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The "first-mover economy" becomes a new engine for the development of the tourism industry

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2025-01-20

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Editor-in-Chief | Yang Ming

Editor | Liu Kaiye

Come Source | Beijing Tsinghua University Cultural Industry Planning and Design Research Institute

The "first-release economy" has provided new opportunities and directions for the development of the cultural and tourism industry. By actively developing the integration of the first-release economy with different sub-sectors and innovating diversified consumption scenarios, the cultural and tourism industry can continuously enhance its attractiveness and competitiveness, achieving sustainable development.

In 2025, more proactive policies will be implemented, with innovation in diversified consumption scenarios, expansion of service consumption, and promotion of the cultural tourism industry being highlighted. The first-release economy, as a new engine for boosting consumption, has been given unprecedented importance.

In 2025, a more proactive policy tone was further set, with vigorously boosting consumption becoming a key task. New concepts such as the first-release economy, ice and snow economy, and silver-haired economy have pointed the way for the future development of the cultural and tourism industry.

So, what is the first-release economy? Why is it so popular? For cultural and tourism enterprises and local governments, how can they seize this new opportunity? Today, let's have an in-depth discussion about this "new engine" of consumption upgrading.

What is the first-release economy?

The first-release economy is not unfamiliar to the domestic commercial and tourism industry. Simply put, it is about making the most of "firsts"—first-released products, new technologies, new models, new services, or even the first stores opened and new business formats, all can be classified under the category of "first-release economy".

The concept of the first-release economy originated from the "first-store economy." As early as 2015, Shanghai proposed seizing the opportunity of the "first-store economy" by attracting well-known domestic and international brands to open global flagship stores, China flagship stores, or regional flagship stores, injecting consumption vitality into the city. However, the first-release economy is clearly more than just "opening stores"; its connotation is richer, involving the entire chain of development from research and development, release, and promotion to sales.

Shanghai Hui Ju, which officially opened before the National Day holiday in 2024, introduced more than 312 carefully selected brands, with flagship stores and special concept stores accounting for about 71%, including 23 national flagship stores, 29 Shanghai flagship stores, 77 regional flagship stores, and 51 brand flagship stores and concept stores. The veteran shopping mall, Long Dream City Life Center, also grasped the "traffic code" of the first-release economy. Since 2019, Long Dream has cumulatively introduced nearly 1,000 national, Shanghai, and regional flagship stores, with currently 454 national, Shanghai, and regional flagship stores operating in the mall.

"The first-release economy" is a more systematic and comprehensive economic model. Enterprises launch innovative and unique new products, new business formats, or new services to satisfy consumers' curiosity and new experiences, attracting consumers' attention and interest, and thus driving consumption growth.

To truly understand the charm of the first-release economy, it can be summarized with "three keywords": first appearance, chain development, and trendsetting.

First Appearance: Grabbing Your Attention The core of the first-release economy is "first." Whether it's products, technology, or services, a first release always brings strong attention. This "first-release effect" not only attracts consumers but also becomes a "traffic code" for cities and enterprises. For example, during the Beijing Winter Olympics, new products and services launched around the ice and snow economy attracted global attention through their first appearance.

Chain Development: Not a "One-Off Deal" The first-release economy is not just the excitement of "a press conference" but a complete industrial chain. From research and development to release, promotion, and sales, every link is crucial. For example, the success of Apple's annual new product launch event relies not only on the product itself but also on its supporting supply chain, marketing system, and global first-release event layout.

Trendsetting: Making Consumption More Fashionable The first-release economy comes with a "sense of fashion" and "trendiness," highly consistent with the trend of consumption upgrading. Consumers are willing to pay for "first releases," not only because of the products themselves but also because the first-release events themselves have become a symbol of trend culture.

Why is the first-release economy so popular?

Why can the first-release economy lead consumption and become the "top stream" of economic models? From a deeper perspective, it is because it has the following characteristics:

Leadership and Trendsetting: The first-release economy represents the latest consumption trends and trend culture. By first releasing new products and services, it accurately captures consumers' desire for freshness and quality, leading the market's consumption direction.

Innovation and Differentiation: The first-release economy emphasizes innovation and differentiation. Through first-release events, enterprises can convey a brand image of "I'm trendy" and "I'm innovative" to consumers, seizing the "first-release" high ground in a fiercely competitive market environment, and first gaining consumers' attention and trust by providing unique products and services to meet consumers' personalized needs.

Interconnectivity and Driving Force: The first-release economy is an important lever for driving consumption and enhancing the vitality of urban commerce. By creating a "first-release economy" brand, it can not only attract consumers but also attract brands, R&D centers, and innovative resources to land, driving the prosperity of surrounding businesses, forming a cluster effect, and enhancing the commercial value of the entire region.

What policy support is available?

The 2024 Central Economic Work Conference placed "vigorously boosting consumption, improving investment efficiency, and comprehensively expanding domestic demand" at the top of the priority tasks for 2025, with "actively developing the first-release economy" as a key measure.

The Third Plenary Session of the 20th Central Committee of the Communist Party of China also proposed actively promoting the first-release economy, positioning it as an important component of promoting high-quality economic development to improve and expand the long-term mechanism for consumption.

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Many places have also introduced supporting policies, and the first-release economy is showing a positive development trend.

In April 2024, Shanghai issued "Several Measures on Further Promoting the High-Quality Development of the First-Release Economy," introducing seven policy measures to promote the high-quality development of the first-release economy, aiming to promote its development through policy support.

In December 2024, the Ministry of Commerce and six other ministries jointly issued the "Implementation Plan for the Retail Industry Innovation and Upgrading Project," explicitly mentioning "innovating fashionable commerce, developing the first-release economy, introducing globally renowned brands, and supporting first stores, first exhibitions, and first shows." This shows that the first-release economy has been incorporated into the overall national strategy for retail industry innovation and upgrading.

In December 2024, the Chengdu Municipal Bureau of Commerce and Trade issued the "Action Plan for Upgrading the Industrial Clusters of Chengdu's Commerce and Trade Parks." The plan aims to attract over 130, 145, and 160 high-level flagship stores to the city's commerce and trade parks by the end of 2025, 2027, and 2029 respectively, and to hold over 30, 40, and 50 premiere shows, launches, and exhibitions respectively. This demonstrates Chengdu's strong emphasis on and support for the first-mover economy.

How can the tourism and culture industry seize the benefits of the "first-mover economy"?

Tourism and culture is an industry that demands innovation and creativity, constantly pushing boundaries; this characteristic perfectly matches the core of the first-mover economy. So how can the tourism and culture industry seize the benefits of the "first-mover economy"?

First, Enhance the Brand Value and Attractiveness of Tourism Projects

The introduction of the first-mover economy significantly enhances the brand value and attractiveness of tourism projects. The flagship stores of well-known brands, with their high recognition and reputation, become powerful magnets attracting tourists. This not only directly drives increases in tourist traffic and revenue for tourism projects, but also subtly elevates the project's brand image and market position.

Beijing Shougang Park, through planning "first store," "first launch," "first show" and other branded fashion events, successfully created a science fiction industry cluster, attracting numerous tourists and transforming Shougang Park from an industrial relic into a new landmark blending fashion and culture.

Second, Promote Innovation and Upgrading in the Tourism Industry

The first-mover economy is not just a consumer frenzy; it's a crucial driver of industrial upgrading. To attract flagship stores, first launches, and first shows from well-known brands, tourism projects must constantly innovate in product design, service models, and marketing to meet consumers' ever-growing personalized needs. This innovation not only drives the transformation and upgrading of the tourism industry, but also injects new vitality into the entire sector.

Dalian Xiong Dong Street, using mechanical beasts as its core IP, pioneered a "two-dimensional core" tourism and commercial model, providing new ideas for innovation in the tourism industry.

Third, Promote Diversification and High-Quality Tourism Consumption

The prosperity of the first-mover economy promotes the diversification and high quality of tourism consumption. With the increase in the number of "first stores," "first launches," and "first shows," and the diversification of consumer demand, tourism consumption exhibits richer forms and higher quality. While visiting tourism projects, tourists can enjoy a variety of high-quality consumption experiences, including specialty dining, cultural creativity, and fashion retail. This not only improves tourist satisfaction and loyalty, but also brings more business opportunities and development space for the tourism industry.

Chengdu's East Suburb Memory, by constructing a "first store + block" model, has formed a distinctive commercial ecosystem, attracting numerous tourists to consume and experience.

Fourth, Strengthen the Integrated Development of Tourism and Various Economies

Through unique and innovative first-mover cultural and artistic works and exhibitions, generating buzz and attention, it will surely attract many culture enthusiasts and tourists to watch performances and check in, paying attention to related cultural derivatives, tourist souvenirs, and related leisure supporting products, thereby improving overall leisure consumption.

The "first-mover economy" can also be combined with the "ice and snow economy" and the "silver-haired economy" to jointly promote the development of the tourism industry. Holding first-mover ice and snow events, ice and snow music festivals, etc., will attract tourists to participate in ice and snow tourism. Developing first-mover tourism products suitable for the elderly, such as health tourism and cultural experience tourism, will meet the tourism needs of the elderly.

Recently premiered at the MGM Cotai theatre in Macau, "Macau 2049" is an innovative stage performance jointly presented by Zhang Yimou and MGM China. In 80 minutes, the performance showcases eight forms of intangible cultural heritage: Northwest Flower Songs, Mongolian Khoomei, Miao Ancient Songs, Peking Opera's "Three Crossroads," Northern Yangge, Yi Yi Sheng, Chinese Lion Dance, and Shaanxi Storytelling. All intangible cultural heritage-related programs are presented in their original form by inheritors from across China. The entire performance uses eight internationally recognized languages to creatively explain the programs and cleverly integrates modern technology from 20 countries and regions worldwide, giving intangible cultural heritage a completely new presentation.

As a new engine and driving force for the transformation and development of the tourism industry, the first-mover economy has a profound impact and broad prospects.

Enterprises should attach importance to "first-mover" opportunities at the strategic level, ensuring that they have truly competitive new products or technologies for first launches, focusing on the innovation and experience of first-mover activities, and improving consumer participation.

Local governments should have a clear industrial plan for the "first-mover economy," providing support for enterprises' first-mover activities through policy guidance and resource integration.

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