Chinese families celebrating the Spring Festival are expected to increase purchases on fresh food and snacks, especially top-quality, imported goods that will mark the arrival of the Year of the Rat.
According to China Daily, some companies have already started rolling out promotional activities that focus on Spring Festival celebrations, with most offering deals on high-end beverages and food products.
Among the brands that are joining this year's holiday spree is Walmart China. The supermarket giant offers new products on various items in the snacks category such as biscuits. Special wine and liquors are also on this year's list of products expected to make big sales.
While fresh food such as cherries from Chile are expected to sell big during this year's Spring Festival, frozen products are also expected to increase sales, including shrimps, crabs, and other imported sea foods.
Online shopping will still be a big thing in China as it has always been consumption experts said physical stores should expect more activity, especially since consumers during the holidays want to touch and feel the items they will purchase.
Product sales will be boosted during the holidays but traveling will also play a key role in China's economy this year as analysts are expecting a surge in trips among families going to and from Chinese towns to visit loved ones.
It is expected that 2020 will be a more congested year than the previous years. All types of transportation channels are expected to be packed all throughout the holiday season, especially since Spring Festival will overlap with the winter holiday break of university students, Business Insider reported.
From January 10 to February 18, authorities are expecting up to three billion trips. Earlier this week, passengers have already been filling up train and bus stations. Ferries are also packed, as well as airports.
Transportation agencies previously announced that they have prepared accordingly for the mass migration of Chinese families who will be traveling to their hometowns. The same is true for students who will go back home for the winter break.
Despite a surge in tourism and commodities, the lantern and fireworks segments are expected to see further decline this year. Beijing previously stepped up efforts in improving China's air quality and part of the initiative is the banning of fireworks sales.
By the end of 2018, at least 444 Chinese cities have banned the sales of fireworks. Several regions have also limited the sales of lanterns as these could also have an impact on air quality.
