MEITUAN: Nationwide Local Life Services Consumption Grows 25% YoY During 5.1 Holiday

$MEITUAN-W (03690.HK)$ released the consumption data on its platform during the May Day Golden Week holiday. On the first 3 days of the holiday, national consumption of local life services increased by 25% YoY, and national dine-in orders hiked by 73% YoY. Among them, Shanghai ranked first in terms of spending on local life services.

On the tourism front, data showed that tourism orders (including scenic spots, accommodation and transport) in Shanghai grew by more than 76% YoY during the period, with Suzhou, Hangzhou, Ningbo, Jiaxing and Hefei ranking among the top five sources of non-local tourists.