Insight Report 5 minutes PremiumDigital Red Packet Transactions for Chinese New Year Continue to Be Popular in 2019 Coresight Research February 7, 2019 Executive SummaryThe Spring Festival, also called the Lunar New Year or Chinese New Year, ushers in a period of spending and celebrations across China and other countries that observe the festival. Early data released by WeChat, China’s most-used messaging app, show that 14.2% of the red packets that were sent on New Year’s Eve used WeChat’s new feature, which allows users to customize their greetings. Those born in the 1990s are the biggest givers and receivers of WeChat’s digital red packets, followed by those born in the 80s and then the 70s. The busiest time for exchanging New Year wishes in China was between 8:00 PM and 9:00 PM on New Year’s Eve (Monday, February 4). China UnionPay saw 81.3% year-over-year growth in the value of interbank transactions on New Year’s Eve. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Decoding the Future of Retail: Highlights from NextGen Commerce, a Coresight Research ConferenceEnclosed Malls Draw More Shoppers Amid Festive Season: US Consumer Survey Insights 2023, Week 52Three Data Points We’re Watching This Week: US Summer Spending FocusData Dive: The Grocery-Store Categories Where US Shoppers Are Cutting Purchases the Most
