Huatai Securities Reveals Drop in Mid-Autumn Festival Mooncake Sales Amid Economic Uncertainties

Wednesday, 18 September 2024, 10:00

Huatai Securities has reported significant drops in mooncake sales during this year's Mid-Autumn Festival amid economic uncertainties. Sales volume fell about 6%, indicating a worrying trend for national consumption levels. This decline raises questions about consumer confidence and economic stability.
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Huatai Securities Reveals Drop in Mid-Autumn Festival Mooncake Sales Amid Economic Uncertainties

Significant Decrease in Mooncake Sales

Huatai Securities reports that mooncake sales have plummeted during the Mid-Autumn Festival, reflecting broader economic uncertainties affecting consumer behavior.

Decline in Market Numbers

  • Sales volume decreased by 6% to 300,000 tonnes this year.
  • Sales revenue dropped by approximately 9%, totaling 20 billion yuan.
  • The price range of popular mooncakes in Douyin Mall remained low, with top sellers priced below 30 yuan.

Consumer Sentiment and Economic Indicators

The question “why aren't mooncakes selling?” has trended on Weibo, reflecting growing concerns over consumer confidence. Retail stocks for companies like Guangzhou Restaurant and Zhejiang Wufangzhai fell significantly amid these sales declines.

Impact on National Consumption

Amid dwindling sales, Beijing continues to rely on consumption to bolster the economy, which contributed to 60.5% of GDP growth in Q1 this year. Nevertheless, Huatai Securities' findings suggest ongoing challenges in stabilizing consumer trust.

Travel Trends During the Festival

  • Domestic tourism trends indicate reduced travel compared to previous festivals.
  • Flight and hotel prices have also dropped by over 20% ahead of the National Day holiday.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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