Spring Festival holiday consumption market is in full "horse" power

This article is reprinted from China Women’s News

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Spring Festival holiday consumption market is in full swing

According to Xinhua News Agency Beijing, February 24 (Reporter Xie Xiyao and Wang Yuhao) — On the 24th, the Ministry of Commerce announced that during the Spring Festival holiday, local commerce departments actively organized the “Happy Shopping for the New Year” special activities. They intensified policies such as old-for-new exchanges of consumer goods and prize-winning invoices, continuously releasing holiday consumption potential.

Data from the Ministry of Commerce shows that during the 2026 Spring Festival holiday, the average daily sales of key retail and catering enterprises across the country increased by 5.7% compared to the 2025 Spring Festival holiday, with the growth rate accelerating by 1.6 percentage points. The foot traffic and revenue of 78 monitored pedestrian streets (business districts) increased by 6.7% and 7.5%, respectively, compared to last year’s holiday.

In terms of product consumption, the old-for-new exchange continues to stimulate demand. As of February 23, the old-for-new policy for consumer goods benefited 31.12 million people, driving sales of 207.03 billion yuan.

In service consumption, data from the Ministry of Commerce shows that during this Spring Festival holiday, sales of monitored catering enterprises increased by 5.2% compared to last year’s holiday; orders for car rentals on key platforms increased by 51%, with 7-day and 8-day rental orders growing by 95% and 73%, respectively; cross-regional orders increased by 251%. Snow and ice tourism saw a 12.1% increase, while cold-weather travel increased by 29.8% compared to last year’s holiday. Foreigners visiting China for the Spring Festival became a “new tradition,” with inbound tourism product orders increasing by 18.4% compared to last year’s holiday.