Holiday shopping breaks records
Print Edition
AS in previous years, residents flocked to Changning’s shopping malls during the New Year’s holiday, but this time, they reached a little deeper into their pockets.
Retail companies in Changning District reported total sales of 468 million yuan (US$71 million) between January 31 and February 13, a year-on-year jump of more than 20 percent.
It’s the highest number of retail sales among downtown districts in Shanghai.
Cloud Nine Shopping Mall, Bailian Xijiao Shopping Mall, the Place Shopping Center and Shanghai Arch Walk contributed the most to the record-breaking amount. Sales at these four malls reached 306 million yuan during the festive fortnight.
After increasing total floor space, the Place Shopping Center saw retail sales skyrocket by 167 percent compared to the previous year’s holiday shopping season.
Parkson Newcore Shopping Mall saw sales rise by more than 50 percent year-on-year.
Small retail stores also performed well during the Spring Festival. Apita Mart managed to increase sales by more than 50 percent.
An increase in customers also meant better revenues for the food and beverage industry located in malls.
For instance, Ole Food Hall at the Place Shopping Center reported a 100-percent sales jump year-on-year during the 14-day period.
Changning’s Zhongshan Park shopping area has long been known as the go-to place for anything related to electronics. During the Spring Festival, the park's electronics stores saw their total sales hit 45 million yuan.
Kitchen tools and other small electronics were the most popular among buyers.
In addition, more families are choosing to hold their traditional New Year's dinner at restaurants instead of at home.
Six sampled dining companies saw their sales jump by almost 54 percent compared to the previous year’s holiday business.
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