Retailers make good money, but need more attractions

Retailers enjoyed good harvest out of the spending spree during the Spring Festival but are also urged to offer something new to consumers.

According to China General Chamber of Commerce, some 100 major retailers in China achieved 12.65 percent sales increase during the seven-day holiday this year. The growth is 0.5 percentage points slower than the last Lunar New Year holiday.

Of the 100 retailers 77 saw their sales increase compared with last Spring Festival. 30 of the 100 top retailers saw their sales up at least 20 percent. Sales of the leading 10 retailers totaled 1.6 billion yuan, representing an average increase of 18.78 percent for each.

However, although shoppers found they were in better environment and atmosphere, they did not find enough uniqueness. Retailers are supposed to offer something special beyond marketing gimmicks to cater for holiday shoppers.

News from China UnionPay says that 34 million cross-bankcard deals were made during the seven-day Chinese New Year holiday. That is 1.35 times as many as last Spring Festival. The deals value 11.8 billion yuan, 1.46 times as much as that in last Spring Festival.

China UnionPay says the rising figures of deals indicate the rising number of consumers for either tourism or shopping.

By People's Daily Online