Cultural Night Tour —— Fast-growing Field of China’s Outdoor Lighting Market

Cultural Night Tour —— Fast-growing Field of China’s Outdoor Lighting Market

Cultural Night Tour

The strong rise of night economy has also set up a new stage for outdoor lighting enterprises, which will be an important direction for the future development of outdoor lighting industry.

With the acceleration and upgrading of contemporary consumption, "night economy" appears frequently as a new consumption growth point. In December 2019, the word "night economy" was selected as one of the top ten new words in Chinese media released by China's National Language Resources Monitoring and Research Center.

According to the definition of Baidu, "night economy" refers to the economic activities of the service industry from 18:00 to 2:00 in the morning of the next day. The development of "night economy" is a powerful measure to improve urban consumer demand and promote the adjustment of industrial structure. Night consumption demand is a kind of high-level consumer demand.

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The statistics show that the developed cities are the vanguard of the night economy, and the development degree of night economy is consistent with the economic development degree. In cities such as Beijing, Shanghai, Guangzhou and Shenzhen, night consumption accounts for about 60% of the annual consumption. In Wangfujing, Beijing, the peak passenger flow of more than 1 million people is at night market. In Chongqing, more than 2/3 of the catering turnover occurs at night.

Earlier, a number of cities across the country have introduced "night economy" related policies. Among them, Beijing issued 13 specific measures to build a "city that never sleeps", further prosperity of the night economy; In order to develop the "night economy", Shanghai has set up a "night district chief" and a "nightlife chief executive". Jinan issued ten "night economy" new policies, upgrade lighting and so on; Tianjin through the construction of a batch of night economic carrier, in order to create a "night city", really not to be underestimated.

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The strong rise of night economy has also set up a new stage for outdoor lighting enterprises, which will be an important direction for the future development of outdoor lighting industry.

In front of the new opportunities, many outdoor lighting enterprises actively launched actions, will also accelerate the explosion of the cultural tourism night tour industry. The most typical case is Mingjia Hui. On May 27th this year, in order to focus on the dominant business of landscape lighting and night tour, Mingjia Hui announced to acquire 20% equity of Beijing Dahua Shenyou Lighting Technology, a subsidiary of Wenlv Holding Company, and invested to establish a joint venture company. Mingjia Hui said that in 2020, it will focus on developing the market of night tour and smart light pole. In the next three years, Mingjiahui will deepen the horizontal extension from a traditional lighting engineering enterprise to the night tour economy and smart city construction, and gradually transform to the long-term strategic goal of "double wheel drive" of smart lamp pole and night tour.

Since the beginning of this year, major provinces across the country have released the list of major project investment in 2020, with the investment amount reaching trillions of yuan. In the investment planning of each province, cultural tourism projects account for a high proportion, and the project scale and investment amount should not be ignored. In addition, in the Implementation Opinions on Promoting Consumption, Enlarge Capacity, Enhance Quality, and Accelerate the Formation of a Strong Domestic Market jointly issued by the National Development and Reform Commission and 23 other government departments, it is also clearly proposed to "focus on improving the quality and upgrading of cultural, tourism and leisure consumption".

Therefore, with the promotion and construction of cultural tourism projects in all provinces in the country in 2020, the lighting fields such as landscape lighting and night lighting under the night economy will usher in greater development, and China's outdoor lighting enterprises will be able to embrace a larger market space.

 


Post time: Apr-30-2021