China mooncake sales plunge amid shifting consumer habits

The Mid-Autumn Festival is seeing a significant shift in consumer behavior in China, marked by a sharp decline in traditional mooncake sales. Market data indicates that major store sales have dropped by over 45%, with luxury gift box volumes nearly halved. High-end gift boxes priced above 500 yuan have seen their market share plummet to less than 2%.

This slump is driven by an ongoing economic slowdown and changing consumer preferences. Shoppers are increasingly rejecting expensive, over-packaged luxury items in favor of budget-friendly options for personal consumption. Recent surveys show that 50.4% of consumers now purchase mooncakes for personal use, surpassing the 42.5% who buy them for gifting.

This trend toward 'rational consumption' has led to a rise in DIY gifting, where individuals purchase high-quality empty boxes online and fill them with affordable loose mooncakes to save money. The decline in traditional demand is also impacting manufacturers and retailers, as the era of high-premium festive packaging faces a significant contraction.