A bustling international coffee market has brewed up interest among crowds of consumers in Beijing during the 2024 Financial Street Forum Shopping Season, which started on Thursday.
The shopping season is being held alongside the ongoing Financial Street Forum in the city's central Xicheng District, running from Friday to Sunday. Other events attracting visitors during the season are a Huawei product roadshow, an outdoor auto show, and discount voucher giveaways.
The FS Coffee Gala has proven to be the highlight and has brought together more than 70 coffee, beverage and dessert brands from home and abroad, and gathered over 50 coffee shops across the district to join the promotional session.
"Right now, we are selling one spoon of tiramisu for 80 yuan (about 11.26 U.S. dollars). Customers can add 48 yuan, so 128 yuan [in total] with the original price, and we are at a 20-percent discount for food and drinks in our restaurant," said a vendor at the event.
During this period, Xicheng District will distribute vouchers to the public, providing benefits through various platforms. Given its location on Financial Street, many office workers are gathering during lunchtime.
"During the Financial Street Forum Shopping Season, we've planned the Financial Street International Coffee Festival for the general public. This includes a coffee market with over 70 coffee, dessert, bakery, and creative brands participating, as well as a coffee and dessert competition where regular consumers serve as judges," said Liu Jing, chief operating officer of the Beijing section of Time Out, a leading global entertainment brand.
Among the Xicheng coffee shops that joined the event, hidden in the northwest corner of the first floor of the historic Baita Temple Pharmacy, Yao Cafe provides visitors with a unique tasting experience by mixing herbal medicine and coffee beans.
"I'm from Zhejiang, and this is my first visit here. I ordered a cup of coffee that contains ingredients from Chinese medicine to soothe the throat," said a consumer at the shop.
Economists said the shopping season has taken the Financial Street beyond its role as a professional exchange platform for financial industry practitioners, becoming a place for the general public to share joy.
"The government should also consider rolling out policies from two sides. From the demand side, to help our consumers have more disposable income to spend. And the same time, also consider to have some policies supporting our supply side [by offering] those companies in the market subsidies or tax benefits, all sorts of policies to help them have a sustainable growth in the market," said Denis MK Cheng, consumer sector leader of consulting firm EY Greater China.
Coffee gala buzzes as Beijing's Financial Street Forum kicks off shopping season
