The May Day holiday has brought a wave of consumption boom. many places throw out “big gift bags” of consumption vouchers on the occasion of the holiday
The 21st Century Business Herald reporter combed the policies related to the issuance of consumer vouchers across the country since April. According to incomplete statistics, up to now, a total of 48 consumer voucher policies have been issued in 23 provinces and cities, including Beijing, Guangdong, Zhejiang, Jiangsu, Hubei, Yunnan, Fujian and Hainan, including 36 municipal consumer voucher policies and 12 provincial consumer voucher policies.
In order to effectively boost the consumption enthusiasm of residents, the use fields of consumption vouchers in various places are inclined to key industries such as accommodation and catering, household appliances, culture and tourism. For example, the consumption vouchers of more than 100 million yuan in Guangzhou are mainly used in the retail industry, accommodation and catering industry, automobile, household appliances, e-commerce platform and other industries greatly affected by the epidemic.
residents also showed a positive attitude towards receiving government consumption coupons, and many local consumption coupons were robbed when they went online. According to the cancellation of consumption vouchers published in some regions, the issuance of consumption vouchers has indeed played a role in leveraging consumption
From April 30 to May 1, 329000 people in Guangxi received “33 consumption Festival” consumer vouchers, directly driving sales of 31.056 million yuan, with a cumulative leverage ratio of 1:13.5, Guangxi Daily reported.
many places launch coupons and gift packs
Guangdong is undoubtedly the most active Province in this round of consumer voucher issuance up to now, 15 cities in Guangdong, including Guangzhou, Shenzhen, Dongguan, Zhaoqing, Qingyuan, Zhanjiang, Huizhou, Shantou, Maoming and Yangjiang, have issued consumption vouchers to citizens, and the number of issuing cities is much higher than that of other provinces.
In terms of amount, Guangdong is also a rare “big hand” in China. For example Guangzhou issued consumption coupons exceeding 100 million yuan , and launched consumption gift packs totaling more than 2 billion yuan during the May Day holiday; Since April 28, Shenzhen will successively issue 400 million yuan shopping coupons, 60 million yuan catering coupons, 10 million yuan sports tourism coupons and 30 million yuan digital RMB red envelopes to citizens in Shenzhen through meituan and JD platforms.
In addition to Guangdong, Beijing, Fujian, Zhejiang, Yunnan, Hainan, Liaoning and other provinces and cities have issued consumption coupons with an amount of more than 100 million yuan. Overall, the issuance of this round of consumer vouchers is stronger than before.
Zhao Ping, vice president of the Research Institute of the China Council for the promotion of international trade, said in an interview with the 21st Century Business Herald reporter that the vigorous issuance of consumption vouchers across the country is mainly due to the great growth challenges faced by the consumption situation in the first quarter, the triple pressure of supply shock, demand contraction and expected weakening in the consumer market, the slowdown of consumption growth and the negative growth of monthly consumption. Under such circumstances, the issuance of consumption vouchers, It can pry residents’ consumption will and turn consumers’ original consumption demand into real purchasing power, which is an important way to promote the rapid recovery of consumption in the short term.
In terms of the use field of consumption vouchers, this round of consumption vouchers mainly involves the retail industry, accommodation and catering industry, automobile, household appliances and other industries greatly affected by the epidemic, covering hotels, scenic spots, entertainment places, film theaters, fitness places, board games, Internet cafes, foot baths and other places of use popular during the May Day holiday.
Some regions have launched consumption voucher policies in combination with their own needs. For example, Beijing online platform has issued green and energy-saving consumption vouchers in six phases, with a total amount of more than 300 million yuan, which are applicable to 20 categories of goods, including laptops, air purifiers, dishwashers, televisions, air conditioners, refrigerators, washing machines, water heaters, etc. The use of consumer vouchers in Hainan, Hubei and other places mainly focuses on the cultural and tourism industry.
Bailing out enterprises is also an important purpose of issuing consumption vouchers everywhere. Among the 200 million yuan consumption coupons issued in Dongguan this round, 48 million yuan will be used to support the stable growth of key enterprises, focusing on the retail, catering and accommodation industries. Among them, for the upper limit wholesale enterprises with sales (including tax) of 300 million yuan or more in 2022 and a year-on-year increase of 8% or more, support the new sales exceeding 8%. If the sales volume of an enterprise exceeds 10 million yuan, it will support 10000 yuan, and the total support of each enterprise will not exceed 1 million yuan.
Zhao Ping said that at present, most enterprises are facing the problem of slowdown or even decline in the growth of sales scale. The business activity index of many industries, especially the service industry, has fallen to the contraction range. By issuing consumption vouchers and encouraging consumers’ purchase behavior, enterprises can improve their sales model and increase their operating income, which is an effective way to help enterprises transfuse blood.
how can coupons boost consumption
All localities vigorously issued consumption vouchers, and consumers also showed a positive attitude. Many people set the alarm clock and squatted and robbed on the app.
Zhang Fan (a pseudonym), who lives in Shantou, grabbed a consumption voucher of “over 100 minus 20” issued by Shantou through cloud flash app on April 30. Zhang Fan introduced to the 21st Century Business Herald reporter that the consumption voucher will be online at 10 a.m. and can only be grabbed by squatting. “After grabbing the ticket, I immediately went to the nearby supermarket to buy daily necessities. For consumers, this way has directly brought benefits and benefits to the citizens.”
Huang Dan (pseudonym), located in Shenzhen, opened meituan app for the first time after receiving the news of issuing consumption coupons from his friends, but failed to grab this round of consumption coupons in the end. According to the data provided by the takeout platform, the food consumption vouchers issued by Shenzhen were sold out in only 3 seconds; The consumption coupons of hotels, tickets and other categories are robbed within 15 seconds, and the consumption coupons of all categories above 50 yuan are robbed in 20 seconds. As of 12:30 p.m. on April 28, 480000 consumption vouchers in the first round of Shenzhen have been received, and more than 3000 consumption vouchers such as catering and takeout have been written off.
From the perspective of some cities that have announced the cancellation of consumer vouchers this year, consumer vouchers have a significant boost to industries greatly affected by the epidemic. For example, the household appliance industry facing the pressure of declining sales scale is greatly stimulated by consumer vouchers. As of May 1, the overall sales of Suning.Com Co.Ltd(002024) stores in Ningbo, Zhejiang Province during the “May Day” period had increased by 35% year-on-year, the average price of customer orders had increased by 28% year-on-year, and the utilization rate of consumer vouchers for TV, refrigerator, washing machine and communication products had reached 65%. At present, Beijing consumers have received 124800 green energy-saving coupons through Suning.Com Co.Ltd(002024) to boost the sales of household appliances by 35 million yuan.
at the same time, the issuance of consumption vouchers has played a leverage role in leveraging consumption according to the data of Dongguan culture, radio, television, tourism and Sports Bureau, in 2022, the consumption of Dongguan cultural, tourism and sports coupons has been written off by 4.35 million yuan, with a write off rate of 87%, the total related consumption is about 12 million yuan, and the direct consumption leverage is 2.75 times.
Zhao Ping said that compared with the direct payment of cash, consumption vouchers have a stronger prying effect on consumption because the consumption voucher is a subsidy, it can only be subsidized when purchasing, and additional cash expenditure is required when using the consumption voucher, which will produce leverage effect
How can we maximize the utility of consumer vouchers?
Zhao Ping believes that all localities can adopt the classified management of consumption vouchers to meet the consumption needs of different income groups, and can also issue them to industries and fields with different degrees of impact of the epidemic, highlighting the characteristics of consumption vouchers to help enterprises rescue and help enterprises tide over difficulties.
