Sheffield BID has highlighted the impact of the Lunar Chinese New Year festival, which took place over the weekend of 1st and 2nd February 2025.
The event, funded in part by Sheffield BID, has significantly boosted local sales and brought vibrant cultural festivities to the city centre.
SUMMARY
Sales impact:
- Total sales increase: Sales over the festival weekend surged by £320,266, marking a 20.9% increase compared to the average of the neighbouring weekends.
- Year-on-Year comparison: In contrast, the equivalent weekend in 2024 saw a modest sales increase of £67.1k (4.3%). This indicates that approximately £253k of the sales increase in 2025 may be attributed directly to the festival.
- Sector highlights: The festival spurred growth across most retail sectors, with the Food & Drink sector experiencing the largest boost, increasing by £125k (15.3%).
Local and regional contributions:
- Local sales: The majority of the sales increase (69.7%) came from residents within the Sheffield district.
- Regional sales: Visitors from outside the district also contributed significantly, accounting for 30.3% of the sales increase.
Sheffield BID is committed to supporting events that not only celebrate cultural diversity but which also drive economic growth. We look forward to continuing our efforts to enhance the vibrancy and prosperity of Sheffield city centre through such impactful initiatives.
Diane Jarvis, Head of Business Operations:
"We are thrilled to see the positive impact of Sheffield's Lunar Chinese New Year festival visitor spending. The significant increase in sales across various sectors, particularly in Food & Drink, highlights the festival's role in driving economic growth and fostering community engagement. It's wonderful to see both local residents and visitors contributing to the vibrancy of Sheffield. We look forward to supporting
Download the visitor spend analysis report:
Photo credits: Tim Dennell
