Second, the impact of online shopping, including Pinduoduo's low-price sales and the rise of live-streaming e-commerce, has made online shopping a mainstream consumption method. It is cheap and fast, which has had a huge impact on offline traditional department stores.
Third, the increasingly high operating costs, amidst the downward trend in luxembourg whatsapp number data 5 million, have created tremendous operating pressure on tenants. When combined with commodity prices, they have lost value for money and affected consumer purchasing intentions.
Outlet sales are rising steadily. The logic behind this is that outlets cater to the current consumption downgrade and have several main advantages:
First, well-known brands and discount advantages provide consumers with high-quality, high-quality-price-performance products.
Second, it has a clear positioning, focuses on the mid-to-high-end discount market, and competes in a differentiated manner with traditional department stores.
Third, in addition to shopping, outlets have also further integrated diversified business formats such as catering and entertainment to provide consumers with a one-stop shopping experience and attract more young people.
Outlets are more in line with the current consumption downgrade and are constantly improving their business formats and services. They are favored by more consumers who are tightening their purse strings and making them spend real money.
Situation 3: Consumption continues to shrink, and BYD's sales volume rises month by month
In the economic environment of 2024, the phenomenon of consumption downgrade becomes more and more obvious. When facing economic pressure, consumers are more inclined to choose products or services with higher cost performance, resulting in a tightening trend in the overall consumer market.
From September to October 2024, there is a clear trend of consumption downgrade, and the consumer market continues to shrink. Specific data show that in September, the total retail sales increased by 2.1% year-on-year, close to the low point of the year; CPI increased by 0.6% year-on-year, lower than the 3% target set at the beginning of the year. In October, CPI rose by 0.3% year-on-year and fell by 0.3% month-on-month. Although the year-on-year growth rate of total retail sales of consumer goods has accelerated, it is still weak. These data reflect the decline in residents' willingness to consume and the lack of consumer confidence from the two dimensions of quantity and price.
