The Spring Festival is also the most important festival for China people. Generally, you will choose high-grade hotels and restaurants to entertain friends and relatives, especially the reunion dinner on New Year's Eve. Generally speaking, people eat the most and have the highest grade. During the Spring Festival, the average expenditure on food and beverage consumption is about 40% higher than other holidays, and the average expenditure on New Year's Eve is twice that of other holidays.
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 choose to entertain relatives and friends at home during the Spring Festival, a family reunion festival.
The Spring Festival is the most intensive period of population migration in China. Many mainland tourists travel, shop, visit relatives and friends in first-tier cities such as Beijing, Guangzhou and Shenzhen, which drives local catering consumption. For some provinces with more migrant workers, it has become the first choice for many wanderers to go home to reunite with their families and taste the long-lost hometown flavor at home during the Spring Festival.
Second, go on road trip is warming up year by year.
"Traveling for the New Year" is becoming more and more popular. According to the tourism transaction data, since the week before the Spring Festival, the sales and consumption of road and railway passenger transport and air tickets have gradually picked up. During the Spring Festival, the total transaction amount of these three types increased by 42% compared with the same period of last year, with highways increasing the most, reaching 98%, and aviation and railways increasing by 39% year-on-year. The amount of related refueling transactions in go on road trip increased by 39% year-on-year, and the amount of ticket sales and credit card transactions in large scenic spots nationwide increased by 40% year-on-year. Self-driving leisure travel and self-help holiday travel have become the first choice for more and more people in the new year.
With the trend of outbound travel changing to "free travel and deep travel", tourists' credit card payment has also extended from traditional shopping to more fields such as vacation and leisure, and the proportion of consumption such as special experiences and services, amusement parks and scenic spots tickets has increased year by year.
Third, selling terminal credit cards is still the mainstream.
UnionPay big data also shows new changes in residents' payment methods. In absolute terms, during the Spring Festival, online transactions of UnionPay mainly use POS machines (sales terminals) to swipe cards, accounting for more than half, and online business in mobile and Internet channels accounts for less than usual, which is related to the closure of many e-commerce logistics during holidays. However, from the year-on-year growth, the transaction amount of POS machines increased by 17%, and the online business of mobile Internet and other channels increased by 170%, indicating that with the development of mobile payment and Internet finance, more consumers tend to try some new payment methods.