Entertainment gives sales a boost
Print Edition
ENTERTAINMENT was a major source of Shanghai’s retail sales growth over the Spring Festival holiday, according to the city’s commerce commission.
Cinemas, gyms and travel agencies said their income between January 31 and last Saturday jumped 19.6 percent year on year, compared with a mean figure of 8.2 percent for the sector as a whole.
“People pay more attention to the quality of how they spend the holiday,” said Hao Jie, an official at the commission.
Shanghai citizens spent an average of 2,600 yuan (US$400) each on entertainment during the holiday, the commission said.
Restaurant takings also grew, but not as fast, according to the commission.
Takings on the eve of the Chinese New Year rose 14.5 percent, despite average meal costs falling to 2,661 yuan per table from 3,069 yuan a year ago.
Most department stores and shopping centers said their sales declined due to fierce competition from online sellers.
Parkson Newcore, a mall in Changning District, however, claimed that its income more than doubled during the seven-day festival because it had been renovated and had introduced new lines.
Overall, retail sales grew 8.2 percent in the period, down from 12.6 percent a year earlier.
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