HKMB Hong Kong Means Business

Hong Kong Means Business Hong Kong Means Business
  • Login / Register

Languages

  • EN
  • 繁
  • 简
  • Events
  • My Feed
  • Contact HKTDC
  • Subscribe
  • Subscribe

Section Menu

  • Market Opportunities
  • Tech & Innovation
  • Entrepreneurship
  • Sustainability
  • Creativity & Lifestyle
  • HKTDC Updates
  • Featured Topics

Languages

  • EN
  • 繁
  • 简
  • HKTDC.com |
  • About HKTDC |
  • My HKTDC |
  • Login / Register |

HKTDC.com About HKTDC My HKTDC

Login Register

Hong Kong Means Business

Section Menu

  • Market Opportunities
  • Tech & Innovation
  • Entrepreneurship
  • Sustainability
  • Creativity & Lifestyle
  • HKTDC Updates
  • Featured Topics

https://hkmb.hktdc.com/en/1X0A5ER3

hktdc research
SAVE FOR LATER
SHARE / SEND

"Scan QR Code" in WeChat and tap "..." to share.

2016 Chinese New Year Sales: Beijing

08 March 2016

According to a Beijing Municipal Statistics Bureau survey of local urban and rural residents, traditional spending patterns dominated at this year’s Spring Festival. Conventional business models, however, suffered as consumers funneled much of their spending through e-commerce.

Photo: Packed with CNY visitors: The Imperial Palace. (Xinhua News Agency)
Packed with CNY visitors: The Imperial Palace.

Photo: Packed with CNY visitors: The Imperial Palace. (Xinhua News Agency)Photo: Packed with CNY visitors: The Imperial Palace. (Xinhua News Agency)
Packed with CNY visitors: The Imperial Palace.

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.

The following table illustrates consumer spending patterns in a number of different Beijing shopping locales throughout the CNY holiday:

Shopping MallScitech PlazaHanguang Dept StoreIto Yokado
Top selling itemsMen's wear, ladies' wear, healthcare products, cosmetics, watches, kitchenware, home furnishings and bedding, children's wear, gold.Sports and casualwear, ladies' wear, bags and luggage, cosmetics, watches, kitchenware, home furnishings and bedding, catering, gold.Ladies' fashion, quality men's wear, fashionable clothing and accessories, sports and casualwear, undergarments and pyjamas, children's wear, household goods, home furnishing and bedding, digital home appliances, stationery, toys.
Price rangeRmb200-2 millionRmb100-100,000Rmb10-50,000
Promotional tacticsThe early arrival of the Spring Festival this year meant it was necessary to start making preparations earlier than in previous years.New Year sales and free handouts of WeChat red packets.Customer appreciation rebates and other special CNY offers.
Projected YoY change of Q1 2016 salesDecreaseIncreaseDecrease
Other information (consumption trends of products of different price ranges and consumption of luxury goods, mid-to-high-end goods and mid-to-low-end goods etc.Falling consumption of luxury goods is an undisputed fact. Price difference in domestic and overseas markets, controlled public spending, outlet sales and more rational spending are major factors affecting sales performance.Spent Rmb100 million to carry out large-scale renovation and will renovate the most important cosmetics floor this year.Will increase investment this year for overall renovation and upgrade in preparation for long-term development. Will also adjust the product mix and store layout and develop catering, beauty and hair salon and other business formats.
Impact of e-commerceConvenience of global online shopping affected the sales of luxury brands.E-commerce competes in efficiency and physical stores compete in experience. The two complement each other as retail formats. As a stand-alone department store, it has no plans to rush into "Internet-plus" and will put emphasis on optimisation of shopping experience instead.E-commerce involves fewer intermediary links and some large e-commerce companies are willing to sell below cost to increase their market share. This drives physical stores with more intermediary links and higher prices to the wall. Physical businesses, including traditional supermarkets, are facing a serious test.

Vivian Yu, Beijing Office

BACK TO TOP ^
CONTENT PROVIDED BY
    Topics:
  • Mainland China,
  • Spring Festival golden week,
  • traditional New Year’s goods,
  • mass market dining,
  • Cultural,
  • sporting and entertainment activities,
  • tourism and leisure activities
  • Mainland China
  • Mainland China
Home

Article Topics

ARTICLE TOPICS

MAINLAND CHINA35608
SPRING FESTIVAL...115391
TRADITIONAL NEW YEAR’...115392
MASS MARKET DINING115393
CULTURAL101451

ARTICLE TOPICS

MAINLAND CHINA35608
SPRING FESTIVAL GOLDEN WEEK115391
TRADITIONAL NEW YEAR’S GOODS115392
MASS MARKET DINING115393
CULTURAL101451
SPORTING AND ENTERTAINMENT ACTIVITIES115394
TOURISM AND LEISURE ACTIVITIES115395

interest_article

YOU MAY BE INTERESTED IN

14 March 2016

2016 Chinese New Year Sales: Hangzhou

11 March 2016

2016 Chinese New Year Sales: Qingdao

09 March 2016

2016 Chinese New Year Sales: Wuhan

08 March 2016

2016 Chinese New Year Sales: Dalian

Related Events

RELATED EVENTS

28 - 30 March 2023

FASHION HK AT CHINA INTERNATIONAL FASHION FAIR, SHANGHAI, CHIC 2023 (SPRING)

11 - 15 April 2023

Style Hong Kong Pavilion at China International Consumer Products Expo, Haikou

26 - 28 May 2023

Chic HK, Shenzhen

28 - 30 June 2023

22nd Shanghai International Children Baby Maternity Industry Expo (CBME)
FIND AN EVENT

Social Share

FOLLOW US

GET WEEKLY UPDATES

newpaper-img

GET OUR WEEKLY EMAIL UPDATES

banner-img


I acknowledge that the above information may be used by the Hong Kong Trade Development Council (HKTDC) for incorporation in all or any of its database for direct marketing or business matching purpose (and may therefore become available to the public within and/or outside of Hong Kong for use by them), and for any other purposes as stated in the Privacy Policy Statement; I confirm that I have the consent and the authority of each individual named in this form to release their personal data for the purposes stated herein.


*For non-EU/EEA customers, please skip this box which is solely for EU/EEA customers as required by the relevant data protection law in the EU.

THANK YOU

Thank you for registering.

SHARE THIS STORY

EMAIL
LINKEDIN
WeChat
FACEBOOK
TWITTER
WHATSAPP

ID: HKTDCofficial

Don't have an account?

Create An Account

successfully added on your preferences.