Average daily sales revenue in China's services sector jumped 19.5 percent year-on-year during the National Day holiday, spurred by robust sales of consumer goods like home appliances and electronics, value-added tax invoice data released by the State Taxation Administration showed.
The allocation of the fourth batch of 62.5 billion yuan ($9.34 billion) in ultra-long-term special treasury bonds to support the consumer goods trade-in program just before the holiday significantly buoyed consumer sentiment. In Tianjin, various discounts with subsidies up to 500 yuan for digital products such as smartphones and tablets — and up to 1,500 yuan for white goods and other home appliances — attracted numerous shoppers to stores to experience and purchase new items.
Driven by these subsidies, the launch of new digital products — and concentrated holiday demand, sales revenue of home appliances and audiovisual equipment — surged 40.1 percent year-on-year. Specifically, durable home appliances like refrigerators and washing machines jumped 40.6 percent, while televisions and other audiovisual equipment rose 36.6 percent. Communication devices, including mobile phones and smart bands, saw a 119.8 percent surge, while kitchen and bathroom accessories grew 52.3 percent.
Major retailers reported corresponding trends. Suning.com saw a 50 percent year-on-year increase in foot traffic at its core stores, with artificial intelligence smart appliance sales growing over 40 percent and accounting for over 70 percent of total sales for the first time. JD Mall data also showed that smart and green appliances were top choices for consumers, with smart appliances making up 60 percent of its initial holiday sales value.
"From early concept adoption to widespread use, AI products are accelerating to become the main driver of industry upgrades by addressing real-life needs and deeply integrating into daily home life," said Ni Zhihua, general manager of the direct-sale store sales management center at Suning.com.
The tourism and entertainment markets also saw strong momentum, with sales revenue for sightseeing and entertainment services rising 23.6 percent year-on-year. Travel agency and amusement park revenue jumped 26.2 percent and 41.2 percent, respectively.
Notably, smaller cities emerged as major attractions. According to data from travel platform Qunar, as of Oct 4, the top 10 most popular scenic spots were all located in smaller cities. The influx of travelers drove diverse accommodation demands, boosting economy chain hotel booking revenue by 6.3 percent and homestays by 12.8 percent.
Meanwhile, a diverse supply of new cultural and sports experiences effectively stimulated the consumer market. Concerts, cultural performances and folk activities fueled a 20.9 percent increase in cultural and artistic services. Major sporting events — such as the China Open tennis tournament in Beijing — translated event attendance into increased consumer spending, driving sports services up by 29.4 percent.
Dining consumption remained robust, driven by family gatherings and wedding banquets, with catering sales revenue up 9 percent. Snack services grew 15.5 percent thanks to bustling food streets and night markets, while fast-food sales surged 30.6 percent. The rapid expansion of specialty tea beverages propelled beverage and cold drink sales to surge over 200 percent year-on-year.
Additionally, spending on personal well-being and lifestyle emerged as a new growth driver over the holiday. Sales revenue for pet services soared 80.8 percent, haircuts and beauty services increased 37.1 percent, and fitness and leisure activities grew 16.7 percent.
Editor：Zhou Jinmiao
