Oct 7, 2020|
Consumer Spending during National Holiday Indicates Strong Recovery of Tourism and Shopping Enthusiasm
by Ella Kidron and Rachel Liu
Consumption in the first four days of the eight-day Golden Week holiday (National Day) is going strong. Similar to data just prior to the holiday, JD Big Data indicates that categories most impacted by the epidemic are also the ones growing the fastest.
Tourism, sports, outdoor, home appliances, food and beverages and jewelry have been the main growth drivers. In jewelry, the once sluggish growth rate of gold jewelry consumption has returned to the average growth rate of last year’s National Day, while the growth rate of gold and silver for investment in the first half of the year has continued to slow since May, indicating less risk aversion and more enthusiasm for consumption.
Consumption also indicates a strong resumption of tourism. The number of customer orders made from popular tourist cities such as Beijing, Hangzhou, Huangshan, Lijiang, Sanya, Xiamen, Shanghai, Xi’an and Zhangjiajie (home of “Avatar Mountain”) to be sent to customers’ hometowns (“remote orders”) increased by an average of more than 100% YOY. Wuhan ranked first with an increase of 117%, while Zhangjiajie increased by 327% YOY compared with the May Day holiday period.
JD Super, JD’s online supermarket, shows that during the Golden Week consumers are buying a lot of disinfectant products to make their travels safer, as well as children-related products as they are spending more time with their kids. Data shows that sales of disinfectant wipes increased 130% YOY, and hand sanitizer increased 150% YOY. Sales of strollers and children’s bicycles increased 230% YOY, and sales of children’s car seats increased 180% YOY. In addition, sales of baby snacks increased 200% YOY. In many first-to-fourth tier cities, JD Super can now achieve 29-minute delivery.