The sales of 100 major companies in Beijing amounted to 6.57 billion yuan (about US$980 million) during the eight-day holiday that combined this year's National Day and Mid-Autumn Festival. The total sales marked a year-on-year increase of 18.6%. 

Various activities in commodity consumption and night economy were held to attract customers and meet consumer demands for high-quality products. During the holiday, 66 shopping malls in 22 major business areas saw increased customers. The sales of Wangfujing Department Store and Badaling Outlets surged 30% year on year. Commodity consumption at night in Sanlitun and Wangfujing business areas grew by 21.2% and 16.2%, respectively. Snacks, hotpot, and barbecue were the most popular foods, ranking top three of sales revenues at night. 

Beijing consumption coupons boosted the market, especially tech products. Data from JD.com shows that purchasing of tablets, floor cleaning robots, smartwatches, and smartphones jumped 274.3%, 90%, 81.4%, and 48.1% year on year, respectively. Automobile purchases increased 23.5%, according to data from China Union Pay.

The food and restaurant industry witnessed a consumption peak, and sales volumes of major companies recovered to 90% of last year. Meanwhile, the Beijing municipal government and food delivery platforms released numerous coupons, and about 70, 000 businesses provided discounts. Beijing's food delivery turnover and trade volume grew 17% and 27.4% during the holiday, respectively, according to data from food delivery platform Meituan. 

Apart from commodity consumption, service consumption became the new growth driver to boost consumption. During the holiday, cultural consumption activities were available to upgrade the consumer experience. Spending on services increased by 8.5% year on year, and consumption volume returned to 96.3% compared with that of last year.

Related

Go to Forum >>0 Comment(s)