Expo Effect Pulls Out Consumption "Dayang Line" Catering Fast Growth

The strong Expo effect and steady economic growth have brought Shanghai's domestic consumer spending this year out of the “Great Sun Line”. The reporter learned from the Municipal Commission of Commerce yesterday that from January to November, Shanghai is expected to complete a total of 3.3 trillion yuan in merchandise sales, a year-on-year increase of over 24%, and it is expected to exceed 3.7 trillion yuan throughout the year, maintaining a momentum of double-digit growth for seven consecutive years. It is expected that the total retail sales of social consumer goods will reach 550 billion yuan, an increase of over 17% year-on-year, and it is expected to exceed 600 billion yuan in the year, exceeding the sales target for this year. The total volume of Shanghai's merchandise sales has far exceeded the total industrial output value and total export volume. The total retail sales of consumer goods have exceeded the total social fixed asset investment by nearly 90 billion yuan.

Expo licensed merchandise sales exceed 30 billion yuan

The grand scale of the World Expo not only created a huge increase in the domestic market in Shanghai, but also activated a lot of consumption. "Bringing the exciting Expo to home", nearly 18,000 kinds of World Expo licensed products have expanded the extension of the Expo, enriched the content of the Expo, and are loved by thousands of spectators. As of the end of the World Expo, the total sales volume has reached 30.712 billion yuan, far exceeding the original sales target of 20 billion yuan, setting a new record for the scale of sales of licensed merchandise for international large-scale convention and exhibition events.

Among the Expo licensed products, the outstanding sales are precious metals, plush toys with Haibao as their main image, World Expo passports, various Expo badges, souvenirs, and philatelic products. The Expo gold bar produced by Lao Fengxiang, a century-old brand, was sought after and sold for nearly RMB 500 million. The World Expo passports produced by the Dongwo Group have been popular in and out of the park for more than 11 million copies. It has been a pleasure for many audiences to hold the Expo Passport stamped in national pavilions.

Catering Accommodation Shopping Tourism Growth

The World Expo also strongly stimulated a variety of consumer demand. This year, Nanjing Road, Yuyuan Garden, Huaihai Road, Xujiahui and other business circles have become influential. Tourists at home and abroad have come to visit one after another, and all kinds of consumption are “full of plates”. During the Shanghai World Expo, food and beverage consumption in Shanghai was particularly hot. Both Chinese and foreign fast food and specialty food and beverages attracted many tourists. From January to October, the city's revenue from catering operations was 56.776 billion yuan, a year-on-year increase of 17.9%. The 133 food and beverage outlets set up in the Expo site are booming. From May to October, visitors from the park exceeded 53,931,000 person-times, and catering consumption exceeded 2.5 billion yuan.

The increase in shopping spending was significant. First-hand Yaohan, New World Mall, Yuyuan Shopping Mall, Oriental Commercial Building, and the First Department Store, etc. Shanghai merchants are all very prosperous this year. The expansion of specialty stores is also very rapid. Appliance giant Suning implemented a chain development model that combines “horizontal expansion” and “longitudinal penetration” this year. The number of Shanghai stores has reached 74, and the vast market coverage has led to a rapid growth in consumer electronics consumption.

Hotel accommodation room rate is high. Jinjiang Hotel's 18 hotels in Shanghai this year's operating income reached 1.641 billion yuan, the average room rate during the World Expo was 80.43%; economic chain hotel Jinjiang Inn Shanghai store room rates as high as 99%, an increase of 90%. The average room rate of Shanghai-star hotels reached 68.6%. The Shanghai Tourism Distribution Center receives nearly 3 million tourists this year, an increase of 50% over the previous year.

Policy to promote the upgrading of consumer quality

This year, Shanghai's consumption has not only achieved a great breakthrough, but also significantly improved its quality. The old-for-new-trade policy for home appliances strongly promoted the upgrading of Shanghai's consumption. From January to October, five categories of household appliances recovered 3.509 million units, sold 3.422 million units, retail sales amounted to RMB 12.984 billion yuan, and sold 150 million yuan to home appliances to the countryside, accounting for the entire city The retail sales of household appliances of enterprises above designated size amounted to 44.2% of 29.864 billion yuan. Since the state launched the home appliance replacement policy in August 2009, by October this year, Shanghai's five major categories of home appliance recycling and sales accounted for 15.9% of the country's total, ranking first in the number of home appliances in the nation's central cities. Shanghai boasts a leading position in the country in terms of ownership of color TVs per 100 households. The growth of automobile consumption is very fierce. At the end of October, personal auto consumption loans amounted to 12.643 billion yuan, an increase of 3.555 billion yuan over the beginning of the year. By the end of the year, the number of automobiles per capita per 100 urban households in Shanghai is expected to reach around 18 vehicles, an increase of 28.6% over the previous year.

The modern consumption mode has also contributed to the growth of consumption. 150,000 POS credit card machines have spread all over the urban and rural areas, achieving “three full coverages” of credit card spending, that is, coverage of central urban areas, suburban commercial streets, and commercial core business. From January to October, Shanghai credit card spending reached 377.26 billion yuan, a year-on-year increase of 18.2%. Excluding the declining factors of real estate credit card spending, credit card spending increased by 41.2% year-on-year. Among them, consumption of service cards was 1.77140 billion yuan, up 59.2% year-on-year; consumption of goods and catering services was 20.012 billion yuan, up 34.8% year-on-year, accounting for 53% of total credit card spending, and accounting for 40% of the total retail sales of consumer goods in the city.