Shanghai鈥檚 holiday retail sales rise 10.7%
Print Edition
SHANGHAI’S retail sales expanded 10.7 percent from a year earlier during the three-day Labor Day holiday, faster than the 5.5-percent rise during the Spring Festival, thanks to good weather and retailers’ aggressive marketing, the Shanghai Commission of Commerce said yesterday.
Consumers spent 3.29 billion yuan (US$534.9 million) during the holiday, with many stores cooperating with online shoppers to promote products.
Retailers employed novel marketing tools like WeChat, QR code (Quick Response code), Weibo to get interactive with consumers who were also rewarded by using credit cards, said Chen Yuxian, an official with the commission.
Retail sales peaked early on May 1 when consumer spending jumped 18.2 percent year on year. Sales only edged up 0.2 percent on May 3.
The sales received a boost because consumers had more places to shop in Shanghai. River Mall, the former main entrance to the World Expo site and now a four-story shopping and entertainment center, received 500,000 visitors during the three-day holiday who spent 12.5 million yuan on retail sales.
A recent episode featuring Shanghai’s snacks on a CCTV documentary on delicious Chinese food helped to boost the income of several time-honored restaurants in Yu Garden, one of the renowned attractions. These restaurants boosted their proceeds by nearly 20 percent.
But sales of gold jewelry and books both contracted by more than 20 percent, according to the commission.
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