Consumption is an important component of the national economic cycle, directly related to the smooth operation of production, distribution, and circulation. Digital consumption breaks through the limitations of traditional consumption time and space, not only profoundly changing people's consumption and lifestyle, but also constantly giving birth to new forms and vitality of physical commercial space, profoundly reshaping China's consumption landscape and economic operation logic. By 2025, the digital consumption scale of Chinese residents will reach 25.3 trillion yuan, a year-on-year increase of 8.7%, which is much higher than the overall consumption market. In terms of user scale, the number of digital consumer users in China will exceed 958 million in the first half of 2025, accounting for 85.3% of the total number of netizens. Digital consumption has become a key driving force for expanding domestic demand, optimizing supply, and leading consumption upgrading. To provide precise adaptation to demand and unleash consumption potential. With the increase of residents' income level, their consumption presents characteristics such as quality, diversity, and personalization. In the digital consumption scenario, through deep learning and analysis of massive user data, the market can perceive consumers' explicit needs and implicit preferences, and reverse drive dynamic changes in the supply side, thereby stimulating the endogenous driving force of consumption and realizing the exploration of consumption potential. The impact of digital consumption is bidirectional. On the one hand, for consumers, digital consumption utilizes intelligent technology to help reduce transaction costs such as information search and decision-making costs, achieving precise satisfaction of their needs; For producers, real-time feedback of consumer data provides a basis for insight into market trends, enabling precise design and production based on personalized consumer needs, which provides the foundation for supply-demand adaptation. On the other hand, digital consumption establishes a channel between consumption and supply. Consumers can directly participate in the design, research and development, and optimization of products through online evaluations, community feedback, pre-sale customization, and other channels, achieving the return of consumer sovereignty. Currently, China's bulk consumption of housing, automobiles, household appliances, and other goods has entered a period of steady growth. Digital consumption, by meeting personalized consumption needs and stimulating endogenous consumption power, is becoming the core driving force for sustained consumption growth. Expand consumption space and stimulate the consumption potential of sinking markets. The sinking market is a potential range for the expansion of consumer space in China. Digital consumption breaks through the limitations of traditional consumption in terms of geography, time, and user groups, and aggregates dispersed and niche market demands into large-scale market demands, making personalized supply that was originally not commercially feasible economically reasonable. According to data from the National Bureau of Statistics, by 2025, the market size of counties and townships, including towns and villages, will account for 38.7% of the total retail sales of consumer goods, nearly 40% of the national total. In terms of growth rate, the retail sales of consumer goods in urban areas increased by 3.6% compared to the previous year; The retail sales of consumer goods in rural areas increased by 4.1%, with a growth rate faster than that in urban areas for three consecutive years. The logic behind the rise of consumption in the sinking market lies in the integration of digital technology and consumption scenarios, promoting the localization of consumption. Existing county-level commercial facilities are deeply integrated with digital technology, and business formats are constantly innovating. The most distinctive rural gatherings with local characteristics are also developing towards standardization, specialization, and digitization through short videos, live broadcasts, and other means. The stimulation of consumption potential in the sinking market is becoming an important driving force for the three major national strategies of expanding domestic demand, rural revitalization, and urban-rural integration development. It is not only an important lever for stabilizing growth, but also a key measure to benefit people's livelihoods, showing a significant strategic synergy effect. Eliminate barriers to service consumption and promote the expansion and improvement of service consumption. From both international experience and changes in residents' demand, service consumption represents the trend of upgrading China's consumption structure. However, traditional service consumption has the characteristics of synchronous production and consumption, and non storability. Its development highly relies on offline scenarios and regional space, which makes it difficult for high-quality service resources such as healthcare, education, and elderly care to cover the edges of large cities, small and medium-sized cities, and sinking markets, thus restricting the inclusive development of service consumption. Through online and intelligent transformation, digital consumption has pushed traditional service consumption to break through the limitations of time and space, achieving comprehensive coverage of high-quality service resources. Digital service models such as telemedicine, online education, smart elderly care, and cloud tourism enable rural residents and residents of small and medium-sized cities to equally enjoy high-quality service resources in first tier cities, greatly unleashing the service consumption demand of the whole society. At the same time, the deep integration of digital technology and service consumption has created a new form of digital native service consumption, promoting the extension of service consumption from traditional areas such as clothing, food, housing, transportation, science, education, culture, and health to new fields such as immersive experiences, virtual services, and AI professional services, creating new experiential service consumption scenarios, and promoting the extension of service consumption to all scenarios and all time periods. Overall, digital service consumption can optimize service supply, expand service coverage, break the deadlock of supply-demand mismatch, consolidate the foundation for sustained consumption growth, and is also an inherent requirement for meeting people's needs for a better life and improving their quality of life. Optimize supply and improve efficiency. Realizing a positive interaction between supply and demand is an important way to promote high-quality economic development in China. The massive consumption data accumulated through digital consumption is the core production factor for optimizing supply on the production side. Production enterprises can accurately grasp the changing trend of market demand through consumption big data, adjust production plans in advance, optimize product design, achieve on-demand production and production based on sales, resolve the problem of overcapacity at the root, and improve the quality and efficiency of the supply system. The circulation link is a key link connecting production and consumption. The traditional circulation system has pain points such as multiple links, long chains, and high costs, which push up terminal consumer prices and also restrict the efficiency improvement of the supply system. Digital consumption relies on technologies such as big data, artificial intelligence, and the Internet of Things to promote the digital reconstruction of the supply chain system, achieving the integration of commercial flow, logistics, capital flow, and information flow, greatly optimizing circulation efficiency, and achieving direct connection between the production and consumption ends. This not only enhances the profit margin of production enterprises, but also benefits consumers, achieving a win-win situation for supply and consumption. (Outlook on the New Era) Author: Li Yongjian (Researcher at the Institute of Finance and Economics Strategy, Chinese Academy of Social Sciences)