Market Dynamics: Consumption Gradually Recovers Around The Dragon Boat Festival Holiday

As the last holiday of the first half of the year, the small and Long Dragon Boat Festival holiday ended yesterday. In the case of sustained efforts to promote consumption policies in many places, consumption during the Dragon Boat Festival holiday gradually recovered.

According to the market consumption data released by many places, the passenger flow of 52 key business districts in Beijing was 8.877 million, an increase of 19.4% compared with the week before the festival. The sales volume of department stores, professional stores, e-commerce and other enterprises under key monitoring reached 4.33 billion yuan, an increase of 6.3% compared with last year's Dragon Boat Festival holiday; Driven by the 30 million yuan digital RMB red envelope and the Dragon Boat Festival temple fair promotion activities in Shenzhen, the turnover of 10 business districts participating in the activities increased by more than 8% year-on-year, and the offline consumption trend was obvious; During the Dragon Boat Festival holiday, the retail sales of Chongqing's major business districts and key monitoring trade enterprises reached 6.54 billion yuan, an increase of 4.3% year-on-year; During the Dragon Boat Festival holiday, the sales volume of key commercial circulation enterprises in Jiangsu Province was about 2.309 billion yuan, and the consumption momentum was further stimulated; Jinan province through the issuance of consumer coupons, driving the consumption of related industries 2.6867 million yuan, a direct driving effect of 3.91 times.

With the full restoration of normal production and living order in Shanghai, the consumption vitality of many business districts is gradually recovering. In Nanjing West Road business district landmark Xingye Taiguhui, more than 100 merchants have resumed business. In Jing'an Temple business district, there are more than 520 Jiuguang Department store brand merchants. Supermarkets, clothing, home furnishings and other business forms are available. Various commercial complexes have launched corresponding activities to help the consumption of Dragon Boat Festival holiday recover.

Consumption is a key link and an important engine for smooth domestic circulation. However, affected by the recent epidemic situation, the total retail sales of consumer goods in China fell to the lowest level in recent two years. In order to boost consumption and stabilize economic development, many places have issued consumption vouchers before and after the Dragon Boat Festival to promote market recovery.

In Guangzhou, with the issuance of "Yangcheng happy purchase" consumption voucher into the fourth round, many citizens took advantage of the Dragon Boat Festival holiday to come to the offline supermarket stores to buy their favorite goods. According to the person in charge of business in Tianhe City, Guangdong Province, consumer shopping categories are mainly clothing and jewelry, and the passenger flow has increased significantly year on year.

According to the data, from June 1 to June 5, the total sales of Tianhe City in Guangdong Province are expected to be 40.8 million yuan, up 310% year on year. Compared with the situation affected by the epidemic in the same period of last year, the overall sales of this year have increased greatly. Among them, the sales of three days of the Dragon Boat Festival holiday are expected to be 30.8 million yuan, up 100% year-on-year. The average daily sales are basically the same as that of this year's May Day holiday. The average daily sales from June 1 to June 5 increased by 130% month on month compared with April when the epidemic occurred.

In Shenzhen, after a number of departments jointly issued the "measures to promote the sustained recovery of consumption" on May 23, which boosted consumption by issuing consumption coupons, a new round of "Tesco Shenzhen" 500 million yuan of consumer coupons was issued from May 28 to June 20. In addition to the rich and colorful theme activities, Shenzhen's major business districts were flooded with people, Among them, the turnover of 10 major business districts increased by more than 8% over the same period of last year, and the offline consumption trend was obvious. For example, at 9:00 p.m. on June 4, Shenzhen Baoan one square city shopping center was still full of people. Some businesses said that the passenger flow was not much different from that before the epidemic, but people mainly focused on eating, leisure and entertainment, and shopping was not much.

As the situation of epidemic prevention and control in Beijing and Shanghai continues to be stable and better, entity enterprises are orderly resuming business, which makes the consumer market regain commercial pyrotechnics.

In recent years, Beijing has frequently issued various kinds of "red packets" of various policies to promote the market recovery and recovery by reducing rent and developing online channels. At the same time, the new round of green energy-saving consumption coupons issued during the Dragon Boat Festival increased from 900 yuan to 1500 yuan, and 21 kinds of commodities were used online and offline. In addition, the "Beijing consumption season online group purchase Festival" joined Wanda Plaza, Fuli Plaza, international trade mall, Chaoyang heshenghui, COFCO Xiangyun Town and other key commercial complexes to participate in the launch of online group buying Cloud retail services, such as live with goods, guide businesses to establish more direct contact with consumers.

Many clothing retail stores are responsible for saying that during the closure of shopping malls, online orders will not stop. Many shopping malls have built their own online shopping malls. In addition, the online shopping malls owned by brands account for about 30% of the total sales volume. As a matter of fact, shopping malls that have been in normal operation have also attracted many consumers to go shopping. "In order to avoid pushing, I went to the shopping mall nearby on the night of the Dragon Boat Festival and bought some clothes that I had been longing for for for a long time." Xiao Jiang, a citizen living in Tongzhou District of Beijing, said that the discount of more than 300 yuan was given to five clothes purchased in the shopping mall, which was very cost-effective. It is reported that holiday sales of Badaling Aolai, Saite Aolai, Juntai department store, new world Liying and other monitoring enterprises increased by more than 2 times compared with that before the festival. The sales of key monitoring e-commerce enterprises increased by nearly 30% year-on-year, and commodities such as sports outdoor, beauty and skin care increased by more than 100% year-on-year.

In the previous 50 policies and measures to accelerate economic recovery issued by Shanghai, it was clearly mentioned that "consumption should be promoted by festival activities", including supporting large-scale business enterprises, e-commerce platforms and other enterprises to issue consumption coupons in various ways to drive the formation of consumption hot spots. During the Dragon Boat Festival holiday, the consumption vitality of many business districts in Shanghai has gradually recovered. In Xingye Taiguhui, the landmark of Nanjing West Road Business District, more than 100 merchants have resumed business. In Jing'an Temple business district, there are more than 520 stores of Jiuguang Department store brand, including supermarkets, cosmetics, clothing and home furnishings. At the same time, pinduoduo, an e-commerce platform, distributes exclusive consumption coupons with a scale of more than 3 billion yuan to users in Shanghai, with a maximum of 510 yuan per capita. During the period from the Dragon Boat Festival holiday to the 618 national promotion program, products such as mother and baby, clothing, cosmetics and household appliances can be purchased.

Although the weather is gradually hot, camping, which has been popular since the beginning of this year, is still popular among many consumers during the Dragon Boat Festival. Beijing resident Ms. Li said, "during the Dragon Boat Festival holiday, our family's new big item is camping equipment." In response to Beijing's epidemic prevention policy, during the Dragon Boat Festival holiday, their family did not go far away, but went to a park not far away from home to camp, "so that they can not only do their own epidemic prevention and control, but also enjoy the holiday outdoors.".

Data shows that the number of camping orders in the Dragon Boat Festival has increased by more than 2.5 times compared with the May Day holiday. Among the camping consumer groups, nearly 90% of the "post-90s" young users and the "post-80s" parent-child groups account for nearly 90%. In fact, under the influence of the epidemic situation lasting for more than two years, more and more consumers have turned their attention to the outdoors. Outdoor activities based on leisure experience have become a new consumption scene. For example, outdoor camping has gradually become a "good idea" for everyone. It is one of the compulsory punch in items for many consumers during holidays, which almost occupies half of the circle of friends.

The hot camping economy has also led to the sales growth of upstream and downstream related products. For example, the growth of decathlon's camping products during the Dragon Boat Festival holiday increased nearly 10 times compared with the same period last year. All kinds of products related to family outing and camping are quite popular with everyone.

In the view of market analysis, the income of young people who are the main consumers may be affected due to the containment of the epidemic. Therefore, despite the willingness to retaliate for consumption, their consumption capacity has been reduced. In addition, the holiday time is not long, so the demand recovery of the Dragon Boat Festival holiday is mainly concentrated in the surrounding areas.

Camping reflects the public's demand for unique experience, integration with nature, and strolling children for vacation. At the same time, it has relatively high cost performance. It has advantages in many aspects such as epidemic safety, time and economy. Therefore, it continues to be welcomed by the public and occupies a very important position in the recovery cost after the epidemic.

According to the analysis of CITIC Securities, at present, the economy has shown signs of recovery. With the implementation of more relevant measures to promote consumption in the future, June will start to accelerate the recovery stage, and the super class commercial consumption of department stores will recover in stages under the package of policies such as large-scale epidemic abatement, market entity relief and consumption stimulus.

At the same time of orderly recovery and development of consumption, there are also views that enterprises should pay more attention to the role of improving the quality and upgrading of consumption, study and think about how to provide more and better consumer products for the public, enrich consumer formats, improve consumption quality, and create truly influential consumer brands.