Copyright 2022 - Ningbo Life / Ningbo Expat

Consumer Market: the Long-lost "City Fireworks" Is Back

In the summer, the public's enthusiasm for consumption heats up. (Photo by Wang Jianbo and Sun Jiali)

 In order to rekindle the "urban fireworks", Ningbo has restarted the issuance of consumer coupons from the end of February. In April, the General Office of the Municipal Government issued the "Several Measures to Stabilize the Chain and Help Enterprises in Ningbo". With the implementation of a series of bailout policies in the consumer sector, Ningbo's consumer market rebounded rapidly. Data released by the Municipal Bureau of Statistics shows that from January to May, the city's total retail sales of consumer goods reached 175.25 billion yuan, a year-on-year increase of 2 places in the province. Among them, the consumption recovery momentum in May was good, and the recovery rate of social zero was better than that of the whole province and the whole country. In terms of industries, industries such as home appliances and catering are gradually recovering, and new consumption fields such as live broadcast e-commerce are in full swing.

 Real money helps home appliance companies "buck the trend"

 Since the beginning of this year, the home appliance retail industry has generally been sluggish, and Ningbo is no exception. Promoting the consumption of household appliances is not only an important measure to actively expand domestic demand, but also an inevitable move to comply with the trend of consumption upgrading. To this end, based on the upgrading needs of home appliance consumption, the city creates more levels of demand with higher levels of supply, and at the same time increases the power of financial capital to further release the consumption potential of the home appliance market.

At the end of February, Ningbo began to issue the first phase of consumer coupons, including 20 million yuan of consumer coupons for home appliances. The real money is smashed down, and the effect is immediate. At the same time, various home appliance companies in our city have created more levels of consumer demand by optimizing supply-side services.

 Targeted efforts to help catering enterprises "climb over the hurdles"

 Consumer coupons are not only driven by the home appliance industry. In the first half of this year, the municipal and district levels invested 660 million yuan in financial funds to carry out three phases of consumer coupon issuance activities. The total number of participating merchants reached 204,000, and nearly 10,000 enterprises were targeted for rescue, directly driving consumption of over 4.7 billion yuan. The relief effect is most pronounced in the catering industry.

In mid-June, the Municipal Bureau of Commerce and the Municipal Bureau of Finance issued detailed rules for the implementation of special funds, focusing on supporting catering enterprises to develop online catering services, brand building and expanding service channels, so as to promote the relief and development of the catering industry.

 Accumulating power to promote live broadcast e-commerce "vigor burst"

 According to statistics from the Municipal Bureau of Commerce, in 2021, the sales of live broadcasts on the entire network in Ningbo will reach 56 billion yuan, a year-on-year increase of 70%, showing a rapid growth trend. However, in the first half of this year, although the live broadcast penetration rate increased by 5 percentage points over previous years, the growth rate slowed to 40%.

In order to promote the "speeding up" of the live broadcast e-commerce economy, Ningbo has issued an implementation plan to promote the high-quality development of the live broadcast e-commerce economy based on its own actual conditions, focusing on supporting the construction of a live broadcast e-commerce economic development system. In March this year, Ningbo also issued detailed rules for the implementation of support funds for the economic development of live broadcast e-commerce

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