Core Viewpoint - The Chinese government is implementing a special action plan to boost consumption, focusing on expanding goods consumption and cultivating new growth points in service consumption [1][3]. Group 1: Policy Initiatives - The central government has issued a plan encouraging both domestic and international brands to open their first stores in China, promoting the "first store" economy [3]. - Local governments, such as Beijing and Shanghai, are introducing measures to attract flagship and innovative concept stores, enhancing the overall consumer experience [3][4]. - The "first store" economy is characterized by the initial entry of leading brands into specific regions, emphasizing scarcity and innovation to attract consumer interest [3][4]. Group 2: Economic Impact - In the first five months of this year, Beijing saw nearly 400 new first stores, while Shanghai added 173 first stores in the first quarter, including 7 global and Asian first stores [4]. - The rise of the first store economy reflects a shift in consumer demand from quantity to quality and serves as a significant indicator of urban commercial capability [4]. - The first store economy activates commercial districts through a complete chain of "traffic—conversion—retention," enhancing overall shopping experiences [4][5]. Group 3: Consumer Experience Innovation - The first store economy breaks industry boundaries, creating immersive consumer experiences, such as the integration of product sales with personalized services [5][6]. - Innovative models, like the combination of retail and experiential consumption, are transforming urban commerce from functional to value-oriented [5][6]. - The integration of first stores with night economy initiatives is creating a 24-hour consumption ecosystem, enhancing consumer engagement [6]. Group 4: Future Outlook - The first store economy is seen as a driving force for consumption transformation and urban development, with ongoing policy optimization expected to further enhance its impact [6].