16 March 2016
2016 Chinese New Year Sales: Xi’an
According to the official figures for the Spring Festival golden week period, retailers in Xi’an achieved a combined sales turnover of around Rmb13.22 billion, up 10.7% over the same period last year.
Figures from the Ministry of Commerce show that, from New Year's Eve to the sixth day of the Chinese New Year (7-13 February 2016), the total takings of retail and catering enterprises nationwide was more than Rmb754 billion, up 11.2% over the Spring Festival golden week last year. While a number of new sectors achieved impressive results, traditional New Year’s goods; mass market dining; cultural, sporting and entertainment activities; tourism and leisure activities also fared well throughout the festive spending period.
Staff at the HKTDC's mainland offices (Beijing, Dalian, Qingdao, Xi’an, Shanghai, Hangzhou, Nanjing, Wuhan, Chongqing, Chengdu, Guangzhou, Fuzhou and Shenzhen) made visits to a number of high-end, mid-high end and mid-range shopping centres in their respective cities before, during and after the Chinese New Year in order to ascertain just how the consumer market performed this year.
In terms of spending patterns and retail strategy, a number of clear trends were apparent in Xi’an throughout the Spring Festival period.
Overall, stores were well-stocked, spending was wide-ranging and a number of clear sales hotspots emerged, giving the city a notably prosperous feel. According to the official figures, this year’s Spring Festival saw Xi’an’s retailers record a collective turnover of around Rmb13.22 billion, up 10.7% over the same period last year. Most notably, sales of daily necessities grew 10.5% year-on-year to Rmb12.21 billion, while total restaurant receipts rose 12.9% year-on-year to around Rmb1.01 billion.
As the Spring Festival holiday is traditionally the peak season for shopping, Xi’an’s retailers had been careful to stock up on the latest high-quality merchandise, especially those that were new to the market or from famous brand names. Many of these retailers also undertook a wide range of promotional activities in order to stimulate spending. In many of the major malls, including Kaiyuan, Minsun, Wanda, New World and Century Ginwa, as well as the larger supermarkets, such as CR Vanguard and RenRenLe, average daily customer traffic was more than twice that typically seen on a normal trading day. In terms of year-on-year comparison, sales growth was 11.84% for Minsun, 8.05% for the Intime Department Store (Bell Tower store), 20.58% for the Songlin supermarket, and 5.58% for the Metro supermarket.
Overall, the most in demand items over the festive period were garments, jewellery, accessories and digital products. Many shoppers were also keen to purchase tobacco, liquor, candies, tea leaves, health food gift packs and cosmetics.
In more specific terms, garment sales grew by 20%, jewellery by more than 15% and cosmetics by almost 20%. While supermarket gift packs, green food and premium vegetables were particularly popular, sales of tobacco, liquor, candies, dried fruits, meats and beverages were also brisk. Significant sales growth was also achieved in the telecoms, digital equipment and electronic products sectors. Tellingly, sales at Xi’an’s Gome and Suning outlets surged by 56.45% and 28.71% year-on-year respectively.
Yoyo Yu, Xi’an Office