"Consumption degradation" has become a hot word since 2018. As if overnight, consumption downgrading replaced consumption upgrading and became the hottest topic of discussion. So what does downgrading mean for the sound tube industry?
China has really entered the era of consumption degradation?
China has really entered the era of consumption degradation? The reasons seem to be quite adequate: high housing prices in cities squeeze consumer spending, soaring rents make first-and second-tier city homeless people bear higher rent costs, low-price auction platforms for low-end products are rising rapidly, and the performance of second-tier consumer stocks in the capital market this year is far better than that of industry leaders, and so on.
According to data released by the Ministry of Culture and Tourism, the number of domestic tourists reached 2.826 billion in the first half of this year, an increase of 11.4% over the same period last year. Domestic tourism revenue was 2.45 trillion yuan, an increase of 12.5%. In the first half of the year, the national box office reached 32.03 billion, and the number of people watching films reached 901 million, increasing by 17.8% and 15.3% respectively.

From the overall consumption structure, service consumption, including tourism, culture, sports, pension, home economics, etc., has accounted for more than 40% of domestic residents'consumption expenditure. In terms of consumption quality, data from Beijing East University show that in the first half of 2018, compared with the same period in 2016, the number of users participating in high-end consumption significantly expanded, with a cumulative increase of 91% in the number of single users.

From the above data, it can be seen that the consumption structure of residents has changed significantly in recent years. The main reason for the "consumption degradation" of some groups is that, with the increase of expenditure on housing, automobile, education, culture and entertainment, the consumption of necessities has been reduced under the condition of a certain total income. Adjustment of consumption structure.

To clarify the concept of "consumption degradation", we must first understand the concept of "consumption upgrading". Consumer upgrading is far more than just buying more expensive and better-experienced products.
On the one hand, consumer upgrading represents a higher quality of life, service and experience, pursuing added value of products, and consumption from 0 to 1 still exists; on the other hand, consumers gradually return to rationality, pursuing high performance-price ratio, and spending the same money to get better service, which is also deeply rooted in the hearts of the people.
Editor's Note: In the future, the whole consumption upgrade will grow steadily. And there are two trends: first, consumers are willing to pay for brand premium and emotional value. Second, the concept of consumption is constantly upgraded, consumption is more rational, gradually returning to the nature of commodities, the pursuit of high cost-effective commodities and efficient service experience. This is a good development trend for the audio and lighting industry.
New Vision of Cultural Tourism, New Market of Audio and Lighting Industry
Compared with previous years, tourism revenue in 2018 decreased by 8.6% compared with 2017, which shows that tourism consumption has stagnated and increased. However, with the vigorous promotion of cultural tourism, various cultural exhibitions during the National Day holiday have attracted a large number of tourists. During National Day holidays, cultural tours have become the choice of many people. People go to cultural sites and museums to experience the splendid Chinese civilization. The number of consumers of key Museums has increased by 28.1% year on year. It shows that cultural tourism has gradually come into the public's vision, and from the "National Day Golden Week Tourism Trend Report", younger and urban sinking have become two distinct characteristics of consumer groups. Whether from the domestic destination or the source of tourists, the new front-line cities are catching up with and surpassing the trend. Novelty is popular.

Editor's Note: From some of the data available, we can see that the economic downturn is taking place. This is both a crisis and an opportunity for both the cultural tourism market and the audio and lighting industry. More and more rational consumers are beginning to be critical of tourism products. Word of mouth, content, service and convenience of arrival have become the focus of their choice. Cultural and tourism projects lacking innovation and independent cultural characteristics may be eliminated. This also urges the re-creation of the industry. We should avoid uniformity in product creation and give cultural performances. More creative and imaginative space will be added to the market. At the same time, the different needs of different age groups, so that the construction of cultural tourism projects need refinement, customization and deep cultivation of content.