Lunar New Year Market Launches on Commercial Street to Boost Chinatown Businesses

A Lunar New Year market opened on Commercial Street on Saturday, bringing dozens of Chinatown business owners to a block that city officials say has struggled since the pandemic. The weekly market will operate every Friday and Saturday through early March and will culminate in the Chinese New Year parade, organizers said.

The market is focused on restoring foot traffic along a commercial corridor that connects Chinatown with the Financial District. “After the pandemic this block, in particular, what we call Commercial Street has been half dead. We see more than 50 percent of vacancies in this block,” said Francis Christian Chan with San Francisco's Office of Economic & Workforce Development. Organizers emphasized that every vendor at the market is an owner of a Chinatown business, a stipulation designed to concentrate direct economic benefits in the neighborhood.

For locals, the activation matters in practical and symbolic ways. Weekend markets tend to generate immediate sales for small grocers, restaurants, and specialty shops that rely on walk-in traffic, and the timing around Lunar New Year amplifies demand for seasonal food, gifts, and cultural goods. Mill Lei, a Chinatown supermarket owner, said she hoped the event would bring luck and customers: “I hope we can bring the lucky and happiness to everyone.”

Economically, the market addresses two linked problems: reduced pedestrian flows on key retail blocks and a high vacancy rate cited by city staff. Short-term gains come from incremental spending by visitors and spillover visits to nearby storefronts. Over the medium term, sustained weekend activation can raise a block's visibility to weekday office workers and tourists, potentially lowering vacancy pressures and improving rental markets for small, locally owned businesses.

However, one-off markets rarely solve structural challenges alone. Lasting recovery for Commercial Street will depend on a combination of consistent programming, partnerships with property owners, and city policies that lower barriers for neighborhood entrepreneurs. Metrics residents can watch include changes in vacancy signs, weekday and weekend foot-traffic patterns, and whether market vendors convert occasional visitors into repeat customers.

The Commercial Street market also restores a cultural rhythm to the neighborhood during Lunar New Year, offering a visible sign that Chinatown is reasserting its place in the city's economic life. For San Francisco residents, the market is an opportunity to channel holiday spending toward locally owned businesses and to help revive a key link between Chinatown and downtown commerce. If the market sustains steady attendance through early March, it could set a precedent for more frequent activations that balance cultural celebration with measurable economic support for the neighborhood.