Core Insights - The "first" economy has become a new engine for boosting consumer vitality in China, with various "first" initiatives such as first stores, first launches, and first exhibitions gaining traction [1] Group 1: Development of the "First" Economy - In Chengdu's Jinjiang District, a new "first" store, launch, or exhibition opens approximately every two days, indicating a vibrant retail environment [2] - Since 2019, over 4,000 first stores have opened in Chengdu, maintaining growth for six consecutive years, ranking just behind Beijing and Shanghai [2] - The establishment of the first "First Economy Development Promotion Center" and "First Economy Research Institute" in Chengdu aims to further promote this economic model [2][3] Group 2: Focus on Diverse and Youthful Brands - The Jinjiang District's strategy for attracting "first" economy investments emphasizes diversity and youthfulness, incorporating both new domestic brands and technology enterprises [3] - Brands are increasingly setting up first stores to create more experiential spaces for consumers, enhancing traditional retail formats [3] Group 3: Policy Support and Future Goals - The rise of the "first" economy is supported by targeted policies, including the "Special Action Plan to Boost Consumption" issued by the central government [4] - Chengdu's three-year action plan aims to establish 6,500 first stores and host over 1,000 first events by the end of 2027 [4] - The transformation of traditional commercial areas, such as the East Suburb Memory site, into fashion landmarks with over 80 first stores demonstrates the revitalization of local economies [4]

Core Viewpoint - The "first" economy is emerging as a new engine for stimulating consumer activity in China, with a significant increase in the number of first stores, launches, and exhibitions across various cities, particularly in Chengdu [1][4]. Group 1: Economic Development - Chengdu has seen over 4,000 first stores established since 2019, maintaining growth for six consecutive years, ranking just behind Beijing and Shanghai [3]. - The establishment of the first "First Economy Development Promotion Center" and "First Economy Research Institute" in Chengdu aims to enhance the development of the first economy [3][4]. - Chengdu's "First Economy" initiatives focus on attracting diverse and youthful brands, including new domestic trends and technology companies [3]. Group 2: Consumer Experience - Brands are increasingly setting up first stores to create more interactive consumer experiences, expanding traditional business models [3][4]. - The "Manchester United Dream Theater" in Chengdu has hosted multiple themed events, indicating a shift towards experiential retail [4]. Group 3: Policy Support - The Chinese government has introduced policies to boost consumer brands and promote the establishment of first stores, with a specific action plan for Chengdu aiming for 6,500 first stores and over 1,000 launch events by the end of 2027 [4][5]. - The "First Economy" is supported by national and local policies that encourage the opening of first stores and the hosting of launch events [4]. Group 4: Market Transformation - The transformation of traditional commercial areas, such as the East Suburb Memory area in Chengdu, into fashion landmarks with over 80 first stores demonstrates the revitalization of these spaces through the first economy [5]. - Continuous innovation in consumer scenarios and enhancement of cultural content are necessary for converting short-term traffic into long-term consumer engagement [5].