Sales during shopping fest rise 10.1%
Print Edition
SALES during the monthlong Shanghai Shopping Festival recorded a new high as consumers took advantage of the good weather and the innovative efforts of shops to spend more.
The 6,200 outlets of the city’s 480 retailers that were tracked by the Shanghai Commission of Commerce generated sales of 30 billion yuan (US$4.89 billion) during the festival, a jump of 10.1 percent from a year earlier. The rise compared with Shanghai’s retail sales growth of 8.4 percent in the first eight months, and was nearly level with the 10.4 percent registered during the weeklong National Day holiday.
“The good weather in the past month is no doubt a contribution,” said an official surnamed Chen with the commission. “But more importantly, local retailers use all kinds of new technologies to get closer to consumers.”
Chen added that a lot of online-to-offline promotions offered by shopping malls “are all covered by Wi-Fi, and you can see QR codes everywhere to entice consumers.”
The commission said shopping malls led other retailers, such as supermarkets and convenience stores, in generating a 18.6 percent rise in revenues.
Department stores and other retail outlets on Nanjing Road E. saw their revenues surpass 900 million yuan during the festival which concluded yesterday.
Car sales surged 38.7 percent from a year ago in the festival, while those of jewelry and products for kids soared 38.2 percent and 11.5 percent respectively.
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