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2013 Chinese New Year sales: Wuhan

 Photo: Wuhan: colourful new year celebrations. (Courtesy of Xinhua News Agency)
Photo: Wuhan: colourful new year celebrations. (Courtesy of Xinhua News Agency)
 
 Wuhan: colourful new year celebrations. (Photo courtesy of Xinhua News Agency)
HKTDC's 11 mainland offices, namely in Beijing, Dalian, Qingdao, Xian, Shanghai, Hangzhou, Wuhan, Chengdu, Guangzhou, Fuzhou and Shenzhen, conducted market surveys on high-end, mid-high end and mid-range shopping centres in their cities a week after the Chinese New Year to find out about their festival sales.

Starting in January 2013, large and medium-sized commercial enterprises in Wuhan began to stock up consumer goods covering more than 700 categories with over 22,000 varieties, totalling about Rmb70 billion in value. During the Spring Festival period (from Chinese New Year's eve to the sixth day of the lunar new year), the total retail sales of consumer goods in Wuhan amounted to Rmb4.08 billion, posting a 12.8% year-on-year growth, among which lodging and catering sectors grossed Rmb221 million (+12%). Major local retail enterprises, such as Wushang Group, Zhongnan Commercial (Group) Co, Zhongbai Group, Hanshang Group, Gong Mao, achieved total retail sales of Rmb1.871 billion, up 12.9% year-on-year.

Sales performance of Wuhan’s shopping centres during the week before the Chinese New Year:

Shopping mallWuhan International PlazaWorld Trade PlazaZhongbai Group's Zhongxin Department Store
GradeHigh-endMid-rangeMid-low end
Sales hot spots (Top 10)Jewellery, women's wear, men's wear, watches, leather goodsGold jewellery, women’s wear, men’s wear, leather goodsGold jewellery, Apple Store, women’s wear, men’s wear
Price rangeJewellery: Rmb20,000-100,000;
Women’s wear: Rmb2,000-20,000
Gold jewellery: Rmb5,000-50,000;
Garment: Rmb1,000-10,000
Gold jewellery: Rmb10,000-30,000;
Apple Store: Rmb400-6,000;
Garment: Rmb1,000-4,000
Year-on-year sales growth30%50%32% (on sales turnover of Rmb12 million)
Promotion  strategyFree gift upon purchase of specified amountFree gift upon purchase of specified amount. 30% -50% discount for selected merchandisePromotion display in Jianghan Road pedestrian shopping street. 50%-70% discount for selected apparel items
Sales resultsLuxury brands: purchase of gifts by enterprises; purchase of luxury goods by individuals to reward themselves reached a peak before and after the Chinese New Year as year-end bonuses were distributedChow Tai Fook Jewellery: coincidental timing of falling gold price during Chinese New Year, coupled with promotions such as timely launch of new wedding series and preferential workmanship fee of diamond ringsApple Store: Rmb500,000 (iPhone 5, iPad 4 selling best);
IT: Rmb500,000 (40% off for purchase of two items; 70% off for purchase of five items)

HKTDC Wuhan Office

Content provided by Picture: HKTDC Research
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