Travel and Tourism - During the National Day and Mid-Autumn Festival holiday, the average daily cross-regional passenger flow reached 154 million, a year-on-year increase of 5.4%[6] - Outbound and international flight executions increased by over 12% compared to the previous year[6] - The migration scale index rose significantly, with a year-on-year growth rate increasing from 12.8% before the holiday to 17.9%[8] Service Consumption - Tourist numbers and revenue in cities like Shanghai and Hubei grew by over 10%, with Shanghai leading at a 23.74% increase[12] - The average ticket price for movies dropped to 37.1 yuan, down from 40.5 yuan last year, marking a continuous decline for the second year[20] Product Consumption - National and local consumption subsidies supported retail sales, with key retail and catering enterprises seeing a 3.3% year-on-year increase in sales during the first four days of the holiday[23] - Automobile sales surged, with a 68.35% increase in vehicle scrappage in Hubei during the holiday period[23] - Sales of energy-efficient appliances grew by 19%, while smart refrigerators and home products saw increases of 20.7% and 16.8%, respectively[23] Real Estate Market - New home sales in 30 cities saw a seasonal decline, with a year-on-year drop of 15.7% by October 6, attributed to last year's policy effects[27] - The land market remained cold, with a land transaction area decline and a reduced premium rate of 0.05%[27] Consumer Trends - Consumers are increasingly focused on "cost-performance" and "emotional value," with a notable sensitivity to prices reflected in slower growth rates for tourism revenue compared to visitor numbers[29] - High-value experiences, such as cultural tourism and local experiences, are gaining popularity, with hotel search volumes in regions like Xinjiang and Inner Mongolia increasing by 60%[33]
国内高频指标跟踪（2025 年第 40 期）：假期消费：表现如何
Haitong Securities International·2025-10-09 06:30