Ali Released 2019 Walking Street Economic Report: Digitalization To Promote "Old Street Freshmen"

On January 7th, the 2019 Alibaba Pedestrian Street Economic Report (hereinafter referred to as the "report") shows that from October 2018 to October 2019, 11 pilot pedestrian streets are booming, and the consumption amount under the line has increased by 36.7% over the same period, which has taken precedence over the same period. The total passenger flow has increased by 23.3% in October, showing a positive trend of increasing number of youths and more active consumption at night.

According to the media, pedestrian street is a gathering area of urban commercial resources, concentrating large and small shops and various formats, playing an important role in promoting consumption. By the end of 2018, the Ministry of Commerce launched the first batch of pilot projects in 11 pedestrian streets nationwide, trying to get new growth through digitalization.

According to the report, as of October 2019, the number of consumers in 11 pilot pedestrian streets increased by 15.5% compared to the same period last year, and the consumer price increased by 18.3% over the same period last year.

Among them, Shanghai Nanjing Road, Wuhan Jianghan Road and Chongqing Monument for Liberation have the strongest consumption power, giving priority to total consumption. Beijing Wangfujing, Shanghai Nanjing road and Chongqing Monument for Liberation are the "moat walking street", and the unit price is the priority. Chengdu Kuan Alley and Zhai Alley, Shanghai Nanjing road and Hangzhou Hubin Road are most attractive to young people, ranking the top three among young passengers. Wuhan Jianghan Road, Guangzhou Beijing Road, Shenyang middle street accounted for the highest proportion of young consumers.

Taking lakeside pedestrian street as an example, "wisdom" is a highlight of lakeside pedestrian street. Based on the intelligent guidance system of Ali cloud "city brain", visitors can see the number of empty cars, the street food list, the time of West Lake cruise boats, the music fountain scene and other information in the nearby parking lots, and the consumption experience is greatly optimized.

Digitalization helps catering businesses achieve double growth on line and online. The report shows that Chengdu Kuan Alley and Zhai Alley, Wuhan Jianghan Road and Nanjing Confucius Temple become the most favorite food products with local specialties, accounting for the top three of restaurant consumption. Word of mouth data showed that after 90, the banner of Kuan Alley and Zhai Alley's catering consumption was raised, accounting for over 43%.

In addition, the pedestrian street incorporating the elements of consumption, tourism and culture has enriched the night consumption experience through digitalization, and has formed a new growth point of the night economy. The report shows that at 18-19 hours, the traffic volume and the number of payment pens on the 11 pilot pedestrian streets are all day high. In September 2019, the overall activity level of 11 pilot pedestrian streets increased by 1.5 percentage points over the same period last year, up 2 percentage points from October. Among them, Xi'an Datang night city and Nanjing Confucius Temple became the most popular pedestrian streets at night, both at night and at night.

According to the study, the offline commerce represented by the pedestrian street has huge new growth space. By improving the digital business infrastructure and improving the consumption experience, the promotion of business efficiency with digital solutions will become the future path of more "old street freshmen".