Looking for “change”, “newness” and “excellence”, we strive to sprint into the fourth quarter and realize “acceleration” in consumption.
According to a report by CCTV News, the National Bureau of Statistics has released data indicating that China’s consumer market has maintained a steady growth trajectory in the first three quarters of the year, with dining revenues reaching 39.415 billion Yuan, a 6.2% increase. What are the new highlights in the dining market? How can we stimulate consumer vitality? Let’s delve into some observations from our reporter.
**Innovation to Meet Diverse Consumer Needs**
On a recent weekend morning, our reporter visited a spicy soup shop near a university in Beijing, where the atmosphere was buzzing with activity. The owner shared that their brand recognition in Beijing has been steadily increasing, prompting adjustments to their menu offerings. On average, the shop sees daily sales exceeding 20,000 Yuan.
A recent report by the Beijing Dining Association highlighted impressive growth in new registrations in districts like Chaoyang, Changping, and Fengtai. There is a noticeable rise in the number of new dining establishments, with diverse forms of eateries emerging, including small shops that cater to everyday customers.
**Focusing on Creating Cultural Dining Experiences**
This year, many traditional dining establishments have begun focusing on creating cultural experiences. In Wuhan, Hubei Province, certain restaurants have embraced the aesthetics of Chu culture, featuring replicas of cultural artifacts like the sword of King Goujian and bronze drums that transport customers to a museum-like setting.
As younger consumers become the main demographic, expectations have shifted beyond just the food; diners are now also valuing the ambiance and social environment. For example, in the Suyifang village of Gaoqing County, Shandong Province, visitors can stroll through lush rice paddies while enjoying scenic views from bamboo rafts.
**Innovating to Preserve Culinary Memories**
As night falls, stepping into the historic cultural district of Sanjie Liangxiang in Nanning, Guangxi, the air is filled with the unique spicy and sour aromas of “Old Friends” dishes. This time-honored restaurant, nearly 80 years old, has become a bastion of culinary memory for many long-time Nanning residents, creatively innovating on classic flavors while staying true to its roots.
The first half of this year saw a surge in the registration of dining establishments across China, totaling 1.3166 million.
Data from the “2024 China Restaurant Franchise Industry White Paper” shows that snack and beverage enterprises remain a focal point for market investment, making up 72.2%—an 8.9 percentage point increase from 2022. The restaurant association’s figures indicate that new registrations in the dining industry reached 1.3166 million in the first half of 2024.
**Accelerating Consumption: New Cultural Tourism Experiences**
As we enter October, the vibrancy of autumn can be felt across China, with various regions enriching their cultural tourism offerings, leading to a bustling market for fall tourism.
In Zhejiang’s Tongxiang, audiences flocked to the Wuzhen Theater Festival, where hundreds of international performance groups transformed the scenic spots of Wuzhen into vibrant stages, delivering over 2,000 exciting performances.
In Beijing, the ongoing “ChaoYang International Light Festival” has illuminated the Olympic Center, where a lively marketplace draws crowds enjoying international cuisine alongside dazzling light displays and traditional performances.
In Xinjiang’s Bachu, the 14th Poplar Cultural Tourism Festival showcases a smorgasbord of culinary delights, particularly the regional barbecue offerings that include entire roasted camels and other local specialties, appealing to both sight and taste.
**Engaging in Autumn Tourism**
As various regions welcome the ideal backdrop for fall tourism, attractions in Jilin, for instance, have created stunning routes lined with colorful leaves, enticing residents and visitors alike with their photographic opportunities.
In Liaoning’s Benxi, the abundance of maple trees has led to a significant uptick in tourism, with the area witnessing a 43% increase in visitors who came to enjoy the foliage this autumn.
As fall progresses, Gansu’s Longnan city is drawing crowds to its ancient ginkgo trees, where local tourism ventures create immersive experiences centered around eating, drinking, and enjoying the seasonal beauty.
**Accelerating Consumption: Enhancing Experiences**
With the arrival of autumn and a significant drop in airline ticket and hotel costs after the National Day holiday, this season marks an optimal time for travel, reinvigorating consumer enthusiasm.
The post-holiday travel scene at Nanjing’s Lukou International Airport reflects a surge in middle-aged and older travelers opting to travel during weekdays.
Booking data indicates that 64% of the silver-haired demographic are choosing to travel during the workweek, significantly higher than other age groups. In fact, travelers aged 55 and above have shown a notable increase in ticket purchases.
Furthermore, the trend is shifting from budget group tours to customized small-group travel experiences, particularly from travelers based in major cities like Beijing, Shanghai, and Shenzhen. This year sees a marked increase in bookings for more upscale accommodation, as older travelers seek enriched experiences.