New trends such as quality, youthfulness, and township leadership are obvious in the big data of Spring Festival consumption upgrading.

　　Topic:During the Golden Week of the Spring Festival this year, the sales of retail and catering enterprises nationwide exceeded one trillion yuan for the first time. E-commerce big data shows that the Spring Festival consumer market is in the process from quantitative change to qualitative change, and consumers’ choices are more diversified and qualitative. The growth rate of consumption in 4-6 tier cities is leading, and the core consumers are younger.

　　The Spring Festival is the most important traditional festival in China, and shopping is naturally the highlight during the Spring Festival. According to the data released by the Ministry of Commerce, during the Golden Week of the Spring Festival in 2019 (February 4 to 10), the national retail and catering enterprises achieved sales of about 1,005 billion yuan, an increase of 8.5% over last year’s Golden Week of the Spring Festival. At the same time of the steady and rapid growth of consumption during the Spring Festival, new highlights are also highlighted: commodity consumption pays more attention to quality; Food and beverage consumption is more year-round; Experience consumption such as traveling and watching movies is more popular. Emerging consumption highlights such as online consumption, customized consumption, experience consumption and smart consumption are numerous.

　　With the development of e-commerce platform and the increasing variety of goods, consumers are more and more accustomed to online shopping for new year’s goods and gifts during the Spring Festival. According to big data from JD.COM, the amount of orders placed during the Spring Festival holiday (from New Year’s Eve to the sixth day) increased by over 60% compared with the same period of last year, leading the retail market. The consumption during the Spring Festival reflects the consumption trend of China’s consumer market, such as the diversification and quality of consumers’ choices, the leading growth rate of consumption in cities in line 4-6, and the younger core consumers.

　　The wave of quality consumption leads the consumption upgrade

　　The report of the 19th National Congress of the Communist Party of China pointed out that Socialism with Chinese characteristics has entered a new era, and the main contradiction in our society has been transformed into the contradiction between the people’s growing need for a better life and the unbalanced development. In recent years, consumers’ pursuit of high-quality and beautiful life has been continuously improved. The e-commerce platform represented by JD.COM provides a wealth of goods and convenient services that don’t close, ensuring that consumers can enjoy convenient and fast shopping experience during the holiday season, and making Spring Festival consumption more fresh and quality.

　　During the Spring Festival, the top five categories of JD.COM platform sales are: mobile phone communication, computer office, household appliances, clothing, shoes and boots, and home furniture and home improvement. The top five sales categories are: local life/travel, maternal and child toys, food and beverage, beauty care, clothing and shoes.

　　JD.COM platform sales data shows the new bright spot of Spring Festival consumption: quality consumption is very obvious. According to big data from JD.COM, during the Spring Festival, the categories with the highest customer unit price were watches, mobile phones, jewelry, computer office and clothing shoes and boots. Compared with the same period of last year, the categories with the most obvious increase in customer unit price were kitchen utensils, local life/travel, gift bags, home furniture and home improvement, and clothing shoes and boots. It is worth noting that among these categories, consumers prefer to buy higher-end brands among similar products, and the consumption upgrading trend is the most obvious.

　　Compared with the past, the accompanying gifts for visiting relatives and friends during the Spring Festival this year are also more diversified. JD.COM big data shows that teaching AIDS, health care products for the elderly and gold ornaments have become popular gifts for Chinese New Year. Compared with the same period of last year, the sales volume of teaching AIDS increased by 710% year-on-year, the order amount of gold jewelry increased by 126% year-on-year, and the order amount of health care products such as aged milk powder, calcium tablets and vitamins increased by 128% year-on-year. The e-commerce retail platform, which is constantly enriched in commodity categories, provides consumers with a broader range of choices and becomes a good choice to meet consumers’ diversified and personalized shopping needs. It is not difficult to see from the consumption structure that the consumption proportion of non-physical goods, such as travel, entertainment and health, continues to increase compared with previous years, which also represents that China consumers pay more and more attention to cultural products and quality services.

　　The e-commerce platform also facilitates consumption during the holiday season. New Year’s Eve and dinner are indispensable in the Spring Festival. Even if the choice of offline supermarkets and vegetable markets is limited, consumers can buy the required ingredients or even semi-finished meals at any time on the e-commerce platform. The convenient retail platform allows consumers to eat well and buy easily during the Spring Festival. Compared with the same period of last year, the categories with the fastest year-on-year growth in fresh sales during the Spring Festival are: poultry, eggs, frozen food, seafood and aquatic products. In the consumption of fresh food, frozen food is the sales champion, among which Yuanxiao, hot pot pills and dumplings are all popular goods.

　　The changing trend of consumer demand is a clear consumption upgrade, which means that in addition to providing high-quality goods, enterprises need to continuously provide very personalized services. Ren Xingzhou, a researcher at the Institute of Market Economy of the State Council Development Research Center, believes that diversification of commodities and taking consumers as the center is an important starting point for promoting the steady growth of consumption through high-quality services.

　　Strong consumption vitality in generate, a low-tier city.

　　The continuous improvement of consumption quality during the Spring Festival is a spark of passion after the traditional taste of the year meets the digital economy. Advanced consumption during the Spring Festival is not only reflected in the diversification and individualization of categories, but also in the sinking of consumption upgrading, and the strong consumption vitality of low-tier cities and more consumers in generate.

　　Ten departments, including the National Development and Reform Commission, recently jointly issued the "Implementation Plan for Further Optimizing Supply, Promoting Steady Growth of Consumption and Promoting the Formation of a Strong Domestic Market (2019)", and put forward 24 specific measures in six aspects, which pointed out that it is necessary to stimulate urban and rural consumption and meet multi-level and personalized consumer demand.

　　The high-quality retail platform represented by JD.COM Platform brings a variety of goods to consumers through "no closing time during the Spring Festival", and the intimate service of door-to-door delivery makes shopping convenient and easy. Take New Year’s Eve and all kinds of dinners as an example. Consumers used to visit vegetable markets and supermarkets, but now they can buy the required ingredients directly on the e-commerce platform at any time. A convenient retail platform like JD.COM allows consumers to "eat all over the world" during the Spring Festival and make fresh and delicious food within reach.

　　According to big data from JD.COM, during the Spring Festival, consumption from low-tier cities showed strong growth, among which consumption growth in fourth-and sixth-tier cities was the highest. Behind the ease and convenience of shopping, there is an increasingly perfect logistics infrastructure layout. Now, with the gradual sinking of consumption channels, the gap between urban and rural areas has gradually narrowed, and the "small town youth" in low-tier cities have also released strong consumption vitality. On the one hand, young people who worked hard in the city returned home for the New Year, which effectively promoted the consumption upgrade in their hometown; On the other hand, the sinking of e-commerce channels has enabled more and more rural users to enjoy the convenient services of e-commerce anytime and anywhere during the holidays.

　　Returning population promotes the popularization of advanced consumption patterns.

　　Every year, the Spring Festival is the peak for travelers from all over the country to return home. The data shows that the number of floating population in China is 247 million, which is equivalent to one in every six people. These floating population will bring the consumption habits they developed in big cities back to their hometown, which is also driving the popularization of advanced consumption patterns and habits.

　　The floating population in different cities also have different consumption habits for purchasing new year’s goods. According to JD.COM Big Data, the floating population in the Yangtze River Delta region is the most willing to spend money on buying new year’s goods. On average, they have to buy more than 1,000 yuan for their hometown.

　　In recent years, the new year’s goods purchased by returning youth have also effectively verified the growth of consumers in China. For example, large-scale electrical appliances and large-scale furniture were the main products in 2016 and 2017, but their rankings dropped sharply in 2018. In 2018, watches and beauty and skin care products that are smaller in size and relatively inexpensive have become a new generation of new year’s goods. It is worth mentioning that local travel and car maintenance ranked second and third respectively in 2018, which means that young people in the new era are more inclined to buy services for their parents than to buy more practical furniture and appliances.

　　The analysis of JD.COM Big Data shows that when a commodity is bought back to its hometown as a new year’s goods, it will have a direct expansion effect. In the following six months, the sales volume of typical "returning home for new year’s goods" will increase significantly, which means that a new consumption habit has flowed from the purchase of floating population to the hometown and has become a new consumption trend in new regions. This means that the floating population is changing the overall consumption structure through their consumption behavior.

　　From hoarding radish, cabbage, rice flour, grain and oil, clothes, shoes and socks in the past, to jumping out of the shackles of "food and clothing" and enjoying all kinds of special goods anytime and anywhere, this is behind the unremitting pursuit and continuous creation of the broad masses of people for a better life. With the people’s pockets getting bigger and bigger, their consumption tastes are getting higher and higher, and their desire for consumption is getting stronger and stronger. The rapid improvement of national consumption capacity is particularly obvious during the Spring Festival, and the high-quality e-commerce platform brings high-quality goods and considerate services to consumers with rich goods and convenient services, which is a clear manifestation of the improvement of China’s economic level and the continuous upgrading of consumption. (This article Source: Economic Daily Author: JD.COM Big Data Research Institute Economic Daily China Economic Trend Research Institute Author: Sun Shifang Liu Hui Wang Zhen Liu Yanan)