By Dong Na

"When the New Year holiday started, the number of customers at our restaurant increased significantly. Compared to an ordinary weekend, it went up by about 25%. Latecomers had to wait 40 to 60 minutes for a table," a restaurant owner said. During the 2022 New Year holiday, Ningbo's consumer market performed well.

From January 1 to 3, Ningbo's top fifty retailers and caterers reported an accumulated total revenue of 798 million yuan. Though lower than 2021 levels, the figure is 2.7% higher than the same period in 2020. On January 3, revenues reached 203 million yuan, surpassing that of the same date in 2021 and 2020.

During this New Year holiday, Ningbo shoppers have demonstrated a markedly stronger purchasing power. The sales of high-priced goods such as tobacco and alcohol; cosmetics; gold jewelry; and home appliances and digital devices witnessed a year-on-year growth of 43.5%, 2.3%, 22%, and 3.2% respectively. In particular, on January 2, the sales of gold and silver jewelry; cosmetics; and tobacco and alcohol were 6.4 times, 11.4 times, and 3.9 times higher compared to the same date in 2021.

On New Year's Eve and New Year's Day, the traffic and sales of Ningbo MIXCONE increased by 24% and 18% year-on-year respectively; catering and jewelry retail outlets at the mall saw their revenues go up 25% and 20% compared to the year before, thanks to the holiday effect. The 9th anniversary of InCity Plaza's opening in Yinzhou coincided with the first day of the New Year; single-day footfall on December 31 reached 42,000 and sales hit 5.35 million yuan.

The opening of Metro Line 5 makes commuting much more convenient for Ningbo shoppers. "If I took the bus to Hankyu Department Store, it would have taken nearly 40 minutes. Now it's faster: I can walk to a subway station near my home and be at Hankyu in 15 minutes," one citizen said. Many businesses near subway stations benefited from the new line's opening. A restaurant manager in Hongtai Plaza reported a significant rise in diners during this year's holiday compared to the year before.

Chief Adviser: Zhao Qingchuan

Proofreader: Xu Zhuowei