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Sales promotions common amid intense rivalry among retailers
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Competition between online vendors and traditional retailers continue to deepen, with each of them launching endless sales promotions this autumn, but consumers may not be so enthusiastic or willing to part with their money.
France-based Printemps Department Store will launch its annual overnight discount sales in its 10 Shanghai outlets tomorrow. This year, customers can expect the sales to start earlier and to run from five days to six days.
Besides the usual up to 70 percent discount for all products, the stores will give iPad mini 2 to consumers who spend 5,880 yuan (US$965) on selected brands during the first half hour (12am-12:30am) of the event each day as well as gold-colored iPhone 5S to those who spend 11,880 yuan.
Other department stores are also likely to offer deep discounts toward the year-end to lure back consumers who have flocked to the Internet for bargains.
“Physical stores are stepping up their efforts to fend off competition from the online shops,” said Xue Jun, an analyst at CITIC Securities Co. “So far, offering discounts seems to be a major strategy.”
Domestic online vendors reaped a bonanza during the 24-hour online shopping spree on November 11, dubbed Singles Day, when consumers spent an astonishing 35.02 billion yuan, easily beating last year’s record of 19.1 billion yuan.
Taobao, China’s largest consumer-oriented shopping site, will launch another campaign on December 12. Other major online retailers, including jd.com and yihaodian.com, have continued their sales campaigns in past weeks.
But customers’ response seems mixed.
Catherine Wang, 32, who works in a public relations firm, said she can’t afford another spending spree because she had spent the equivalent of her salary for three months on clothes, cosmetics, food, a vacuum cleaner, bed and wardrobe on November 11.
But Twinkle Ge, a bride-to-be, said she hopes for such regular sales promotions. “I made a lot of great deals in past weeks and saved some money for my wedding preparation and home decoration,” Ge said.
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