Blue Book of 2021 Shanghai Consumer Market Big Data (hereinafter referred to as the Blue Book) was released by the Consumer Market Big Data Laboratory (Shanghai) recently.
According to the Blue Book, retail sales of consumer goods in Shanghai reached 1.81 trillion yuan in 2021, ranking first among Chinese cities, and household consumption and female consumption accounted for nearly 40% of offline retail consumption. Last year, 1,078 new stores were opened in Shanghai. The city ranked first in China in terms of “nightlife economy index”. Visitors from outside of the city contributed nearly 600 billion yuan to Shanghai’s consumption.
The Blue Book, rich in graphic and data, includes an overall report on the development of Shanghai's consumer market in 2021, and six special research reports on various aspects of the consumer market, providing important reference for government decision-making, industrial research and enterprise development.
“The Blue Book not only reviews the overall performance of Shanghai's consumer market in the past year, including its characteristics, highlights and achievements, but also points out possible directions for the development of Shanghai's consumer market this year,” said Zhang Yina, director of the Consumer Market Big Data Laboratory (Shanghai) and professor at School of Social Development and Public Policy, Fudan University.
How can we drive the growth of Shanghai's consumer market in 2022?
Consumption also has its own peak seasons and low seasons, Zhang said. The city will hold promotional events featuring different consumption themes each month according to the trends in the overall consumer market and various consumer categories.
Shanghai is a city of innovation. Innovation is also the driving force of commercial development and consumer market. But, how can we promote consumption through innovation?
She said, the researchers can find out key growth points of consumer markets through big data, and put forward concrete steps based on these points. In the Blue Book, the team has also revealed Shanghai's effort in building a central hub of the “dual circulation” development pattern. The book covers topics such as high-end consumption, “first-release” economy, nightlife economy, policies to promote consumption, consumption exchanges between Shanghai and major domestic cities, as well as tax rebate and exemption.
At the end of the Blue Book, the researchers also present their vision for the consumer market in 2022.
In 2021, Shanghai's consumer market has already been growing rapidly. How can it achieve further growth under the pressure brought by the macro-economic situation and the COVID-19 pandemic this year? We have offered our vision for this aim. Zhang said, “We hope our lab can boost and witness the development of Shanghai and transform it into a hub of consumption.”
As the first laboratory for consumer market big data in China, the Consumer Market Big Data Laboratory (Shanghai) was initiated by Fudan University in September 2020 and approved by the Ministry of Commerce, Shanghai Municipal Commission of Commerce and Shanghai Municipal Bureau of Statistics.
Since its establishment, the laboratory has been committed to boosting the transformation of Shanghai into an international consumption hub, and serving as a think tank with its strengths in theoretical research, data and technology.
