Retail in Asia


Surging duty-free sales in Hainan during Spring Festival

According to statistics from the Hainan government, ten offshore duty-free shops in south China’s island province of Hainan reported a total turnover of RMB 2.13 billion (US$ 335 million) during the Spring Festival holiday, a year-on-year increase of 151 percent.

SEE ALSO: China Duty Free Group secures Hangzhou Xiaoshan Airport T4 duty free contract

About 1.82 million items were sold to 300,000 customers, up 157 percent and 138 percent year on year, respectively.

According to the department, duty-free sales of the shops reached RMB 1.94 billion (US$ 305 million) from 31st January to 6th February, up 156 percent year on year.

Three more duty-free shops opened last year in Hainan, raising the total number to 10. The duty-free shops host more than 720 brands in a total shopping area of 220,000 square meters.

SEE ALSO: Hainan sets US$15.8 billion duty free goal for 2022

China released a master plan in June 2020 to build the island province into a globally influential and high-level free trade port by the middle of the century. Amid the COVID-19 pandemic, Hainan has grown into an attractive shopping destination for domestic consumers.