JLL recently released "How urban development and new consumption resonate in frequency", showing that new consumption is reshaping China's retail, urban texture and economic pulse. In the context of expanding domestic demand becoming the top priority of China's economy, how market stakeholders and urban operators can be at the same frequency as the new consumption trend and further tap their potential is a must-answer question.

  The report said that in the consumption field, market forces occupy an important position and can effectively promote supply innovation, including consumer infrastructure financial innovation, consumption scenarios and brand innovation, and consumer segment innovation. In addition, expanding opening up, creating an international consumption environment, and fully introducing inbound tourism consumption are also important factors in releasing consumption potential. Strengthening the construction and upgrading of urban shopping centers and consumption infrastructure can not only effectively improve service levels, but also enhance the city's business card effect, enhance international communication functions, and thus promote consumption growth at a deeper level.

  As the sinking market becomes the basis of the domestic consumer market, the county market will continue to release the potential for consumption growth in the future. In recent years, with the accelerated expansion of stores for businesses such as catering, culture, entertainment, and life and leisure, online consumption has grown rapidly and the rural revitalization strategy has been deepened. The sinking market will continue to release multi-level consumption demand, becoming a solid foundation for my country to expand domestic demand.

  Since the state approved the first international consumer center city construction in Shanghai, Beijing, Guangzhou, Tianjin and Chongqing in 2021, the introduction of new products in the first store, the upgrading of business districts and streets, the integration of business tourism and culture, and the development of fashion and creative curation of commercial businesses have become the focus of development of the consumer industries in various cities. Exploring local characteristic resources and creating urban consumption business cards has become the highlights of the construction of various cities. From a micro perspective, supply guidance, demand evolution and scenario innovation have become the main driving force for innovation in the consumer field.

  The report pointed out that with the acceleration of China's consumption towards newness and urban renewal, the main carriers of consumption activities have expanded from cities to more diversified markets and channels. In this context, relevant spatial forms, functional layouts and consumer insights are crucial to releasing consumption vitality. For urban planners, commercial operators and retail brand operators, we should actively grasp the consumption laws, adapt to increasingly diversified needs, and innovate and cultivate a new consumer market, so that more residents can consume, dare to consume, and willing to consume, so that new consumption becomes a key link and important engine for smooth domestic circulation.

[Editor in charge: Li Lin]