Shanghai recorded over $11b in spending during the holiday

As much as 76.24 billion yuan ($11.37 billion) was spent both offline and online across Shanghai during the week-long National Day holiday, up 9.9 percent year-on-year, according to data from the Shanghai Municipal Commission of Commerce.

Both online consumption and physical-store spending recorded steady growth during the period. A total of 40.04 billion yuan was spent at brick-and-mortar stores, surging 15.1 percent year-on-year, and online spending rose 4.7 percent year-on-year to hit 36.2 billion yuan during the same period.

The city's 19 major business districts posted a 14.5 percent year-on-year growth in sales revenue to reach a combined value of 5.62 billion yuan, with the average daily foot traffic totaling 3.96 million, up 1.9 percent year-on-year.

The consumption coupons distributed by the municipal and district governments drove holiday consumption by 2.51 billion yuan in sales revenue across the city.

A vibrant surge is seen in inbound consumption, highlighted by the sales revenue generated from tax refund upon departure, which soared 47 percent year-on-year during the National Day holiday. Meanwhile, tax refund upon purchase surged 110 percent year-on-year. A total of 2,748 stores offered tax refund upon departure service as of the end of September.