Core Viewpoint - The "cooling economy" is thriving due to the increasing demand for cooling products and services in response to high temperatures, creating significant market opportunities [1][2][3]. Group 1: Cooling Products and Market Trends - Air conditioning sales have surged, with JD.com reporting a more than twofold year-on-year increase in air conditioner sales since July, and installation rates increasing over threefold [1]. - Other cooling appliances like portable fans, dehumidifiers, and ice makers have also seen sales double across various e-commerce platforms [1]. - The demand for cooling food and beverages has risen sharply, with carbonated drinks and ice cream sales increasing over 75% since the start of summer [2]. Group 2: Night Economy and Consumer Behavior - The night economy has become a significant aspect of the cooling economy, with 60% of urban consumption occurring at night, leading to a doubling of night orders in 127 cities since July [2]. - Various local governments are implementing policies to support night economy initiatives, enhancing consumer experiences through diverse nighttime activities [2]. Group 3: Innovation and Market Dynamics - The "cooling economy" is driven by both consumer demand for innovative and comfortable cooling solutions and suppliers' responses to market needs through new product development [3]. - Innovative products such as smart wearable air conditioners and graphene cooling patches are emerging, showcasing the integration of modern technology and materials into everyday items [3]. Group 4: Policy Support and Future Outlook - To further enhance the "cooling economy," local governments are encouraged to expand the supply of quality products and services, promote integration across various sectors, and support technological advancements [4]. - The "cooling economy" is viewed as a sustainable long-term economic model that can provide new growth opportunities for businesses and stimulate local economic development [4].

Core Insights - The rise of the solar fan hat from Yiwu, Zhejiang, highlights the intersection of "cooling economy" and "innovation economy," demonstrating how innovative products can effectively address consumer needs in extreme heat [1][2][3] - The success of the solar fan hat illustrates that innovation does not always require advanced technology; rather, it can stem from the clever combination of existing technologies to meet practical demands [1][2] - The "cooling economy" reflects a growing trend of integrating modern technology and materials into traditional consumer goods, enhancing functionality and user experience [1][2] Industry Trends - The "cooling economy" is characterized by a variety of innovative products such as smart wearable air conditioners, graphene cooling patches, and portable mini fans, all aimed at alleviating summer discomfort [1][2] - The emergence of "small but beautiful" innovations that address real-world problems can be as impactful as high-tech advancements, emphasizing the importance of understanding and fulfilling unmet daily needs [2][3] - Companies facing challenges like demand stagnation and overcapacity should focus on innovation rather than engaging in price wars, which can harm consumer rights and industry integrity [2][3] Strategic Recommendations - To escape the "involution" trap, companies should prioritize innovation as a means to enhance competitiveness and create new growth opportunities by addressing unfulfilled consumer needs [3] - Businesses are encouraged to leverage their strengths and explore new technologies, materials, and processes to develop products that genuinely meet consumer demands [3] - The success of the "cooling economy" serves as a reminder that innovation can thrive in response to real needs, urging companies to balance high-tech aspirations with grounded, practical solutions [3]