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Home is where the profits are
By Gao Liangliang and Yun Yun |
May 30, 2009, Saturday
|
Print Edition
Print Edition
MINHANG District's home decoration market has been heating up this month, according to the Minhang Economics and Trade Commission.
During the May Day holiday, three large-scale decoration retailers in Minhang reached a total sales volume of 9.95 million yuan (US$1.46 million), an unexpected 25 percent increase during the current economic slump compared with the same period last year.
The market heat is attributed to the good performance of the real estate market. In the first quarter, the trading volume of Minhang's new and pre-owned flats was growing, and the acceleration of relocation projects for Expo urban planning is another big reason.
Promotions in many decoration and interior design stores also contributed to the good performance. Take Home Mart for example. The national home decor chain store has launched a 40 percent off promotion. Its Wuzhong Road outlet has been selling about 2 million yuan worth of products each day this month, a surprising jump of 88.5 percent compared with the same period in previous years.
Shanghai Home Expo of Home Decor, the city's biggest drapery market, explores the market by cooperating with real estate developers, such as Vanke, one of China's biggest property developers. The store makes tailor-made interior design plans for new house buyers and Vanke organizes purchasing groups, so that customers can have more price discounts and guaranteed after-sales service.
The store is expanding its services through cyber space by collaborating with a home decor Website, which organized a purchasing group of 200 netizens to visit the store early this month.
"We offer different discounts to different customer groups, but good quality is the key," said Chen Yiru, the store's deputy manager of marketing.
During the May Day holiday, three large-scale decoration retailers in Minhang reached a total sales volume of 9.95 million yuan (US$1.46 million), an unexpected 25 percent increase during the current economic slump compared with the same period last year.
The market heat is attributed to the good performance of the real estate market. In the first quarter, the trading volume of Minhang's new and pre-owned flats was growing, and the acceleration of relocation projects for Expo urban planning is another big reason.
Promotions in many decoration and interior design stores also contributed to the good performance. Take Home Mart for example. The national home decor chain store has launched a 40 percent off promotion. Its Wuzhong Road outlet has been selling about 2 million yuan worth of products each day this month, a surprising jump of 88.5 percent compared with the same period in previous years.
Shanghai Home Expo of Home Decor, the city's biggest drapery market, explores the market by cooperating with real estate developers, such as Vanke, one of China's biggest property developers. The store makes tailor-made interior design plans for new house buyers and Vanke organizes purchasing groups, so that customers can have more price discounts and guaranteed after-sales service.
The store is expanding its services through cyber space by collaborating with a home decor Website, which organized a purchasing group of 200 netizens to visit the store early this month.
"We offer different discounts to different customer groups, but good quality is the key," said Chen Yiru, the store's deputy manager of marketing.
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