market. In terms of stabilizing and expanding consumption, the report proposes to increase residents' income through multiple channels, expand consumption in counties and townships, and make good use of "Internet +" to provide consumers with more convenient and comfortable services and products.

During the two sessions of the National People's Congress and the Chinese people's Congress, many representative members also focused on the topic of consumption. Bai chongen, member of the National Committee of the Chinese people's Political Consultative Conference and President of the school of economics and management of Tsinghua University, focuses on how to improve residents' high-quality consumption. Zhang Jindong, deputy to the National People's Congress and chairman of Suning holding group, believes that the general trend of domestic consumption upgrading remains unchanged, and product quality upgrading and rural market consumption demand are important aspects of consumption upgrading.

In fact, in the process of promoting the formation of a "double cycle" new development pattern, the potential of high-quality consumption and new consumption is worth looking forward to. Lin Jiang, a senior analyst at Jingdong big data research institute, pointed out to the 21st century economic reporter that the word "new" of new consumption can be understood from two aspects: first, new consumption growth points and trends; second, new consumption formats and patterns. New consumption in the future will accelerate to expand into more subdivided fields.

"New consumption" from the supply side

With the establishment of the dual cycle new development pattern, consumption will become the main driving force of China's economic growth in the future. How to promote the development of new consumption and promote consumption to high quality has become a hot topic during the two sessions this year.

He Lifeng, director of the national development and Reform Commission, said in the "Ministerial channel" that promoting domestic consumption is mainly to increase the income of urban and rural residents through multiple channels and improve the ability and level of domestic consumption. At the same time, efforts should be made at the supply side to provide the market with more products and services that are cheap, high-quality and marketable for the urban and rural residents.

Some members of the representative committee focused on the rural consumption market. According to the data of the National Bureau of statistics, the per capita disposable income of rural residents in 2020 will be 17131 yuan, while behind the increase of farmers' income, it is the diversified and high-quality consumption demand.

Therefore, Zhang Jindong suggested that quality upgrading and experience upgrading should be taken as the main direction of rural commercial consumption upgrading, and the leading and leading role of large-scale retail enterprises integrating successful experience online and offline should be fully exerted.

"According to the data of the National Bureau of statistics, China's per capita disposable income has continued to rise in the past few years; and rural consumption is also a big market. If we can improve logistics and continue to improve rural hydropower problems, the home appliance market will be the first beneficiary industry." Zheng Mingju, an Yongda's partner in charge of retail and consumer goods industry in China, told 21st century economic reporter.

As a representative member of the food industry, Zhang Xuewu believes that in the process of establishing a new dual cycle development pattern, the food industry will usher in key changes and opportunities. Under the new development stage, the food industry should closely follow the consumption trend, improve the content of science and technology, enhance the high-end manufacturing capacity, lead consumption, create consumption and explore the potential of consumption growth with high-quality product supply and service, so as to form its own advantages.

It should be noted that the government work report mentioned that making good use of "Internet +" to provide consumers with more convenient and comfortable services and products is also the direction of new consumption from the supply side. In this year's motions and proposals of a number of science and technology representatives, we also pay attention to science and technology consumption, especially the sub field of smart pension.

One of the bills proposed by Yang Yuanqing, deputy to the National People's Congress and chairman and CEO of Lenovo Group, is to focus on the topic of "silver haired people" crossing the "digital divide". He suggested that at the product level, enterprises should be encouraged to launch intelligent terminal products that meet the needs of the elderly. At the service level, the online and offline integration of various Internet convenience services should be considered to facilitate the use of the elderly.

Li Yanhong, member of the National Committee of the Chinese people's Political Consultative Conference and chairman and CEO of Baidu, proposed to speed up the promotion of smart elderly care communities, including encouraging more intelligent devices to enter the community, and expanding and deepening smart elderly care services. Lei Jun, deputy to the National People's Congress and founder of Xiaomi company, proposed to promote the integration of digital services for the elderly into the construction of national information infrastructure as soon as possible, and guide the integration and development of technology for the elderly with emerging business forms such as smart home, smart community, smart travel, and smart healthcare.

Optimistic about new consumption segmentation trend

Since the beginning of 2020, the global economy has been seriously impacted. However, the fundamentals of China's sustained economic growth and long-term improvement have not changed. Therefore, when talking about the future development trend of China's consumer market, many industry insiders expressed optimism.

"From the recent data, the accumulated consumption power from the beginning of the epidemic in 2019 to now can see the trend of gradual outbreak." Zheng Mingju pointed out, "I believe that the state's goal of promoting domestic and international dual circulation by boosting consumption is unswerving. It is expected that the consumption trend in 2021 will continue to rise steadily. "

According to the National Bureau of statistics, the growth rate of China's total retail sales of consumer goods has recovered from a negative 19% in the first quarter of 2020 to a positive 4.6% in the fourth quarter of 2020. During the golden week of the Spring Festival this year, the sales volume of retail and catering enterprises in the National Spring Festival increased rapidly from negative 18.5% in 2020 to positive 28.7% in 2021. These figures are supporting the trend of gradual recovery of China's consumer market.

At the same time, new consumption is also sprouting and growing. Lin Jiang believes that the so-called new consumption can be understood from the new growth point and trend of consumption, new consumption formats and patterns. For example, service consumption such as culture and entertainment, health care, education and training is becoming a new hot spot of consumption. The proportion of service consumption in consumption expenditure exceeds that of commodity consumption.

At the same time, the consumption of different groups is more personalized, and quality consumption has become a new trend in the future consumer market. "The growth of the aging population makes the market scale of silver hair consumption continue to expand. With the increasing market acceptance of domestic brands, it has become a new consumption fashion among young people. Consumption has changed from "have you" to "good or not?" people pay more attention to the quality and taste of consumption. " Lin Jiang pointed out.

Zheng Mingju also believes that the emergence of new consumer groups is worthy of attention. For example, women's consumption, small town youth consumption, silver hair consumption and so on, "as long as we really understand the real needs of different types of consumers, it will not be very difficult to tap their consumption potential."

On the other hand, the Internet, mobile payment and other emerging technologies accelerate innovation and application, and the new business state and new mode of consumption formed by combining with traditional consumption patterns are developing rapidly. The epidemic has impacted the offline contact consumption, and accelerated the migration of offline consumption to online. Therefore, the innovation of new consumption formats and modes, such as live e-commerce and community e-commerce, has emerged in endlessly.

In this regard, Lin Jiang suggested that in order to further promote new consumption, it is necessary to speed up the construction of new infrastructure such as 5g communication, Internet of things and modern logistics, so as to provide solid support for the release of new consumption potential; accelerate the innovation and application of emerging technologies such as big data and artificial intelligence to realize the iterative updating of new consumption formats and modes; accelerate the digital transformation and upgrading of the industry and improve commodities And the quality of service supply to meet the diversified, personalized and high-quality consumer demand of consumers. Yang Qingqing, reporting group of the National People's Congress and the National People's Congress of China Southern finance and economics all media group reports from Beijing