Time for shopping again! Latest brands, coupons and festivals for shoppers
The annual shopping bonanza, the Shanghai Double Five Shopping Festival, kicked off on Saturday.
A major initiative raised in 2020 during the Consumption Promotion year put forward by the Ministry of Commerce, Shanghai seeks to revitalize demand and attract more investment through a combination of cultural attractions, tourism, shopping and exhibitions.
Shanghai Vice Mayor Hua Yuan announced the latest series of initiatives to encourage retailers and organizers of exhibition, sports event and performances to reinvigorate leisure spending.
"We will continues to enhance the globalization level and leverage Shanghai's advantage as a major hub to connect domestic and overseas resources," he said.
The city will pursue high-level opening-up measures and encourage debut stores, new brand launches and attract more investment, and will enhance the attractiveness of major sports events and performances, he added.
Accessible facilities, as well as consumer friendly measures will be put in place at major business districts and shopping areas.
Subsidies and incentives have been put in place to reinvigorate leisure spending.
Amid the city's latest efforts to improve payment services for foreigners, especially for cash spending at multiple scenarios and occasions, more measures have been announced.
As many as 98 percent of ATM machines in the city will be able to handle cash withdrawals with overseas bankcards. ATMs offer small bills which can be used cover major retail, tourism and transportation scenarios.
Up to 80,000 POS machines that are capable of handling transaction for overseas bankcards will be available by the year end, up from around 45,000 machines by the end of last year.
As many as 650,000 small change wallets to facilitate cash spending for inbound travelers will be available by the end of this year at major destinations including taxi, major transportation hubs, tourism spots and leisure and entertainment venues.
Quality items for sale.
A total of 15 signature festive activities such as coffee bazaars, gourmet festivals and night life festivals will take place during the shopping festival through June.
Leading digital platforms, and retailers pledged incentives and latest product offerings to boost spending through both virtual and physical channels.
L'Oréal Pro's Air Light Pro hair dryer which is a collaboration between the French beauty giant and local tech appliance maker Zuvi Tech, will make its global debut at the Shanghai flagship store next month.
Metro's latest home brands target simple meals and ready-to-heat product lines have been embraced by shoppers as the "Happy Dining" series hit shelves earlier this month.
Nearly 30 types of bakeries, breakfast items and Chinese style desserts are also among its latest offerings. Currently about 70 percent of its merchandise are home brands as it responds to shoppers demand for convenience and high quality of fresh food and groceries.
2024 is the year of consumption.
As many as 5 billion yuan (US$685 million) digital coupons at Meituan cover lifestyle service, restaurants and entertainment venues.
Dianping's English version application also offers guidance for overseas visitors for street bazaars and trendy dining spots.
Pinduoduo will also host a dedicated new product launch section in addition to 4.5 billion yuan of subsidies, as it pledged more discounts from last year for both local and nationwide consumers.
In addition to Ele.me's 3 billion yuan digital coupons and up to 50 percent discount for consumers, it is also hosting a series of promotional activities for local groceries, as well as retailers to help them woo local residents and travelers.
Tmall's physical appliance store in the city has offered additional subsidies for shoppers to upgrade to the latest smart gadgets and energy-saving home electronics.
Foot traffic has increased 60 percent during weekends from normal days since the extra discounts went into effect at the end of March.
Alipay is distributing as many as 1 billion yuan of digital coupons that cover not only online consumption but also transportation, retail, travel and leisure spending.
Ready-to-heat product lines are popular.
