Imported goods primed for Double Five buying boost

As an important part of the two-month Double Five Shopping Festival in Shanghai, the 2020 Shanghai Imported Goods Festival was launched on Tuesday and will also last for two months till the end of June.

More than 500 offline stores and over 40 online platforms are actively participating in the shopping carnival, including platforms offering "6+365 days" exhibition and trading services such as Greenland Global Community Trading Hub, Hongqiao Import Commodity Exhibition and Trading Center, Red app, and Ymatou.com; key commercial and trade companies such as Bailian Group and Takashimaya; as well as hypermarkets such as Metro AG and Carrefour.

The third China International Import Expo, to be held in November this year, has so far attracted 1,300 foreign companies signing to participate as exhibitors, covering 75 percent of the overall planned exhibition area, according to Sun Chenghai, deputy director of the China International Import Expo Bureau.

The shopping festival focuses on the CIIE's "turning exhibits to commodities" theme, organizing 55 events related to imported goods, including 39 themed events and 16 National Commodity Week events, during which a series of consumer activities will be held combining "tourism, shopping and entertainment" as well as integrating online and offline services.

For instance, Suning.com, one of the largest retailers in China, launched a joint activity combining its online "cloud import exhibition hall" and offline CIIE experience store, enabling consumers to "embracing the CIIE and shopping around the world" in advance during the shopping event.

The company revealed that a number of overseas brands will join the Suning Global platform during the shopping festival, while more international brands are also in discussion with Suning Global to open official flagship stores on the platform.

The online flagship store of Laox launched an exclusive Double Five Shopping Festival activity zone for Shanghai consumers on Tuesday, offering 50-percent discounts on a variety of goods and some 5.5-yuan special deals for certain products, said Fu Luyong, managing director of Laox China.

Meanwhile, Carrefour China will organize a "global food season" activity in Shanghai, bringing food and beverages imported from 39 countries and regions, including over 3,700 imported food products from nearly 350 brands and more than 200 kinds of imported wine from over 70 brands.

Takashimaya's store in Shanghai also offered its biggest-ever discounts on lots of Japanese specialities such as arts and crafts and Japanese sake on Tuesday, said Komori Tomoaki, president of Takashimaya China.

Chen Yifeng, vice general manager of Shanghai Waigaoqiao International Trading Operation Center Co, said that the company's overall imports and exports posted growth in the first quarter in spite of the COVID-19 outbreak. He also noted that many foreign luxury brands are planning to transfer more new products into the Chinese market.

"The shopping festival is not only stimulating consumption, but also shows the strong spending power of local consumers, giving a signal that Shanghai remains as a big market for various consumer products," Chen said.

Lou Anli, curator of Australian National Emporium, said the store located in Shanghai free trade zone has posted daily sales exceeding 20,000 yuan during the five-day Labor Day holiday, rising sharply compared with the previous week.