Beijing residents celebrate New Year with shopping frenzy

Revenues generated by Beijing's 127 enterprises and more than 3,000 shops topped 740 million yuan ($108.8 million) on New Year's Eve, up 42 percent from the same period in 2008, a report from the Beijing municipal commission of commerce said.

Department stores and shops specializing in electronic appliances had the highest sales figures, the report said.

Several department stores, including Shuang'an, Sogo and Caibai, saw revenues nearly double over the holiday. Zhongyou Department Store, located in Beijing's Xidan shopping area, reportedly had sales of one million yuan per hour on the first day of 2010.

"I bought a pair of boots in Xidan yesterday. The assistant told me it was the last pair," Xiao Lili, a 25-year-old bank employee, said.

"The boots were a little dirty because so many people had tried them on. But it was a sale so I decided to buy them anyway."

A number of stores boosted their sales by offering customers big discounts. Xiao said she purchased her shoes for 800 yuan, half-off their original price.

Local media reported customers buying dozens of clothes at a time because of deep discounts at famous brands, like Zara and H&M. Some retailers cut prices up to 70 percent.

"We had big sales promotions, like cutting prices and handing out gifts," Yang Na, a salesperson at a Suning appliance store, told METRO yesterday.

"Usually I only sell 10,000 yuan per day. During this New Year's holiday, I have sold 40,000 yuan to 50,000 yuan worth of merchandise in a day."

Zhang Shuai, another Suning employee, said the number of customers visiting the store had increased by at least 30 percent. "Some of my customers brought their families, too. It's like a shopping festival," he said.

Retailers said particularly generous discounts this year led to the shopping frenzy.

"Presenting discounts in stores will directly appeal to customers, and this resulted in a significant rise in terms of revenue," a Dangdai Department Store manager said in an interview with Beijing Business Today.

Li Weiwei, Beijing Municipal Commission of Commerce deputy director, told Beijing Business Today he expects sales of consumer goods in the capital city to total 520 billion yuan for 2009. "Thanks to continuous promotions conducted by various stores," Li said.

(China Daily 01/04/2010 page13)