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2014 Chinese New Year sales: Chongqing

Photo: A flying horse lantern ushers in the Year of the Horse. (Courtesy of Xinhua News Agency)
A flying horse lantern ushers in the Year of the Horse.

HKTDC's mainland offices, namely in Beijing, Dalian, Qingdao, Xi'an, Shanghai, Hangzhou, Nanjing, Wuhan, Chongqing, Chengdu, Guangzhou, Fuzhou and Shenzhen, made market visits to high-end, mid-high end and mid-range shopping centres in their cities a week after the Chinese New Year to find out how holiday sales have fared this year.

During the 2014 Spring Festival period, as major commercial districts, shopping centres and retail malls ran promotion activities in earnest, Chongqing was steeped in a traditional festival atmosphere and consumer markets were teemed with shoppers and retailers. Figures from Chongqing Commerce Commission reveal that, in the period, total retail sales of main commercial districts and key commercial enterprises grew 13.2% year-on-year to Rmb5.91 billion.

Fashionable clothing and accessories, digital appliances and family cars were consumption hotspots for the festival market. In major commercial districts; promotion activities such as “fashion sales” were held in department stores, “Chinese New Year sales” were organised by outlet malls; in North Paradise Walk, West Paradise Walk and Wanda Plaza, one-stop consumption was the ploy for luring in large numbers of customers.

During the festival holidays Chongqing’s districts and counties devised different gimmicks, capitalised on their respective local specialty sectors and launched various promotion activities to create an atmosphere of festival spending. For example, a large sales fair involving more than 100 shops was held in Jiulongpo District to encourage festival spending. At Chongqing Department Store, customers would receive five levels of gifts depending on their purchase amounts. In addition, for every Rmb50 spent, they were entitled to one lottery scratch card to have the chance of winning a gold ornament for the Year of the Horse or other prizes.

Moreover, with the consumer sector getting increasingly diversified, made-to-order consumption is on the rise. Customised Chinese New Year consumption based on one’s preferences has therefore become a new bright spot in festival spending.

In general, during Spring Festival, consumption spending in Chongqing increased markedly and the increase was significant compared to the same period last year. Yet China’s official anti-extravagance campaign is having a bigger impact on the high-end gift market and liquors market. It should also be noted that e-commerce is dealing a severe blow to the traditional consumer market.

The following is the sales situation of three leading stores:

StoreMetropolitan PlazaLongfor North Paradise WalkNew Century Department Store
GradeHigh-endMid-rangeMid-low end
Top-selling itemsClothing, shoes and bags, jewellery, watches, accessories.Food and beverages were most popular, followed by clothing, shoes and bags.Clothing, food, cosmetics, home appliances, jewellery, shoes and bags, baby and infant products, home textiles.
Price rangeClothing: Rmb5,000-7,000
Shoes and bags: Rmb5,000-7,000
Jewellery: Rmb5,000-80,000
Watches: Rmb5,000-30,000
Accessories: Rmb1,000-5,000
Food and beverages: Rmb100-5,000
Clothing: Rmb1,000-5,000
Shoes & bags: Rmb1,000-5,000
Clothing:
Rmb500-2,000
Food:
Rmb100-800
Shoes and bags:
Rmb500-3,000
Home appliances: Rmb300-5,000
Jewellery:
Rmb1,000-5,000
Average spending per customerRmb5,000Rmb1,000-2,000Rmb800
Sales highlightsLarge display zone staged by Feitian Jewellery.Cafés and dessert shops were the brightest sales spots.

Bargain corner for clothing.

Promotion tacticsCustomers got lucky draw chances and gifts upon purchase of designated amounts.No store-wide promotions, but special sales corners and brand promotion areas were set up.Customers were entitled to different gifts upon purchases of Rmb500, 1,000, 2,000, 3,000 and 4,000 respectively.

Michael Bai, Chongqing Office

Content provided by Picture: HKTDC Research
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