Source of this article: Times Finance Author: Zhou Jiabao
In April, the sun in Hainan is already scorching, and the official opening time of the Consumer Expo has not yet arrived, and hundreds of visitors have gathered at the entrance of the Hainan International Convention and Exhibition Center to wait to enter the hall, looking forward to immersing themselves in a global shopping feast.
On April 13, the 4th China International Consumer Goods Expo (hereinafter referred to as the "Expo") officially opened in Haikou. As the largest consumer goods exhibition in the Asia-Pacific region, this year's CICGF has an indoor exhibition area of about 128,000 square meters, attracting more than 4,000 brands from 71 countries and regions.
Times Finance noticed that in the first few days of the previous Consumer Expo, B-end visitors were often the main force to visit the exhibition, but on the first day of this year's exhibition, the consumption enthusiasm of C-end visitors from all over the world was particularly high. Domestic and foreign exhibitors have also used their housekeeping skills to promote to C-end consumers.
At present, young people have become the main force of consumption, and doing a good job in young people's business has also become the consensus of the development of many traditional brands, and the Consumer Expo has also become an important bridge for these brands to link young consumer groups.
The 4th China International Consumer Products Expo in 2024. Times Finance/Photo
Moutai ice cream is sold out, and Yili capsule toy machines line up to check in
Since the opening of the Consumer Expo, Moutai Group's booth has been crowded, and there has been an endless stream of young consumers who have come to taste wine. In the booth, the display and tasting of traditional sauce-flavored liquor products were very lively. Previously, the cocktail products and Moutai cultural and creative products developed by Moutai Ecological Agriculture Company and the cocktail brand MOJT were very popular at the scene.
Young consumers are buying Moutai cultural and creative products. Times Finance/Photo
Moutai ice cream, as the group's iconic rejuvenation product, was once sold out of stock at the scene. The staff of Moutai Group revealed, "We should have hundreds of freezers, but now they are basically sold out, except for some of them that are melted and cannot be sold due to storage reasons." We're still stepping up restocking, and we're too busy. It also revealed that from the opening to the closing of the museum at noon on April 13, more than 800 copies of Moutai ice cream products were sold. On April 14, some flavored ice cream products were still in short supply.
Under the boom of young consumption, investment in the tea track is also heating up. Times Finance observed that Yike Huoquan, a subsidiary of Yili Group, released a new freshly brewed tea product at the Consumer Expo. The tea capsule toy machine set up at the exhibition site also attracted many young consumers to line up to check in.
Exhibitors participate in the Echo Fountain Tea Event. Times Finance/Photo
Shi Chengyue, Brand Director of Yike Huoquan of the Marketing Department of Yili Group's Liquid Milk Division, revealed, "The target consumer group set by Yike Huoquan Freshly Brewed Tea is young urban cutting-edge white-collar workers, who have strong Internet celebrity attributes in terms of product experience. In the future, brands will continue to cultivate and accumulate loyal users through the dissemination of new media in combination with consumption scenarios, and we have already aroused many spontaneous discussions among consumers on social platforms. ”
He further pointed out, "As a first-time exhibitor, Yili's CICGF not only provides us with an excellent stage to showcase our brand image and product strength, but also provides an important window for us to gain an in-depth understanding of Chinese consumer needs and market trends. ”
Times Finance has learned that Eke Huoquan freshly brewed tea products have been successively distributed and listed in many cities across the country.
China Post's booth also attracted a large number of young visitors to check in, and new products such as postal coffee and postal cultural creativity were highly popular.
The deputy general manager of the customer marketing center of Hainan Post Branch told Times Finance that postal coffee is a project led by China Post Group. At the same time, the group also encourages provincial and municipal companies to do some brand innovation. "Coffee, milk tea, etc. are some relatively successful explorations, and we are still looking for further cooperation opportunities. Taking Hainan Post as an example, (we) had planned to transform the traditional newsstand through cooperation with emerging consumer brands, hoping to create a new scene for young people's consumption. ”
The company was busy selling goods, and Chow Tai Fook's sales on the first day of opening were nearly 300,000 yuan
"Show goodwill" to young people, so that a number of brands in the Expo full harvest.
The staff of Greenland Global Commodity Trade Port revealed to Times Finance that "compared with other international exhibitions, the Consumer Expo is like a consumer carnival. On the first day of opening, the museum was mainly sold on the C-end, and there were nearly one million yuan in sales in just half a day. The person in charge of the channel of Dream Curry KA, an instant curry brand under Otsuka's Japan who participated in the Consumer Expo for the first time, told Times Finance that they had sold more than 3,000 copies of the product within four hours of opening.
Gold jewelry brand Chow Tai Fook booth staff revealed that young consumers have become an important consumer group of gold jewelry, and in recent years, a variety of gold products in line with young people's consumption preferences have also been launched, and the booth sales on the first day of the exhibition were nearly 300,000 yuan, of which gold jewelry accounted for about 60%.
Chow Tai Fook brand gold jewelry for young consumers. Times Finance/Photo
In addition, many exhibitors gave special offers during the Expo. The sales staff of the iFLYTEK booth revealed that the company dispatched sales elites from all over the world to the exhibition site and also gave sufficient stocking. "Popular styles on some e-commerce platforms are often out of stock, but today we have them here, and the prices are cheaper than those on the platform. ”
Sun Pan, PwC's Chinese mainland M&A Advisory Services Partner, told Times Finance that behind the transformation of consumer brands, companies should adapt to the generational change of consumers, seize young consumer groups, and maintain the vitality of brands. As an important window for brands to connect with consumers, the new brands and products launched by the Expo should pay more attention to experience, content, interaction and ESG-related expressions.
Sun Pan pointed out, "This generation of consumers is more active in interacting with brands, and even participating in the co-creation and iteration of products through feedback on social platforms. They also pay more attention to intrinsic and emotional values, and have great enthusiasm for experiential consumption such as cultural tourism and outdoor sports. For many domestic companies, an important opportunity is that contemporary young consumers give priority to locally-friendly products in terms of culture, design and concept, and domestic brands have become their first choice. ”