May Day Holiday Drives Consumption Boom

​A customer browses at a beauty store in Shanghai during the May Day holiday. [Photo/IC]

Shanghai's online and offline consumption reached 64.3 billion yuan ($9.41 billion) from April 30 to May 4, up 7.7 percent year-on-year, according to the Shanghai Municipal Commission of Commerce.

During the May Day holiday, more than 300 events were held daily across the city's districts and major commercial areas. These activities coincided with the 2026 "Shopping in China" International Consumption Season (Shanghai) and the 7th Shanghai Shopping Festival.

Offline spending accounted for 36.95 billion yuan of total consumption, up 7.9 percent year-on-year, while online spending reached 27.35 billion yuan, a 7.4 percent increase.

In the 19 city-level commercial districts monitored, consumption totaled 4.39 billion yuan, a year-on-year increase of 9.6 percent. Within this, eight international consumption clusters, including East Nanjing Road, Middle Huaihai Road, and Yuyuan Garden, recorded 2.77 billion yuan in spending, up 24.2 percent year-on-year.

The 2026 Global Taste in Shanghai campaign further boosted dining consumption. Data from Meituan show that the number of dine-in customers at Shanghai restaurants rose by 1.1 percent year-on-year, while dine-in spending increased by 2.5 percent. Among participating restaurants, the number of dine-in customers increased by 14.1 percent, with spending up 17 percent year-on-year.

During the holiday, the Shanghai Shopping Festival focused on encouraging big-ticket purchases, expanding inbound consumption, and making everyday spending more inclusive. Measures such as consumption vouchers, trade-in programs, prize-linked invoices, and departure tax refund policies delivered multiple benefits to both residents and visitors.