双节一线城市消费账本：京深客单价降，广州“最会花钱”

Core Insights - The overlapping of National Day and Mid-Autumn Festival provided a unique opportunity to observe consumer vitality in China's first-tier cities, with all four cities reporting a positive overall consumption performance during the eight-day holiday [1] - While total visitor numbers and consumption amounts increased, there was a nuanced differentiation in per capita spending, with Beijing and Shenzhen experiencing declines, while Guangzhou showed a slight increase [1][5] Group 1: Visitor Statistics - Shanghai received 25.485 million visitors, a year-on-year increase of 19.7%, making it the leading city in terms of visitor numbers [5] - Beijing followed closely with 25.094 million visitors, a 3.6% increase, while Guangzhou welcomed 17.38 million visitors, up 5.5% [5] - Shenzhen had over 9.2 million visitors, marking a 12.4% increase [5] Group 2: Consumption Data - Beijing led in total tourism spending with 31.65 billion yuan, a 4.7% year-on-year increase [5] - Guangzhou reported 15.65 billion yuan in spending, an 18.1% increase, while Shanghai's total payment volume reached 79.6 billion yuan, reflecting a 3% increase [5] - Per capita spending in Beijing decreased to 157.66 yuan, down 20 yuan from last year, while Shenzhen's per capita spending fell to 121.43 yuan, a decline of 11.3 yuan [5] Group 3: City-Specific Trends - Guangzhou's per capita spending increased slightly from 111.63 yuan to 112.56 yuan, indicating resilience supported by strong sectors like gold, automobiles, and real estate [6] - Beijing's holiday theme revolved around "events and culture," with significant increases in hotel bookings and cultural performances, showcasing a vibrant cultural economy [9][11] - Shanghai emphasized "fusion" and "international flair," with high-end events and art exhibitions driving sales growth in key commercial areas [13][14] - Shenzhen focused on "new" and "trendy" experiences, with innovative attractions like the ice world and immersive dining experiences appealing to younger consumers [16] Group 4: Year-to-Date Retail Performance - Shanghai's retail sales reached 1.0926 trillion yuan in the first eight months, a 3.7% year-on-year increase, positioning it for a strong annual performance [21] - Beijing's retail sales totaled 866.1 billion yuan, down 5.1%, indicating a need for recovery strategies [21] - Guangzhou's retail sales were approximately 723.7 billion yuan, up 4.9%, but faced challenges from changing consumer behaviors [21] - Shenzhen's retail sales were about 856 billion yuan, lagging behind Chengdu, which has seen rapid growth in consumption [21][22]