Remarkable rebound in spending over New Year holiday
Shanghai's shopping malls enjoyed a surge in spending over the New Year holiday period.
The New Year holiday in Shanghai witnessed a remarkable rebound in offline and online consumption with vibrant new-year celebrations staged across various districts.
According to consumer big data monitoring, the total offline consumption from December 29 to 31 including hospitality, retail and dining spending, jumped 38.7 percent from a year ago to 25.6 billion yuan (US$3.6 billion), which was also up 11.7 percent from the same period in 2019.
Online transaction size over the three-day period also grew 7.8 percent from last year to 14.7 billion yuan.
A total of 15.48 million people visited the 35 key commercial districts, representing a significant increase of 80 percent from last year.
China UnionPay's data suggest the influx of visitors who made online and offline payments in the city was 7.05 million with total amount of spending at 6.5 billion yuan, an annual increase of 24.2 percent and 16.9 percent respectively.
Visitors from the Yangtze River Delta region of the neighboring Zhejiang and Jiangsu provinces account for a substantial proportion of tourism consumption.
The iconic Nanjing Road Pedestrian Mall attracted shoppers with various promotional activities catering for different preferences, and combined sales at major department stores and shopping malls jumped 52.6 percent from a year ago.
The 1 Yaohan Mall in Pudong, which was open to 2am on New Year's Day, attracted nearly 90,000 visitors.
The Global Harbor mall managed to attract an average of 170,000 daily visitors with singing contests, live performances, and fashion shows.
