The report shared today is: 2023 China New Retail***
Featured Reports**: Industry Report Think Tank.
Abstract: According to the report, the consumer goods, retail, and financial services sector accounted for more than a quarter of the total wealth of billion-dollar entrepreneurs in 2023, demonstrating its significant position in the global entrepreneur wealth**. The size of China's high-end consumer market has reached 1At 65 trillion yuan, high-end consumption highlights strong resilience, reflecting the continuous pursuit of high-quality products by Chinese consumers.
Consumers' demand for quality upgrading has not decreased, and at the same time, they pay more attention to real needs, showing a rational consumption attitude. Gen Z has higher requirements for immediacy and likes to explore the unknown, while Gen Y focuses on experience, and Gen X pays more attention to green and sustainable consumption.
E-commerce platforms and shopping apps have become the main channels for consumers to purchase goods, and the rise of instant retail has also met consumers' immediate consumption needs. According to the report, instant retail platforms have become the first choice of consumers, offering a wide variety of product choices and fast delivery services, and becoming a new engine to promote the improvement of quality of life.
Consumers have high expectations for the metaverse, believing that it will allow them to learn more about innovative, high-quality products and enjoy a more interesting shopping experience. This also means that with the continuous development of metaverse technology, the retail industry will usher in more room for development and more new product and service scenarios.
The report also points out that technologies such as artificial intelligence, virtual reality, cloud computing platforms, digital logistics and flexible ** chains will become an important support for the future of retail. These technologies will further enhance the shopping experience and meet the growing personalization needs of consumers.
Excerpts from the report are set out below.