China sees surging sales of ‘romantic’ goods, services on May 20 as young people express love

An oversized love heart is seen at a shopping mall on Dongdajie street in Xi’an, Northwest China’s Shaanxi Province on May 16, 2023, creating a festive atmosphere for the upcoming “520”, Network Valentine’s Day, as 520 is pronounced close to ” I love you” in Chinese. Photo: IC

Chinese spending on “romantic goods and services” including hotels, wedding services, going to cinemas and other services surged on Saturday, marking “520”—identical to Valentine’s Day in the country.

Experts noted the booming “sweet consumption” reflected the nation’s continuous recovery of retail sales, following the just-concluded May Day holidays.

The pronunciation of “520” sounds similar to “I love you” in Chinese, and the day has become as a romantic date for young people expressing love, boosting sales of related products and services.

“I had to wait for two hours for a meal at a restaurant in Xidan, Beijing’s Xicheng district on Saturday”, a Beijing-based white-collar worker told the Global Times on Sunday, adding that flower bouquets were selling well.

China reported a new box office record for Saturday with the single-day earnings surpassing 313 million yuan ($44.67 million), exceeding the 300 million yuan mark generated on the same day in 2018, the Xinhua News Agency reported.

As “520” has become a popular date for couples to tie the knot, Lin Xinglin, a photographer said that she would shoot two couples for their registration photos, and the date has been booked three months earlier, according to a report by China Media Group. The report noted that the hotel bookings for Saturday surged 400 percent compared with the same period in 2019.

Meanwhile, e-commerce platforms saw rising sales. The number of consumers searching and shopping for “520” items from May 12 to May 20 increased 1.4 times year-on-year on Douyin’s e-commerce platform, with the sales of perfume increasing 186 percent year-on-year and a 143 percent increase for lipstick, caijing.com reported.

In addition for couples gifting presents to each other, single consumers also enjoy purchasing gifts for themselves or close friends and family, with more than 90 percent surveyed netizens expressed their willingness to spend on cosmetics, digital products and jew elry, according to the data published by iiMedia Research on Saturday.

Amid China’s consumer spending continuing to rebound from the first quarter of 2023, consumption across “520” picked up the momentum following the recent May Day holidays, Zhang Yi, CEO of iiMedia Research Institute told the Global Times on Sunday.

Global Times