China News Service, March 26. The 2024 Annual Meeting of the China Development Forum will be held on March 24-25, 2024. The "Seminar on New Consumption and Domestic Demand Potential Release" was held on the afternoon of March 25. Sima Hong, deputy mayor of Beijing, said in her speech in the "Keynote Speech One" session that new business formats and new models spurred by the Internet and digital technology New consumption such as new products, new brands and new scenarios is an important manifestation of new productivity in the field of consumption and has become a new driving force for economic development. Beijing presents four major characteristics in building an international consumption center city and releasing the development potential of new consumption:
First, in line with the trend of networked and information-based consumption, new business formats such as live streaming e-commerce, instant retail, and community group buying are booming. In 2023, Beijing will achieve online retail sales of 545.8 billion yuan, accounting for 40% of total retail sales, 10 percentage points higher than the national level.
Second, in line with the trend of intelligent experiential consumption demand, contactless business models such as smart business districts are developing rapidly. It has opened up online and offline channels and driven the digital and intelligent transformation of physical sales.
The third is to comply with the trend of quality and personalized consumption, and the rise of time-honored brands and new brands is accelerating. A total of more than 300 new consumer brands have been cultivated, and time-honored brands have been continuously promoted to renew their vitality.
The fourth is to comply with the trend of immersive integrated consumption, create a number of new scenarios, and innovate to promote the integrated development of diversified consumption. More than 3,000 business, cultural, tourism and sports consumption activities are held every year.