Olympic events drive resonance in the consumer market

2024-08-12

The number of tennis related group buying orders increased by 172% year-on-year, the box office of the first cinema viewing exceeded 2 million yuan, and the transaction volume of "watching matches" increased more than twice year-on-year... Recently, driven by the Paris Olympics, China's consumer market has continued to improve. Industry experts say that Olympic events and sports stars have a significant driving effect on consumer markets such as sports, food, and clothing. In the future, it is necessary to seize opportunities, continuously consolidate the foundation of the consumer market, and fully unleash new momentum in the consumer market. Driven by the Paris Olympics, many popular sports such as tennis have also resonated with the Olympics. Since Chinese players reached the semi-finals, our venue bookings have increased by 40% to 50%, and consultation calls have also significantly increased. After Zheng Qinwen won the championship, it has triggered a wave of booking and consultation peaks. With the momentum of the Olympics, the tennis consumer market has ushered in a new dynamic of vigorous development, and we also plan to expand the number of stores in Beijing from 4 to more, "the person in charge of Rock Tennis, a chain tennis training center, told reporters. The platform data further confirms the driving role of the Olympics in the sports consumption market. According to data from Meituan platform, the search volume for sports in July increased by 180% compared to the same period in June. Among them, the order volume of "badminton" increased by 90% year-on-year, and the order volume of tennis related group purchases increased by 172% year-on-year. The new events added for the first time at this year's Paris Olympics are also particularly noteworthy. According to Meituan platform data, emerging projects such as breakdancing have gained popularity among young consumers due to their debut at the Olympics. Since the beginning of this year, search volume has increased by 107.8% compared to the same period last year, and the number of related notes and strategies has increased by 150%. Since July, the search volume for "climbing gym" has also increased by 62% year-on-year. It is worth noting that not only sports events, but also the popularity of the Paris Olympics has driven the popularity of more consumer markets such as spectators and clothing. Going to the cinema to watch games on the big screen has become a new trend. According to Lighthouse Professional Edition data, as of press time, the total box office of the 2024 Paris Olympics cinema live broadcast on the main channel reached 2.436 million yuan. The various "accessories" for watching matches have also risen with the tide of the competition. According to research data from iiMedia Research, over 80% of internet users choose to purchase beverages, alcoholic beverages, snacks, and snacks while watching Olympic events. Convenience foods, soda drinks, and other beverages are the preferred "appetizers" for internet users. Tiktok e-commerce data shows that during the Olympic Games, the turnover of "essential" goods such as drinks, food, digital appliances and so on increased more than twice year-on-year. In terms of clothing, many Olympic related products have attracted consumer attention. Taking table tennis as an example, compared to before the opening of the Olympics, the growth of Sun Yingsha's Li Ning Panda T-shirt and Fan Zhendong's reverse flip of the same jersey on the Dewu App has exceeded 7 times. Keep Tmall's official flagship store's outdoor products, such as fitness bags, knee pads, and waist guards, saw an average daily sales increase of over 30% compared to the week before the event. Short sleeved T-shirts and sports pants also saw an increase of over 40%. Wang Yuxiong, director of the Sports Economy Research Center at the Central University of Finance and Economics, stated in an interview with reporters that sports consumption, especially the integrated consumption around sports participation and event viewing, as well as the consumption caused by sports, is very considerable. The recent consumption phenomena driven by the Olympics indicate that sports consumption, as a new type of consumption and a sunrise industry, is accelerating its importance and there will be a lot of growth space in the future. With the closing of the Paris Olympics, how to seize the opportunity and better promote the long-term development of related consumer tracks has become a focus of attention for practitioners. Li Yanbei, the head of Morepark Skateboarding Park, said that the Paris Olympics has brought a new wave of popularity to skateboarding. "We hope to continuously improve the popularity of skateboarding through organizing events, conducting lectures, and other means, so that more people can understand and learn about this sport. With the appearance of Chinese athletes on stages such as the Olympics, we are optimistic about the development prospects of skateboarding." In fact, relevant policies are also further promoting the development of the sports consumption industry. Chang Tiewei, the head of the Employment Income Distribution and Consumption Department of the National Development and Reform Commission, stated at a press conference introducing the "Opinions on Promoting the High quality Development of Service Consumption" that in order to expand service consumption in key areas such as culture, tourism, and sports, the National Development and Reform Commission will make up for its weaknesses and support the upgrading of cultural, tourism, and sports facilities and equipment. And strengthen the construction of sports parks and social football fields, improve the facilities and conditions of national fitness venues. (New Society)

Edit:Xiong Dafei    Responsible editor:Li Xiang

Source:XinHuaNet

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