Night Economy Now Accounts for 60% of Chinese Consumption

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The power of youth is being crediting as adding the fire to the Chinese economy that has propelled the country’s night economy to now be where the majority of consumption takes place. And they are no longer spending it in KTVs.

年轻人的力量被认为为中国经济增添了火力,推动中国的夜间经济成为目前大部分消费的场所。而且他们不再把钱花在KTV里。

¥30 trillion this year and counting. That’s how much China’s millennials have spent on their night-time consumption in 2021 to date.

今年 30 万亿日元,并且还在增加。这是 2021 年迄今为止中国千禧一代在夜间消费上的支出。

According to recently-released statistics, fully 60 percent of China’s consumption now occurs at night, and the millennials (post-90s and post-00s) are largely responsible. 

根据最近发布的统计数据,目前中国60%的消费发生在夜间,而千禧一代(90后和00后)负有很大责任。

Their extensive needs in life, leisure and social networking have given birth to the rise and popularity of more new business forms. And this night economy is estimated to take in ¥36 trillion by the time the year is out.

他们在生活、休闲、社交等方面的广泛需求,催生了更多新业态的兴起和普及。预计到年底,夜间经济将带来 36 万亿日元的收入。

According to The World Journal, Wired Insight (发现连线) has reported that this booming evening consumption trend is largely driven by national and local policies. Such stem from China’s State Council desires to accelerate the night economy in 2019.

据《世界日报》报道,Wired Insight (发现连线) 报道称,这种蓬勃发展的夜间消费趋势很大程度上是由国家和地方政策推动的。 这源于中国国务院希望在 2019 年加速发展夜间经济。

But note that the traditional form of late-night fun for young Chinese, KTV, is not among the key drivers.

但请注意,中国年轻人深夜娱乐的传统形式——KTV,并不是主要驱动力之一。

With the emerging new nightlife becoming more and more popular, some of the old formats have been gradually abandoned by young people. The KTV business has in fact been on the decline since 2016. By 2019 there were over 10,000 less KTV establishments in China.

随着新兴夜生活的兴起,一些旧业态逐渐被年轻人抛弃。事实上,KTV业务自2016年以来一直在下滑。到2019年,中国KTV场所减少了1万多家。

In their place, secret escape rooms, restaurants that turn into bars and livehouses are the main drivers of the new economy.

取而代之的是秘密逃生室、变成酒吧的餐馆和现场表演室,它们是新经济的主要驱动力。

Variety show “Star Detective 3”, inviting celebrities to role play and problem solve, has helped popularise emerging industries such as secret room escapes.

综艺节目《明星大侦探3》邀请明星进行角色扮演、解题,带动了密室逃脱等新兴产业的普及。

They are joined by restaurants which no longer close their doors at 9pm. Instead, they morph into bars with live music. Some have even taken to opening 24 hours.

加入这一行列的还有晚上 9 点不再关门的餐馆。相反,它们变成了有现场音乐的酒吧。有些甚至采取24小时开放。

Let’s also not forget the shopaholics. In Ningbo of Zhejiang Province, the daily turnover of 10 shopping malls within the city from 18:00 to 22:00 is accounting for 47.5 percent of the whole day’s revenue, 2.3 percentage points up on last year.

我们也不要忘记购物狂。在浙江宁波,市内10家商场每天18:00至22:00的营业额占全天营业额的47.5%,比去年提高2.3个百分点。

And the small concerts that are the focus of livehouses in many of China’s 1st And the small concerts that are the focus of livehouses in many of China’s 1st and 2nd tier cities have never had it so good. With audiences of between 200 or 1,000, professional performances venues, high-quality sound and effects, it can be hard to get a ticket these days.

而中国许多一二线城市以livehouse为重点的小型音乐会,以及中国许多一二线城市以livehouse为重点的小型音乐会,从来没有这么好过。观众人数在200到1000人之间,专业的表演场地,高品质的音响和效果,现在一票难求。

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