OCT(SZ:000069) Zhong Guo Jin Rong Xin Xi Wang·2024-02-18 04:32Core Insights - The 2024 Spring Festival saw a significant increase in consumer spending across various sectors, with daily consumption in the lifestyle services industry growing by 153% year-on-year during the holiday period from February 9 to February 15 [1][2][4]. Group 1: Consumer Trends - The report indicates that over 1 billion people participated in online activities related to the Spring Festival, with a 1.28 times increase in the number of people purchasing movie tickets on Douyin [1][6]. - The trend of "cloud visiting" temples, watching movies, and engaging in cultural activities has emerged as new customs during the holiday, reflecting a diversification in how people celebrate [4][7]. - The number of orders related to museums increased by 1.75 times, with over 7.8 billion views on related videos on Douyin [6][7]. Group 2: Regional Consumption Growth - Consumption in third-tier cities and below surged by 1.87 times, driven by 319 million people returning home to shop, generating an economic income of 1.185 billion yuan for their hometowns [2][4]. - Cities like Beijing, Shanghai, and Chengdu ranked as the top three in terms of consumption scale, with Chengdu's Kuanzhai Alley and other popular shopping districts seeing a significant increase in foot traffic [1][2]. Group 3: Popular Destinations and Activities - Xi'an emerged as the top destination for food and entertainment orders during the holiday, with a notable increase in tourism driven by cultural events [2][4]. - The report highlights that food orders grew by 99%, while tourism and leisure orders increased by 130% and 119%, respectively [2][4]. - Various local cultural events, such as lantern festivals and temple fairs, attracted significant online engagement, with Douyin users particularly interested in unique regional celebrations [2][7].