Shoppers spend heavily to boost Shanghai's retail sales
By Ding Yining |
January 4, 2010, Monday
|
Print Edition
Print Edition
RETAIL sales in Shanghai climbed over 1.5 billion yuan (US$220 million) on the last day of 2009 and the first day of the New Year as retailers offered hefty discounts and coupons to spur holiday spending.
Sales in 100 retail stores in the city's eight downtown districts and the Pudong New Area during the two days jumped 37.6 percent from a year ago to total 1.507 billion yuan, according to the Shanghai Commerce Commission.
Most department stores and shopping centers in the downtown areas, including Nanjing Road E., Huaihai Road, the Xujiahui commercial area and Superbrand Mall in Pudong, extended their business hours overnight on New Year's Eve and offered shoppers unprecedented price discounts to lure last-minute shopping.
The commission will release the overall sales statistics for the three-day holiday today.
Shanghai is likely to see the sales revenue for the whole of 2009 exceed 517 billion yuan, a 14 percent rise from 2008 and expected to be better than its original target set at the start of last year.
Shoppers spent 967 million yuan, a surge of 53.5 percent, on the last day of December - New Year's Eve - while retail sales climbed 16 percent from a year ago to 540 million yuan on Friday, New Year's Day.
Department stores took the biggest bite of the shopping spree when their tills collected 943 million yuan during the two days, or 62.6 percent out of the total volume.
Next Age Department Store was No. 1 with 382.8 million yuan in sales revenue in the two days while New World Department Store on Nanjing Road E. Pedestrian Mall and Oriental Shopping Center in Xujiahui came in second and third.
Retail sales in the city grew 13.8 percent year on year in November, according to official data.
Sales in 100 retail stores in the city's eight downtown districts and the Pudong New Area during the two days jumped 37.6 percent from a year ago to total 1.507 billion yuan, according to the Shanghai Commerce Commission.
Most department stores and shopping centers in the downtown areas, including Nanjing Road E., Huaihai Road, the Xujiahui commercial area and Superbrand Mall in Pudong, extended their business hours overnight on New Year's Eve and offered shoppers unprecedented price discounts to lure last-minute shopping.
The commission will release the overall sales statistics for the three-day holiday today.
Shanghai is likely to see the sales revenue for the whole of 2009 exceed 517 billion yuan, a 14 percent rise from 2008 and expected to be better than its original target set at the start of last year.
Shoppers spent 967 million yuan, a surge of 53.5 percent, on the last day of December - New Year's Eve - while retail sales climbed 16 percent from a year ago to 540 million yuan on Friday, New Year's Day.
Department stores took the biggest bite of the shopping spree when their tills collected 943 million yuan during the two days, or 62.6 percent out of the total volume.
Next Age Department Store was No. 1 with 382.8 million yuan in sales revenue in the two days while New World Department Store on Nanjing Road E. Pedestrian Mall and Oriental Shopping Center in Xujiahui came in second and third.
Retail sales in the city grew 13.8 percent year on year in November, according to official data.
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