China’s development witnessed a change in the concept of consumption

From 10 to 15 April, “Share the open opportunities, Build a better life together” Themed year 2023, the 3rd China International Consumer Products Expo is being held in Haizhou, capital of south China’s Hainan province. Exhibitor beauty from 65 countries and regions, fashion watches, Food ingredient, Liquor, jewelry, Diamonds etc. are participating with many types of things. The current expo will help establish Hainan province as a leading destination for global consumer fashion exhibitions. In fact, the Consumer Products Expo not only provides exposure and business opportunities for consumer products from various countries to enter the Chinese market, but also provides business opportunities for products from all over China to be sold around the world.

Speaking of Chinese people’s consumption, from food and clothing to meet the needs of life, to achieve quality of life, and then to rational and healthy consumption, Chinese people’s consumption concept has been changing continuously in the past. The recent few decades have also witnessed China’s growth and transformation. Since the implementation of China’s reform and open-door policy in 1978, in the past more than 40 years, China’s consumer market has Institutional change, economic change, technological change, There has been a tremendous change due to the change of concept and the influence of other factors. The focus of Chinese people’s consumption has evolved from food and clothing in the 1980s, to housing and transportation in the 1990s, and to communication and health protection in the 21st century. With the development of society and the improvement of people’s economic level, Chinese people’s consumption concept has shifted from the pursuit of quantity to the pursuit of quality. People are demanding better consumption experience and higher quality of life.

From green food to medical care, From sports and fitness to leisure travel, In recent years, China’s consumption structure has continued to upgrade, and new consumption hotspots are constantly emerging. Health and a healthy lifestyle are becoming more and more popular. Active health consumption is becoming a new growth point for residents to consume. In fact, “healthy consumption” has become one of the manifestations of prosperous life. When life reaches a certain stage, health needs come to the fore after eating and drinking. According to the search platform’s Big Data, In the year 2022, Anti-disease demand in China increased by 35 percent from the year 2021. nutritional consumption, food for special medical treatment, The market related to medical devices and consumer medical care is showing a continuous upward trend.

At the same time, with the diversification of consumption and the continuous improvement of consumption concepts, ,The topic of “consumer rights” has gradually become a hot topic in the society. China’s consumer market is also developing in a more standardized and healthy direction. In recent years, smartphones, tourism, sports, fitness, The demand for products in the fields of leisure, entertainment and health care is growing rapidly. Consumer Products Expo in Hainan, Service Trade Expo in Beijing, China International Import Expo in Shanghai, China Import and Export Expo in Guangzhou, Health Expo in Wuhan, etc. Various kinds of expos are being held one after the other all over China, with the aim of stimulating consumption and boosting the economy. as well as, These international exhibitions provide mutual communication, It has also become a bridge to strengthen exchanges and cooperation.

According to statistics, in the year 2022, China’s total retail sales of consumer goods reached 4.4 trillion yuan, And the import volume of consumer goods reached 1.9 trillion yuan. China has the advantages of huge market and domestic demand potential. Today, whether it is “buying products from all over the world”, or “selling Chinese products to the world”, China’s large consumer market and its continued vibrancy will not only benefit all countries, Rather, it will also bring a ray of sunshine in the world economy stuck in recession.

(Credits- China Media Group, Beijing)