Holiday retail sales up 20%
By Wang Yanlin |
May 2, 2013, Thursday
|
Print Edition
Print Edition
GOLD fever helped the city's retail sales rise by nearly 20 percent during the three-day May Day holiday.
According to the Shanghai Commission of Commerce, retailers in the city reported total sales of 3.37 billion yuan (US$539 million) between Monday and yesterday, up 18.8 percent from the same period of last year.
Sales of jewelry and gold bars soared on the back of falling gold prices and because this is the busy season for weddings.
Sales at jeweler Lao Feng Xiang's Baoshan outlet surged 173 percent compared to last year, while its other outlets and Lao Miao and First Asia reported proceeds doubling.
On average, sales of gold and jewelry jumped 108 percent from a year earlier, leading all other categories.
According to the Shanghai Commission of Commerce, retailers in the city reported total sales of 3.37 billion yuan (US$539 million) between Monday and yesterday, up 18.8 percent from the same period of last year.
Sales of jewelry and gold bars soared on the back of falling gold prices and because this is the busy season for weddings.
Sales at jeweler Lao Feng Xiang's Baoshan outlet surged 173 percent compared to last year, while its other outlets and Lao Miao and First Asia reported proceeds doubling.
On average, sales of gold and jewelry jumped 108 percent from a year earlier, leading all other categories.
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