Image credit: JS News
Consumption is hot making up for the Spring Festival of 2020
(SOURCE: JS News, May 2020)
Consumption recovery in Wuxi during Labour Day Holiday thanks to various promotion events in retail shops and government support has resulted in serious consumer spending.
According to statistics from the Municipal Bureau of Commerce, during the holiday, Wuxi’s catering sector has recovered to 80% of the pre-COVID-19 figures. The market demand is mainly for family dinners and small banquets. With the return of small and medium-sized banquets, the market situation of hotels in the urban area has improved significantly. Most hotels have tight banquet schedules and a significant increase in turnover. According to statistics, the number of banquet tables at Days Hotel Wuxi Baile, Crowne Plaza Wuxi City Centre and Wuxi Luneng Marriott & Courtyard Hotel increased by more than 40% year-on-year in the three days before the small holiday. Wedding ceremonies also tend to operate a lot during this holiday.
This holiday, people staying at home increased, resulting in the rise of food ingredient sales and the demand for the development of the online economy of home “cloud shopping”.
The sales of aquatic products showed a sharp rebound after a long period of pressure. Especially on May 1st, the sales of fish, shrimp and seafood in Sunan Aquatic City reached 265.5 tons, an increase of nearly 30% year-on-year.