2023服务零售促进消费潜能释放研究报告

Investment Rating - The report indicates a positive outlook for the service retail industry, highlighting its significant role in driving consumption and economic growth [4][21]. Core Insights - The report emphasizes the transition of consumer spending from physical goods to service consumption, with service retail showing a year-on-year growth of 20.3% in the first seven months of 2023, outpacing the growth of goods retail by 14.4 percentage points [4][21]. - The introduction of the "service retail sales" metric by the National Bureau of Statistics is seen as a crucial step in accurately reflecting the consumption landscape in China, facilitating better policy-making and investment decisions [6][18]. Summary by Sections 1. Introduction of the Issue - The report discusses the importance of service consumption in the current economic landscape, noting that service retail has become a vital area of focus for economic development [4][21]. 2. Characteristics and Value of Service Retail - Service retail is defined as the sale of services to end consumers, which includes various forms such as rental services and non-product services [6][11]. - The report highlights the significant role of service retail in enhancing market efficiency, reducing transaction costs, and improving service quality through professional distribution [11][15]. 3. Statistical Boundaries of Service Retail - The report critiques the traditional narrow definition of retail that focuses primarily on physical goods, arguing for a broader understanding that includes service retail [16][18]. - The new "service retail sales" metric aims to provide a comprehensive view of the service consumption market, reflecting its growing importance in the economy [18][20]. 4. Development Trends in Service Retail under the Digital Economy - The report identifies five key trends in service retail: expanding demand, improving supply quality, emergence of new professions, enhanced platform economy effects, and the integration of goods and services [21][24]. - It notes that service consumption is increasingly becoming a significant part of household expenditure, with a 44.5% share in 2023, indicating substantial growth potential [23][24]. 5. Policy Recommendations for Releasing Consumption Potential - The report suggests enriching service consumption formats and expanding service retail scenarios to better meet consumer needs [34][36]. - It advocates for supporting traditional service retailers in their digital transformation to adapt to changing consumer behaviors and enhance service efficiency [34][36]. - The importance of standardization in service retail is emphasized as a means to reduce transaction costs and improve consumer confidence [36].