In the busy and lively Spring Festival, Wanda Group's Wanda Plaza, movies, hotels, cultural tourism and other consumer formats have achieved comparable sales and passenger flow compared with the Spring Festival in 2023. If you want to put a label on the Spring Festival consumer market in the Year of the Dragon, the most appropriate word is "hot".
During the Spring Festival, a number of Wanda's operating indicators exceeded expectations
During the Spring Festival, Wanda Plaza across the country held a series of marketing activities of "Year in Wanda", the square made full use of resources from different industries, organized activities such as New Year's goods collection, intangible cultural heritage exhibitions, and homecoming job fairs to create a festive atmosphere. Not only that, Wanda Group's Wanda Films, Wanda Hotels, Wanda Cultural Tourism Town and Wanda Resorts and other formats have also ushered in a "good start" in the Spring Festival of the Year of the Dragon.
The box office of the Spring Festival stalls in 2024 is expected to be 8 billion yuan, and the number of moviegoers will exceed 1600 million, the box office, number of people, and number of shows all hit a record high for the Spring Festival. A number of indicators of Wanda's Spring Festival file hit a record high in the same period, including 22.36 million moviegoers, an increase of 28% year-on-year in 2023; Box office revenue 12200 million yuan, an increase of 16 percent year-on-year in 20234%。Wanda Cinemas occupies 7 seats in the top 10 cinemas and 69 seats in the top 100 cinemas in the country.
During the Spring Festival, domestic tourism, outbound tourism, and inbound tourism blossomed in many places, and the year-on-year growth has exceeded the level of the same period in 2019; Ticket orders for domestic scenic spots increased by 60% year-on-year, and ticket orders for overseas scenic spots increased by more than 130% compared with 2019.
During the Spring Festival holiday, Wanda Hotel held rich New Year's festival activities such as Xuanhe Family Banquet and Xuanhe Wanji, and the revenue of comparable hotels increased significantly year-on-year, and the hotel room revenue and average occupancy rate were higher than the same period last year. For example, Changbaishan Wanda International Resort has created a strong festive atmosphere with festival activities such as the Year of the Dragon Parade and the "Dragon" Road First Slide Ceremony, and has received more than 50,000 tourists during the Spring Festival, a year-on-year increase of 225%, with a significant year-on-year increase in revenue; Danzhai Wanda Town received a total of 22 tourists during the Spring Festival660,000 person-times, a year-on-year increase of 13655%；On the fourth day of the Lunar New Year, it achieved a new record of more than 40 million tourists since its opening.
To stimulate consumption in 2024, Wanda will make efforts to attract traffic and promote efficiency
Wanda Commercial has made efforts to attract a huge number of customers through multiple ends, and at the same time integrated culture and commerce in a diversified way, constantly creating a new engine for consumption growth, which further stimulated the consumption momentum of the urban market.
Combined with the latest consumer demand trends, Wanda Plaza launched interesting activities such as New Year's photos and viewing intangible cultural heritage folk customs during the Spring Festival, providing consumers with a more ceremonial and lively Spring Festival. Wanda Changbaishan International Resort arranged check-in World Snow House, paragliding, snow frisbee, ice fishing and other projects, and launched a limited activity to receive blessing cards, attracting many tourists.
Not only that, Wanda Films has launched new IP co-branded products such as "Classic of Mountains and Seas" and "Milk Dragon" with the theme of the Year of the Dragon, and Shanghai Wujiaochang Wanda Cinema has joined hands with the street to create a red-themed cinema, providing consumers with an entertainment consumption experience full of New Year's flavor. Wanda hotels across the country provide "Xuanhe Family Banquet", allowing consumers to enjoy a delicious and worry-free Chinese New Year's Eve meal. Wanda Baby took advantage of its own IP to launch a wealth of parent-child activities during the Spring Festival.
Wanda's "New Year in Wanda" marketing linkage online and offline, carried out special live broadcasts of New Year's goods, AI New Year's greetings and other communication activities to promote interaction across the platform. Consumers can also get a variety of benefits in the live broadcast room, such as Wanda Cinema Super Value Movie Coupons, Wanda Hotel Super Value Accommodation Coupons, Wanda Baby King Paradise Games**, etc.
Wanda Commercial continues to iterate and upgrade
Under the long-termism-driven business philosophy, Wanda vigorously promotes the asset-light strategy. We have always adhered to the long-term principle and have become a long-term and long-lived company. Adhering to the principle of not making quick money, Wanda Plaza, which has broken away from heavy assets, has taken advantage of the east wind of light assets, and the opening speed has increased by leaps and bounds, and 498 Wanda Plazas have blossomed all over the country.
Wanda Plaza is also closely following the changes in the consumer market, consumer groups and consumer demand, and continues to iterate and innovate in the business combination and business model, and launches the first Wanda Plaza. Under the dividends of the Internet era, Wanda has integrated more digital thinking and created the most popular shopping scene for young consumers in the Z generation.
Wanda's fiery market performance is a microcosm of China's consumption during the Spring Festival in the Year of the Dragon, and it is also an important observation window for expanding domestic demand and promoting consumption in 2024.