Recovery gathers pace, confidence rebounds in Pudong

2022-08-08


Pudong's business is as hot as the summer despite sporadic COVID-19 cases, latest statistics show.


Pudong's consumer spending quickly picked up in June when Shanghai fully re-opened business amid a citywide downward infection trend. Without giving a specific number, the Pudong Commerce Commission revealed its total retail sales of social consumer goods in June was 10 percentage points higher than the city's average level.



In short, Pudong's consumption sector has recovered from the pandemic better than other downtown districts, reflected by the number of consumers, the amount of spending and the index of consumption vitality, among other measurements, according to data from China UnionPay and China Unicom.


"As the recovery gathers pace, business confidence has rebounded in Pudong," Cao Lei, deputy director of the commission told Shanghai Daily. "The consumption market has bottomed out and recovered from a sharp decline."


Bicester Village holds a fashion show to celebrate the opening of this year's Double Five shopping festival.


In particular, he noted, sales of vehicle and cosmetics have witnessed a year-on-year rise of 17.1 percent and 22.6 percent. Some of the credit also went to its booming "debut economy" in which businesses open their first stores and launch new products in Pudong, he added.


In the first half of this year, more than 50 first stores have landed in Pudong, including Dior's first Luxury Beauty Retreat in China and Audemars Piguet's first AP House on the Chinese mainland.



Bicester Village, one of Pudong's popular luxury outlet shopping destinations, features more than 50 first outlet stores. Ten more brands will be introduced this year. At the moment, the village is adored in bright yellow smiles in cooperation with global smiling face IP Smiley.


"The village witnessed a 20 percent increase in sales revenues in July compared with the same period last year," said Mark Israel, chief executive officer of Value Retail China.


An outdoor sports party at Bicester Village.


To further fuel its business recovery, Pudong has launched various promotional campaigns and robust consumption stimulation packages during the city's Double Five shopping festival.


There are also a wide collection of arts, cultural and sports events on offer, such as the Museum of Ice Cream and "Bags: Inside Out" exhibition at the Taikoo Li Qiantan, Tesla's GIGA pop-up exhibition, night time hair at the Oriental Pearl Tower, NBA Hoop Park teenager's basketball tournament and outdoor sports party along the Sunland Lake.


People shop at Bicester Village despite scorching weather.



Source: SHINE

Editor: Xu Qing



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