CCTV News: The Central Economic Work Conference held recently proposed to actively develop the initial economy. The initial economy refers to the first time that an enterprise releases new products, opens its first stores, and launches new business forms, new models, new services and new technologies. Experts said that the initial economy will help more innovative goods and services enter the market and amplify the driving effect of consumption on economic growth.
In a shopping mall in Beijing that focuses on young consumption, a department store called "Mini Box" brings together hundreds of domestic fashion items from different categories, including domestic beauty, aromatherapy, cultural and creative products.
The company's head told us that they opened this first domestic store in October last year. Unexpectedly, the market feedback exceeded expectations and are currently preparing for other branches.
From a new business model and a new model to a new product, it can all become the highlight of the initial launch economy. The first-time launch economy originated from the first-time store economy, which initially refers to some foreign brands opening their first-time stores in China. Generally speaking, the first store debut show gathers the place's commercial vitality, innovation ability, fashion leadership, etc.; for consumers, the first-time economy brings new consumer experiences, and can also satisfy everyone's pursuit of new things and quality life.
This bookstore has innovatively set up a shared space, with a charge of 56 yuan per hour, and is equipped with a buffet meal, where consumers can read, work or chat.
New consumer business formats combine urban renewal and first-store innovation to bring more popularity to the entire business district. Data shows that Beijing expects to add more than 900 first-time stores to be launched in 2024, and has also launched 12 global first-time launch centers such as Wangfujing Pedestrian Street and Shougang Park; Shanghai has released 25 global first-time launch new landmarks such as Zhangyuan and Xintiandi. The Ministry of Commerce of China recently revealed that it will accelerate the issuance of policy documents to promote the initial economic development, guiding local governments to find the right position and develop the initial economic development according to local conditions.
