Chongqing- Retail performance among the main business districts and commercial enterprises in Chongqing achieved a year-on-year increase of 9.3%, reaching a total of 29.95 billion yuan (approx. 4.71 billion U.S. Dollars) during the Spring Festival, according to the Chongqing Municipal Commission of Commerce.

Spring Festival, also known as Chinese New Year or Lunar New Year, is the grandest festival in China, with a 7-day long holiday. Chinese consumption has shown its unabated vitality while the Year of the Tiger was ushered in, although many activities such as travel have been discouraged due to the epidemic prevention and control.

Strong preparation in advance

The booming increase of retail performance is attributed to a strong preparation before the Spring Festival, where coordination and guidance were provided in support of agricultural wholesale, farmers' markets, shopping malls, supermarkets, fresh product e-commerce, and logistics distribution in order to meet consumer demand over the seven-day holiday period.

Additionally, major commercial enterprises responded actively to changes in market demand as they broadened supply channels, enriched the variety of commodities, and ensured the supply of daily necessities, including grain, oil, meat, poultry, eggs, milk, fish, vegetables, and fruit.

Prices, on the whole, remained stable over the festive period, with slight increases for rice (0.82%) and vegetables (3.28%) recorded, while decreases were seen for rapeseed oil (0.54%) and pork (0.64%).

Festive atmosphere drives consumption

As the peak season for consumption approached, major commercial districts, shopping malls, supermarkets, brand chain stores, and distribution enterprises stocked plentiful supplies of goods while creating a festive atmosphere for shopping.

For example, Maoye Department Store launched a new year goods festival, while large supermarkets like Yonghui, Walmart, and Chongbai organized promotional activities in celebration of the Year of the Tiger, as they launched special gift packages for commodities such as Chengkou bacon, nuts, and cooking oil.

As a result, the Chongbai and Yonghui supermarkets saw respective increases of 5.5% and 4.5% in their year-on-year sales volumes during the Spring Festival.

The Jiulong New Commercial District and the mall complexes of Mixc and Paradise Walk held shopping events themed on international fashion, Spring Festival consumption, fun discounts, and New Year markets, which played an important role in the main commercial districts of Chongqing Urban Area achieving a year on year increase of 7.9% in retail sales.

Catering and tourist sectors perform brisk business

The catering sector innovated business models to seize the opportunities presented by holiday consumption. Many varieties of restaurants, including traditional Chinese hotpot and fast food remained open throughout the Spring Festival and also provided takeout services so that all kinds of delicacies were available to consumers without having to leave the city.

Major scenic spots controlled the orderly flow of visitors according to volume and time slots, as districts and counties across the municipality played the leisure tourism card well to attract consumers from within and outside Chongqing.

For example, in rural tourism, the turnover of guesthouses based in the districts of Banan, Fengdu, and Beibei increased respectively by 30%, 27.9%, and 6.9% year-on-year. Thanks to creative activities such as 'Year of the Tiger' banquets, night-time flea markets, bonfire parties, and wishing lanterns that enjoyed wide appeal among citizens.

Furthermore, public displays including the Changjiahui New Year Art Lantern Festival on Nanbin Road, the Intangible Cultural Heritage Art Exhibition of Ciqikou Old Town, the Happy Valley Spring Festival Meeting, and the Fairy Mountain Spring Snow Festival also succeeded in attracting hordes of fun-seeking tourists during the holiday.