China’s Consumer Market Booming as Spring Festival Approaches
As the Spring Festival approaches, the consumer market in China is experiencing a new wave of enthusiasm, with transaction volumes increasing across various sectors. The New Year pictures, calendars, and couplets in Yiwu International Trade City are selling like hot cakes, with a 20% increase in transaction volume compared to previous years. Additionally, dragon element handicrafts are popular among merchants, New Year’s Eve flowers in Fuqing City, Fujian Province are in high demand, and catering merchants across the country have launched dine-in set meals for New Year’s Eve dinner, leading to a more than 300% increase in order volume.
The Spring Festival is one of the most important festivals in Chinese culture and serves as a traditional peak season for consumption. The streets and alleys are bustling with activity as people visit stalls, enjoy the goods, and purchase New Year’s goods, creating a rich and lively atmosphere. Additionally, the tourism market has been heated up, with “Poetry and Distance” trips becoming increasingly popular.
To further boost the holiday economy, various regions in China have introduced consumption-promoting policies. Guizhou is holding the New Year Goods Festival through online and offline linkage, while places like Jilin, Hunan, and Guangdong are distributing special consumption coupons targeting catering, cultural tourism, automobiles, and home appliances to boost residents’ consumption. Furthermore, many scenic spots in Jiangsu Province are implementing half-price or free admission policies during the Spring Festival to attract customers.
The hot consumer market is filled with people’s expectations for a better future and the pursuit of a happy life. These trends are reflecting the vigorous and vigorous start of China’s economy in the new year, signaling a promising outlook for the country’s consumer market in 2022.