Interpretation: What impact will the National Development and Reform Commission's "revitalization of consumption" have on the lighting industry?

Following the National Development and Reform Commission and 23 other departments jointly issued a document on the 13th to promote consumption, proposing to focus on promoting the quality and upgrading of cultural, tourism and leisure consumption, the Joint Prevention and Control Mechanism of the State Council held a press conference on the 18th to promote consumption replenishment and potential release. Focusing on promoting residents' willingness to consume, dare to consume, and be able to consume, a total of 19 policies and measures in six aspects were introduced.

Ha Zengyou, director of the Department of Employment, Income Distribution and Consumption of the National Development and Reform Commission, said that in the next step, the National Development and Reform Commission will make every effort to ensure basic consumption of food and clothing, cultivate and expand new consumption and upgraded consumption, revitalize cultural tourism and catering consumption, improve consumption of quality care for the elderly, and comprehensively promote healthy consumption.

Since the outbreak of the epidemic, the lighting industry has been affected to a certain extent, especially sectors that are closely related to the secondary and tertiary industries such as infrastructure, commerce, cultural tourism, and night tourism. At present, the National Development and Reform Commission's move to promote consumption is undoubtedly good news for the lighting industry.

So, with the benefits of cultivating and expanding new consumption and upgrading consumption, and revitalizing cultural tourism and catering consumption, what positive impact will it have on the lighting industry? Which sectors will usher in further development?

The new night-time economy drives the development of the lighting industry

Consumption is strong and the economy is running steadily. In 2019, consumption contributed 57.8% to the growth of the national economy.

Currently, consumption has become the "main engine" driving China's economic growth. Among them, new consumption formats, new models, and new hot spots represented by the night economy have developed rapidly, showing amazing consumption potential and huge market space. Statistics show that with the increasing support for the night-time economy by local governments across China and the increase in the service market for night-time consumption venues and other favorable measures, the development scale of China's night-time economy will show explosive growth and may exceed 30 trillion yuan in 2020.

In fact, in recent years, the night-time economy has become a "Red Sea" market that major cities have seized. Since 2019, almost all major cities across the country, including Beijing, Tianjin, Chengdu, Chongqing, Shanghai, Jinan, and Guangzhou, have introduced relevant policies to promote the maturity of night tourism and stimulate new drivers of the night-time economy. In addition, even at the moment when the epidemic has been severely affected, many cities across the country continue to "expand their strategies" to lay out their development patterns and develop the night-time economy. Therefore, at this time, the National Development and Reform Commission proposed to "cultivate and expand new consumption and upgrade consumption", which will undoubtedly make the development of the night economy "even more powerful".

The continuous release of policy dividends has promoted the explosive development of the nighttime economy. The creation of lighting environment is the most important industrial foundation for the development of the nighttime economy. It is an indispensable element of the nighttime economy and is bound to usher in explosive growth.

The first to bear the brunt is the lighting and lighting mainly for public entertainment functions, including large-scale landscape lighting projects in commercial areas, entertainment areas, tourist areas and other areas.

According to statistics, during the National Day in 2019, Guangzhou’s Pearl River Night Tour received a total of 142,400 tourists and generated an operating income of 12.1009 million yuan; the passenger flow of seven nighttime economic clusters in Jinan, including Kuanhouli, Ronghui Old Commercial Port, and Impression, reached nearly 2 million, a year-on-year increase of approximately 4 More than 0%; turnover reached more than 43 million yuan, a year-on-year increase of about 30%...

At present, the efficient benefits brought by "night landscapes" that use lighting as a means of artistic expression, such as light shows, lantern festivals, and night tours, have become a new driving force for the economic development of modern cities. Although the central government issued a document at the end of last year to reduce the number of landscape lighting projects and prevent the blind launch of lighting projects, at the time of the practical need to hedge against the impact of the epidemic and boost the economy, and in line with the requirements of reasonable planning, layout, and combining the city's history, culture, and resource characteristics to create landscapes and lighting with unique urban characteristics, urban landscape lighting may usher in new opportunities in 2020.

Secondly, it is lighting that focuses on practicality and living functions, including lighting projects in residential areas, administrative office areas, industrial areas, education areas, etc.

Among them, sports venues, as urban public activity spaces, are a very important area. Night sports have always been very popular. According to the "Guangzhou Nighttime Consumption Map" released by the Guangzhou Municipal Bureau of Commerce in 2019, the number of people exercising at night has accounted for more than 70% of the whole day. In most sports venues in the central city, such as football, basketball, badminton, etc., from 6 to 10 pm are "prime hours"; more importantly, after the epidemic, the public's health awareness will be further improved, and consumer demand will continue to expand from masks to other health fields. Next, night sports may become the "dark horse" of the night economy.

In addition, smart street lights, which play an important role in fighting the epidemic, will also usher in further development. With the sudden outbreak of the epidemic, it is not difficult to see from the "anti-epidemic resistance" demonstrated by various cities: "Smart cities" are an important soft power for urban epidemic prevention. At present, the construction of smart cities has been accelerated, and many cities across the country have accelerated the construction of "new smart cities".

Cultural tourism night tourism has become a “high-energy blue ocean” in the lighting industry

It is undeniable that the impact of the current epidemic will have a greater negative impact on the cultural tourism industry in the short term, but in the long term, we predict:

Firstly, the long-term rapid development trend of the cultural tourism industry and people’s demand for travel experience are objective, and the demand for cultural tourism will still increase; secondly, after the recovery of cultural tourism demand, with the rebound Sexual consumption frenzy, pent-up tourism demand will rebound with retaliation; thirdly, 23 departments including the National Development and Reform Commission jointly issued a document to promote consumption, proposing to focus on promoting the upgrading of cultural tourism and leisure consumption, and the National Development and Reform Commission proposed to "revitalize cultural tourism and catering consumption, improve quality elderly care and education consumption", which will inject a boost into the cultural tourism industry and will greatly promote the recovery and development of the cultural tourism industry after the epidemic.

Therefore, we believe that from the second half of 2020 to 2021, the cultural tourism industry will experience a concentrated outbreak period. As an important branch of the tourism industry, night tourism, the "high-energy blue ocean" of the cultural tourism industry, will also usher in greater development. Among them, from the perspective of national policies and market environment, night tours will turn more to third- and fourth-tier cities and even towns and characteristic towns with superior economic conditions and lighting conditions.

Judging from the major projects released one after another in 2020 across the country, the proportion and investment funds of rural cultural tourism projects cannot be underestimated. Next, new cultural tourism projects will be launched in large quantities. Among them, China’s Anji White Tea Town, located in Xilong Township, Anji County, has a total investment of 10 billion yuan, an investment of 3 billion yuan from Chengdu, and a planned area of ​​1,830 acres to create the “No. 1 Village for Night Tours in Southwest”... In addition, many villages are actively exploring new models for the development of night tours, which will inevitably bring about a large demand for lighting construction and drive the growth of the lighting market.

In summary, the National Development and Reform Commission promotes tourism consumption and "heats up" cultural tourism consumption, which will indirectly drive the development of the lighting industry. In the future, driven by the night economy and cultural tourism night tourism, outdoor lighting and landscape lighting have great potential.