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June 16, 2021

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Shanghai enjoys big leap in holiday consumption

By Huang Yixuan | 00:00 UTC+8 June 16, 2021 | Print Edition

Consumption in Shanghai enjoyed vigorous growth during the Dragon Boat Festival holiday with activities promoting traditional culture.

Data from the city’s Business Development Research Center showed that 113 large commercial enterprises achieved a total operating income of 1.947 billion yuan (US$303 million) from June 12 to 14, an increase of 17.3 percent compared with last year.

As monitored by China UnionPay Merchant Services, the number of visitors from outside the city and the consumption they contributed soared by 50.5 percent and 61.45 percent, respectively, year on year.

Their offline spending accounted for 34 percent of the city’s overall offline consumption, up 7.1 percentage points from the same period in 2020.

Food companies saw a year-on-year leap of 11.3 percent, with special campaigns leading to booming sales of seasonal goods such as zongzi (wrapped steamed glutinous rice dumpling with different fillings) and salted duck egg.

Tai Kang Foods teamed up with Wu Fang Zhai to roll out new zongzi products and holiday gift boxes suited to the taste of Shanghainese, while Xing Hua Lou launched several new flavors, all selling like hot cakes.

Key catering enterprises, meanwhile, achieved double-digit growth in sales, boosted by special deals, such as discounts in afternoon tea sets, during the holiday.

Focusing on the theme of the Dragon Boat Festival, commercial enterprises engaged in activities such as parades, folk dance flash mobs and interactive activities showing archaic customs, which led to an 18.7 percent increase in consumption in the service sector, according to the city’s commission of commerce.

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