Shanghai records double-digit growth in food and beverage spending

After releasing multiple measures to boost consumption, Shanghai saw steady growth in both online consumption and physical-store spending during the week-long National Day holiday, with spending in food and beverage expenditure reporting double-digit growth, according to official data.

In the first week of October, a total of 67.6 billion yuan ($9.57 billion) was spent in Shanghai both online and offline, up 3.2 percent year-on-year, data from the Consumer Market Big Data Laboratory (Shanghai) indicated.

In Shanghai's 36 major business districts, foot traffic totaled 34.49 million passenger trips, a growth of 9.8 percent from the same period of last year. Among them, 16 business districts reported more than 10 percent year-on-year growth in passenger flow.

The nation's trade-in policy on household appliances has seen positive effect, with daily sales revenue of eight categories soaring 140 percent to 54.07 million yuan from that of the pre-holiday period. In the meantime, average daily sales of home furnishing, home decoration and elderly products enjoying subsidized policies surged 228.7 percent to 23.14 million yuan in comparison with that of pre-holiday period.

Encouraged by the vouchers dispatched by the catering industry, consumers have shown strong spending willingness, and the offline dining and beverage consumption increased by double-digit to 8 billion yuan during the holiday period.