Retailers enjoy sales boost in the Spring Festival
Residents are busy purchasing goods, while a child picks the decorations such as red lanterns, ox patterns and spring couplets to celebrate the Spring Festival at shopping malls in Jiading District. The shopping bags and shopping centers were all in red, as the color is one of the essential elements during Chinese New Year.
Twenty-seven major retailers in Jiading reported 2.3 billion yuan (US$356 million) of sales from February 4 to 17, which included the Spring Festival, up 22.3 percent from the same period a year ago.
Commercial complexes in the district launched sales promotions during the holiday. Among them, Nanxiang Incity Mega, one of the largest retail developments in Shanghai, outperformed with 166 million yuan of sales in the first half of February, ranking the best overall.
Life Hub@Anting, a commercial complex connected with the Metro Line 11, reported a 16.23 percent year-on-year increase.
The sales of food, clothing, cosmetics, jewelry and other New Year goods were on the rise, particularly sales of gold. Two major gold retailers in Jiading reported more than 10 million yuan in sales in the first half of February, nearly five times that of the previous year.
Seven major catering enterprises in Jiading reported more than 16 million yuan in sales, an increase of 87.1 percent over the same period last year.
Online sales achieved 1.74 billion yuan, a growth of around 5 percent year on year. Cosmetic products and consumer electronics were among the buyers’ favorites.
