Jiading reports a boom in H1 consumption data
Consumption in Jiading District continued to improve in the first half of 2023, with gross merchandise sales increasing 4.3 percent year on year to 341.6 billion yuan (US$46.8 billion) and total retail sales of consumer goods rising 14.1 percent, according to data released by the district’s statistics bureau.
Notably, the operational income of accommodation and catering firms increased by 23 percent year on year to 3.2 billion yuan, indicating a speedier recovery. Wholesale and retail sales jumped 13.7 percent to 76.32 billion yuan in the first six months.
The catering business is usually the first to feel a rebound in consumer sentiment.
“In the first six months, weekly foot traffic to our restaurant stayed above 4,000 on average,” said Qin Xianpeng of MALUJI, which specializes in Sichuan food and is located in the InCity Mega Mall in Nanxiang. “On weekends, customers frequently wait in line until 1:30pm for lunch and 8pm for dinner.”
Many establishments within the mall, which is a local commercial landmark, performed exceptionally well during this period. Between January and June, mall foot traffic increased by 180 percent to about 28 million, while overall revenues increased by 108 percent to 3.2 billion yuan.
Automobile sales in Jiading more than doubled to 6.24 billion yuan in the first half of this year, buoyed in part by local government subsidies. Across the district, subsidies offered to auto buyers totaled roughly 610 million yuan for the 12-month period ending in June.
Suning’s outlet at Jiading’s Wanda Plaza saw a 50-percent increase in foot traffic during the first six months, with 70 percent of its customers benefiting from the city government’s subsidy campaign for the purchase of green and smart home appliances.