Knight Frank: Shenzhen holiday consumption sparks market vitality, significant impact on consumption stimulation

Sina Finance News on March 31st, today, Jones Lang LaSalle released the first quarter 2026 Shenzhen retail market report, research shows that the holiday economy injects momentum into domestic demand growth. In the first quarter of 2026, the stock of high-quality shopping centers in Shenzhen remained at 7.937 million square meters. Benefiting from the extended public holidays, the city received a total of 10.5497 million visitors during the 9-day Spring Festival holiday period, an increase of 17.9% compared to the 8-day Spring Festival holiday in 2025; achieving a tourism revenue of 11.845 billion yuan, an increase of 19.8%. Jones Lang LaSalle analysis shows that holiday consumption unleashes market vitality and significantly stimulates consumption. During the same period, the total customer flow in the Futian commercial district in Shenzhen reached 8.45 million, with sales of approximately 770 million yuan, both achieving positive growth year-on-year; Bao'an achieved a significant increase: the customer flow in key commercial districts exceeded 5.5 million, with a year-on-year increase of 32.7%; total sales exceeded 6 billion yuan, a year-on-year increase of 16.4%. With the dual support of customer flow scale and consumption momentum, the overall vacancy rate of high-quality shopping centers in the city remained at 9.1%, the same as the end of the previous year.