19 Measures to Promote Consumption Expansion and Quality, Consumer Electronics Enterprises How to Seize the Opportunity

Consumption has become the primary driver of China's economic growth. In 2019, the contribution of domestic demand to economic growth was 89%, of which the contribution of final consumption expenditure was 57.8%. Since the outbreak, due to the need of epidemic prevention and control, people's travel has been restricted, and the consumption of catering, accommodation, culture and entertainment, and tourism and leisure has been greatly reduced. On the demand side, the epidemic has had a significant impact on consumption.

To release suppressed, frozen consumption, put in the epidemic prevention and control of the new type of consumption, upgrade, cultivating, 23 National Development and Reform Commission and other departments jointly issued by the "about promoting consumption expansion to speed up the formation of strong domestic market quality of the implementation opinions", from the market supply, the upgrading of consumption, consumption, ecological consumption, consumption ability and consumption environment focus on six aspects, involving consumption chain upstream and downstream of the supply and demand and at both ends, article 19. Measures are put forward

Focusing on consumer electronics, RUNTO believes that enterprises can start from the following aspects to seize the opportunities in this round of consumption expansion and consumption upgrading.

First, strengthen the construction of independent brands. The implementation opinions put forward the protection and development of Chinese time-honored brands; Shape the image of Chinese brands, improve the awareness and influence of independent brands. The field of consumer electronics has changed from a seller's market to a buyer's market. With brand and quality surpassing price becoming the focus of consumers, strengthening brand building, innovating and keeping pace with The Times will become the key for enterprises to obtain lasting competitiveness and an important means to enhance international competitiveness.

Second, we will accelerate product transformation and upgrading. The implementation guidelines encourage enterprises to use technologies such as the Internet of things, big data, cloud computing and artificial intelligence to promote the intelligent upgrading of various electronic products. With the development of 5G, the Internet of things, artificial intelligence and other technologies, the consumer electronics industry, represented by 5G terminals, flexible display, ultra-high-definition and virtual reality industries, will enter the fast track of development. On the one hand, enterprises should speed up the intelligent upgrading of products to prepare for the arrival of the Internet of everything era. On the other hand, new technologies will be applied to products to enhance the competitiveness of products and services.

Third, we will promote online and offline integration. The implementation opinions proposed to encourage qualified cities and enterprises to build a number of new consumption experience pavilions integrating online and offline, so as to promote the popularization and application of new consumption forms, models and scenarios. The new retail model of online and offline integration is under exploration. Under the new retail model, traditional retail and e-commerce can accommodate and complement each other, display and sell goods online, and provide offline experience, as well as solve the last mile problem and after-sales service online. Online and offline mutual drainage, stimulate market vitality, at the same time, reconstruction of consumption patterns.

Fourth, continue to push the channel sinking. The implementation opinions proposed to reduce the cost of using rural information network; We will enrich the supply of commodities suitable for rural consumers and improve the supply channels. With the continuous development of mobile Internet, low tier cities income level unceasing enhancement, sinking further stimulate the market flow, low tier cities consumers' willingness to continuously emerging, at the same time, the line city traffic dividend is gradually disappear, looking for a new flow incremental become top priority in the development of enterprises, sink potential market consumption should be paid attention in the further.