Shops report only modest sales growth
Print Edition
Shopping remained a popular pastime for Shanghai consumers over the Spring Festival holiday, though growth in retail sales was slower than in previous years, the Shanghai Commission of Commerce said yesterday.
Consumers spent 6.1 billion yuan (US$975.3 million) in the city’s stores between February 18, the Chinese New Year’s Eve, and yesterday, an increase of 5.7 percent from the same period of last year. The retail sales during last year’s Spring Festival break rose 5.5 percent year on year.
In the 14 days from February 11, retail sales rose 12.6 percent year on year to 14.9 billion yuan, compared with an 8.8 percent increase during the same period a year ago, according to the commission.
The cold and wet weather, the crackdown on extravagance and an increase in the number of people leaving the city over the holiday were the main reasons for this year’s modest sales growth, said Hao Jie, an official with the commission.
“Supermarkets saw fewer visitors, while the growth in sales at department stores was marginal,” he said.
“In contrast, online shops and service providers said their revenues surged over the holiday,” Hao said.
According to the commission, some online vegetable and fruit shops said their sales rose by more than 70 percent during the festival, while the 13 outlets selling food imported through the pilot free trade zone also reported robust figures.
In the entertainment sector, box office revenue at the city’s cinemas rose 20 percent over the holiday, while takings at beauty salons and gyms more than doubled, the commission said, without elaborating.
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