Jiangsu’s New Year holiday sales reach 7.25 billion yuan

2021-01-04 14:54:00

(VCG Photo)

Retail sales reached 7.25 billion yuan in East China’s Jiangsu Province during the New Year holiday, a year-on-year growth of 7.1 percent.

Large shopping malls and commercial complexes reported strong growth of sales during the 3-day holiday. In Suzhou, the 50 key trade enterprises under monitoring achieved sales of 533 million yuan, up 24.5 percent year on year. Sales of 9 key commercial complexes in Changzhou went up 36.5 percent and hit 173 million yuan.

Major supermarkets took measures to boost consumption during the festival. Xuzhou’s 61 key supermarket enterprises achieved sales of 486.3 million yuan, an increase of 8.3 percent. The 15 supermarkets in Lianyungang also saw their sales to climb up 10.5 percent year and reach 96.48 million yuan.

Data also showed recovery of accommodation and catering sectors, driven by spending for parties, wedding banquets and other activities. Catering companies introduced diversified choices to capitalize on the opportunities and stimulated online consumption with discounts. Nanjing’s 20 key catering and accommodation enterprises achieved sales of 11.943 million yuan, an increase of 62.8 percent year on year.

The Jiangyin branches of Suning.com and Jiangsu Five Star Appliance reported sales of over 7.58 million yuan, a year-on-year growth of 31.85 percent. Data also showed the introduction of consumption vouchers and the "first-store economy" approach helped drive domestic consumption. The approach means a region ready to host the first regional store of a leading brand in order to enhance market vitality and improve the business environment.