THE year-end shopping spree, one of the hottest New Year celebrations, provided a rich harvest for Shanghai's retailers.
Shops and commercial hubs which had extended business hours and launched discount promotions, experienced strong growth in both customer numbers and sales.
The Next Age Department Store in the Pudong New Area topped the league with sales worth 480 million yuan (US$76 million) on New Year's Eve, the Shanghai Commission of Commerce said yesterday.
During 18 hours of business on Saturday, the shop attracted more than 180,000 customers. Average sales per customer increased 34.3 percent from a year earlier to 2,667 yuan.
To address safety concerns, the shop prolonged its discount sales from one day to three days for the first time. Even so, many bargain hunters still queued outside the store from 5am on Saturday morning to purchase reservation coupons for gold, jewelry and iPads.
In addition to many branded cosmetics and gold products that sold out, costlier goods, such as Rolex watches, were also quick to go.
Store representatives said that although sales were not as high as last year's 550 million yuan, the shop remained confident of a higher sales performance over the three-day spree.
The New World Department Store on Nanjing Road E. took in 292 million yuan during their overnight shopping extravaganza on Saturday.
The Bailian Group said combined sales for its 30 subsidies reported an increase of 77 percent on Saturday including a 90 percent sales surge for its Oriental Shopping Center in Qingpu District, totaling 25 million yuan.
Retailers at Xujiahui commercial hubs offered New Year gift packages valued at 2,000 yuan to shoppers who spent a certain amount. In the period between 9pm and 11pm on Saturday, more than 900 packages were handed out as sales surged 33 percent to more than 20 million yuan.
Super Brand Mall in Pudong extended business hours to 2am yesterday and launched countdown events that helped attract more than 100,000 customers. It rang up 13.2 million yuan in overnight sales.
Consumers were also attracted by up to 50 percent discounts on televisions at home appliance giant Suning which had sales worth 7 million yuan at its Changning District branch.
Source:shanghaidaily.com