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Consumption Growth Stopped Falling And Picked Up In August, And The Demand For Cultural And Sports Tourism Recovered In An All-Round Way

2020/9/16 11:38:00 0

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Consumption data in August finally stopped falling, and offline consumption of sports and entertainment recovered significantly.

In August, the total retail sales of consumer goods totaled 3357.1 billion yuan, up 0.5% year on year, the first positive growth since this year. Among them, the retail sales of consumer goods excluding automobiles totaled 3015.8 billion yuan, down 0.6%.

Fu Linghui, a spokesman for the National Bureau of statistics, said that while the total consumption recovered in August, the trend of structural upgrading continued. Among the retail sales of social consumer goods above the quota in August, the growth of cosmetics, communication equipment, gold, silver and jewelry was more than double-digit.

Another significant feature of the consumption data in August is that offline consumption in accommodation, catering, culture, sports and entertainment shows signs of recovery. According to the data obtained by the 21st century economic report from the relevant OTA platform, the number of high star hotel bookings this summer returned to 96% last year, among which, the number of high star hotel bookings in August increased by 7% compared with the same period in 2019. In addition, the passenger flow of several domestic airports, including Guangzhou Baiyun Airport, leveled off or was close to the same period last year.

Upgrading consumption continued to grow

According to the data of the National Bureau of statistics, in August, the total retail sales of consumer goods reached 3357.1 billion yuan, up 0.5% year-on-year, and the growth rate changed from negative to positive for the first time in the year, with a month on month increase of 1.25%. From January to August, the total retail sales of consumer goods reached 23802.9 billion yuan, a year-on-year decrease of 8.6%, 1.3 percentage points lower than that of January July.

By type of consumption, catering revenue was 361.9 billion yuan, down 7.0% year-on-year. The decline of catering consumption, which was greatly affected by the epidemic situation, was further narrowed. More and more people began to go out for consumption, and the popularity of restaurants accelerated.

In addition, the sales of consumer upgrading products increased rapidly. In August, communications equipment, cosmetics, gold and silver jewelry, and automobile goods increased by 25.1%, 19.0%, 15.3% and 11.8% respectively.

Fu Linghui believes that while the total consumption has recovered, the trend of structural upgrading is continuing. The growth of cosmetics, communication equipment, gold and silver jewelry are all above double-digit, indicating that despite the impact of the epidemic, residents' yearning for a better life is still sustained.

In terms of upgrading consumption, during the Lunar New Year's Eve festival in August, major international luxury brands made a large-scale marketing in China, optimistic about the consumption power of Chinese Tanabata. According to the big data of Jingdong, the sales of home furnishing, outdoor and luxury goods increased by about 20% - 30% before the Chinese New Year's Eve, while jewelry and bags were the most popular among cross-border imported goods.

On August 23 (two days before Chinese New Year's Eve), many luxury goods counters in Beijing SKP mall lined up. Zhang Jingjing (pseudonym), a Beijing girl shopping in Sanya International duty-free city in Hainan Province, introduced that there were many people shopping in Sanya duty-free city. There were queues at the door of some brand stores of Cartier, Gucci and Estee Lauder because of the limited flow of shop staff. She spent two hours in the duty-free city and bought more than 20000 yuan of goods. In the past, she often went abroad to spend money. This year, affected by the epidemic situation, she chose to take her children to Sanya to travel and buy daily necessities.

Wei Jianguo, former Vice Minister of the Ministry of Commerce and vice president of the China Center for international economic exchanges, said that it is expected that consumption will turn positive in August, and that efforts will be made in the fourth quarter and sprint at the end of the year. There are still many tools for promoting consumption in China, which can be further implemented. For example, we should expand the scope of government procurement, create non subsidy incentive levers, reduce the institutional costs of the import link, add duty-free entry shops, and so on. We should reduce industry entry barriers and market access, and promote trade and investment liberalization and facilitation.

Comprehensive recovery of offline sports and entertainment consumption

Compared with the first half of the year, the biggest change in the consumer market in August was the recovery of offline consumption such as culture, tourism and sports.

According to the data, while online consumption grew rapidly in August, offline consumption was also recovering, residents' willingness to travel increased significantly, and business travel and summer vacation travel had strong consumption intention.

Fu Linghui said at the press conference that in late August, the national film box office had recovered to 90% in the same period of last year, and the recovery of cinema reflected the accelerating recovery of service industry under the outgoing line. From the industry point of view, the business activity index of transportation, telecommunications and other industries has been above 60.0% for four consecutive months; accommodation, catering, culture, sports and entertainment industries have shown signs of recovery, and the business activity index is higher than 57.0%; the business activity index of leasing and business service industry has risen to above 50.0%. Taking accommodation as an example, from the survey, the decrease of accommodation turnover of star hotels is narrowing.

According to the data from qunar.com, the number of summer hotel bookings on this platform has recovered to 80% of the same period last year, and the number of high star hotels has recovered to 96% last year. Among them, the number of hotel bookings in August has increased by 7% compared with the same period in 2019.

In terms of shipping, in the 62 days of summer transportation in 2020, civil aviation will carry 80 million passengers. In August, the domestic passenger volume of the industry will return to 85% of last year's, and the domestic passenger volume of qunar.com will return to the same level of the same period last year.

Take Guangzhou Baiyun Airport as an example. In August, the passenger throughput of Baiyun Airport reached 4.61 million person times, and domestic passenger flow has returned to normal level; Wuhan Tianhe Airport, which was most affected by the epidemic, handled about 64700 passengers on September 11, reaching the same level of last year's domestic routes; Shenzhen airport's domestic passenger flow recovered to over 90% in August.

Lan Xiang, President of qunar big data research institute, told 21st century economic reporter that summer vacation has become a travel peak in the true sense since the outbreak of the epidemic. Since September, the civil aviation market has further recovered. According to this growth rate, it is expected that the National Day holiday will usher in a new round of outbound travel. Qunar.com data shows that as of September 14, the number of domestic air ticket bookings for the National Day holiday has exceeded the level of the same period last year. In terms of group tour, Hainan's free travel products, including scenic spot tickets and hotels, recovered well. The sales volume of such products on qunar.com reached about 700% in the same period last year.

In terms of entertainment consumption, according to the professional edition of cat's eye box office, the box office in August reached 3.392 billion yuan, with more than 95 million people watching. From the film point of view, "eight hundred" was the box office champion in August, only 11 days after its release, the box office exceeded 2 billion yuan, and the number of people watching reached 51.95 million. At present, the box office of "eight hundred" has exceeded 2.7 billion yuan, and the residents' pent up demand for offline viewing has been released to some extent.

In terms of sports consumption, some sports events around Beijing began to recover in August, such as Chongli 168 international super cross-country race; in September and October, a number of events with more than 1000 people will be held, such as Youzhou ancient road super cross-country race. A number of sports events will be held in Guangzhou before the end of December. Among them, Guangzhou marathon will be held on September 13.

Since the Spring Festival in 2020, the domestic large-scale marathon events are basically in a state of suspension. There is no definite news of events with more than 10000 people, such as Wuhan marathon, Beijing marathon and Shanghai marathon, so far, Guangzhou marathon has become the first large-scale event to announce the date of holding. The recovery of large-scale marathon events may mean the comprehensive recovery of sports consumption.

With the suspension of overseas marathon events, domestic runners hope to take part in this year's competition in China. Shanghai's Mr. Hu signed up for the London and Boston marathons in 2020. Affected by the epidemic, his schedule for this year's race was adjusted to take part in the Gobi race in Jiuquan and the Shanghai marathon. He hoped that the Shanghai marathon could be held as scheduled.

An operator of an event company in Beijing that has hosted marathon events in several cities in China told 21st century economic news that the first race they organized this year will start on September 19. As of September, the company's business has recovered by more than half. It is estimated that this year's performance may not match that of last year, but they have not laid off staff and are confident in the future.

 

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