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Chinese tech giants providing dining and travel-booking services saw consumer spending surge on their platforms during the "golden week" National Day holiday, according to data released by on-demand local services firms including Meituan and ByteDance-owned Douyin, the Chinese version of TikTok.
During the first five days of the annual break, which ran this year from October 1 through October 7, spending on in-restaurant dining booked via Meituan grew 41.2 per cent over last year, according to Chinese media reports that cited data from the Beijing-based company.
Chinese consumers also splurged on hotel reservations, overseas trips and holiday packages via popular online travel agencies (OTAs) that include Trip.com and Alibaba Group Holding travel-booking platform Fliggy. Alibaba owns the South China Morning Post.
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Outbound travel booking and holiday packages - which bundle flight tickets, hotel stays and dining - grew by more than 50 per cent and 40 per cent, respectively, during "golden week" on Fliggy, according to a statement from the platform.
Customers at a restaurant on Nanjing East Road in Shanghai on October 2, 2024. Photo: Bloomberg alt=Customers at a restaurant on Nanjing East Road in Shanghai on October 2, 2024. Photo: Bloomberg>
On Trip.com, average daily orders related to outbound travel reached a historic high over the same period, according to a post published by the popular OTA on WeChat, without elaborating.
Meanwhile, overall hotel reservations on Douyin more than tripled, while short-distance cruise trips arranged via the platform increased 123 per cent, according to a statement from the ByteDance unit.
The rise in spending on these popular online platforms during the annual break reflects a welcome shift in consumer behaviour on the mainland, following Beijing's announcement of wide-ranging economic-stimulus measures on September 24.
The rebound in travel orders on multiple platforms, for example, showed a strong recovery for Chinese consumers going on overseas trips, according to Cheng Liteng, an analyst with e-commerce consultancy 100ec.cn.
Mainland travellers crowd the Lo Wu MTR station on the first day of this year's "golden week" National Day holiday on October 1, 2024. Photo: Eugene Lee alt=Mainland travellers crowd the Lo Wu MTR station on the first day of this year's "golden week" National Day holiday on October 1, 2024. Photo: Eugene Lee>