China’s Lunar New Year Retail, Catering Sales Jump Nearly 29% Amid Travel Curbs(Yicai Global) Feb. 18 -- Big Chinese retail and catering companies reported expanding sales over the seven-day Spring Festival holiday with some of the bestselling categories being jewelry, clothing, and home appliances.
Sales reached CNY821 billion (USD127.2 billion) from Feb. 11 to Feb. 17, rising almost 29 percent from a year ago, and up nearly 5 percent from 2019, the commerce ministry announced yesterday.
China's consumer market is full of vitality amid epidemic prevention and control while celebrating the festival locally, the ministry added.
The government had recommended people to avoid traveling to their hometowns during the holiday in order to stay safe amid some clusters of new cases across China. But that may have promoted some additional gifting and staycation pampering.
Jewelry sales almost tripled, clothing sales more than doubled while other increasingly popular categories were communication equipment and home appliances. Fitness equipment sales on some e-commerce platforms jumped by 49 percent, the ministry added.
As usual, people celebrated the annual festival by gathering for a good meal. Restaurant sales rose by almost a third from a year ago and some takeout platforms recorded a more than twofold revenue hike, according to payment platforms. On New Year's Eve, takeout orders on some platforms jumped by 70 percent from a year ago.
Short road trips and local tours became popular. Many parks, scenic spots and museums welcomed significant crowds of visitors. Meanwhile, an increasing number of people chose to watch a movie. Box office exceeded CNY7.8 billion (USD1.2 billion) over the seven-day period, the highest ever during the annual holiday, as the movie industry recovers from the wide shutdowns during the Covid-19 pandemic last year.
Editor: Emmi Laine, Xiao Yi