How to Tap Market Potential and Opportunities

How to Tap Market Potential and Opportunities, Market Potential and Opportunities refers to the analysis of consumers' buying psychology and consumption habits, which is one of the most important and complicated parts of market research. The following shares how to explore market potential and opportunity?

How to explore market potential and opportunities1

With a population of more than 1.4 billion and a middle-income group of more than 400 million, China is the world's most promising large market. The advantage of a super-sized market has become a new comparative advantage for China's economic development. From the viewpoint of endogenous growth momentum, in the first half of 2021, the contribution rate of China's domestic demand to economic growth was 80.9%, and fixed asset investment and total retail sales of consumer goods grew by 12.6% and 23% year-on-year respectively, with an average growth rate of 4.4% in both years, which demonstrates the strong resilience of China's domestic demand market and provides sufficient power, strong support and The company's business is also a major player in the market.

However, while seeing the sustained and stable recovery of the economy and its steady improvement, it is also important to note that the current global epidemic continues to evolve, the international environment is becoming more and more complex and severe, and the recovery of the domestic economy is still characterized by a certain degree of uncertainty. Compared with the rapid recovery of the supply side, the recovery of the demand side has been relatively lagging behind, and there is a clear differentiation between different areas of consumption. In the process of economic development

The relationship between the supply side and the demand side is like the front and rear wheels of a bicycle. We need to promote demand and create demand through the rear wheel, and use the front wheel to guide supply and control supply, so as to achieve a new and higher level of dynamic balance between supply and demand, and ultimately realize the high quality of economic and social development by promoting each other. To this end, we need to fully tap the potential of the domestic market, adhere to the strategic base of expanding domestic demand, further enhance the fundamental role of consumption in economic development, and transform the super large market advantage and domestic demand potential into the strength and power of economic development.

First, improve the quality of supply and increase effective supply. With the economic and social development and the increase of per capita income level, the consumer demand is more and more obvious to show the characteristics of personalization and diversification, the residents' consumption structure has been from the survival-oriented gradually to the development and enjoyment of consumption-oriented change, the overall consumption upgrade trend is obvious. To unleash the potential of the domestic market generated by the upgrading of consumption, it is necessary to continue to deepen the structural reform of the supply side, adhere to the reform and innovation as the driving force, improve the adaptability of the supply system to domestic demand, and promote the quality of consumption and expansion.

In the field of commodity consumption, encourage and support enterprises to increase technological innovation, strengthen the resilience of the industrial chain supply chain, promote the transformation and upgrading of the industrial structure, increase the supply of high-quality products, reduce the low-end and ineffective supply, and promote the optimization and upgrading of the stock of supply. In the field of service consumption, education, culture, tourism, pensions, sports and other aspects of consumer demand has increased significantly, especially when the live band, telemedicine and other new forms of new models to accelerate the development of efforts to enhance the level of supply of medium and high-end service consumption, and to promote the incremental supply of innovation and development.

In the areas of education, healthcare, and old age, which are closely related to people's well-being, it is necessary to reasonably increase the public **** consumption, further reduce the uncertainty of the family's expenditure, so that people can consume, dare to consume, and are willing to consume.

Secondly, expand rural consumption and stimulate the vitality of the rural market. According to the National Bureau of Statistics, in the first half of 2021, the real growth rate of disposable income per capita of urban and rural residents after deducting the price factor was 10.7% and 14.1% respectively, and the growth rate of rural residents' income continued to be higher than that of urban residents. The per capita consumption expenditure of urban and rural residents was RMB 14,566 and RMB 7,464 respectively, with real growth rates of 16.0% and 19.7% respectively, and the growth rate of rural residents' consumption was 3.7 percentage points higher than that of urban residents, demonstrating the strong development momentum of the rural consumption market.

The trend of upgrading rural consumption is obvious, not only in the increase of total consumption, but also in the pursuit of consumption quality. In recent years, with the advancement of home appliances and the release of policy dividends, farmers' demand for green, smart, environmentally friendly, and healthy consumer goods has been growing, and the purchase and replacement of durable consumer goods such as automobiles, high-quality home appliances, and healthy goods will become a new growth point for rural consumption.

Expanding and cultivating rural consumption focuses on accelerating the linkage of county and village e-commerce systems and express logistics and distribution systems, opening up blockages in the circulation of factors, commodities, and services between urban and rural areas, strengthening the rural circulation infrastructure, and constructing a three-tiered rural modern trade circulation system combining county (district)-level logistics and distribution centers, township-level e-commerce and logistics service stations, and village-level e-commerce and logistics service outlets, and building a "rural agricultural products" distribution system that is capable of providing a wide variety of services. The two-way channel between the rural agricultural products "into the city" and the industrial products "to the countryside" of the town, promote the formation of industrial and agricultural mutual promotion, complementary advantages of urban and rural integration and development situation.

Third, advocating healthy consumption, forming a good consumer atmosphere. With economic and social development and changes in consumer attitudes, more and more people are engaging in indebted consumption and overspending. According to the 2020 Annual China Leverage Report, the leverage rate of the residential sector in 2020 was 62.2%, up 6.1 percentage points from the previous year, and has continued to climb for 12 consecutive years. In addition, some unhealthy and irrational consumer demand is not conducive to stable economic and social development.

Some of the rural areas of the "sky-rocketing bride price" and the name of a variety of feasts to the farmers added a heavy economic burden. Therefore, it is necessary to publicize and educate different groups of people on the correct concept of consumption, and promote the formation of a good atmosphere of scientific and rational consumption in the whole society.

Fourth, optimize the consumer environment, improve the regulatory incentive mechanism. Tapping into the potential of the domestic market, increase effective supply, to focus on creating a safe and secure consumer environment, improve the whole process from production to consumption regulatory incentives. From the production side, to strengthen the supervision of product and service quality, resolutely combat counterfeiting, fake, shoddy, substandard and other violations of the market order behavior, in order to gradually shape the new image of the domestic brand of high-end high-quality, to attract the loss of overseas purchasing power to accelerate the return to the domestic.

From the consumer side, the establishment and improvement of consumer information *** build **** enjoyment mechanism, can reduce the degree of information asymmetry between the two sides of the transaction. In addition, improving laws and regulations related to consumer rights protection and increasing the efficiency of handling consumer complaints and disputes are conducive to enhancing consumer satisfaction.

How to tap market potential and opportunities2

Cultivate new types of consumption Tap market potential

With the upgrading of consumption and the need to adapt to the normalization of epidemic prevention and control, people's consumption patterns, consumption habits are changing, and new types of consumption are emerging. To meet the new consumer demand, actively develop new products, cultivate new models, and promote the development of new consumption.

Prepared dishes into people's lives

Tear open the bag, turn on the induction cooker, pour the ingredients into the pot, 15 minutes later, a colorful and flavorful green pepper grilled fish is completed. "Home from work is very tired, and do not want to order takeout, pre-made dishes do it quickly, ten minutes to get done, the flavor is also good." Li Qing, a 90-year-old consumer in Guangzhou City, Guangdong Province, told reporters that she buys pre-made dishes three to four times a week, and when summer comes, she prefers to eat bullfrogs, grilled fish and crayfish.

Sauerkraut fish, sweet and sour pork, etc. prices of 15 to 30 yuan, coconut chicken, seafood pot, crayfish, etc. prices ranging from 35 to 90 yuan ...... into the center of Guangzhou City, a large supermarket, the freezer is full of a variety of flavors and dishes of prepared dishes goods. According to supermarket shoppers, young office workers are the main force of purchase.

The State Office issued the "opinions on further releasing the potential for consumption to promote the sustained recovery of consumption" put forward: "Adapt to the needs of the normalization of the epidemic prevention and control, to promote new types of consumption, and accelerate the organic integration of online and offline consumption." Driven by personalized and diversified consumer demand, new products and services such as pre-prepared dishes, dishwashers and air fryers are very popular.

"In 2021, the company's pre-prepared dish revenue reached 841 million yuan." Wu Liqing, vice president of Zhanjiang Guolian Aquatic Products, revealed that the company's grilled fish products in the Box Office channel during the "May Day" period this year, the rapid growth in sales. Xu Yi, director of marketing department of Guangdong Hengxing Group Co., Ltd. introduced, Hengxing Foods Guangdong white burnt shrimp products last year, annual sales of 350 million yuan, *** sold more than 5200 tons, this year, the golden soup pickled fish and one-night Cheng gold pomfret fish has become a hot product again.

"The fire of the pre-prepared dishes is a new trend." Li Zhong, chairman of Zhanjiang Guolian aquatic products, said, especially in the context of the normalization of epidemic prevention and control, the frequency of home meals, the pursuit of convenience and quality, so that consumers began to favor the pre-prepared dishes.

"From the corporate level, the use of pre-prepared dishes can significantly reduce the number of store personnel and production efficiency is higher, you can reduce the enterprise's labor costs, operating costs." Xu Yi said.

Easy hands in the kitchen, according to the steps of a simple reheat, you can eat a variety of delicious, pre-prepared dishes can not be separated from the hot food industrialization support. In March of this year, Guangdong issued "accelerate the development of the Guangdong pre-prepared dish industry ten measures", put forward to focus on high standards to lead the development of high-quality pre-prepared dishes, the organization to carry out the three major dishes of Guangdong pre-prepared dishes all industrial chain standard system construction pilot work, and gradually develop and improve the pre-prepared dishes from the field to the table series of standards.

"Taking the lead in the industry to implement the electronic regulatory model, to achieve the whole process of traceability from breeding to the table, a strong food quality control ability helps to improve our competitiveness." Wu Liqing introduced, the company is equipped with a `R&D team from large international restaurant chains, to establish a systematic product development system, in recent years, has developed a number of such as pickled fish, grilled fish and other rich and diverse pre-prepared dishes and ready-to-eat food.

"Nowadays, large brand chain restaurants, city specialty food merchants have entered the field of prefabricated dishes, and there is a lot of room for future market growth." Huang Zhen, the person in charge of the pre-prepared dish business of HungryMe said, HungryMe has set up a special team to optimize the market operation, supported by user data as well as operational data, which can provide better insights into the needs of consumers in terms of taste, specifications, categories, etc., and guide the merchants to output more suitable commodities to better meet the needs of consumers.

How to tap market potential and opportunities3

China's potential future market demand

First, maintain and continue to create China's mega-market advantage. It is necessary to enhance the fundamental role of consumption in economic development. With the improvement of our people's living standards, the consumption structure will continue to be optimized and upgraded, rigid and traditional consumption is the basis, new consumption and overconsumption is the growth point, reasonable public **** consumption can be adjusted with the growth of comprehensive national strength. Focusing on quality brands, promoting consumption to green, healthy and safe development, and encouraging the development of new modes of consumption and new business.

In 2019, China's total retail sales of consumer goods was 41, 2 trillion yuan, and in 2020, the total retail sales of consumer goods declined by 3, 6%, close to 40 trillion yuan; the total size of the logistics market is more than 300 trillion yuan, the total value of international trade is 32, 16 trillion yuan, and the real estate market sales are 17, 36 trillion yuan, which is close to 400 trillion yuan in total. Capital market capitalization of 80 trillion yuan, the future of data elements will become an important market endowment, will produce a huge market capacity and trading volume.

The above items add up to a total market size of more than 500 trillion yuan in China. "During the 12th Five-Year Plan period, China's total social retail sales grew at an average annual rate of 15.6%, and during the 13th Five-Year Plan period, it will grow at an average annual rate of 10%, with an expected average annual growth rate of 7%-10% over the next 15 years, and by 2035, China's market size will exceed 1,000 trillion yuan. The market size in China will exceed 1,000 trillion yuan by 2035.

Second, the use and integration of stock resources to form a global trade center. China is already the largest country in terms of trade in goods, and has become the number one trading partner of more than 120 countries, hosting the China Import and Export Fair (Canton Fair), the China International Import Expo, and the China (Beijing) International Fair for Trade in Services, and has nearly 5,000 professional wholesale markets for goods similar to Yiwu, which is in a good position to become a global sourcing and trading center. China must focus on building the world's import, export and re-export trade center in the future and become a global trading center.

In 2035, basically build a trade powerhouse, forming the basic framework for building a global trade center; in 2050, fully build a trade powerhouse with world recognition, and become a world trade center for imports, exports, and re-exports with a strong modern circulation capacity. The total amount of new imported goods in the next five years will exceed 10 trillion U.S. dollars, and the next 15 years will become a world trade center.

The third is to build China into one of the world's major financial centers. With the internationalization of the RMB and the improvement of its international creditworthiness, the RMB's share in the global reserve currency and in the distribution of international trade settlement currencies will increase significantly, and the RMB will become one of the three pillar currencies. It is expected that the proportion of RMB in the distribution of international trade settlement currencies will be more than 20% in 2035 and more than 30% in 2050;

The number of RMB offshore trading centers has increased from the current 13 to 50. The share of futures energy in the world of the Shanghai International Energy Exchange will increase from the current 12% to about 20% in 2025, to about 30% in 2035, and to 40%-50% in 2050.

Fourth, to build China into one of the countries with the best modern business environment. According to the World Bank's assessment, China's modern business environment was in 78th place in 2017, 46th place in 2018, and 31st place in 2019 and 2020. The Chinese government has taken a series of significant measures to create a modern business environment, and is expected to be in the world's top 20 by 2025, top 10 by 2035, and top 5 by 2050.

The region with the best business environment in China is now Hong Kong, as evaluated by international organizations, and Hong Kong, China has consistently ranked in the top 5 in the world. The Guangdong-Hong Kong-Macao Greater Bay Area is a major national strategy, and after the implementation of the National Security Law in Hong Kong, long-term stability will be restored to the Hong Kong society, which will enable Hong Kong's modern business environment advantage to be firstly enlarged in the Guangdong-Hong Kong-Macao Greater Bay Area, and thus provide the experience for the further improvement of the modern business environment of the whole country.

Fifthly, China should be built into the most open, active and modern market system in the world. China currently has 1, 400 million market entities. Data from the China Academy of Information and Communications Technology shows that China's digital economy will reach 39,2 trillion yuan in 2020, accounting for 38,6% of GDP; the growth rate of the digital economy has reached more than three times the growth rate of GDP, and has become a key driving force in stabilizing economic growth.

According to the China Internet Network Information Center (CNNIC), in 2020, China's online medical users will be 2.15 billion, with a penetration rate of 21.7%. Cell phone mobile payment penetration rate reached 94,7%, and mobile payment increased 27 times compared to five years ago, reaching 266,2 trillion yuan.

Sixth, we are accelerating the construction of a new development pattern with the domestic macrocycle as the main body and the domestic and international double cycle promoting each other. The domestic macrocycle, relying on a strong domestic market, links up production, distribution, circulation, and consumption, breaks down industry monopolies and local protection, and creates a virtuous cycle in the national economy.

To build a new development pattern in which the domestic and international double cycle promote each other, it is necessary to utilize both the domestic and international markets and two kinds of resources at the same time, to build a modern circulation system that is unimpeded, highly efficient, and low-cost, and to give full play to the pioneering, fundamental, and decisive role of modern circulation. Cultivate a number of international consumption centers, shopping malls and tourism and leisure center cities, and build a country with the best modern business environment in the world.