China Consumer Sentiment Study

How Consumers Reacted to JD’s Entry into the Delivery Market

In March, consumers' incomes fell back, dining out stabilized, and the Qingming holiday drove travel, entertainment, and sports spending. This month’s China Consumer Sentiment Study highlights March performance, the impact of the Qingming holiday, and awareness and penetration related to JD’s entry into the delivery market.

Highlights:

• Net growth in household incomes has fallen back, with lower-tier households less well off.

• The share of reduced dining out was slightly lower due to the Qingming holiday.

• Qingming holiday boosted spending expectations for travel, entertainment, and sports. There was less benefit for dining out.

• Consumers in lower-tier cities were more willing to spend in most categories.