Market vitality fueling growth, novel trends

The ice-and-snow economy has also emerged as a new hot consumer category. It is not only flourishing in China's northern regions, but also gaining popularity in the south, where snow resources are relatively scarce.

For instance, since the opening of the Shanghai L+SNOW Indoor Skiing Theme Resort in September 2024, a venue which features the world's largest indoor ski facility, daily visitors flow have averaged from around 1,500 to 2,000 people. During the recent Spring Festival holiday, this number surged to about 8,000 visitors per day.

"As ice-and-snow consumption moves from niche to mainstream, it will help China build a robust ice-and-snow economy, offering a new and vital pillar for the country's economic growth," said Zheng Liansheng, a researcher with the Institute of Finance and Banking, affiliated with the Chinese Academy of Social Sciences.

Vibrant consumer spending data stemming from the 2025 Spring Festival holiday confirm a strong and energetic start to the year for the world's second-largest economy.

Domestic travel spending during the holiday reached 677 billion yuan ($94.42 billion), representing a 7 percent increase from the same period last year, according to data released by the Ministry of Culture and Tourism.

The Spring Festival box office also enjoyed a very positive run, with revenue soaring to 9.51 billion yuan — a record high. The animated blockbuster "Ne Zha 2" was the star of the show as it became the first Chinese film to gross over 12 billion yuan and secure its place in the top 10 of global box office rankings.

China's policy-backed trade-in program for consumer goods served as a further boost, significantly lifting holiday market sentiment. Sales revenue for household appliances and audiovisual equipment surged by 166.4 percent compared to the 2024 holiday period, while sales of communication devices skyrocketed 181.9 percent year-on-year, data from the State Taxation Administration revealed.

In addition, sales of new energy vehicles increased 29.4 percent year-on-year to 944,000 units in January — accounting for 38.9 percent of total new vehicle sales last month.

"On the one hand, trade-in programs offer consumers more affordable and greener high-quality products. On the other, they significantly promote the green transformation of industries such as the automobile and home appliance industries," said Li Chang'an, a researcher at the Academy of China Open Economy Studies under the University of International Business and Economics.

With the rise in living standards in China, people are increasingly pursuing personalized and high-quality goods and services.

In response, a Yonghui Supermarket store in Beijing has streamlined its product range while enhancing product quality and service management, following its renovation initiatives that were inspired by popular supermarket chain Pangdonglai.

The store's daily average sales have more than quadrupled compared to pre-renovation levels, while its average transaction value has increased by over 60 percent, said Liu Shuhan, a regional deputy general manager of Yonghui Supermarket.

Notably, the consumption focus of residents is also shifting from goods to services — fueling the rise of new consumer trends.

"The cleaner was a young woman from Sichuan, and she was incredibly efficient," said a woman surnamed Fan, a resident of Dongcheng district in Beijing, after recently booking a home-cleaning service on JD.com.

In addition to housekeeping, many venues and businesses have rolled out a variety of other new services in seeking to adapt to consumer demands, with such services ranging from online fitness options to pet care and on-demand personal chefs.

"As the society develops rapidly and the pace of life accelerates, the demand for diversified and personalized services is growing," said Chen Ping, deputy manager of a housekeeping service provider in Jinan, capital of Shandong province.

Technology is also fueling China's booming consumer market. For example, by having digital avatars and human hosts taking turns, brands can keep their livestreaming rooms running round the clock, effectively boosting their sales potential.

"The recent consumption boom highlights China's strong domestic demand potential and broad prospects for future growth," said Chen Lifen, a researcher at the Development Research Center of the State Council, adding that China's consumption market is expected to maintain a trend of diversification and high-quality growth in 2025.

Xinhua