与此同时，广东通过以旧换新及广东优品购活动，以真金白银激发消费潜能。数据显示，春节假期，全 省消费品以旧换新销售额18.2亿元。其中，汽车以旧换新销售额3.2亿元，家电以旧换新销售额3.5亿 元，数码和智能产品购新销售额11.5亿元。 "粤享暖冬 乐游广东"消费季期间，广东持续发放"广东优品购"优惠券。数据显示，广东优品购活动在 春节假期带动销售额8.6亿元，其中汽车购新销售额3.1亿元，家电产品购新销售额8927.8万元，电子产 品购新核销销售额4.1亿元，地市特色优品购新销售额5263.3万元。 今年春节假期，广东消费市场"马力"全开，人气十足，购销两旺。来自省商务厅的数据显示，今年春节 假期（2月15日—23日），广东零售额同比（比2025年春节同期，下同）增长13%，餐饮消费同比增长 2.3%，两项合计同比增长12.4%。全省以旧换新及广东优品购活动累计实现销售额26.8亿元。 春节期间，广东各地市积极响应"乐购新春"特别行动，打造全域联动、全民乐享的春节消费盛宴。 在广州，北京路步行街举办"广货行天下"迎春年货节，花城广场开展"非遗年货购物月"活动，广州聚龙 湾太古里、陈家祠商圈打造西关风情年货盛宴 ...

分析师 1: 好的，各位投资人晚上好，非常欢迎参加我们今天的这场电话会。今天我们是非常荣幸的 邀请到一位在行业非常资深的高端购物中心的专家。为我们分享一下春节假期高端消费的 大致情况。那今天我们就直接进行 QA 了，然后有几个大家共性关注的问题，我先跟专家 做个请教，就第一个先麻烦专家帮我们分享，跟拆分一下春节假期在可比口径下。我们这 边的，包括销售额，还有客流、客单的一个大致情况，跟去年同期的对比，谢谢。 高端购物中心行业专家: 那， OK，行。长度和跨度其实都不太一样。那么考虑到整个口径相同的一个原因，然后 我就统一的就按照这个叫什么？按照从大年三十就是我们所说的除夕，除夕那一天，然后 到年初六，大概 7 天的这样的一个数据，然后去做一个对比，这样可能两年之间的这样的 一个口径，就把它变得趋同或者相同。然后更有可比性一点。那么我们系统内部的这个情 况是这个样子的，因为刚刚过去的春节。然后我们今天才是第一天上班，正式上班。然后 有些数据其实还是在，正在在这个统计的过程当中，可能应该等一下，我们要问到的有， 有些品牌或者分品牌的一些情况，可能现在目前可能还不能完全的去展示出来。 但是这个我觉得其实问题并不大， ...

春节假期，贵州荔波县以"三免"惠民政策为抓手，叠加丰富多彩的文体旅活动，持续点燃新春消费热潮， 全县文旅市场呈现人气旺、消费火、年味浓的喜人态势。截至2月20日(正月初四)，荔波全县单日接待游 客9.13万人次，假期累计接待游客37.25万人次，同比增长38.8%，以荔波古镇为核心的城区商圈更是客流 如织、生意红火，实现新春文旅消费"开门红"。 为吸引全国游客前来游玩消费，荔波县推出景区门票"三免"惠民政策：游客凭参与活动酒店入住发票，可 免小七孔、瑶山古寨、茂兰等景区首道门票；游览茂兰景区或瑶山古寨，可免小七孔景区门票；打卡贵 州"村排"赛事并发布朋友圈，同样可享受小七孔景区免票福利。实打实的"宠客"举措，有效串联起景区、 住宿、餐饮、购物等消费链条，推动客流从景区向城区、向荔波古镇集聚，形成了全域文旅消费良性互动 格局。 政策红利直接拉动住宿市场全线升温。截至2月20日(正月初四)，荔波县城大型酒店近乎满房，荔波古镇 民宿入住率超70%，多家特色民宿更是一房难求。荔波古镇一民宿负责人杨浩坦言："政府推出的'三免'政 策吸引力十足，不少游客专程冲着免票福利而来，今年春节生意出乎意料的火爆。" 人气聚起来，消 ...

"春节假期的消费需求是多元的，既要有年货采购的热闹，也要有休闲放松的从容。"山东省商务厅相关负责人在接受采访时介绍，"正月初三是假期承上启 下的节点，大家不再忙于走亲访友，更倾向于放松身心、享受生活。"为此，山东精准把握群众"慢下来、歇一歇、乐一乐"的需求，推出"闲步春市·悦购时 光"主题日活动，将传统购物场景升级为集休闲、娱乐、社交于一体的城市公共空间，让"逛商圈"变成一种节日生活方式。 本次主题日活动活动跳出单一的促销逻辑，着力构建"购物+"消费生态。全省重点商业综合体、步行街、特色街区适当延长营业时间至晚间，为消费者留出 充足的休闲空间。在商品端，服装服饰、美妆护肤、黄金珠宝等"悦己型"消费品类成为促销主力，多家商场推出新春特别折扣、满额赠礼、黄金克减等惠民 举措；在体验端，影院、咖啡馆、亲子乐园等业态深度联动，推出"电影+餐饮""亲子套票""闺蜜下午茶"等新春特惠套餐，实现"一券通玩、一站尽享"，构 建闭环式消费生态。 "我们的目标，是让群众在正月初三这一天，既能享受到购物的实惠，又能体验到娱乐的快乐，更能拥有休憩的惬意。"该负责人说，活动将政策红利与民生 需求深度绑定，让休闲时光成为拉动消费的新引擎 ...

2026.02. 11 本文字数：1766，阅读时长大约3分钟 景区免费后还要注意的是游客的爽约问题。由于门票成本为零，于是有些游客会选择先预约，但之后 随意爽约，这就影响了景区的正常客流。2025年12月至2026年1月，杭州灵隐飞来峰景区实行免票 预约制度，官方数据显示，那段时间累计爽约人数超过38万，占预约总量的接近20%。 作者 | 第一财经 乐琰 从海南鹿回头、天涯海角再到杭州灵隐寺飞来峰景区，如今越来越多景区进入了"门票免费时代"。 随着2026年春节的临近，各大景区将迎来客流高峰，那么景区究竟该不该免费？这是有助于景区拉 动其他消费还是会造成游客过多的接待问题？ 从景区本身的运维来看，大部分中国景区都有一个特点，那就是收入结构单一化，基本就靠门票，其 他的二次消费收入很少甚至是没有，而不少国际IP主题景区或主题公园则有50%甚至更高的比例是 依靠二次消费。于是，前几年涌现出一批百元以上的高价景区门票，因为提高票价就可以提高收入， 然而这样的做法使得不少游客"用脚投票"。 于是，一部分景区开始转变方向，降低票价甚至是免门票，如此一来的确是吸引了一大批游客前来， 在短期内提升了客流量，尤其是春节这样 ...

Core Viewpoint - Southbound funds have increased their holdings in Melco International Development (00200.HK) by 828,000 shares on February 9, indicating a positive trend in investor interest [1] Group 1: Shareholding Activity - Over the past five trading days, southbound funds have increased their holdings for four days, with a total net increase of 2.54 million shares [1] - In the last twenty trading days, there have been eleven days of net increases, totaling 1.3585 million shares [1] - As of now, southbound funds hold 148 million shares of Melco International Development, representing 6.49% of the company's issued ordinary shares [1] Group 2: Company Overview - Melco International Development Limited is primarily engaged in the investment holding of entertainment and hotel businesses [1] - The company operates through two segments: the entertainment and hotel segment, which includes casino operations and hotel services, and the other segment, which focuses on investment activities [1]

Core Insights - The total non-gaming expenditure of tourists in Macau is projected to increase by 14.2% year-on-year to MOP 21.87 billion in Q4 2025, driven primarily by a significant rise in spending from same-day visitors, which surged by 85.9% to MOP 5.34 billion [1] - The total non-gaming expenditure for the entire year of 2025 is expected to reach MOP 80.12 billion, reflecting a year-on-year increase of 6.3% [1] Summary by Categories Q4 2025 Tourist Expenditure - Non-gaming expenditure per tourist in Q4 2025 is estimated at MOP 2,104, showing a slight decline of 1.0% year-on-year but an increase of 7.9% quarter-on-quarter [1] - The main categories of tourist spending are shopping (45.4%), accommodation (25.0%), and dining (20.6%) [1] - Exhibition visitors have the highest per capita expenditure at MOP 4,821 in Q4 2025 [1] Annual Expenditure Trends - For the full year of 2025, the expenditure from overnight tourists is projected to be MOP 63.31 billion, while same-day visitors are expected to contribute MOP 16.81 billion, marking increases of 1.6% and 28.9% respectively [1] - The average non-gaming expenditure per tourist for the year is forecasted to be MOP 2,000, reflecting a year-on-year decrease of 7.3% [1] Key Source Markets - Per capita expenditure from key source markets shows a decline: Mainland China at MOP 2,245 (down 10.3%), Hong Kong at MOP 988 (down 2.1%), and international tourists at MOP 2,064 (down 3.5%) [1] - In contrast, Taiwan's per capita expenditure increased by 6.7% to MOP 2,083 [1] - Exhibition visitors continue to have the highest per capita expenditure for the year at MOP 4,572 [1]

智通财经获悉，去年香港零售业总销货价值的临时估计同比升1%至3805亿元。德勤预期，2026年香港 零售销售同比增长近8%至约4,100亿港元，主因受惠于中国经济预期逐步复苏，虽然地缘政治风险仍存 在，但房地产市场趋向稳定、股市保持畅旺带来的财富效应，加上人民币走强带动访港旅客增加，令市 场前景更趋乐观。 本文源自：智通财经 去年港人外游增加，导致部分消费流向内地及海外市场，但人民币在年底走强预料令北上消费动力减 弱。德勤中国预计，今年访港旅客将继续推动奢侈品、电子消费品、药物及化妆品，以及餐饮等领域的 消费，但外游消费或会抵消部分零售增长。 德勤中国香港消费市场业务主管合伙人郑焕然表示，香港消费市场去年下半年复苏理想，预计今年香港 本地零售业将保持动力，主要零售类别预期将带动增长，其中珠宝首饰、钟表及名贵礼物有望升19%、 服装鞋履增长16%、药物及化妆品上升11%、百货公司增长10%。因应宏观经济影响一般滞后股市约六 个月，下半年表现预料优于上半年，情况与去年相似。 香港去年举办多项大型精彩活动，德勤中国建议香港政府进一步深化并拓展盛事经济发展，加大力度支 持举办大型体育活动、演唱会、展览及国际会议，以吸 ...

Group 1: Retail Market Overview - The total sales value of Hong Kong's retail industry is estimated to have increased by 1% year-on-year to HKD 380.5 billion last year [1] - Deloitte forecasts that retail sales in Hong Kong will grow nearly 8% year-on-year to approximately HKD 410 billion by 2026, driven by the gradual recovery of the Chinese economy [1] - The strengthening of the Renminbi is expected to increase the number of visitors to Hong Kong, contributing to a more optimistic market outlook [1] Group 2: Consumer Trends and Categories - The increase in outbound travel by Hong Kong residents has led to some consumption shifting to mainland China and overseas markets, although the strong Renminbi is anticipated to weaken the motivation for spending in mainland China [1] - Deloitte China expects that visitor spending in Hong Kong will continue to boost consumption in luxury goods, electronics, pharmaceuticals, cosmetics, and dining sectors this year [1] - Key retail categories expected to drive growth include jewelry and watches (19% increase), clothing and footwear (16% increase), pharmaceuticals and cosmetics (11% increase), and department stores (10% increase) [1] Group 3: Events and Tourism Development - Deloitte China recommends that the Hong Kong government further deepen and expand the development of the events economy by supporting large-scale sports events, concerts, exhibitions, and international conferences to attract more visitors [2] - Utilizing the Kai Tak Sports Park and Kai Tak Cruise Terminal for more flagship events is suggested to enhance Hong Kong's international image and solidify its position as a tourism hub and convention city [2]

Core Viewpoint - Yantai has been selected as a pilot city for a national prize invoice initiative aimed at stimulating consumer spending through incentive policies [1] Group 1: Program Details - The prize invoice initiative is a collaborative effort by the Ministry of Finance, Ministry of Commerce, and State Taxation Administration [1] - The program will cover eight major consumer sectors: retail, catering, accommodation, cultural arts, entertainment, tourism, sports, and residential services [1] - The trial period for the initiative is set for six months, during which consumers can participate in a lottery by obtaining eligible invoices [1] Group 2: Participation Requirements - To qualify for the lottery, invoices must meet four key criteria: a minimum face value of 100 yuan, must be a general VAT invoice, the purchaser must provide their real name, and the invoice must be issued in the name of an individual consumer [1] - The maximum prize amount for a single invoice is 800 yuan [1] Group 3: Implementation Timeline - Yantai's relevant departments are actively working on the implementation plan and technical platform integration, aiming to launch the prize invoice activity before the Spring Festival [2] - Specific lottery rules, prize settings, and redemption processes will be clarified and announced through official channels [2]