Chinese urbanites bring consumption boom
Movies, fitness gain popularity as lifestyle changes
Even though An Shanxuan and her eight-year-old son got to the theater 40 minutes early, it was already packed with enthusiastic moviegoers.
This was the third movie An watched at the 2022 Beijing International Film Festival, which concluded on August 20. A regular attendee at Beijing movie festivals, she bought a total of 12 tickets this year, spending more than 700 yuan ($103).
“The film festival is so popular that I had to set an alarm to purchase tickets,” she said.
Tickets for the week-long film festival sold out as soon as they were made available for reservations, indicating that the fest has injected a new dynamic into China’s recovering film industry, once hard hit by the COVID-19 pandemic.
The high-quality films at the festival attracted all types of cinema aficionados, from families to senior citizens, to the theater. “We were here to watch a claymation movie tonight,” An said. “I showed my son some posters of the animation film, which piqued his curiosity.”
As of August 16, China’s summer vacation box office hit 7.75 billion yuan, up 400 million yuan from last year, according to movie data provider Beacon.
“This summer’s film market has rebounded to an optimal level, both in terms of theater attendance and the availability of popular movies,” said Liu Zhenfei, senior analyst with Maoyan Research Institute.
In the first half of this year, however, Chinese cinemas saw a slump in the box office due to sporadic COVID-19 cases. Earlier this month, the China Film Administration said it would issue 100 million yuan worth of movie ticket vouchers.
Bigger box office
Such consumption subsidies are likely to increase the country’s box office by 500 million yuan to 1 billion yuan, Zheshang Securities said in a report.
China’s film market is expected to reach 361.8 billion yuan by 2024 as the COVID-19 disruptions wane and consumers’ pent-up consumption demand continues to be unleashed, according to data analysis agency iiMedia Research.
The film industry is not the only sector that is coming through. As the fight against COVID-19 has increased people’s awareness of their health and the necessity of exercise, industry experts asserted that innovative gyms will stand out among their competitors in the long run.
Locker Space, a Beijing-based fitness club, launched online training courses when a flare-up of COVID-19 cases hampered normal operations earlier this year. “Online courses managed to meet demand for exercise during lockdowns,” said Chu Zhen, manager of the club.
“During lockdowns, I took online training courses with at home,” said Zi Xuan, a 25-year-old sports enthusiast, who recently spent 20,000 yuan for 48 private training lessons. “It is my largest expenditures this year and I feel excited.”
The country’s growing affluence and people’s increased concern about their health amid the pandemic have fueled the sports boom, driving customers’ willingness to splurge on sports.
Around 67.5 percent of people aged seven and above engaged in physical exercise at least once a week this year, up 18.5 percentage points from 2014, report showed.
Niche sports
On top of common gym workouts, “niche sports” like paddle boarding, frisbee games and biking have gained steam on social media platforms this summer.
Chu, who is also a frisbee enthusiast, said he once played the sport eight times a week. “Frisbee gives me the thrill of extreme concentration and devotion,” he said, adding that the pleasure can be addictive.
Riding the wave of novel sports, Locker Space has developed activity courses including frisbee sessions.
“The courses are quite popular since they are beginner-friendly, and offer an outlet for people’s desire for outdoor sports amid the pandemic,” Chu said.
During the Beijing Sports Consumption Festival this month, consumption of sports-related services surged 56 percent month-on-month, and sales of outdoor sportswear jumped 81 percent compared with last year, latest data from JD.com showed.