SMM2, 12 March: today is the eighth day of the Spring Festival short holiday, and everyone has started one after another. SMM wishes you all the best in the year of the Pig.
The above picture comes from Guoxin macro and fixed revenue team.
It is worth mentioning that this consumption figure is the first time this year to break the trillion. In this regard, Zhao Ping, director of the International Research Department of the Research Institute of the China Council for the Promotion of International Trade, said that Spring Festival consumption is a bellwether of the current consumption trend. The reason for the single-digit growth in retail and catering consumption during the Spring Festival is similar to the reason why the zero growth rate of social consumption across the country has slipped into the single digits. On the one hand, the upgrading of consumption needs a process in which the growth rate of the traditional consumption sector is slowing, on the other hand, due to the slowdown in economic growth, people's consumer spending is still in a cautiously optimistic state.
In addition, according to the comprehensive calculation of the China Tourism Research Institute, during the long holiday period, the total number of tourists received in the country was 415 million, an increase of 7.6 percent over the same period last year, and the tourism revenue was 513.9 billion, an increase of 8.2 percent over the same period last year. The growth rates for the 2018 Spring Festival were 12.1% and 12.6%, respectively. In terms of passenger transport, a total of 421 million passengers were sent during the Spring Festival holiday, up 0.35 percent from a year earlier and 2.7 percent faster than last year, according to the National Development and Reform Commission.
Zhao Ping said: on the one hand, China's tourism industry has shown explosive development in the past few years, and now it is in a state of rational decline. On the other hand, there are many uncertain factors in 2019, such as trade friction between China and the United States, geopolitical risks, rising factor costs and so on, which lead to consumers to be cautious about flexible consumption.
In terms of box office, the total national box office revenue during the Spring Festival holiday was 5.84 billion, an increase of 1.2 percent over last year, a record high for the same period, but significantly lower than the 67 percent increase at the box office in 2018. The number of people watching the film was 130 million, down 9.7 percent from the same period last year. It rose 59% in the same period last year, and the average ticket price for the Spring Festival this year was 45.1 yuan, up 15% from the same period last year.
To sum up, from the Spring Festival Golden week consumption situation, 2019 consumer market is likely to continue the 2018 consumption trend. Wang Bin, deputy director of the Marketing Operations Department of the Ministry of Commerce, said at the "2018 press conference on business work and operation" on the 12th that on the whole, China has a broad market and 400 million middle-income groups, with good consumption growth and strong resilience. Although consumption growth is likely to slow further in 2019, the scale will maintain steady and rapid growth.
