Economic report of pedestrian street in 2019 From Alibaba

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The following is the Economic report of pedestrian street in 2019 From Alibaba recommended by recordtrend.com. And this article belongs to the classification: China’s economy, research report.

The pedestrian street is the business card of a city. Nowadays, digitalization is making the traditional pedestrian street present new vitality: new brands, local products and time-honored brands can be purchased by scanning the code or face, and can also be sent home by Taobao tmall with one click; food restaurants, tourist attractions and celebrities’ former residences can be reserved online without queuing; the AR fitting and make-up of brand stores are booming

At the end of 2018, the Ministry of Commerce launched the first batch of pilot projects in 11 pedestrian streets across the country. From Jianghan street, the “20th century architecture museum” in Wuhan, to the Confucius Temple in Nanjing, where the “Jinling Lantern Festival” is held on traditional festivals, to Kuanzhai alley in Chengdu, which gathers Sichuan cuisine These pedestrian streets are all over the country, and each has its own advantages. It is a unified proposition to obtain new growth through digitization.

According to the economic report of Alibaba pedestrian street in 2019 (hereinafter referred to as the “report”) released on January 7, from October 2018 to October 2019, 11 pilot pedestrian streets experienced vigorous new consumption, with offline consumption increasing by 36.7% year-on-year, significantly ahead of the zero social growth rate in the same period; the total passenger flow increased by 23.3% in October, showing a positive trend of more young people and more active nighttime consumption.

The research shows that the off-line business represented by pedestrian street has a huge new growth space. Through improving the digital business infrastructure, improving the consumption experience, and promoting the business efficiency with digital solutions, will become the future path for more “old street freshmen”.

Digitalization makes “old street new”: passenger flow and consumption increase in 11 pilot pedestrian streets of the Ministry of Commerce

Pedestrian street is the gathering area of urban commercial resources, which concentrates large and small shops and various formats, and plays an important role in promoting consumption. According to the report, as of October 2019, the number of consumers in 11 pilot pedestrian streets has increased by 15.5% year-on-year, and the unit price of consumers has increased by 18.3%.

Among them, Nanjing Road in Shanghai, Jianghan Road in Wuhan and Jiefangbei in Chongqing have the strongest consumption power, leading in the total consumption amount. Wangfujing in Beijing, Nanjing Road in Shanghai and Jiefangbei in Chongqing are the “most moated pedestrian streets” with the highest passenger price. Kuanzhai alley in Chengdu, Nanjing Road in Shanghai and Hubin Road in Hangzhou are the most attractive to young people, ranking among the top three in terms of young passenger flow. Wuhan Jianghan Road, Guangzhou Beijing Road, Shenyang middle street accounted for the highest proportion of young consumers.

Taking the lakeside pedestrian street as an example, “wisdom” is a highlight of the lakeside pedestrian street. Based on the intelligent guidance system of Alibaba cloud’s “city brain”, tourists can see the number of empty cars in the nearby parking lot, the food ranking list in the pedestrian street, the tour time of the West Lake cruise ship, and the frequency of music fountain in real time, thus greatly optimizing the consumption experience.

Food and beverage consumption is the most important part of pedestrian street. Digitalization helps catering businesses achieve online and offline growth. According to the report, Kuanzhai alleys in Chengdu, Jianghan Road in Wuhan and Confucius Temple in Nanjing have become the favorite food with local characteristics, and the catering consumption accounts for the top three. Word of mouth data show that the post-90s have carried the banner of catering consumption in Kuanzhai alleys, accounting for more than 43%.

Say goodbye to “one side of a thousand streets”: commercial upgrading from standard configuration to rigid demand

In the era of digital economy, the personality of pedestrian street is more distinct and its characteristics are enlarged. The report points out that each of the 11 pilot pedestrian streets has its own advantages: Jiefangbei is the king of popularity in terms of passenger flow; Kuanzhai alley is the most popular street in terms of passenger flow structure; the city of Datang is worthy of its name for its activity of passenger flow at night; Nanjing road is worthy of a “consumption paradise” in terms of consumption amount; Wangfujing is far ahead in terms of the degree of “boldness”.

The development of pedestrian street is also better integrated with the future of the city. Hangzhou recently issued the “Hangzhou new retail development five year action plan (2019-2023)” to actively promote the application of big data, cloud computing, artificial intelligence and other technologies, and promote the upgrading of business innovation.

There are 8 historical and cultural relics and 13 time-honored brands in Hangzhou Hubin pedestrian block. According to the plan of Hangzhou, it will be featured by “new retail”. On January 18, 2018, HEMA Xiansheng settled in jiebaixin Yuanhua, which opened the prelude to the new retail of Hubin pedestrian street. As of January 7, 2019, Hubin pedestrian street has 59 innovative retail formats, 56 international famous brands, and 32 first-line brand flagship stores or first stores. The total amount of Hubin business district has increased by more than 10% for five consecutive years, and Hubin pedestrian street has contributed one third.

New retail and new business form HEMA Xiansheng will open a new store in Nanjing Xinjiekou on January 12, 2020. In the past year, HEMA has continued to “run wild”, breaking through 200 stores and entering the core business districts of Beijing, Shenzhen, Hangzhou, Guangzhou, Xi’an, Wuxi and other cities. Among the 11 pilot pedestrian streets, in addition to Hangzhou Hubin pedestrian street, HEMA has also settled in Nanjing Confucius Temple, Xi’an Datang night city, Guangzhou Beijing Road, etc., to promote the improvement of digital business infrastructure, and to bring the double upgrading of shopping experience and quality of life for tourists and surrounding residents.

Have confidence in the future: night economy glows, small shop economy flourishes

Behind the economic growth of pedestrian street is the improvement of business confidence.

The Ministry of Commerce pointed out that 11 pedestrian streets have transformed more than 800000 square meters of commercial carriers, introduced more than 900 well-known brands at home and abroad, and added more than 80 flagship stores and first stores. “Alibaba’s analysis shows that the passenger flow and unit price of 11 pedestrian streets have increased significantly, with more young people and more active nighttime consumption.”

The pedestrian street, which integrates consumption, tourism and cultural elements, enriches the night consumption experience through digitization, and forms a new growth point of night economy. According to the report, from 18:00 to 19:00, the passenger flow and the number of payments on the 11 pilot pedestrian streets were peak all day. In September 2019, the overall nighttime activity of 11 pilot pedestrian streets increased by 1.5 percentage points year-on-year and 2.0 percentage points in October. Among them, Xi’an Datang never night city and Nanjing Confucius Temple become the most popular pedestrian streets at night, and both the number of payment and the activity of night passenger flow are among the top.

The executive meeting of the State Council held on December 30, 2019 pointed out that the transformation and upgrading of pedestrian street should be combined with the development of “small shop economy”. According to the analysis of Internet banking and Alipay, over the past year, the number of small shops made up of online shops, street shops and roadside stalls was about 100 million, and the economic vitality and health level exceeded expectations; the daily average running rate of shops under 30 thousand yuan or less was 35%; more than half of the stores increased their employees in 2019, and 300 million of them were expected to be supported. 99% borrowed and returned. With the Spring Festival approaching, they are confident about the future, and 87% of small shop owners think that business will be better next year than this year.

According to statistics, the national business area is more than 2100 pedestrian streets and commercial streets with an area of more than 20000 square meters. What is the future pedestrian street like? Recently, word of mouth announced the construction of the first smart word of mouth street in Beijing to help merchants along the street realize cost reduction and efficiency through digitization; box room is reacting with pedestrian street to provide better services through smart supply chain Digitization is making “thousands of streets and thousands of faces”, and opening up new growth space for embracing digital pedestrian street.

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