Core Insights - The third Chain Expo, scheduled from July 16 to 20, will introduce a "Chain Expo Launch Station" for showcasing new products, technologies, and scenarios from participating companies, reflecting the growing trend of the "launch economy" in China [1] - The launch economy aligns with consumer upgrade trends and high-quality development, allowing traditional retail formats to innovate consumption scenarios and optimize operational models through REITs [1][3] Group 1: Economic Impact - The "Summer Anime Season" at Beijing Xidan Joy City generated over 15 million yuan in sales, contributing to nearly 700 million yuan in total sales and attracting around 4.5 million visitors [2] - In the first four months of this year, Shanghai added 301 new stores, including 7 global and Asian first stores, with high-level stores making up 16% of the total [2] - The launch economy is enhancing both offline and online consumption, with Tmall reporting that 12 new products surpassed 100 million yuan in sales during the "618" shopping festival [2] Group 2: Consumer Trends - The growth of the launch economy is driven by changing consumer demographics and preferences, particularly among younger consumers who favor limited edition and co-branded products [3] - The silver economy, primarily driven by the "60s" generation, also shows strong consumption power and demand [3] Group 3: Policy and Innovation - Various cities are implementing innovative policies to enhance the efficiency of new product launches, such as Shanghai's pilot program for import consumer goods inspection [4] - The central government encourages the development of the launch economy through tailored policies, promoting the establishment of first stores and launch events for quality brands [5] Group 4: Future Directions - The launch economy is seen as a key driver for consumption growth, with a shift from basic needs to more diverse and quality-oriented consumption patterns [5] - Shopping centers are encouraged to innovate their physical spaces and integrate various business formats to enhance economic value and social impact [5]

Group 1: "One Old, One Young" Service Supply - The government is enhancing the supply of services for the elderly and children by promoting age-friendly modifications in community public spaces, urban roads, and public transport [1] - Initiatives include the development of community elderly meal services, construction of community nursing projects, and the promotion of silver tourism with themed travel products [1] - The government is also encouraging the establishment of embedded childcare services and providing operational subsidies for institutions caring for children under three years old [1] Group 2: Promotion of Life Service Consumption - The government is guiding the expansion of quality service offerings in brand restaurants and accommodation businesses, including the "Jin Cuisine" enhancement initiative [2] - There is a focus on supporting the construction of high-quality hotels and the introduction of renowned hotel management brands [2] - The government aims to strengthen community service sectors, including domestic services, maintenance, and community bookstores, by promoting the development of community shopping centers [2] Group 3: Cultural and Tourism Consumption Expansion - The government is promoting the integration of commercial, tourism, and cultural resources to create diverse consumption scenarios [2] - Initiatives include the development of night tourism spots and extending the opening hours of cultural venues like museums and libraries [2] - There is support for ticket discounts at scenic spots and the issuance of cultural tourism consumption vouchers [2] Group 4: Ice and Snow Consumption Potential - The government is organizing "Ice and Snow Consumption Season" activities to promote high-quality skiing tourism destinations with local characteristics [3] - Support is provided for hosting high-level ice and snow events and themed activities such as ice festivals and photography exhibitions [3] - There is encouragement for the construction of small outdoor ski and ice rinks in communities and parks to enhance local ice and snow entertainment facilities [3]

Core Viewpoint - The emergence of the "first launch economy" reflects the growing trend of product launches and innovations in the market, driven by consumer demand for unique and personalized experiences [1][3]. Group 1: First Launch Economy - The "first launch economy" is gaining traction, with events like the upcoming Chain Expo showcasing new products and technologies, indicating a shift towards innovative consumption scenarios [1]. - The first launch economy aligns with the trends of consumption upgrades and high-quality development, allowing traditional retail formats to innovate and optimize operations through mechanisms like REITs [1][3]. - The first launch economy has expanded from product launches to include the establishment of first stores, R&D centers, and corporate headquarters, showcasing a city's commercial vitality and competitiveness [3][4]. Group 2: Consumer Behavior and Market Impact - The "00s" generation's preference for differentiated and personalized consumption has led to strong sales of limited edition and co-branded products, while the silver economy also shows significant purchasing power [3][5]. - In the first four months of this year, Shanghai saw the opening of 301 new first stores, with a notable increase in high-level stores, indicating a diverse range of consumer categories and scenarios [2]. - The "618" shopping festival saw significant online sales, with 12 new products achieving over 100 million yuan in sales, highlighting the rapid market response to new product launches [2]. Group 3: Policy and Institutional Support - Local governments are implementing policies to support the first launch economy, such as financial incentives for new stores and initiatives to enhance the efficiency of product launches [3][4]. - Shanghai has introduced innovative measures for the inspection of imported consumer goods, facilitating a smoother experience for first launches [4]. - The central government encourages the development of the first launch economy through tailored policies that promote the establishment of first stores and events [4][5]. Group 4: Future Directions - The first launch economy is expected to drive consumption towards more experiential and interactive formats, with shopping centers evolving to accommodate diverse consumer needs [4][5]. - There is potential for growth in the silver economy, with opportunities in sectors like healthcare, tourism, and technology, reflecting changing societal structures [5]. - The integration of digital technologies and asset management strategies, such as REITs, can enhance operational efficiency and customer experience in shopping centers [5].