A Shanghai Commerce Commission report states between April 30 to May 4, retail spending in Shanghai totaled 53.03 billion yuan (US$7.3 billion), with online consumption reaching 23.54 billion yuan, an increase of 8.3% over the same period in 2023.
The total in-store passenger flow of at 35 major commercial districts was 25.69 million, an increase of 5.4% year-on-year. Inbound travelers surged by 62.2% to more than 100,000 over the period.
More than 200 promotional events, street bazaars and leisure activities took place in the city during the holiday, which are part of the Fifth Shanghai Double Five Shopping Festival that began at the end of April.
According to payment data from UnionPay, physical store spending totaled 30.81 billion yuan during the holiday, with nearly half the total, just under 15 billion yuan registered as purchases by visitors from out of Shanghai.
The overall number of payments jumped 9.1 percent from the same period a year earlier to 14.49 million. Jiangsu, Zhejiang, Anhui and Shandong were the top provinces in terms of the number of payments.
