People’s Network Research Institute released ＂Observation Report on Hot Trends of Service Consumption in 2024＂

People’s Network Research Institute

People’s Daily Online, Beijing, December 9 th Today, the 2024 National Consumption Conference was held in Beijing People’s Daily with the theme of "New Scenes, New Vitality and New Trends". Liu Zhihua, vice president of People’s Network Research Institute, released the "Observation Report on Hot Trends of Service Consumption in 2024" (hereinafter referred to as "Report") at the meeting.

Liu Zhihua, vice president of People’s Network Research Institute, released the main content of "Observation Report on Hot Trends of Service Consumption in 2024"

According to reports, China is currently in the stage of rapid growth of service consumption, and service consumption has become an important incremental source of household consumption. In 2024, by optimizing and expanding the service supply, all localities will enhance the consumption experience and further release the consumption potential, and the trends of more diversified services, expanding scenarios and cross-border integration of multiple formats will become increasingly prominent, which will better meet the personalized, diversified and quality service consumption needs of the people.

By combing and analyzing the hot topics of service consumption in 2024, the Report puts forward ten trend words of service consumption in China in 2024.

First, the trend words of consumer fashion: Chinese aesthetics, cultural inheritance. Related hot words include "new Chinese style" tea and "new Chinese style" wedding. Recently, Li Ziqi returned to the public view as a "creator of traditional culture", and his works once again aroused the upsurge of attention to traditional culture. In recent years, the influence of traditional culture on consumption fashion has been continuously enhanced, and concepts such as "national style", "national tide" and "new Chinese style" have spread all over many consumption fields and scenes. For example, "New Chinese Style", as a design concept integrating traditional cultural connotation and modern aesthetic trend, has risen rapidly in the consumer market.

The second is the trend word of consumption format: cross-border mashup, organic integration. Related hot words include "supermarket canteen", business travel literature synthesis, lottery coffee shop, traveling with events and so on. In recent years, there are more and more cases of multi-format mixed operation in the same space, such as "supermarket+canteen", "lottery shop+coffee". By providing diversified services, the effect of "1+1>2" is achieved. At the same time, the organic integration of cultural, business and travel formats has deepened, and the development of "traveling with events" and "traveling with performances" has accelerated.

The third is the trend words of consumption scenes: street life, fireworks on earth. Related hot words include "market catching up with big gatherings", "backstreet economy", "20-minute park effect" and "everything can be marketed". In 2024, slow pace and relaxation are still important consumption pursuits, and local surrounding consumption scenes are further concerned. Concepts such as "vegetable market catching up with big gatherings" and "backstreet economy" came into being, and young people began to turn their attention to the local circle just a stone’s throw away. On the other hand, some food markets, parks and markets that have become popular on the Internet have also begun to enter the field of vision of foreign tourists and become popular punching places. Tourists’ destination choice no longer focuses on traditional tourist attractions, but takes into account the zero-distance experience of street customs in order to feel the local culture more deeply.

Fourth, consumer engine trend words: IP+ online celebrity, multi-point embedding. Related hot words include Black Myth: Wukong and My Altay. In 2024, cultural IP and online celebrity IP are still outstanding in driving and driving consumption, becoming an important "consumption engine". Online celebrity personal IP, game IP, film and television drama IP and other IP multi-dimensional empowerment consumption scenarios.

Fifth, the word of regional trend of consumption: big cities and small counties, going in both directions. Related hot words include characteristic blocks and county tours. In 2024, the business circle of large and medium-sized cities will remain the focus area of urban consumption, and it will increasingly become a comprehensive service area integrating experience, leisure and socialization. At the same time, county consumption is showing new vitality. According to the platform data, in 2024, the number of county coffee take-away orders of Starbucks and other brands increased by 97% year-on-year. In terms of tourism, more residents of small cities below the third line go abroad. At the same time, the county has also become an important consumption destination.

Sixth, consumer supply trend words: innovation and change, holographic sense. Related hot words include terrace economy and low-altitude tour. All localities actively promote the creation of new service consumption scenarios and new formats, and stimulate consumption potential through innovative consumption supply. For example, Jing ‘an District of Shanghai promotes the commercial complex to extend from the ground to higher terraces and rooftops, and creates a "terrace economy" that integrates night shopping, night eating, night entertainment, night show and night movement. Special tourism products such as cruise yachts, RV camping and low-altitude flying will also accelerate in 2024.

Seventh, the trend words of consumer groups: youth leads, and silver-haired people "catch up with the tide". Related hot words include "consumption by stalk", sports socialization, and micro-short dramas for middle-aged and elderly people. College students and other youth groups still play a leading role in the consumption process. On the one hand, influenced by popular culture and hot topics, the hot search for hot goods on e-commerce platforms has a "resonance" effect with the hot words on social media platforms. On the other hand, youth groups often bring new ways of playing and give new connotations to traditional consumption scenes. At the same time, with the development of silver-haired economy, the consumption potential of groups such as "new old people" with strong economic strength and diverse concepts has attracted attention.

Eight is the trend word of consumption concept: intellectual consumption, paying for happiness. Related hot words include quality-price ratio, "peak-shifting trip" and emotional value consumption. In terms of consumption concept, "only choose the right one, not the expensive one" and "quality-price ratio" have become consumers’ choices, which not only pursue quality, but also reject unreasonable premium, paying more attention to rationality and sustainability of consumption behavior. While pursuing rational consumption, consumers, especially young people, do not hesitate to pay for happiness, and emotional value consumption is still a high-frequency word. Relevant research shows that consumption for emotional value is still the most important choice for young people, which is higher than consumption quality, cost performance and other options.

Nine is the trend word of consumer service guarantee: standardize development, improve quality and upgrade. Related hot words include "China Travel" and so on. In 2024, many places will focus on key areas such as cultural tourism and transportation, and launch more convenient, refined and intelligent services to further upgrade consumer protection.

Ten is the consumption potential track trend words: all-year-old friendship, small beauty specialization. Related hot words include silver-haired economy, lazy economy and nursery service. In the future, with the diversification of consumer demand and consumer proposition, more diversified consumer products and services, more customized consumer scenes and spaces, and more differentiated consumer formats and modes will become the development trend. The "lazy economy", "single economy", "maternal and child economy" and "silver hair economy" which meet the needs of different groups and levels will continue to develop at a high speed. The service format of "Xiaomei Specialization" will emerge more.

The 2024 service consumption hotspot trend observation report is the following report: the consumption image research report of Shenzhen, Chengdu, Suzhou, Nanjing, Wuhan and Hangzhou, the consumption observation report of the Spring Festival in 2023, Xiamen’s "Covenant between mountains and seas": sports define fashion sports to promote consumption, the consumption image report of Shenyang, Harbin, Changchun and Dalian, and 2023. (Liu Shan)

Link to full report:

Observation Report on Hot Trends of Service Consumption in 2024