Holiday spending reflects the rise of China’s consumer market
People visit the Jiaxiu Pavilion in Guiyang, capital of southwest China’s Guizhou Province, Oct. 1, 2022. (Xinhua/Tao Liang)
BEIJING, Oct. 5 (Xinhua) — During China’s national holiday, online and offline shopping has gained momentum in the country, thanks to increased consumer enthusiasm and the implementation of consumption-oriented policies.
During the seven-day Golden Week, various pro-consumer activities were launched across the country to boost consumption and support the recovery of China’s consumer market, said Shu Jueting, a spokesman for the country’s Ministry of Commerce.
Local authorities come up with various measures, including distributing consumer vouchers, enriching travel activities and organizing consumer festivals to encourage tourism culture and consumption.
For example, the city of Fuzhou in China’s southeast Fujian province plans to issue 3 million yuan ($423,000) in consumer vouchers during the holiday season to encourage spending, and Sichuan in southwest China will organize more than 70 activities such as cultural and evening tours to attracted passengers.
“Local governments have taken strong measures this year, and they are available to a wider range of consumers,” said Chen Lifen, a researcher at the State Council’s Development Research Center, adding that such moves will further unlock consumption potential.
Travel is high during the Golden Week holiday season. According to Lvma, the country’s online travel agency, bookings for travel during the seven-day holiday through its platform increased by more than 87% from September 11 to 20, compared to the previous 10 days.
Travel products have become increasingly popular on online delivery platforms, reflecting the holiday boom.
Data from Meituan, one of China’s online delivery platforms, showed that in the week before the holiday, online searches for travel toothbrushes, travel bottles and shampoo sets increased by 1,037%, 368% and 272%, respectively, compared to a week ago.
With the growing interest in outdoor recreation among Chinese people, sales of outdoor equipment have also skyrocketed. In the two weeks before the holiday, sales of outdoor photography equipment rose more than 300% compared to the previous two weeks, according to data from e-commerce giant JD.com.
Along with the recovery of the tourism sector, the hospitality industry in the country is heating up, as the restaurant business flourished during the holidays.
Restaurant reservations during the National Day holiday via online platforms increased by 87.6% compared to the same period last year, according to data from Meituan.
The data also revealed that in addition to large meals, consumers show increased interest in snacks, beverages, sweets and other food at small restaurants during the holiday season.
Home appliance sales also rose during the week-long holiday, boosted by local government subsidies and generous discounts offered by e-commerce platforms.
According to Suning online store, on the first day of the National Day holiday, the flow of customers to physical stores increased by more than 200% compared to the previous day, and the number of orders in newly opened stores also increased. 120% compared to the previous day.
On the first day of the holiday, online sales of air purifiers, robot vacuums, dishwashers and other advanced home appliances jumped more than 100% from the day before, data showed.
China has launched a series of measures to promote a recovery in consumption, including increased spending in key fields such as automobiles, green and smart home appliances, as well as food and accommodation, among others.
“The country’s consumer market will consolidate the recovery trend and continue to play a key role in boosting the country’s economic growth as the consumption measures take effect,” said Guan Lixin, a researcher at the Chinese Academy of International Trade and Economic Cooperation. End
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