In recent years, with the vigorous development of the night economy, “night food”, “night shopping”, “night entertainment”, “night travel” and other night economic development is on the rise. According to public data, China’s night economy has grown rapidly since 2016, and in 2022, China’s night economy market will reach 42.4 trillion yuan, an increase of 6.0 trillion yuan over the previous year, an increase of 16.7%. It is expected that the market of China’s night economy industry will exceed 48 trillion yuan in 2023.
According to the Survey Report on Consumption habits of urban Residents released by the Ministry of Commerce in 2023, 60% of consumption in China takes place at night. For consumers, “beyond eight hours” of nightlife is becoming a necessity. LED display plays an important role in the night economy, they are widely used in indoor and outdoor billboards, commercial centers, hotels, restaurants and other places. LED display with high brightness, high definition, high contrast and other characteristics, can attract people’s attention, effectively convey information and attract consumers, and even become the city’s new network celebrity punch point.
The rise of cultural tourism has also brought new opportunities to the LED display industry. Based on technologies and products such as sound and electricity, the cultural tourism Night Tour designs and implements landscape lighting, cultural tourism and scenic spot upgrading, etc., provides services for the city government and tourist attractions, and expands the large-scale application of LED display products in this field. The high definition, brilliant colors and flexibility of the LED display greatly enhance the visitor experience and give visual charm to the cultural tour.
01. Policies help the development and growth of cultural travel economy
Since 2023, in order to further promote the development of the night economy and boost consumption vitality, a series of favorable policies have been introduced from the central to local governments. On July 31, 2023, the “Measures on restoring and expanding consumption” issued by the National Development and Reform Commission mentioned that it is necessary to promote the standardized and innovative development of night cultural tourism consumption, guide museums, cultural centers, amusement parks and other extended opening hours, and support the construction of a “24-hour life circle” in areas with conditions. The government has increased its support for the cultural tourism industry, providing financial and policy support for cultural tourism enterprises through financial funds, tax relief, innovation and entrepreneurship support, and encouraging them to expand the night economic market.
Subsequently, local governments also began to take the development of the night economy as the theme, and introduced various policies and measures to support, optimize the night business environment, improve supporting facilities and services, and develop and promote local characteristics of the industry to participate in creating a unique night economy model, which has become an important part of urban planning. In a series of systematic projects to build the urban night economy, the guidance and promotion of policies is a strong guarantee to light up the urban night and heat the night consumption. The following is the policy support of various local governments in the development of night economy since 2023.
Beijing
On March 22, “Beijing International Consumer Center City Leading Group Office on the issuance of” Beijing to promote the development of economic prosperity at night “Notice, Beijing City Culture and Tourism Bureau and Beijing Gehua City TV launched the” Moonlight Beijing “city night tour guide recommended list selection activities during the Mid-Autumn Festival and National Day. The activity will be linked online and offline, take the way of collecting and showing, and select the boutique of the collected content in the city’s outdoor media platform more than ten LED screens.
Shanghai Municipality
In March, Shanghai issued the “Key Points for Shanghai to Build an International Consumption Center City in 2023”, which made it clear that Shanghai will do a bright night economy, accelerate the creation of 15 landmark nightlife cluster areas and 10 waterfront nightlife experience areas around the “24-hour city” vision, and introduce high-quality guidance on the development of night economy.
Heilongjiang Province
In March this year, Heilongjiang issued the Guiding Opinions on Promoting the Development of the Night Economy to Further Promote the Stable Growth of Consumption. Around strengthening planning, creating consumer landmarks, upgrading the night business circle, encouraging delayed operation, leveraging the e-commerce platform, creating cultural tourism brands, expanding the sports market, strengthening the transportation organization, reducing and reducing the relevant fees, providing policy support for the development of the night economy in 10 aspects. At the same time, it is clear that three to five night economic demonstration blocks need to be built by the end of 2023.
Harbin City
In May, the “Harbin City Further Promote Night Economic Development Implementation Plan (2023~2025)” (hereinafter referred to as the “Plan”) was officially issued. The “plan” proposed that in order to develop the night economy, Harbin will build a “4+5+6+3+N” task framework, a total of 18 tasks, that is, to create 4 night economic bearing areas, 5 dimensions to create a night economic consumption atmosphere, 6 aspects to improve the night economic scene, 3 measures to comprehensively optimize and improve the quality of night economic service, and hold N night economic theme activities every year.
Kaifeng City
On July 13, Kaifeng City issued the “Kaifeng City Night Culture and tourism Consumption gathering Area Assessment Measures (Trial)” (hereinafter referred to as the “assessment Measures”), formulated the night culture and tourism consumption gathering area assessment rules, detailed the specific assessment content and score. On the basis of annual assessment, an incentive and restraint mechanism with rewards and penalties should be established.
Foshan City
On July 31, according to the news of Foshan City Development and Reform Bureau, the implementation of the Implementation Plan of Foshan City to implement the “Eight Key Points of Guangdong Province’s Recovery and Boost Consumption in 2023” (hereinafter referred to as the “Implementation Plan”), the plan pointed out that the implementation of Gigabit 5G and Gigabit optical network “double Gigabit” project, Promote the creation of 5G+4K/8K ultra-high-definition video boutique content, and encourage Jingying extraordinary network audio-visual Industrial Park, Chanchengfang digital audio-visual Culture Industrial Park and other network audio-visual professional parks and a number of representative enterprises to grow bigger and stronger.
Hangzhou City
On August 22, the “Ten policies” for the development of the night economy in Gongshu District of Hangzhou were released, and the “real money and silver” policy was used to create the night economy. In terms of night-view creation, Gongshu District will invest more than 10 million yuan in a single project of commercial subjects and characteristic blocks in lighting upgrading and large-screen transformation, according to 10% of the investment amount, and give a maximum reward of 1 million yuan to encourage businesses to create distinctive night-view; In terms of promoting night purchase, it will increase support for commercial outswing, encourage the complex to extend business hours, and give up to 100,000 yuan support according to the extended days.
Liupanshui City
On August 18, Liupanshui City issued the “Ten Measures to promote Consumption in Liupanshui City in the second half of 2023”, which issued 2 million yuan of night economic government consumption vouchers and coordinated 300,000 yuan of funds to subsidize key night consumption regional market players. Coordinate the outdoor large screen, LED electronic display, publicity bar and other carriers to put consumer propaganda content. Complete the tourism map drawing covering the city’s boutique tourism, classic food, sports, shopping and other content, create a cultural and creative hand gift, net celebrity punch point, and further amplify the publicity effect.
Guangzhou City
On August 23, the Guangzhou Municipal Bureau of Commerce issued the “Several Measures for Cultivating the Yangcheng Night Market Pilot Area to help the construction of an international consumption center City in Guangzhou”, proposing 18 specific measures to promote night consumption in Guangzhou from four aspects: night consumption carrier, night operation supervision, night activity organization and night supporting support. Burnishing the “Young City Yeah City” urban night consumption brand.
02. The prosperity of night travel LED the development of the LED market
With the introduction of the policy to support the night tour of cultural tourism, the night economy has developed rapidly, and more and more cultural tourism activities are carried out at night. As an important visual display medium, LED rental screens and LED stage screens play an important role in night cultural travel activities. The increase and diversity of night cultural travel activities have promoted the growth of market demand for LED rental screens and LED stage screens.
At the same time, the government has also increased investment in the construction of night economic infrastructure, improving the lighting and lighting facilities of night scenic spots and neighbourhoods, improving the night environment, and creating a more attractive night scene. Night cultural Tours often attract a large number of tourists and viewers, which provides valuable advertising opportunities for advertisers. By setting up a large LED display screen on the scene, you can play advertising content in real time, attract the attention of tourists, and increase brand exposure and visibility. At the same time, the LED stage screen can provide high-quality visual effects for the performance, and further enhance the effect and influence of advertising.
In particular, the naked eye 3D screen has become a network red card point in many urban business centers, and the naked eye 3D screen is a display technology that can watch the real 3D effect without wearing special glasses. In the cultural travel night tour, the naked eye 3D screen can present a more vivid landscape and visual effects for tourists to enhance the viewing experience. For example, by setting up naked eye 3D screens in night scenic spots, parks, commercial centers and other places to display three-dimensional landscape models, animations or special effects videos, so that tourists feel immersive experience, the application of naked eye 3D screens further enhance the attractiveness and competitiveness of cultural travel at night.
It is worth mentioning that the government supports the holding of various night cultural tourism activities and festivals, such as concerts, light shows, cultural exhibitions, etc., to attract tourists and invigorate the night economy. However, the evening cultural tour cannot be held without the support of partners and sponsors. LED rental screen and LED stage screen rental companies in the night tour of cultural tourism has great prospects, through cooperation with the organizers of night cultural tourism activities, to provide all kinds of screen equipment and solutions, you can get more business opportunities.
03. Cultural travel night tour has become a new incremental market for LED screen companies
According to the results of the 2023 semi-annual report, the operating income of the cultural travel night tour business segment in the first half of the year was about 440 million yuan, an increase of 21.80%, accounting for 10.95% of the company’s business income, which shows the rapid development of the cultural travel night tour market.
At the same time, the rise of the night economy and cultural tourism has also prompted the LED display industry to continue to innovate and upgrade. In order to meet the changing needs of the night economy and the cultural and travel industry, LED display companies continue to introduce new products and solutions. For example, the outdoor LED display should not only have waterproof, dustproof and other characteristics, but also have the characteristics of long visual distance, energy saving and environmental protection. At the same time, with the development of science and technology, some new LED display products are gradually emerging, such as LED flexible display, LED transparent display, naked eye 3D screen, etc., providing more creativity and possibilities for the night economy and cultural travel.
In addition, the rise of the night economy and cultural tourism has also had an impact on the market pattern of the LED display industry. With the continuous development of the night economy and the cultural tourism industry, more and more companies are pouring into the LED display market, and the competition is becoming more and more fierce. Enterprises need to pay more attention to product quality and technological innovation, and provide diversified products and solutions in order to remain invincible. At the same time, the night economy and cultural tourism industry also provide more opportunities for cooperation, LED display companies can actively cooperate with the night economic places, cultural tourism scenic spots, etc., to establish long-term strategic partnerships.
In general, the rise of the night economy and cultural tourism has brought great opportunities and challenges to the LED display industry. In the face of hundreds of billions of market, as an important participant in the cultural tourism economy, LED screen companies should continue to meet the needs of the cultural tourism market, promote technology research and development innovation and strengthen multi-faceted cooperation, which will be the key to the success of LED display companies in this development opportunity, determining whether LED screen companies can get a share of the new blue Ocean market.
