As incomes grow, consumers aim higher
By Fan Feifei | China Daily | Updated: 2018-02-23 07:21
A growing number of Chinese consumers, seeking higher-quality consumer goods, are splashing out more money during this year's Spring Festival on imported fresh food and intelligent home appliances.
The retail and catering sectors posted sales of 926 billion yuan ($146 billion) during the holiday period that began on Feb 15 and ended on Wednesday, an increase of 10.2 percent over the same period last year, according to Ministry of Commerce figures released on Wednesday.
The ministry said the key term for the Lunar New Year holiday is "consumption upgrade", as Chinese shoppers spent more on restaurants, retailers and movies, with higher quality and diversified products and services gaining popularity.
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