Online consumption in Shanghai spikes during New Year holiday

Online consumption in Shanghai experienced a significant recovery during the New Year holiday, according to latest sales data by the Consumer Market Big Data Laboratory (Shanghai).

A report released by the laboratory shows that online shoppers spent 10.98 billion yuan ($1.59 billion) on Dec 31 and Jan 1, a year-on-year growth of 43.7 percent.

During the same period, brick-and-mortar stores across the city generated 12 billion yuan in sales revenue, an increase 5.6 percent from the previous two days.

The report also noted that there was an 80 percent spike in foot traffic at major commercial complexes in the city on Dec 31 and Jan 1 compared with the previous two days.