Xiamen's major shopping malls witness sales boom
Xiamen city in Fujian province has witnessed a rebound in consumption and market confidence since the beginning of this year.
During the Spring Festival holiday period, 17 large shopping centers in Xiamen achieved sales revenues of more than 100 million yuan (about $14.44 million), a year-on-year increase of 11.3 percent.
An executive said since the Spring Festival, the number of customers in China City has increased significantly and the recent activities such as folk art collections and intangible cultural heritage puppet shows have attracted many visitors.
SM City Xiamen and SM Lifestyle, two high-end shopping malls in the city, also recorded a boom in shoppers and sales. An executive of SM said that during the Spring Festival holiday, the passenger flow of SM Xiamen reached 920,000, up 74 percent year-on-year. The number of member consumers increased by 64.85 percent year-on-year.
The passenger flow and sales of the Rainbow Mall have increased significantly thanks to its off-season promotional activities.
Operators of the Modern City said that since February, the shopping mall passenger flow has increased by 14.75 percent year-on-year and sales have surged by 10.74 percent year-on-year.
Many supermarkets are also busy launching Spring Vegetable promotional activities. For instance, various seasonal vegetables are placed on special counters at the Wal-Mart SM store.
Districts in Xiamen have issued favorable policies to stimulate the consumer market, and since the beginning of the year, Siming and Tongan have launched a series of festival-themed activities to boost consumption.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.