Analysts don't expect a quick, broad rebound in spending in the world's second largest economy, as the glee that greeted the abrupt relaxations was tempered with uncertainty for consumers and businesses.
Yet the relaxations are expected to usher in a wave of infections that experts say
"Moving from isolation facility quarantine to home quarantine will not increase retail sales significantly," said Iris Pang, chief economist for greater China at ING. Despite some reports by analytics firms of jumps in bookings of domestic flights and movie tickets, the moves are from low bases and make up a picture that clashes with scenes of empty subway seats at peak hour in major cities such as Beijing and Shanghai.
"Because of the epidemic, we are now using promotions and coupons to attract customers, which actually make us run at a loss," one of the masseurs said.Many businesses also say they were caught on the wrong foot, with an executive of a major hotel chain saying it was "totally unprepared for such a dramatic and drastic reopening".
Sales of items such as cosmetics, wine and spirits are likely to continue to suffer as cautious consumers stay at home in coming months, said Jason Yu, Greater China managing director of consumer research firm Kantar Worldpanel.
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