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2013 Chinese New Year sales: Beijing

 Photo: Festive mood at Ditan Park Temple Fair, Beijing. (Courtesy of Xinhua News Agency)
 Festive mood at Ditan Park Temple Fair, Beijing. (Photo courtesy of Xinhua News Agency)
HKTDC's 11 mainland offices, namely in Beijing, Dalian, Qingdao, Xi'an, 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.

The main features of Beijing shopping malls during the festival period were as follows:

1. Festival spurred brisk sales of gold and jewellery products. New year-themed gold items sold well, investment gold bars remained hot-sellers, and sentimental consumption effect was apparent.

2. Business at key commercial districts and mega shopping malls (with annual sales in excess of Rmb100 million) was steady. These mega shopping malls and department stores actively rolled out themed promotions in an all-out effort to grab market shares.

3. Consumption was feverish at established restaurants large and small. Meanwhile, without much fanfare, a "takeaway economy", which refers to the buying of takeaway signature dishes from various established restaurants, emerged as a fashionable way of enjoying classic gourmet food and having a minimalist CNY.

4. Unlike previous years, besides beefing up promotions in their physical stores, quite a number of traditional retailers had launched their own e-tailing platforms. By using this two-pronged strategy, they were able to compete with e-merchants and increase sales.

As the courier industry basically suspended its operations during the CNY holidays, the traditional retailing sector faced less competition from e-merchants. Therefore, in 2012, unlike other festive periods such as the National Day holidays, e-merchants always had an upper hand over traditional retailers in terms of both publicity and sales performance. The Spring Festival market this year gave traditional retailers a rare respite and a chance to fight back.

Sales performance of shopping malls of different grades:

Shopping mallShin Kong PlaceZhongyou Department StoreGanjiakou Department Store
GradeHigh-endMid-rangeLow-end
Sales hot spots (Top 10)Garment, jewellery, cosmetics, watches, shoes, food, home products, electrical appliances, electronic products, children's productsGarment, jewellery, health products, cosmetics, electronic products, watches, shoes, home products, electrical appliances, food (in descending order)Jewellery, cosmetics, food, watches, shoes, small electrical appliances, home textiles, electronic products, home products, etc
Price rangeGarment and accessories around Rmb5,000 - 6,000Garment and accessories around Rmb1,000Around Rmb500
Average spending per personAround Rmb6,000Around Rmb1,000Around Rmb600
Year-on-year sales growthNot disclosedAround 30%Not disclosed
Promotion strategyBonus points gift redemption for card holders and gifts for bank card usage were rolled out successively; Year of the Snake limited edition items were offered by various brands; discounts for fall/winter collections of men's wear, children's wear and leisure wear were offeredDiscounts for famous branded items, gifts upon purchase, gifts for solving lantern riddles; store anniversary also celebrated online at its official website (www.my-le.com)Wheel of fortune lottery; gift upon purchase reaching specified amount.
Gift upon purchase using Mystore (a smartphone portal) membership card in the building: Rmb10 and Rmb20 shopping coupons were offered for purchases reaching Rmb200 and Rmb400 respectively
New categories of hot selling productsYear of the Snake-themed jewellery.Sportswear with Chinese favour.
Snakeskin patterned collection launched by Adidas Originals for the first time. The intricate pattern of snakeskin and the red and black CNY colours made the two-side wearable jacket an indispensable item for the CNY.
None.

HKTDC Beijing Office

Content provided by Picture: HKTDC Research
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