Alipay: Southeast Asia dominates Chinese tourists’ transaction volumes during CNY period
Findings from Alipay showed that Chinese tourists had the highest transaction volumes in Southeast Asia during the Chinese New Year period (4 – 10 February).
Alipay shared this additional information based on their study of Chinese consumers’ overseas spending and mobile payment behavior across the 54 markets where Alipay is accepted during the CNY period.
Key findings from Alipay
Nine out of the top 10 countries with the highest transaction volumes were Asian countries, with the exception of Canada which took the tenth spot. Alipay attributed Canada’s ranking to an increased adoption by local merchants and large retailers. The top three countries in Southeast Asia with the highest transaction volumes were Thailand, Malaysia and Singapore.
In general, Alipay’s data showed that both transaction values and volumes experienced robust growth, with Europe emerging as the country with the highest average spending.
In terms of product and outlet categories, Alipay said that Chinese tourists shopped more frequently in department stores and luxury shops in Europe, while those who visited Asian countries preferred pharmaceutical and cosmetic shops, and convenience stores.
These findings reinforce Nielsen and Alipay’s report released last month, which showed that Alipay has brought much value to overseas merchants’ businesses, especially the brick-and-mortar retailers. In particular, 60% of merchants that had adopted Alipay reported a growth in revenue and foot traffic.
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