Spring Festival consumption demonstrates new vitality

Original Title: New Vitality in Spring Festival Consumption

Golden horses hold their heads high, welcoming good fortune in the New Year. This year’s Spring Festival consumer market experienced strong purchasing and sales, continuing to heat up. From buying New Year goods to family reunions at home, from cultural tourism travel to smart upgrades, from urban commercial districts to rural markets, vibrant scenes of consumption carry the happiness of family reunions and outline a new picture of quality improvement and upgrading in China’s consumer market.

Targeted policy efforts bring warmth to the consumer market. The first batch of 62.5 billion yuan in consumer goods renewal funds has been allocated to various regions, with increased subsidies during the Spring Festival; regions have coordinated 2.05 billion yuan through consumption vouchers, subsidies, red envelopes, and other forms directly reaching consumers; prize-winning invoices will have a total bonus exceeding 1 billion yuan, with participation possible for invoices over 100 yuan. Before and after the festival, about 30,000 cultural and tourism activities with distinct features will be launched. Real cash directly reaching consumers ensures that policy dividends are effectively transformed into livelihood benefits and market vitality.

Supply quality and upgrades, new highlights in consumption emerge. This Spring Festival, consumption is no longer just about simple “buying,” but a comprehensive bloom of quality, personalized, and experiential consumption. Green energy-saving products are popular, smart home appliances and health products have become the “new standard” for New Year goods, and upgrading through renewal drives improvements in living quality. The opening of markets continues to expand, with the geographical boundaries of Spring Festival consumption constantly broadening. “Global shopping” and “global travel” are becoming more common choices for families. The cultural tourism market remains hot, with reverse tourism, rural leisure, ice and snow outdoor activities, folk performances, and creative trendy markets highly favored. Domestic trendy products, cultural and creative goods, exported quality products, and specialty agricultural products are widely sought after. People enjoy scenic landscapes while traveling and inherit cultural roots through experiences.

Scene innovation and integration, new ways of consumption light up the festive atmosphere. Deep integration of digital technology with the real economy makes online New Year goods festivals, live streaming sales, and instant retail more convenient and efficient, with artificial intelligence (AI) becoming a considerate “travel companion.” Cross-sector linkage among cultural tourism, commerce, sports, health, and transportation ignites consumer enthusiasm through “ticket stub economy.” Urban commercial districts are being upgraded, with bustling New Year markets and rural specialty markets flourishing, accelerating the release of urban and rural consumption potential. Booking wellness services, making handmade souvenirs with family, shopping for pet New Year goods and taking photos… paying for “experiences” and “self-enjoyment” consumption are becoming prominent trends. In China’s vast market, even subtle emotional appeals can resonate, form circles, and generate new consumption formats.

This year’s Spring Festival holiday lasts nine days, dubbed the “longest Spring Festival holiday in history,” making “segmented celebrations” more popular. This not only reflects the time dividends brought by optimized long holiday policies but also vividly demonstrates improvements in residents’ quality of life and increasingly mature consumption concepts. People are no longer rushing but can leisurely arrange their plans based on needs for reunion, travel, and leisure. From bulk shopping to scenario-based purchasing, from group travel to off-peak travel, from superficial sightseeing to in-depth experiences, consumption choices are more rational, and experiences more fulfilling. During this holiday, quality consumption such as long-distance travel, in-depth tours, and customized trips continues to rise, with domestic travel, nearby trips, and city micro-vacations remaining popular. New choices and new forms of holiday consumption not only enhance festive happiness but also expand new space for the sustained and healthy development of the consumer market.

Confidence seen through the glow of fireworks. Spring Festival has always been an important window to observe China’s consumption. Over 1.4 billion people participate in this annual ceremony of reunion and hope. Every individual’s consumption choices not only define their own festive atmosphere but also jointly shape the future of China’s super-large market. We have reason to believe that a market capable of deeply understanding and efficiently responding to people’s aspirations for a better life, and an economy that continuously transforms pressure into upgrading momentum, will surely write a story full of “remarkable achievements.”