How to open the night economy and grasp the night consumption market by sharing charging treasure

With the rapid growth of the urban economy, nighttime has also become the prime time for people to consume, and even 60% of the city's consumption occurs at night. In recent years, the demand for nighttime consumption has gradually grown, and the night economy has rapidly emerged.

Data from the "China Nighttime Economy Latest Development Report" shows that the development scale of China’s nighttime economy will exceed 30 trillion yuan in 2022, increase to 36 trillion yuan in 2023, and the market of China’s nighttime economy industry will exceed 48 trillion yuan in 2024.

The number of moviegoers in movie theaters at night is rising year by year; stores in late-night food streets are doing brisk business; ticket sales for concerts, performances and other cultural events are rising. Sales at large shopping malls account for more than 50% of the whole day's sales from 18 to 22 hours every day. These figures show that the nighttime consumer market continues to heat up.

The United States, the United Kingdom, Thailand, Japan, South Korea and other countries are even earlier to open the night-time economy, and New York has also implemented a 24-hour overnight subway, as early as 2019, the night-time economy for the city of New York created 19.1 billion U.S. dollars in economic output.

In 2017, the night economy accounted for 6% of the GDP of the whole United Kingdom, and in the same year, the night economy revenue of the City of London amounted to 26.3 billion pounds, and it is expected that it will reach 30 billion pounds by 2030, and the night economy in London has become the fifth largest industry in the United Kingdom.

The market trend of the night time economy has driven the night time revenue to maintain a high growth rate. From small street food and drink outlets, party bars to 24-hour leisure and entertainment venues, the catering, entertainment and cultural industries have extended their opening hours. While extended business hours create new market demand, how can products cater to the new market trend and create more business benefits?