社零总额连续下降，北京消费乏力了？ 专家:商品消费、服务消费综合性指标 更全面反映消费市场变化

Core Insights - Beijing's service consumption is active, but the total retail sales of consumer goods (社零总额) are declining, with a year-on-year decrease of 3.8% in the first half of 2023 [1][5][4] - The overall market consumption in Beijing grew by 0.9% year-on-year, driven by a 4.7% increase in service consumption in sectors like information, transportation, and cultural entertainment [1][7] Consumption Trends - The total retail sales reached 673.42 billion yuan, with a decline in both goods retail (606.16 billion yuan, down 3.8%) and catering revenue (67.26 billion yuan, down 3.6%) [5][6] - Basic living and fashion goods performed well, with sales increases of 13.9% for grain and oil, 36.1% for gold and jewelry, 9.3% for sports and entertainment products, and 7.6% for cosmetics [5][6] - The "old-for-new" consumption policy positively impacted sales in home appliances and cultural office supplies, with increases of 4.6% and 3.1% respectively [5] Consumer Spending - Despite the decline in total retail sales, residents' per capita consumption expenditure grew by 2.8%, with urban residents at 2.6% and rural residents at 4.3% [5][6] - The increase in service consumption is significant, with per capita service expenditure rising by 5.2%, accounting for 58.9% of total consumption expenditure [7] Emerging Consumption Patterns - The "it economy" is experiencing rapid growth, with pet-related consumption reaching 77.375 billion yuan, a year-on-year increase of 8.84% [8] - The popularity of niche brands is rising, with 79% of consumers in mainland China accepting these brands, particularly in beauty, fashion, and home goods [8] Policy and Structural Changes - The "Beijing Action Plan for Deepening Reform to Boost Consumption" aims to create an international consumption experience zone and support the establishment of flagship stores and local fashion brands [9] - The market is undergoing a structural adjustment, with service and cultural consumption growing faster than traditional goods consumption, indicating a shift towards a more experience-driven economy [13][14]