China’s Spring Festival holiday in 2024 set the stage for a consumer boom, with spending on retail, tourism, and entertainment soaring to new heights. According to the Ministry of Commerce, the holiday kickstarted the year with ‘many bright spots’—from gold jewelry flying off shelves to blockbuster movie ticket sales. Here’s the breakdown:
Retail Revelations
Data from monitored retailers showed sales of gold and silver jewelry surged by 23.8%, while sports gear and gadgets like communication devices jumped by 15.6% and 10.4%, respectively. Even niche markets thrived: cycling and skiing equipment sales spiked over 50% on e-commerce platforms!
Entertainment & Travel Take Center Stage
Domestic tourists spent a whopping 632.69 billion yuan ($89B), up 47.3% year-on-year. Meanwhile, the box office smashed records with 8.02 billion yuan, proving that post-pandemic crowds are back for big-screen magic.
Tech-Driven Trends
Instant retail sales via e-commerce surged 32.2%, blending convenience with demand for quick deliveries. Analysts say this reflects young consumers’ appetite for seamless, digital-first experiences.
What’s Next?
The Ministry of Commerce plans to roll out more campaigns to sustain growth, predicting steady Q1 momentum. As dragon dances lit up cities like Shijiazhuang, the festive spirit—and spending—shows no signs of slowing.
NewspaperAmigo – Your Global News Buddy 
According to the Ministry of Commerce, the holiday kickstarted the year with ‘many bright spots’—from gold jewelry flying off shelves to blockbuster movie ticket sales. Here’s the breakdown:
