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February 13, 2023 8 minutes

Chinese New Year 2023 Review: Early Signs of Consumption Recovery Appear

Primary Analyst:
Charlotte Rothschild, Analyst
Contributors
Primary Analyst:
Charlotte Rothschild, Analyst
Sector Lead: John Harmon, CFA, Associate Director of Technology Research
Festivals and Holidays E-Commerce
Insight Report

What's Inside

In this report, we review retail performance during the 2023 Chinese New Year holiday, also known as Lunar New Year, which lasted from January 22 to January 29.

Data in this report include:

  • Chinese New Year domestic tourism revenue for 2018 through 2023
  • Total retail sales in China during Chinese New Year, 2011 through 2023
  • Total number of tourist trips taken during Chinese New Year 2023
  • Average daily sales during Chinese New Year 2023 in the province of Hainan
  • Categories and sectors which saw the highest year-over-year sales increases during this year’s Lunar New Year holiday, per Alibaba and JD.com

Companies mentioned in this report are: Alibaba, JD.com, Taobao and Tmall International

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