Core Insights - The report highlights the significant potential of emerging sports consumption in Shanghai, driven by a shift towards experiential consumption and social engagement [1][2] - The analysis indicates a diverse and growing market for sports consumption, particularly in new sports categories such as virtual sports and outdoor activities, which are gaining popularity among residents [2][4] Emerging Sports Consumption - Emerging sports consumption is characterized by high participation rates and varied spending patterns, with nearly 30% of Shanghai residents engaging in new sports in 2023 [2] - Virtual sports and mountain outdoor activities show a broad base of participants and moderate spending, while extreme sports and ice sports are more specialized with higher spending per participant [2][4] - The average spending for extreme sports participants is notably high at 7,838.9 yuan, despite low participation rates [4] Sports Events Consumption - Sports events are identified as a key driver of economic activity, generating significant consumption in related sectors such as tourism and hospitality [5][6] - In 2023, Shanghai hosted 118 sports events, attracting 1.29 million spectators and generating a total consumption of 3.713 billion yuan [5] Nighttime Sports Consumption - Nighttime sports consumption is emerging as a new trend, with 24.8% of residents participating in nighttime sports activities, accounting for 40.9% of total sports spending [7][6] - The highest participation rates in nighttime sports are among the younger demographic, particularly those born in the 1990s [7] Youth Sports Consumption - The youth demographic remains a significant force in sports consumption, with a participation rate of 96.9% among those aged 17 and under, compared to 83.4% for adults [11] - Spending by minors in sports activities has increased, particularly in areas such as travel for competitions and fitness memberships [11][12] Challenges in Sports Consumption - Despite a solid foundation for sports consumption, challenges remain in fully realizing its potential due to insufficient domestic demand and complex external environments [16][17] - The disparity in spending levels compared to developed countries indicates room for growth in per capita sports consumption [17] Policy Recommendations - The report suggests integrating sports consumption goals into broader urban development plans to enhance the overall quality of life and stimulate economic growth [22] - It emphasizes the need for improved supply of sports events and facilities to meet the growing demand and enhance consumer experiences [23][25] - Encouraging innovation in sports consumption models and leveraging digital technologies are recommended to create more engaging and convenient consumer experiences [26][27]