The Spring Festival consumer market is full of vitality to help the economy continue to recover steadily

  The Year of the Tiger has a strong New Year's flavor, and the holiday economy is full of vitality.

This year's Spring Festival coincides with the Winter Olympics, and it has brought a boom in ice and snow consumption, making this year's Spring Festival consumer market very lively.

Data shows that in the five days before the Spring Festival holiday, the network platform processed a total of 6.236 billion cross-institution network payment transactions, with an amount of 4.20 trillion yuan, an increase of 5.30% and 11.58% year-on-year, and the consumer market during the Spring Festival holiday showed a growing trend.

This is conducive to the continuous recovery of the consumer market and the optimization and upgrading of the consumption structure, and provides strong support for the sustained and stable recovery of the national economy.

  The Spring Festival is the most solemn traditional festival of the Chinese nation.

Despite the plague of the epidemic, the Chinese New Year of the Tiger, with a strong "tiger" flavor, dressed up the Spring Festival market.

All kinds of "tiger" element Lunar New Year products have become the favorite of consumers.

Based on the tiger culture, many merchants are competing to launch products featuring tiger culture. The Chinese zodiac characters, blessing couplets, "cute tiger" pendants, cloth tiger dolls, etc. are full of the Spring Festival consumer market, adding a festive atmosphere to the festival and driving the festival market. of red fire.

According to Alibaba's "Spring Festival Consumption Trend Report for the Year of the Tiger", searches for "tiger"-related new year goods increased by 874% year-on-year, and the sales of brands with the word "tiger" increased by nearly 70% year-on-year.

  The demeanor of offline consumption has not diminished, and it is still the mainstream of consumption during the Spring Festival.

During the seven-day holiday of the Spring Festival, in addition to keeping the year old at home, it is more about going out of the house to enjoy the leisure of the holiday. Dining, shopping, shopping, etc. are essential New Year programs.

Merchants also took the opportunity to play the Spring Festival consumption card, boosting traditional business formats and opening up new ones.

In addition to the traditional gold and silver jewelry, clothing, shoes and hats, new promotion models such as first stores, online celebrity stores, and specialty stores are in the ascendant, injecting "fresh blood" into the Spring Festival consumer market and becoming a New Year consumer fashion that consumers are keen on.

  Digitalization and Spring Festival consumption are fully integrated to bring the taste of the New Year to consumers.

The rapid development of digital technology has spawned many new consumption trends, and the need for epidemic prevention has also accelerated new consumption trends.

"Home economy" and "cloud consumption" are hot words in the current consumer market, and they are a vivid portrayal of the full integration of digitalization and Spring Festival consumption.

Online shopping for New Year's goods, setting New Year's Eve dinner, online shopping for New Year's goods to send to relatives and friends, buying and selling New Year's goods globally... The digital component of consumption during the Spring Festival holiday is getting higher and higher.

Behind it is the solid development of my country's huge real economy, and the continuous recovery of specific industries such as catering, tourism and leisure, and entertainment, reflecting the optimization and upgrading of consumption structure and the continuous release of consumption potential under the support of digital technology.

  The Spring Festival and the Winter Olympics meet, making the holiday consumer market even hotter.

On the night of the opening of the Winter Olympics, more than 1 million netizens flocked to the official flagship store of Olympic Tmall. Many peripheral products of the Winter Olympics mascot Bingdundun were almost empty in seconds. Many netizens even started watching the live broadcast of the opening ceremony. Buying the same model, the sales of related clothing increased sharply month-on-month.

The Winter Olympics has boosted ice and snow consumption, and ice and snow equipment such as jackets and snowboards have become new "popular models", and major ski resorts have also moved from the original "niche" projects to "public" participation.

From New Year's Eve to the fourth day of the first lunar month, Tmall ski equipment increased by more than 180% year-on-year, and ice sports categories increased by more than 300% year-on-year; on Fliggy, orders for ice and snow tourism products during the Spring Festival increased by more than 30% year-on-year.

The Winter Olympics ignited people's enthusiasm for ice and snow sports, which not only promoted the rapid rise of ice and snow consumption, but also brought about the same frequency resonance in the catering, tourism, accommodation and other industries.

  Seize the peak consumption season of the Spring Festival, policy package to promote consumption expansion and upgrading.

As the Spring Festival is approaching, the National Development and Reform Commission issued the "Notice on Doing a Good Job in Promoting Consumption in the Near Future", proposing to take measures according to local conditions to meet the consumption needs of residents during festivals, insist on stabilizing and expanding consumption under the normalization of epidemic prevention and control, and minimize the Influence on the production and life of the masses, creating an upgraded version of online festival consumption, effectively expanding county and rural consumption, etc., involving 10 measures such as festival consumption, ice and snow consumption, tourism, cultural tourism and leisure, and corporate relief.

In addition, in some places, there are also Spring Festival coupons, consumption subsidies, digital RMB, etc., covering retail, accommodation, catering, tourism and other industries, to accelerate the integration of online and offline consumption, and promote the stable recovery of the consumer market.

  Consumption demand continued to release, supporting the stable recovery of the national economy.

In 2021, final consumption expenditure will contribute 65.4% to economic growth, driving GDP growth by 5.3 percentage points. Consumption is undoubtedly the "ballast stone" for the stable operation of my country's economy.

With the continuous efforts of the policy of expanding domestic demand and promoting consumption, the contribution of consumption to economic growth has steadily increased, becoming the main driving force for the stability of the national economy.

With the seven-day holiday of the Spring Festival and the blessing of the Winter Olympics, the consumer market is booming. While satisfying the people's growing yearning for a better life, it will further release consumption potential, make new contributions to the stable recovery of the consumer market, and normalize the epidemic prevention and control this year. A solid foundation has been laid for the stable start of the economy under these conditions.

  Zhang Deyong Researcher, Institute of Financial and Economic Strategy, Chinese Academy of Social Sciences


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