OCT(SZ:000069) Zhong Jin Zai Xian·2024-02-16 08:28Core Insights - Alipay's Spring Festival report highlights the emergence of "characteristic economy," the rise of live-streaming for purchasing New Year goods, and a surge in outbound tourism during the Year of the Dragon [1][3][5] Group 1: Consumption Trends - The Spring Festival consumption has shown explosive growth, driven by the "characteristic economy," with significant increases in local tourism spending [1] - In Shanghai, the consumption amount for New Year's Eve dinners increased by 800% compared to last year, while Harbin's "ice and snow economy" attracted tourists from Guangdong, Zhejiang, and Shanghai [1] - Alipay's live-streaming sales for items like paper towels, alcoholic beverages, and gold saw increases of 300%, 100%, and 200% respectively in the two weeks leading up to New Year's Eve [1] Group 2: Inbound and Outbound Tourism - A significant influx of tourists from Hong Kong and Macau to nine cities in the Greater Bay Area resulted in a 200% increase in spending at supermarkets [3] - The spending by foreign tourists in China during the Spring Festival rose by 500%, with the number of businesses catering to these tourists increasing by 560% [3] - Alipay users' overseas spending grew by 140%, with Southeast Asia seeing a staggering 580% increase due to visa-free policies [5] Group 3: Technological Innovations in Celebrations - Nearly 600 million users engaged with Alipay's AI features for a modernized celebration experience, including "electronic receiving of wealth" and "AI red envelopes" [5] - The "Cyber New Year" activities attracted 100 million views on "receiving wealth" videos, and nearly 30 billion AI-generated "Fu" characters were found during the "collecting blessings" event [5] - Over 1 million users opened digital wallets for New Year's savings, with more than 80% being individuals from the post-90s and post-00s generations [5]