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2013 Chinese New Year sales: Qingdao

 Photo: Spring Festival promotion at children’s corner in Marina City, Qingdao.
 Spring Festival promotion at children’s corner in Marina City, Qingdao.
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.

Overall, shopping centres in Qingdao reported steady, modest growth in sales.

1. Sales of garment, shoes, jewellery, cosmetics, children's goods, spring festival merchandise and food showed a more significant increase. Gifts, sports goods, electronic products, home products and bags basically kept the sales level of the same period last year. Sales growth of daily commodities has slowed down markedly due to easy online price comparison on e-commerce platforms.

2. Shopping time is changing. Last year, sales before the Chinese New Year were hot, but cooled down after the festival. In comparison, both shopper traffic and sales during the first week of the lunar new year (Spring Festival holidays) this year were noticeably better than the week before. Shoppers enjoyed shopping leisurely during the holidays. The peak time of sales in the past was 14:00-17:00, and it has moved to 17:00-20:00 this year.

3. Comprehensive shopping malls with restaurants, cinemas and other entertainment facilities were more popular. Average spending per person was higher than ordinary shopping centres. Queues of waiting customers were sighted at popular restaurants such as Din Tai Fung and Honeymoon Dessert.

Sales performance of three large shopping malls:

Shopping mallHisense PlazaMarina CityLiqun Commercial Building
GradeHigh-endMid-rangeMid-low end
Sales hot spotsGarment (especially women's wear), shoes, accessories, jewellery, children's goodsLuxury goods, garment, cosmetics, children's goodsCosmetics, jewellery, garment, shoes, food, home products
Price rangeSupermarket: Rmb10-20,000;
shopping mall: Rmb500-500,000
Supermarket: Rmb10-8,000;
shopping mall: Rmb100-20,000
Supermarket: Rmb10-5,000;
shopping mall: Rmb50-10,000
Average spending per personRmb4,000Rmb700Rmb200
Year-on-year sales growth11%23%2%
Promotion strategyDiscount sales at top brand specialty shops; a 32% across-the-board discount at other shops of the shopping mall. Membership scheme effective in targeting high-end consumers in Qingdao; numerous activities organised for members.

Specialty shops like Zara and H&M offered steep discounts, creating a young atmosphere. Brisk sales at newly opened discount shops of luxury goods. Comprehensive facilities such as cinemas, skating rink, gourmet restaurants attracted large numbers of young consumers, boosting total sales growth.

As an established brand, Liqun has won public reputation through its long years of operation. New year fair created a festive mood. Active participation of brand merchants, coupled with events offering discounts and free gifts. Sales of shopping cards stimulated sales growth.

HKTDC Qingdao Office

Content provided by Picture: HKTDC Research
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