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Retailers delight over making a record sale
13
Feb '08
Heavy pre-holiday snow proved a blessing for the retailers in Shanghai. Sales during the Spring Festival turned out to be the highest in eight years.

Travelers forced to stay within the city due to heavy snow went on a thorough shopping spree despite surging prices.

A total of 360 large and medium sized retailers together procured nearly 4.2 billion yuan (US$584.18 million) during a week's holiday that started from February 6. The shopping centers earned about RMB1.05 billion up 24.1 percent, while specialty stores generated almost RMB753 million, 38.6 percent higher than that of the previous year.

Supermarkets and convenience stores also rose by 14.9 percent to RMB 2.27 billion. On the whole, the sales went up by nearly 20.5 percent compared to the year before.

It was a rare sight to see a teeming crowd gather at shopping stores despite heavy snow blocking their passage. Buyers took a pleasure in exploring shops and making purchases to make their holiday less disappointing and worthwhile.


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