23 Feb 2017
2017 Chinese New Year Sales: Fuzhou
Over this year’s Spring Festival period, Fuzhou’s shopping centres experienced decidedly mixed fortunes. While the city’s upmarket and low-end malls enjoyed a 10% year-on-year rise in takings, many of its mid-range malls saw their sales decline.
Overall, figures from the Ministry of Commerce showed that, from New Year's Eve to the sixth day of the Chinese New Year (27 January-2 February 2017), the total takings of retail and catering enterprises across the mainland exceeded RMB840 billion, up 11.4% over the same period last year. Traditional New Year goods, eco-friendly food, seasonal clothing, gold and silver ornaments, smart energy-saving home appliances and several new digital products were among the best-selling items for 2017.
As part of the survey, staff at the HKTDC's mainland offices - Beijing, Dalian, Qingdao, Xi’an, Shanghai, Hangzhou, Nanjing, Wuhan, Chongqing, Chengdu, Guangzhou, Fuzhou and Shenzhen - selected a number of representative local shopping centres and monitored their performance before, during and after the Chinese New Year sales period in order to ascertain just how their respective local consumer markets fared this year.
In order to get an overview of consumer spending patterns in Fuzhou during the Spring Festival period, HKTDC’s Fuzhou Office monitored three shopping centres. The findings of its survey are summarised below:
Top-selling items (top 10)
Jewellery, gold ornaments, branded ladies’ wear, branded men’s wear, branded children’s wear, luggage, men’s footwear, women’s footwear, underwear, accessories, perfume
Jewellery, branded cosmetics, branded ladies’ winter wear, lingerie, branded men’s winter wear, branded ladies’ spring wear, branded ladies’ autumn / winter footwear, sportswear, sports shoes, sporting equipment, outdoor sporting goods
Live and fresh produce, dried food, gifts, household goods, garments (low to medium- range chain store brands), kitchenware, home appliances, children’s toys, luggage
New top-sellers (RMB)
Average spend per customer (RMB)
Year-on-year % change in total retail sales
The area where the plaza is located has not been affected by the urban construction work in progress in Fuzhou. Instead, the plaza benefitted from a diverted customer flow from other commercial districts.
Economic recovery in 2016 fell short of expectations and the economic growth of the country continued to slow steadily. Against this backdrop, sales in the department store sector remained at low level, with the whole sector undergoing a period of consolidation, reinvention, adjustment and transformation. The Dongjiekou commercial district, the site of the company’s flagship, was also affected by the construction of the city’s metro line.
Increased revenue due to:
Price hikes induced by the holiday effect were somewhat moderated by offering products sourced directly from place of production and from overseas.
Online vs in-store sales
No online activity.
No online activity.
In a move intended to integrate online and offline sales, the Yonghui supermakets in 12 cities linked up with JD Daojia, China's largest online direct sales company. Yonghui has also launched a home delivery service in Chongqing, Shanghai, Beijing and Fujian, with e-payments also accepted.
Online sales data
Yonghui’s WeChat store registered a 13.2% year-on-year growth in sales.