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2014 Chinese New Year sales: Fuzhou

Photo: Spring Festival merchandise on the streets of Fuzhou.(Courtesy of Xinhua News Agency)
Spring Festival merchandise on the streets of Fuzhou.

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.

The following is the sales situation of three stores in Fuzhou:

 

 

 

StoreWanda Plaza Cangshan StoreXinhuadu Department StoreYonghui Superstore
GradeMid- to high-endMid-rangeMid- to low-end
Top-selling itemsBranded men’s and ladies’ winter collections, branded ladies’ spring collections, branded ladies winter shoes, ladies beauty and skin care products, perfumes, Swarovski crystal jewellery, gold and silver jewellery.Jewellery, cosmetics, watches, ladies shoes, ladies’ wear, men’s wear, men’s leisure wear, sportswear, children's clothing, bedding.Meat, seafood, fruit, soft drinks, milk, tobacco, gift items, middle-aged clothing, sporting goods, tea.
Price rangeAbout Rmb 500-50,000About Rmb 400-18,000Rmb 50-1,000
Average spending per customerRmb 875Rmb 685Rmb 69.69
Year-on-year sales change

1.7%
Note: Spring Festival last year coincided with Valentine's Day (the fifth day in the first month of the Lunar calendar) resulted in higher share in overall sales. However, the traditional shopping district (Dongjiekou) affected by development of subway also saw better sales results.

-31.57%
Note: Spring Festival last year coincided with Valentine's Day (the fifth day of the first month in the Lunar calendar) resulted in higher share in overall sales.  Putting aside this factor, overall sales were level.

Overall sales were level.
Promotion tacticsChow Tai Fook gold ornaments workmanship charge waived; up to 70% discount for winter collections; 20% discount for spring collections; lucky draws on the hour with giveaways, 100% chance of winning.Promotions during the Spring Festival  comprised end-season sales and other discounts for  clothing and accessories.Launching promotions along the theme of  “Peace and Success in the Year of the Horse ".
Sales highlights1. Membership marketing, offering gifts to new members to increase membership;
2. Joint marketing with IMAX to allow customers to redeem movie tickets for purchases over Rmb 300;
3. Organising various themed events.
1. VIP membership marketing and customer care, mainly by giving out rebate coupons as membership rewards;
2. Marketing promotion on WeChat and Weibo;
3. Cross-selling with other trades to do resource-sharing interactive marketing. Making use of other platforms to offer coupons and do other promotions;
4. Key suppliers joint marketing to launch major sales for brand products.

1. Cultivating New Year festive atmosphere in stores;
2. Tailor-made store layout, image and product display;
3. Launching health care products, wine etc with deluxe gift packs;
4. Increasing supplies in Chilean cherries, Kuruma prawns, abalones, lobsters and other high-end holiday products; 
5. Pilot testing of its “YH” mobile shopping platform (Yonghui Weidian) APP;
6. Adjusting store hours based on customer flows.

 Allan Zheng, Fuzhou Office

Content provided by Picture: HKTDC Research
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