Bank card consumption during the Spring Festival?

According to the latest data released by China UnionPay on 14th, during the Spring Festival holiday in 216 (from New Year's Eve to the sixth day of the first month), the total number of online transactions of UnionPay reached 37 million, up by 15% compared with the same period of last year, and the total transaction amount reached 312.1 billion yuan, up by 31% compared with the same period of last year.

During the seven-day long holiday, people spend more than 1 billion yuan on daily credit cards, and shopping, traveling and catering have become the main force of daily consumption. Among them, supermarkets, large-scale household appliances monopoly and department stores accounted for more than half of the total, and the amount of credit card transactions of the three types of businesses increased by 41%, 22% and 13% compared with the same period, while catering consumption contributed more than 5 billion yuan to long holiday transactions, and the average spending amount was higher than usual holidays. In addition, the consumption of aviation, railways, highways, refueling, accommodation, and ticket sales in scenic spots related to travel accounts for about 1% of daily consumption.

consumption in the spring festival will peak in the week before the festival. For four consecutive days from February 3 to February 6, the number of interbank transactions in a single day exceeded 1 million, and the amount of transactions in a single day for five consecutive days from February 1 to February 5 exceeded 27 billion yuan, including 17 million transactions on February 5 and 295 billion yuan on February 1, both of which reached record highs.

Chen Han, a data analyst of China UnionPay, said that from the data of the big data platform of UnionPay in the past ten years, the week before the Spring Festival every year is the peak of bank card transactions, and the number and amount of transactions have increased by more than 4% compared with usual. However, from around noon on New Year's Eve, bank card transactions have dropped significantly, with the lowest point on the first day of the first month of the first month, which is only about 4% of usual. This is because consumer demand is released in advance before the Spring Festival, and after the New Year's Eve, the business hours of many businesses will be shortened.

The average consumption for dining out is 585 yuan

It is still the first choice to entertain relatives and friends at home

According to the statistics of UnionPay big data platform, during the Spring Festival, the transaction amount of bank cards for catering consumption in China increased by 6%, with an average consumption of 585 yuan.

"The Spring Festival is also the most important festival for China people. Generally speaking, hotels and restaurants with higher grades will be chosen for entertaining relatives and friends, especially the reunion dinner on New Year's Eve. Generally speaking, the number of people eating is the largest and the grade is the highest." According to Chen Han's analysis, the average expenditure of catering consumption during the Spring Festival is about 4% higher than that of other holidays, and the average amount of consumption on New Year's Eve is twice as much as that of other holidays.

judging from the composition of daily consumption of bank cards during the Spring Festival holiday in the last three years, the absolute amount of food and beverage consumption is increasing year by year, but the proportion of daily consumption of residents is decreasing year by year, accounting for 7%, 6% and 5% respectively in the last three years. The proportion of supermarket consumption related to the purchase of ingredients is increasing year by year, accounting for 17%, 19% and 21% respectively in the last three years.

"Although the investment of ordinary people in going out for dinner is obviously higher than other holidays, it is still the first choice for ordinary people to entertain relatives and friends at home during the Spring Festival, a festival of family reunion." Chen Han said.

The data also shows that during the Spring Festival, Guangdong, Shanghai, Beijing, Jiangsu and Zhejiang have the highest consumption in catering. In terms of year-on-year growth, Tibet, Gansu, Beijing, Fujian and Hubei have the highest growth rates, accounting for 53%, 51%, 42%, 42% and 37% respectively. Considering the population of different places, Shanghai, Beijing, Hainan, Guangdong and Fujian have the largest per capita catering consumption quota, while Guizhou, Hunan, Jilin, Heilongjiang and Yunnan have the lowest per capita catering consumption quota.

during the spring festival, the population migration in China is the most intensive period. many mainland tourists travel, shop and visit relatives and friends in first-tier cities such as beishangguangshen and Shenzhen, which drives local catering consumption. For some provinces with a large number of migrant workers, it has become the first choice for many wanderers to return home to reunite with their families during the Spring Festival and taste the long-lost hometown flavor at home.