Scenic spots are crowded with tourists, streets and alleys are filled with delicious food, cultural and sports venues are gathering popularity, and digital home appliances are selling like hotcakes... During this National Day holiday, the consumer market is full of highlights. Value-added tax invoice data shows that during the National Day holiday, service consumption across the country was booming. The average daily sales revenue of related industries increased by 19.5% year-on-year. The sales growth of household appliances, digital electronics, kitchen and bathroom, etc. was relatively high.
Groups of vivid invoice data outline a vivid picture of the booming domestic consumer market. It is not only an intuitive portrayal of the continued recovery of public consumption willingness, but also a powerful confirmation of the strong resilience and potential of the ultra-large-scale market.
——Cultural tourism consumption is on the rise, and diverse scenarios are unleashing travel potential
When traveling during the long holiday, cultural tourism comes first. During the National Day holiday, the tourism consumption market continued to gain momentum, with sales revenue from tourism and entertainment services increasing by 23.6% year-on-year, of which travel agency services and amusement parks increased by 26.2% and 41.2% year-on-year respectively. Driven by tourism consumption, demand for diversified accommodation has been released, with economic chain hotels and homestay services increasing by 6.3% and 12.8% year-on-year respectively.
From traveling to famous mountains and rivers to checking in to the suburbs of cities, short-distance travel, in-depth travel and special travel are intertwined, fully activating the travel needs of different groups. The continued rise in cultural and tourism consumption is not only a growth driven by the holiday effect, but also a concentrated reflection of the continuous changes in residents’ consumption preferences and the continuous enrichment of cultural and tourism supplies.
——Catering consumption is booming, and diversified supply meets public needs
During the National Day holiday, family dinners, wedding banquets and other activities drove strong catering consumption, and catering service sales revenue increased by 9% year-on-year. Among them, the economic prosperity of specialty food streets and night markets has promoted snack services to grow by 15.5% year-on-year; fast food services have increased by 30.6% year-on-year, providing convenience for consumers to travel and dine; the rapid development of new tea drinks has driven beverage and cold drink services to more than double the year-on-year growth.
Night market snacks, chain fast food, new tea drinks, and dinner banquets all shine. The public is not only willing to stop at night markets in the streets and savor the fireworks of the world, but also prefer efficient and convenient travel meals and trendy and diversified leisure tea drinks. The catering industry is booming, driving the economic microcirculation of urban business districts and characteristic neighborhoods to accelerate.
——The integration of culture and sports improves quality and renews, and event performances activate new consumption
The two-way integration of culture and sports has given rise to new consumption scenarios and new growth points. During the National Day holiday, concerts, cultural performances, folk activities, etc. were held in many places, driving cultural and artistic service sales revenue to increase by 20.9% year-on-year. Among them, literary and artistic creation and performance services, and mass cultural and sports activities increased by 21% and 28.3% year-on-year respectively. Traffic from events such as the China Tennis Open was converted into increased consumption, driving sports service sales revenue to increase by 29.4% year-on-year.
Go to the theater to watch art performances, go to the stadium to watch exciting duels, wander around the streets and participate in folklore experiences... The cultural and sports industries are deeply integrated, cultural performances, sports events, and leisure experiences empower each other, constantly expand new consumption scenarios, and enrich residents' spiritual and cultural consumption supply.
——Commodity consumption is accelerating and upgrading, and emerging demands have opened up room for growth.
During the National Day holiday, affected by factors such as the release of some funds for trade-in subsidies for consumer goods before the holiday, the concentrated launch of new digital products, and the intensive release of household replacements during the long holiday, the sales revenue of household appliances and audio-visual equipment increased by 40.1% year-on-year, and the sales revenue of mobile phones, bracelets and other communication equipment increased by 119.8% year-on-year. At the same time, the vitality of self-pleasant consumption such as pet services, fitness and shaping, and beauty salons has stimulated, driving the sales revenue of residents' pet services, fitness and leisure activities, and hairdressing and beauty services to increase by 80.8%, 16.7%, and 37.1% respectively year-on-year.
On the one hand, the consumption of home appliances, kitchen and bathroom, and digital products has performed well, and on the other hand, the consumption of pet companionship, fitness, and beauty care has grown rapidly. From meeting basic survival needs to pursuing quality, health, and emotional value, emerging consumption tracks continue to grow and continue to expand new space for domestic demand growth.
Harbin launched a golden autumn consumption promotion activity and relied on platform subsidies to activate catering consumption; Zhengzhou launched a special tourist train to create special products suitable for seniors traveling with relatives and friends; Liaoning used the "Liaoning Premium" public brand as a starting point to open up the channel for high-quality supply and consumption upgrade... I believe that with the continuous release of a series of policy dividends, further enhancing consumption capacity, improving consumption conditions, and innovating consumption scenarios will continue to stimulate my country's domestic demand potential and promote the economy to a new direction.
