Factory outlet sales surge in first 4 months
Print Edition
RETAIL sales at big factory outlets in Shanghai surged in the first four months of this year as more consumers became aware of such stores amid rising demand, the Shanghai Commerce Development Research Center said yesterday.
Qingpu Bailian Outlet said its sales in the January-April period soared more than 25 percent from a year earlier. Its monthly revenue has now surpassed 300 million yuan (US$48.3 million), or four times the level when it opened in 2006.
Sales at Florentia Village, another factory outlet in the Pudong New Area, were also bullish despite being opened only in January, according to the center which, however, didn’t give any figures.
“Overall, sales of Shanghai’s factory outlets expanded 49 percent in the first four months” to 1.9 billion yuan due to more of them, said Gu Xiaoyu, an official with the center.
“The growth was much faster than the growth of 6.2 percent in local shopping malls.”
Sales at factory outlets totaled 4 billion yuan last year, the center said. It expects sales to grow to 6 billion yuan this year.
Factory outlets, which cut prices by eliminating the middleman, seeks to lure customers by offering a huge selection from a wide range of brands, including world-famous labels. Many sell out-of-season offerings or overstock. They are still considered a novelty in China.
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