Spring Festival consumption in the Yangtze River Delta

During the Spring Festival of the year of the tiger, “returning home for the new year” and “local travel” go hand in hand. The metropolitan area centered on Shanghai, Nanjing and Hangzhou is not only the most popular destination, but also the starting point for tourists.

Local tourism and ice and snow tourism are the most popular

According to the monitoring of Shanghai Tourism big data, Shanghai received 10.9836 million tourists during the Spring Festival holiday, realizing a tourism revenue of 17.721 billion yuan.

During the festival, the “Hotel Spring Festival tide” dominated by local consumers rose. According to statistics, the average room rental rate of guest hotels in Shanghai during the Spring Festival holiday reached 40%, an increase of 5 percentage points year-on-year.

The city’s key business districts, shopping centers and characteristic fairs create a special spring festival atmosphere in Shanghai to attract citizens and tourists to celebrate the new year on the spot. The first “Shanghai New Year Festival”, Sinan welcome season, “new elephant Shanghai Xujiahui Commercial Co.Ltd(002561) “, Changfeng ice and snow Carnival 3.0, Hongkou wonderful night theme activities, Shanghai Magnolia International Ice and Snow Festival and other “gourmet shopping + cultural tourism experience” series activities, as well as the Portuguese fragrant flower market, tent market and Gaoling market in Shanghai World Expo Cultural Park, have attracted the attention of new consumer groups.

According to the big data of same journey travel, the travel passenger flow is relatively concentrated before and after the holidays, especially some long-term travel demand has been released intensively before the Spring Festival, which makes the travel consumption during the whole Spring Festival more concentrated on the surrounding short distance, and the long-term travel returns to a high level until the fifth and sixth day of the lunar new year.

According to the specific data, the overall return passenger flow before the festival increased by more than 40% compared with the same period of the Spring Festival last year. Among them, the air ticket reservation increased by 23%, the train ticket reservation increased by 41%, and the bus ticket reservation increased by 195%.

At the same time, the hot spots of long-distance travel before the festival are mainly concentrated among several core urban agglomerations such as Beijing Tianjin Hebei, Yangtze River Delta, Pearl River Delta and Chengdu Chongqing urban agglomeration.

During the Spring Festival this year, the reverse visitor flow superimposed the local travel demand, and the local hotel reservation accounted for as much as 46%. “Residential hotel” has become a new choice for urban people to receive family members who visit their relatives reversely and for urban residents to enjoy the atmosphere of new year’s day. Among them, ski, hot spring and other themed resort hotels are most popular with tourists, followed by seaside resort hotels with good scenery and vision. The report shows that Shanghai and Suzhou in the Yangtze River Delta are popular hotel reservation cities.

When the spring festival meets the Beijing Winter Olympics, ice and snow projects are popular. The same trip shows that during the Spring Festival, the orders of ice and snow scenic spots across the country increased by 68% compared with the same period last year. Among them, Zhejiang Hangzhou Daming Mountain Ski Resort has entered the popular ice and snow tourist attraction during the National Spring Festival.

“There are three main highlights in the cultural tourism market this year.” Pan Helin, member of the information and communication economy expert committee of the Ministry of industry and information technology and executive director of the Digital Economy Research Institute of Zhongnan University of economics and law, told the reporter of the international finance news that first, local consumption is hot during the Spring Festival, such as restaurants, movies and entertainment places. Shops that do not close during the Spring Festival are booming. Second, ice and snow tourism has become a hot spot. Taking the Winter Olympic Games as an opportunity, it has become a new consumption explosion point. Three, quality consumption has become the mainstream, Wuxi Online Offline Communication Information Technology Co.Ltd(300959) sales of high-end Baijiu and high-end gifts are hot.

Pan Helin said that due to the influence of epidemic factors, local tourism and online tourism have increased this year. Compared with the past, intangible cultural heritage may be more popular, such as more travel methods that turn to experience value, especially after digital technology, the deep integration with cultural tourism industry, especially the combination of AI and VI technology, and the hot meta universe, It is positive for online tourism.

“Online new cultural tourism” promotes new consumption

During the seven days of the Spring Festival (from January 30 to February 5), the offline consumption payment in Shanghai was 37.1 billion yuan, an increase of 28.6% over the same period of the 2019 lunar calendar before the epidemic.

This year, Shanghai’s offline consumption showed a recovery trend of “first low and then high”. On the 4th and 5th, the city’s offline consumption payment increased by 14.6% and 19.0% respectively compared with the same period of the lunar calendar in 2021. Jinjiang Group, Shanghai Airlines tourism group and 81 enterprises of spring and autumn tourism Shanghai have launched 205 kinds of family reunion meals, new year’s Eve dinner packages or special items to meet the demand for delicious food.

During the Spring Festival, the offline consumption payment amount of Shanghai catering industry was 3.92 billion yuan, an increase of 8.7% year-on-year in 2021 and 9.7% year-on-year in 2019. The consumption of cosmetics, shoes and hats, grain, oil and food increased by 1.9 times, 1.3 times and 0.7 times respectively year-on-year in 2021, and 2.2 times, 3.5 times and 2.6 times respectively year-on-year in 2019.

The five new towns are popular with consumers. The sales growth of Qingpu and Songda enterprises reached more than 2 million figures year-on-year. The spillover effect of China’s entry into the Expo has further emerged. Nanjing road pedestrian street market, holiday sales 7 days sales increased by more than 60% before the holiday.

During the Spring Festival holiday, new online platforms and new digital media in Shanghai have opened the topic of New Year activities one after another. According to statistics, Ctrip, jitter, American League, Tencent, tiktok, urban tourism card and other online new language travel enterprises launched all kinds of cloud over the year, topics, pages cumulative exposure of nearly 600 million people, over the year activities, topics browse, video playback volume of 210 million, live interactive watch nearly 4 million people.

According to pan Helin’s analysis, consumption upgrading is still the mainstream in the consumer market this Spring Festival. With the increase of income, high-quality consumption is becoming more and more popular, and the frequency is also increasing at the same time. In addition, the trend of consumption diversity continues, which is no longer limited to commodities and catering. The emerging consumption mode integrating science, technology and entertainment has become the mainstream, such as blind box, secret room escape and so on.

In addition, the year of the tiger also brings “tiger element” products to continue selling well. On Taobao tmall platform, the trading volume of products such as year of the tiger clothes, year of the tiger bags and tiger hats increased significantly, and the search volume of annual goods related to “tiger” increased by 874% year-on-year. Some brands with the word “tiger” in their names are also popular.

Jiangsu consumer market is heating up. According to the monitoring and preliminary statistics of Jiangsu business system on key commercial circulation enterprises, during the Spring Festival Golden Week (January 31 to February 6), the cumulative sales volume was about 13.75 billion yuan, an increase of 8.5% year-on-year and 23% compared with 2019.

In addition, during the small and long holidays, Jiangsu business system, together with the head e-commerce platform, increased the promotion of profit sharing by issuing shopping vouchers, time limited subsidies, full reduction, discounts and other ways.

“To stimulate consumption vitality and guide users’ consumption demand through consumption vouchers is also a major means of business promotion.” Pan Helin further said that at the same time, we should expand consumers’ consumption capacity by increasing income, such as promoting tax cuts and fees. Optimize the consumer market environment and consumer experience.

“Eat” in Jiangsu, every holiday, Jiangsu’s catering industry will not disappoint people. According to the preliminary statistics of Jiangsu catering industry association, more than 70% of catering service units above the quota in the province opened the door to welcome guests, and the sales of catering industry exceeded 10 billion yuan, an increase of about 10% year-on-year compared with 2021.

“In order to win the battle of new year’s Eve dinner, we renovated several boxes on the second floor this year, and the cost increased by about 5% to 8% compared with last year.” Wu Haijun, general manager of Xiayuan old goose bone Wang in Changzhou, Jiangsu, told the reporter of the international finance news.

New year’s Eve dinner in restaurants has made many catering bosses make a lot of money during the new year. This year, the epidemic has gradually improved. Wu Haijun told reporters that new year’s Eve dinner basically began to accept reservations two months in advance, and it is basically difficult to find a table before the Lantern Festival.

“The turnover on New Year’s Eve this year is three times as much as usual, and the full payment is made in advance. Compared with last year, the turnover this year is estimated to increase by about twice.” Wu Haijun said that he was quite satisfied with the dining rate this year, and his previous concerns about the impact of the epidemic on business were dispelled.

Look at Zhejiang Province. During the Spring Festival, nearly 2 billion yuan of consumer bonds and new year red envelopes were issued, effectively stimulating residents’ consumption enthusiasm. During this period, 115 supermarkets monitored in Zhejiang achieved a total sales of 115.12505 million yuan; The offline stores of 1404 brand catering enterprises have accumulated a total passenger flow of 2244600 person times and achieved a turnover of 247717200 yuan.

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