It's so abnormal, this year's National Day Golden Week holiday has just ended, and many people are still immersed in the joy and excitement of the holiday. However, what people did not expect was that it was foreigners who were more excited than the Chinese!
Recently, many media outlets, including United States and Japan, have focused on China and shown great interest in the consumption boom during this year's National Day Golden Week. What is particularly surprising to them is that the consumption perception of Chinese consumers has completely changed. And unanimously sighed: Chinese brands have risen!
Once upon a time, in the eyes of foreign media such as the American media and Japanese media, whether it was a traditional festival or a shopping festival in China, it was a profitable exhibition of various imported brands. For example, Apple, Nike, Adidas, L'Oreal and other Western brands, as well as overseas travel, etc., are almost sought after by all Chinese.
However, this year's National Day, the above phenomenon is gone, from the beginning to the end of the holiday, the consumption data in major fields continue to refresh, the national tide is out of the circle, and the good news of domestic products continues.
According to relevant statistics: during the November Golden Week this year, domestic consumers' enthusiasm for travel continued to rise, with 765 million domestic trips and a total travel expenditure of 700.817 billion yuan. Different from the past, this year's National Day domestic tourists are significantly less willing to go abroad, and many people are more inclined to domestic travel; In addition, the consumption of cultural services such as watching performances, watching movies, and visiting bookstores was active, and sales revenue increased by 85.2% year-on-year. Among them, the traditional culture was revitalized, the intangible cultural heritage of the national tide was brilliant out of the circle, and the cultural and museum venues continued to be popular, with an audience of 11.697 million, a year-on-year increase of 13.3%, domestic films accounted for 95.87%, and the total number of moviegoers exceeded 52 million.
In addition to culture and tourism, there are also domestic goods brands that are becoming more and more popular. For example, Apple's iPhone 16 released near the National Day is cold. According to relevant data, the pre-order sales of the iPhone 16 series in the first weekend after its launch fell by 12.7% compared with the sales of the iPhone 15 series in the first weekend last year. In this regard, some people believe that it is due to the decline in the spending power of domestic consumers.
In fact, it is obviously not right, because in stark contrast to the cold of the iPhone 16 series, the domestic mobile phone Huawei Mate XT is in short supply, and the first batch of pre-orders exceeded 6 million. During the National Day, Huawei and Apple completely staged two days of ice and fire.
For the above phenomenon, foreign media have also spoken. Some United States media said that the shopping carts of Chinese and even global consumers are being stuffed with Chinese goods; Some Japan media said that the presence of cost-effective Chinese brands continues to increase, the willingness to buy brands from other countries is decreasing, and the number of consumers who buy Chinese brands will increase to more than 66%.
In fact, the foreign media's statement is not wrong at all. In recent years, China's manufacturing has long been different from what it used to be, as the comprehensive competitiveness of Chinese brands continues to rise, more and more people believe in Chinese brands, Chinese consumers are becoming more and more confident, and national tide and domestic brands have been pursued by more and more people, no longer looking up to and pursuing foreign goods.
I have to sigh that Chinese brands have risen, the domestic and even global consumption trends have changed, and global consumers, including Chinese consumers, are more inclined to Chinese products. This is mainly due to the continuous innovation of Chinese brands through technology and business models, which has significantly improved the market competitiveness of Chinese brands, such as automobiles, mobile phones, games, etc.
In the field of mobile phones, Chinese mobile phone brands represented by Huawei, Xiaomi, OPPO, VIVO, etc. have improved their technical strength and continue to advance to the high-end market. Among the top five smartphone manufacturers in the Chinese market in 2023, Chinese companies occupy four seats; Among the top five sales in the global market, Chinese companies also occupy three seats.
In the field of games, after the domestic 3A game "Black Myth: Wukong" was launched, the highest number of simultaneous online users on the whole platform exceeded 3 million, and more than 10 million copies were sold in 4 days after it was launched, breaking the record of domestic stand-alone games in one fell swoop and entering the ranks of the world's top games. In the first half of 2024, the sales revenue of mainland-developed games in overseas markets was US$8.554 billion, a year-on-year increase of 4.24%. Chinese games are developing in depth towards a broader global market.
And what is especially proud of the Chinese people is the new energy vehicle industry. It is no exaggeration to say that today's Chinese new energy vehicle brands have changed from "followers" in the past to "leaders in the transformation of the global automotive industry", and have become an advantageous industry with global competitiveness.
According to relevant data, China's new energy vehicles have ranked first in the world for 9 consecutive years. In July 2024, China's new energy passenger vehicle market ushered in a historic milestone for the first time, with monthly retail sales reaching 878,000 units, and the penetration rate exceeding 50% for the first time, reaching 51.1%. In August, the monthly sales of new energy passenger vehicles exceeded one million units for the first time this year. Among them, the penetration rate of Chinese brand new energy vehicles reached 75.9%, which means that for every four domestic vehicles sold, more than three are new energy vehicles.
Of course, China's new energy vehicles can have today's glory, mainly thanks to the continuous innovation of many outstanding domestic car companies such as NIO, BYD, Li and Xiaopeng through technology and business models.
Taking NIO as an example, since its inception, it has been committed to building a global high-end smart electric vehicle brand originating from China. Today, NIO's market share of high-end pure electric vehicles with an average transaction price of 300,000 yuan has significantly surpassed that of traditional foreign luxury brands including Mercedes-Benz, BMW, and Audi. In the first half of 2024, the combined sales of BMW, Mercedes-Benz and Audi EV models will not be as good as NIO's.
According to the data, in July 2024, NIO's market share in the pure electric market with a transaction price of more than 300,000 yuan will reach 51.6%; In August 2024, NIO delivered 20,176 new vehicles, exceeding 20,000 units for four consecutive months. From January to August this year, NIO delivered a total of 128,100 new vehicles, a year-on-year increase of 35.77%. The overall good potential energy has been maintained to continue upward.
The above facts undoubtedly show that NIO models are becoming more and more popular, and Chinese car brands represented by NIO have penetrated the core market of traditional luxury cars such as BMW, Mercedes-Benz, and Audi, and have a place in this range. Chinese auto brands are no longer cheap and low-quality, but also have a certain status and voice in the high-end market.
There are two main reasons why NIO has been able to enter the core market represented by traditional luxury cars in the field of high-end pure electric vehicles.
First, a large amount of investment, through continuous innovation in technology and business model, so as to win strong competitiveness
Since its establishment in 2016, the NIO brand has invested more than 46 billion yuan in just eight years, becoming the enterprise with the largest R&D investment among the new forces, and countless technological achievements have also ushered in the harvest period. Underlying technological innovation is the background color of high-end brands, NIO adheres to the positive research and development of core technologies, and NIO has comprehensively self-developed in the fields of three electrics, electronic and electrical architecture, chips, and vehicle operating systems, achieving a breakthrough in the original system-level zero in China's automotive industry, and is a representative of Chinese-style modernization, new quality productivity and technological innovation enterprises.
So far, NIO has released China's first global vehicle operating system "SkyOS Tianshu", the first self-developed 5nm automotive-grade intelligent driving chip Shenji NX9031, a new generation of intelligent system Banyan 3, and China's first intelligent driving world model NWM NWM. Especially at the level of energy replenishment, it has built the world's first rechargeable, replaceable and upgradable energy replenishment system, and launched a BaaS innovative solution.
NIO is the leading company in China's new energy vehicle industry in terms of the number of self-built charging and swapping stations. In urban areas, 80% of the country's "electricity district housing" coverage rate has been reached, and more than eighty percent of users have at least one NIO battery swap station within 3km of their homes or workplaces. As of August 4, NIO has built a total of 2,464 battery swap stations, including 825 highway battery swap stations, which are convenient to go anywhere.
In particular, NIO innovatively launched the BaaS battery leasing solution, which is a business innovation model that has improved the circulation of NIO in the entire market and played a strong role in boosting sales. The car purchase solution of separating vehicle electricity not only lowers the threshold for car purchase, but also allows users to worry about battery life and attenuation. NIO's innovation in battery swap mode/BaaS mode puts the largest "black box" battery of second-hand electric vehicles on the bright side, making the purchase of second-hand electric vehicles more transparent and assured. By building a mature battery swap network and establishing a closed-loop system for battery safety monitoring, the battery life is further prolonged, the battery decay is delayed, and the value retention rate of second-hand cars is improved.
Second: users' perception of high-end car brands is changing, and domestic new energy brands are redefining high-end.
With the development of the automobile industry in the intelligent era, consumers' understanding of high-end cars has changed. There is no doubt that in the era of traditional fuel vehicles, Mercedes-Benz, BMW and Audi have always been representatives of leading technology and high-end brands. However, in the high-end of the intelligent era, it is not only limited to the dimension of traditional hardware, but also pays more attention to the software capabilities of vehicle intelligence, OTA continuous iteration, and the brand's innovative concept and value, which is the leading of technology and value.
In other words: to buy a high-end pure electric car, you need to buy one with high computing power, battery swapping, rolling technology, and full life cycle quality.
It is precisely because of NIO's continuous innovation in technology and business model that it has achieved a comprehensive surpass of traditional luxury brands in terms of products, technology, energy supplement, and brand.
In the end, today's Made in China is no longer what it used to be, and many Chinese brands represented by NIO are no longer synonymous with cheapness, imitation, and low quality, but have stronger comprehensive competitiveness. It has become a reality for domestic products to be self-reliant.
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