Shanghai witnessed a remarkable surge in consumer activity during the recent Spring Festival holiday, with official data revealing a substantial 12.8% year-on-year increase in overall spending. According to the Consumer Market Big Data Laboratory (Shanghai), total consumption across both physical and digital platforms reached an impressive 60.35 billion yuan ($8.76 billion) during the eight-day holiday period from February 15 to 22.
The breakdown shows particularly strong performance in offline commerce, which jumped 15.4% to 36.55 billion yuan, while online spending maintained solid growth at 8.9%, totaling 23.80 billion yuan. The tourism sector emerged as a standout performer, with comprehensive travel-related expenditures—encompassing accommodation, dining, transportation, entertainment, shopping, and sightseeing—soaring 20.9% to 25.61 billion yuan.
Shanghai’s popularity as a holiday destination was further evidenced by the arrival of 21.67 million visitors during the festive period, as monitored by the city’s tourism big data systems. The municipal government’s strategic initiatives played a crucial role in stimulating economic activity, with over 300 daily promotional events organized throughout the festival. Additional incentives including consumption vouchers and prize invoice programs effectively boosted consumer participation and spending enthusiasm.
The city’s commercial districts demonstrated vibrant performance, with Shanghai’s 19 major business hubs recording combined sales of 4.78 billion yuan—a 12% increase from the previous year. These areas also experienced significant foot traffic growth, with average daily visitor numbers reaching 3.19 million, representing a 15.8% year-on-year increase, indicating strong consumer confidence and robust market vitality.