1 March 2013
2013 Chinese New Year sales: Beijing
|Festive mood at Ditan Park Temple Fair, Beijing. (Photo courtesy of Xinhua News Agency)|
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:
HKTDC Beijing Office