The unveiling of new products and the opening of first-on-the-ground stores has become a major driver of consumption in the Chinese economy since 2024 as shoppers in the country seek out novel and original experiences.
Known in China as the "debut economy", the trend covers everything from the first reveal of a product or the opening of flagship stores to the creation of new business models and technologies.
At a mall that mainly focuses on young customers in Beijing, a new store called Minibox has gathered hundreds of fashion items, spanning cosmetics, aromatherapy products, creative products and a range of others.
Making its debut in China back in October 2024, the store has widely received positive market feedback.
"These new product styles attracted us to come," said a consumer.
Japanese bookstore brand Tsutaya also opened its first store in Beijing in 2024, attracting curious readers with its unique, lounge-like atmosphere where customers can study, work or chat. The store comes complete with self-serviced snacks and beverages, available for a small hourly fee.
"Beijing has the Tsutaya Books 'share lounge' across the Chinese mainland. There are many creative professionals in Beijing who have a need for a comfortable space to work and create," said Yang Xinfang, senior supervisor of Tsutaya Books in Beijing.
Cities across China have been supporting the opening of first stores, as they tend to bring consumers out to major shopping areas. According to official researchers, the trend reflects a step forward of the country's consumer economy.
"China has entered into a stage where commodity consumption is transitioning to service consumption. It requires the supply end to constantly provide innovative goods and services. We also need to be in line with the global market, promoting the integrated development of domestic and international markets. More international brands should be introduced, allowing them to launch new products globally and simultaneously as well as making various kinds of debuts," said Guan Lixin, deputy director of the Circulation and Consumption Research Institute with the Chinese Ministry of Commerce.
Emerging products, brands become new driver for China’s consumption growth
