Consumption surges during New Year's Day holiday

The city’s consumption market witnessed a rapid recovery during the New Year’s Day holiday, showing consumers’ high enthusiasm for consumption, Shenzhen Special Zone Daily reported yesterday.

The city’s tourism revenue hit 822 million yuan (US$119 million) during the three-day holiday that ended Monday, according to official statistics.

Holidaymakers at Nantou Ancient Town in Nanshan District on Monday. Liu Xudong

Shopping malls across the city saw a huge surge of shoppers during the holiday.

At C Future City, a shopping mall recently put into business in Futian District, with 40% of its businesses being brands’ first shops, flagship stores and concept stores, attracted many residents for its artistic atmosphere.

At UpperHills in Futian, a vintage market opened during the holiday, attracting young people to choose Chinese ancient garments, enjoy band performances and purchase different types of souvenirs.

Nationally, data from Meituan, an on-demand service platform, showed that compared with the same period of 2019, the daily average consumption rose 75% during this year’s three-day holiday.

The consumption scales of Guangdong, Jiangsu, Beijing, Zhejiang, Shanghai and Sichuan were among the country’s highest.

Meanwhile, Shenzhen has planned to organize nearly 100 online and offline activities including five Spring Festival-themed activities to unlock people’s consumption enthusiasm in automobile, catering, e-commerce, and culture and tourism during the New Year’s Day holiday and upcoming Spring Festival and Lantern Festival holidays.

The city has started to issue subsidies worth 300 million yuan, including 100 million yuan in Bao’an and Nanshan, respectively, the city’s commerce bureau said.

Consumers who purchased cars in Bao’an District under the Program of Replacement of Used Cars can get a subsidy up to 25,000 yuan each. The policy will last until the end of this month.

The city’s 500 restaurants and 100 brands in 10 business districts will introduce reunion dinners for the Spring Festival and gatherings for the Lantern Festival by offering discounts involving 100 million yuan.

Business districts will organize various types of promotions and activities like Spring Festival shopping fairs, Lantern Festival parties, and other performances and shows.

The city will also give out subsidies to encourage residents to spend for cultural tourism activities. In addition, the city will explore new tourism routes around the themes of coastal tourism, fashion tourism, industrial tourism and night economy, and unveil five classic camping routes.

Each district will organize a festival that will be influential. Futian District will introduce a series of activities called “Happy Futian,” involving coupons totaling 20 million yuan. Luohu District will give out 20 million yuan in coupons for the 2023 New Year Community Festival activity. Bao’an District has started issuing coupons worth 60 million yuan in four rounds to boost consumption.