During the 2007 May Day holiday Golden Week, promoting consumption became the focus of the market. Businesses across the country tried to find more ways of making money and to promote their products in innovative ways. Commodity consumption, sports and culture-related consumption, as well as entertainment and leisure consumption all showed good momentum.
According to the Ministry of Commerce, from May 1 to 7, the total retail volume of consumer goods reached 320 billion yuan, up by 15.5 percent over the same period last year, with the catering service rising by 17 percent.
The information issued by the Ministry of Commerce reveals five major features of the consumer goods market during the past Golden Week:
First, commodity sales increases steadily, LCD TV sets, air conditioners, jewelry, fashionable dresses sold very well. In northeast China's Heilongjiang Province, the sales of such high-end electrical appliances as high definition LCD TV sets rose by 27.6 percent. Clothing sales in Mansion Mode Times in Central China's Chongqing Municipality jumped by 127 percent year on year. Online shopping is also prospering. The sales of such online shopping centers as taobao, joyo and dangdang were 30 percent higher than on ordinary days.
Second, health and knowledge-oriented consumption was more popular.
Third, tourism packages like "happy rural family" promoted rural and urban harmony while helping to enhance rural consumption.
Fourth, traditional catering service sectors, wedding and family dinner services were very popular.
Fifth, daily necessities were supplied in large quantities, expanding the market. During the Golden Week, the market offered various kinds of daily commodities, with oil and meat prices rising slightly and vegetable prices dropping.