Retail in Asia


Hainan’s Labour Day holiday sales fall sharply to USD 96.8 million

Total sales (duty free and tax paid) for the Labour Day holiday from 30 April to 1 May at Hainan province’s ten duty free stores reached CNY 645 million (USD96.8 million), according to New Hainan. That represents a drop of some -35 percent from last year’s record CNY 993 million (USD 153 million based on prevailing rates at the time).

SEE ALSO : March retail sales dip 13.8 percent in Hong Kong

The results underline the severe impact of the COVID situation in key Hainan visitor source markets such as Shanghai, which has been under weeks of lockdown.

Quoting official Hainan Provincial Department of Commerce statistics, New Hainan said that the number of shoppers reached 64,400 (compared with 121,000 a year earlier), a month-on-month increase of +12.87 percent.

SEE ALSO : Singapore retail sales rose 8.7 percent in March 2022

Compared with the pre-holiday period, online membership sales increased by +27 percent. A +31 percent month-on-month rise in average transaction values drove the overall revenue gains, the report said.

(Source: Moodie Davitt)