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Lunar New Year consumption boosts Taizhou's consumer market

LMS|Updated: February 20, 2024


During the Spring Festival, Taizhou city residents enjoy visiting bustling markets. [Photo by Zhou Xinyi/]

During the 2024 Spring Festival, Taizhou city in Jiangsu province saw a robust growth in sales.

After monitoring data from the eight-day holiday, 53 key retail businesses in the city recorded a total sales volume of about 450 million yuan ($62.53 million), marking a 12.39 percent increase from the previous year.

Apart from ensuring supply, local authorities organized various consumer promotion events, including distributing automobile vouchers, hosting annual goods markets, and conducting interactive experiences like Taizhou zaocha, or early morning tea. These activities boosted market confidence and created a festive atmosphere for consumers.

Shopping districts and malls experienced a surge in foot traffic, with The Mixc leading the flock. Its average daily foot traffic during this time reached 65,000 people and its turnover reached 62 million yuan, a 24 percent increase from last year.

The city's catering and accommodation industry also thrived during this period, with hotels and restaurants reporting substantial turnover compared to the previous year.

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