Shanghai sees shopping spending cross $7b during holiday

Shanghai reported steady growth in both online consumption and physical-store spending, reaching 53 billion yuan ($7.35 billion) during the five-day May Day holiday, according to official data.

During the period, a total of 23.54 billion yuan was spent online, up 8.3 percent year-on-year, data from the Consumer Market Big Data Laboratory (Shanghai) indicated, while consumption at physical stores amounted to 30.81 billion yuan in the same period, according to big data collected by China UnionPay.

In Shanghai's 35 major business districts, foot traffic totaled 25.69 million passenger trips, a growth of 5.4 percent from the same period of last year. In the meantime, more than 100,000 passenger trips of inbound tourists were monitored by the big data lab, soaring 62.2 percent year-on-year.

Consumers from outside of Shanghai spent 14.9 billion yuan via some 14.49 million passenger trips in the holiday, surging 0.7 percent and 9.1 percent from a year ago, respectively.