Research on the Development Statusof Beijing

Zhen Wang

Abstract:Under the background of the new normal, the cultivation and development of the middle and high-end consumer market is an important guarantee to promote the steady and healthy growth of Our economy. Beijing is the capital of China, the living standard of the residents is high, the consumer market is developed. By studying the current situation and problems of the development of the high-end consumer market in Beijing, it is of great significance to better cultivate the high-end consumer market in the capital and to play the role of consumption in stabilizing the economy, adjusting structure and promoting development.

Keywords: Beijing; Medium and high-end; Consumption

I.Mid- to high-end consumer market features

1. Meet the consumer's higher quality consumer demand

With the continuous development of the economy, the improvement of residents' living standards, consumer spending concept from the past material consumption to experience consumption, spiritual consumption change, consumers also put forward higher-quality consumer requirements. The high quality here is not only the requirement of the quality of goods and services, but also the requirement to better meet the consumer's demand for personalized, diversified and experiential consumption. The younger generation, in particular, has more demands on the social experience, engagement and personalization of the consumer process. One of the characteristics of the high-end consumer market is that under the condition that consumers demand higher quality of consumption and have new demands on the goods, services and content of consumption, we constantly optimize the allocation of resources, improve service awareness and service level, and meet the new consumption demands of consumers.

2. Development-oriented and enjoyable consumption outstanding

In the context of macroeconomic stability, China's consumers have maintained an optimistic attitude towards their financial situation. Chinese consumers remain highly optimistic about their finances amid slowing global economic growth and market volatility, with 81 percent saying they are in better shape than they were five years ago, according to Nielsen's latest global high-end research. average. While income increases and the willingness to consume increases, consumers' consumption patterns of eating, wearing, living and traveling are also changing quietly. With the rapid development of e-commerce, logistics, new retailing, etc., goods and services are easier to obtain than ever before, not only the quality of food and clothing significantly improved, consumers in education, culture, entertainment and other categories of consumption share gradually increased, including tourism, tourism, Leisure and entertainment is not necessary for life but significantly improve the quality of life of the proportion of expenditure is obvious.

3. The consumption environment is more harmonious

The so-called harmonious consumption environment refers to the requirements of a harmonious society, for the organic composition of a harmonious society, the general name of the consumption environment, harmonious consumption is not only the need to improve the quality of life, but also the need to achieve sustainable consumption. Therefore, a harmonious consumption environment should be the factors affecting consumption can coexist harmoniously and develop in harmony. The consumption environment of the middle and high-end consumer market is more harmonious and requires a more civilized and healthy consumption environment, fairness and justice, integrity and friendliness, environmental protection and safety. A more civilized and healthy consumption environment requires that the goods and services provided by the high-end consumer market, consumption places and consumer advertisements meet the requirements of civilized health, and the consumption process of the high-end consumer market in the fair and just consumption environment meets the requirements of market supervision department sadmission, business license, supervision and inspection, and there is no act of deceiving consumers.

II.Status of the high-end consumer market in Beijing

1. Increased scale of consumption

According to the Beijing Municipal Bureau of Statistics' 2018 National Economic and Social Development Bulletin, the total market consumption for the year was 254.59 billion yuan, an increase of 7.4% over the previous year. Among them, service consumption amounted to 136.582 billion yuan, an increase of 11.8%. In 2018, the city's per capita consumption expenditure was 39,843 yuan, an increase of 6.5% over the previous year. Per capita consumption expenditure increased, the living standard of residents increased significantly, but there is still a certain gap between urban residents and rural residents' consumption expenditure. In 2018, the total retail sales of consumer goods in Beijing amounted to RMB117.477 billion, an increase of 2.7%, of which the wholesale and retail enterprises above the quota achieved an online retail sales of RMB263.29 billion, an increase of 10.3%, accounting for 22.4% of the total retail sales of consumer goods.

2. Consumer structure advanced

With the development of economy and the improvement of the living standard of the residents, the consumer snoes and wears warm, but has diversified consumption demand, which changes from the material consumption to the spiritual consumption in the past. Taking the Engel coefficient of urban households as an example, the Engel coefficient of urban households in Beijing decreased from 33.8 to 19.8 in the 10 years from 2008 to 2017, indicating that the proportion of urban residents' expenditure on food in Beijing has been decreasing and the consumption demand has developed in a diversified direction. According to the Beijing 2018 National Economic and Social Development Statistics Bulletin, the city achieved service consumption of 136.582 billion yuan, an increase of 11.8% over the previous year, faster than the growth rate of total retail sales of consumer goods 9.1 percentage points; Has become the main force driving consumption growth, service consumption leading the capital's consumption transformation and upgrading.

3. Diversification of consumption patterns

With the continuous development of Information Technology such as Internet, Internet of Things, Big Data, Cloud Computing, cloud services and so on, the infrastructure formed by continuous investment in recent decades has supported the current and future booming intelligent consumption. With this infrastructure, mobile payments are possible, and new consumption patterns of real-time consumption and settlement can emerge. China has formed the infrastructure of intelligent consumption in a short period of time, and many aspects of intelligent consumption are in the forefront of the world, which will lay the foundation for the rapid development of customized consumption in China.

III.Problems in the development of high-end consumer market in Beijing

1. Insufficient brand competitiveness

The cultivation of high-end brands for an enterprise is strategic, need long-term adherence to the continuous creation of investment for the brand. However, at present, many domestic enterprises are eager to pursue the interests, do not want to invest too many enterprise resources to a long time later to benefit from the project or business activities of the company, instead rely on a highly competitive cost-effective to occupy the market. In this way, the goal of enterprise competition is to see whose goods are cheaper, in order to ensure profits, the quality of goods over time is difficult to guarantee. Enterprises do not attach importance to the cultivation of brands, relying on cheap to seize the market, without shaping the core competitiveness, the market enterprises will continue to change. For a country, most enterprises do not attach importance to the cultivation of brands, domestic high-end brand market will be occupied by foreign brands.

2. Insufficient effective supply of high-end consumption

According to the Beijing 2018 National Economic and Social Development Statistics Bulletin, the total value of imports and exports in Beijing was 271.825 billion yuan, an increase of 23.9% over the previous year. Of this total, exports amounted to 487.85 billion yuan, an increase of 23.0%, while imports amounted to 223.39 billion yuan, an increase of 24.1%. Imports were 4.57 times the value of exports and had a trade deficit of $174.254 billion. A large number of high-end consumption force outflow, and constantly impact the domestic high-end consumer goods supply market and enterprises, inhibit the supply of high-end consumer goods innovation, is not conducive to the long-term development of the economy.

3. Lack of consumer trust

Consumer trust is the basis of the development of the middle and high-end consumer market and the important factor of consumption decision-making. However, in recent years, the domestic consumer market has been exposed a variety of consumer quality problems, a serious blow to consumers for domestic brands trust. China's production capacity and manufacturing capacity have reached the international first-class standard, but there is still diversification, personalized, high-quality consumer goods and high-quality service demand is difficult to be fully met, a large outflow of consumption phenomenon. Chinese people go abroad to buy milk powder, leading to panic in other countries, even the usual toilet lid has been the Chinese people in Japan's crazy rush to buy, thus exposing consumers on domestic products, especially high-end products lack of confidence.