Core Insights - The "old-for-new" policy in Shenzhen has significantly boosted sales during the Dragon Boat Festival, with 302,000 units sold and a revenue of 690 million yuan, marking a 40% increase in daily sales compared to the period before the holiday [1] - As of June 2, 2023, the total sales driven by the "old-for-new" initiative in Shenzhen reached 32.49 billion yuan, covering automobiles, home appliances, and digital products [2] Group 1: Sales Performance - During the Dragon Boat Festival, the top-selling products included over 58,000 smartphones, over 21,000 smartwatches, approximately 13,000 smart sports devices, about 12,500 tablets, and around 10,000 cooking machines [1] - Sales of projectors and personal health monitoring products saw significant increases, with revenue growth of 60% and 450% respectively compared to daily sales before the holiday [1] Group 2: Automotive Sector - The Guangdong-Hong Kong-Macao Greater Bay Area Auto Show, held from May 31 to June 8, coincided with the holiday, leading to increased foot traffic and sales, with an expected 450,000 attendees and projected sales of 4 billion yuan, representing a 27.84% and 8.1% increase compared to the previous event [1] Group 3: Policy Impact - Shenzhen has intensified the implementation of the "old-for-new" policy across various consumer goods, including home appliances, automobiles, and digital products, aiming to enhance consumption quality and stimulate market potential [2] - As of June 2, 2023, the "old-for-new" policy has facilitated the sale of 60,400 vehicles, generating 15 billion yuan in sales, while home appliances and digital products accounted for 9.486 million units sold and 17.49 billion yuan in revenue [2]

Core Insights - Shenzhen's holiday economy showed strong vitality during the May Day holiday, with a total of 14.5 million offline visitors in key monitored business districts, representing a 15.3% increase compared to the same period last year [1][2] Group 1: Consumer Activity - Major shopping centers in Shenzhen experienced significant foot traffic growth, with notable increases in specific areas: 壹方天地 shopping center (75.1%), 水贝商圈 (71.2%), 欢乐海岸街区 (36.5%), and 福田CBD商圈 (30.7%) [2] - Various promotional activities, including the "Shenzhen Good Goods Festival" and "2025 Shenzhen Futian Coffee Life Week," contributed to over 70 events aimed at boosting consumption during the holiday [1] Group 2: Retail Performance - The "old for new" policy and various discounts stimulated holiday consumption, with nearly 480,000 home appliances and digital products sold, generating sales of 780 million yuan, a 30% increase compared to daily sales before the holiday [2] - Top-selling products included fans (100,000 units), smartphones (over 85,000 units), smart sports equipment (55,000 units), air conditioners (42,000 units), and smartwatches (25,000 units) [2] Group 3: Automotive Sales - During the holiday, the automotive sector saw approximately 12,000 new car sales orders, amounting to nearly 2.8 billion yuan in sales [2] - Since the launch of the "old for new" initiative in 2025, over 7.45 million vehicles and home appliances have been sold, generating sales exceeding 24.6 billion yuan [2]