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经济动态点评:十一假期消费“打几星”?
Minsheng Securities·2025-10-08 05:12

Consumption Trends - The National Service Consumption during the first three days of the holiday increased by 21% year-on-year, surpassing product consumption for the first time, reaching 53%[3] - The unprecedented holiday length of 16 days, due to flexible leave policies, significantly boosted service sector consumption[3] Subsidies and Promotions - Major platforms like Gaode Map and Meituan provided substantial subsidies, contributing to a surge in dining and service consumption during the holiday[4] - The promotional activities led to a vibrant dining scene, further enhancing service consumption levels[4] Travel Patterns - Daily cross-regional mobility increased by 5.2% compared to last year, indicating a new peak in travel during the holiday[4] - There is a notable shift towards "high-frequency nearby" travel and "low-frequency long-distance" travel, reflecting a more rational consumer spending behavior[4] Consumer Preferences - The preference for "value for money" is evident, with consumers opting for experiences like movies over purchasing cars, and favoring second-hand homes over new ones[5] - The average ticket price for movies during the holiday was at a historical low, contributing to increased attendance[5] Real Estate Market - The transaction volume for new homes remained subdued, while the second-hand housing market showed stronger performance, maintaining high transaction levels compared to historical data[5]