Consumer Market Heat Remains Undimmed: Shanghai Issues 500 Million Yuan in Consumption Vouchers, JD Outlet Store Opens, Xiaomi Car Phase II Factory Construction Accelerates

Consumer Market Heat Remains Undimmed: Shanghai Issues 500 Million Yuan in Consumption Vouchers, JD Outlet Store Opens, Xiaomi Car Phase II Factory Construction AcceleratesNew Consumption Daily Report On September 25th, the new consumption market continued to be active, with several notable developments. The Shanghai municipal government announced that it will issue 500 million yuan in consumption vouchers targeting the catering, accommodation, film, and sports sectors, to help boost consumption recovery

Consumer Market Heat Remains Undimmed: Shanghai Issues 500 Million Yuan in Consumption Vouchers, JD Outlet Store Opens, Xiaomi Car Phase II Factory Construction Accelerates

New Consumption Daily Report On September 25th, the new consumption market continued to be active, with several notable developments. The Shanghai municipal government announced that it will issue 500 million yuan in consumption vouchers targeting the catering, accommodation, film, and sports sectors, to help boost consumption recovery. Meanwhile, JD and Hailan Group have joined forces to open a JD Outlet store, with the initial focus on sinking markets in multiple cities across China. Construction of the second phase of the Xiaomi car factory has progressed with some foundation work already completed, and the factory is expected to start construction as planned in 2024.

Consumption Vouchers Aid Consumption Recovery

The Shanghai municipal government press conference announced that Shanghai will issue "Le Shanghai" service consumption vouchers for four sectors: catering, accommodation, film, and sports, investing 500 million yuan in municipal funds. Of this, 360 million yuan will be allocated to catering consumption vouchers, 90 million yuan to accommodation vouchers, 30 million yuan to film vouchers, and 20 million yuan to sports vouchers. The issuance of these consumption vouchers is expected to effectively stimulate consumer demand and drive the recovery of related industries.

JD Outlet Store Opens, Expanding Offline Market

JD and Hailan Group have reached a strategic partnership and will open the first JD Outlet offline store in Jiangsu Province's Wuxi Jiangyin City at the Hailan Feima Water City, along with launching the official JD Outlet flagship store online. The two companies will integrate their supply chains to create online and offline sales channels, offering consumers discounted, authentic products from major brands in apparel, luxury, sports, shoes, and more. In the future, JD Outlet plans to open offline stores in multiple cities across China, further expanding its offline market.

Xiaomi Car Phase II Factory Construction Accelerates

The Xiaomi car Phase II factory is located in Beijing's Economic and Technological Development Zone, adjacent to the first phase factory that is already in production. Some foundation work for the second phase has been completed. According to plans, Xiaomi's automotive production facility in Beijing Yizhuang will be built in two phases, each with an annual production capacity of 150,000 vehicles. The accelerated construction of the second phase factory signifies Xiaomi's further expansion in production scale.

Seven Boss, a Streamer Under Three Little Sheep, Allegedly Conspired with Brand to Falsify Data

A former member of the Three Little Sheep team, "Zhong Xiaoer", has alleged that Seven Boss, a streamer under Three Little Sheep, was involved in data falsification when negotiating with the "Miga" brand for mask sales. Seven Boss is quoted in a video saying, "Set the price high, create a high-end image, one sale is one sale, and one sale is like ten sales normally." Miga and Seven Boss have yet to respond to this allegation.

WeChat Pay Palm Scanning Service Does Not Have Franchise or Agency Model

Tenpay has issued a statement clarifying that WeChat Pay's palm scanning service does not feature any form of franchise or agency model. The company has never authorized any organization or individual to recruit franchisees under the name "WeChat Pay palm scanning franchise" or similar.

Other Consumer Market Trends

• Fonterra has released its 2024 financial year performance statement, which shows an earnings per share of 0.7 New Zealand dollars and a post-tax profit of 1.168 billion New Zealand dollars.

• Juewei Foods responded to the news of selling milk tea, stating that it is a regional market innovation by a subsidiary company and will not be rolled out nationwide for the time being.

• Yum China's supply chain management center has begun operations, marking the largest self-built supply chain hub of Yum China in China.

• Dongfang Electric Group and China FAW Group have signed a strategic cooperation framework agreement.

• McDonald's has established a food company in Suzhou with a registered capital of 100 million yuan.

• Chengdu Metersbonwe Company is listed as an abnormal operation and is included in the list of abnormal operations.

• Reports suggest that the CEO of LVMH's retail division will leave the company.

• iQOO Z9 Turbo+ was launched, featuring the Dimensity 9300+ chip with full-core CPU architecture and supporting vivos self-developed Blue Heart large model, the Blue Heart Xiao V.

• Canon released 7 automatic double-sided G series printers.

• Hema Fresh and Changzhou Tianning District signed a strategic cooperation agreement.

• Pinduoduo's "Billions in Discounts" program has been upgraded, expanding the application scope of technical service fee refund rights from promotional products to all products.

• Cha Bai Dao opens another store in South Korea, quickly sparking a wave of Chinese-style milk tea among young Korean consumers.

• AR brand "LeTV Innovation" has completed its B+ and B++ rounds of financing.

• Midea Group announced that the company's 566 million H shares have been listed and traded on the Hong Kong Stock Exchanges Main Board on September 17, 2024.

• JD Super has launched the 3-100 plan for the personal care industry.

• Fliggy and the Hong Kong Tourism Board announced a new partnership to issue travel coupons worth over 100 million yuan.

• The average daily booking volume of inbound and outbound flight tickets during the National Day holiday increased by 155%.

• From September 1st to 22nd, retail sales of new energy vehicles in the domestic market amounted to 664,000 units, a year-on-year increase of 47%.

• In August, domestic smartphone shipments totaled 24.047 million units, representing a year-on-year growth of 26.7%.

These developments indicate that the new consumption market is continuing to thrive, and the consumption recovery trend is evident. Meanwhile, new technologies and business models are constantly emerging, driving continued innovation and growth. In the future, the new consumption market will remain vibrant and contribute to economic development.