NANJING, China, Jan. 22,
2020 /PRNewswire/ -- On January
18, 2020, Suning, one of the
leading commercial enterprises in China, released a report of consumption data
for the Suning New Year Shopping Festival. Data shows that 5G mobile phones, headsets, and
charging devices replaced instant
noodles, becoming "the most popular things" of the Chinese New Year
Festival. In addition, New Year's Eve dinner is gradually breaking
the traditional impression of a big family's reunion. Instead, the
sales volume of "Family Dinner for Three" has increased by 125%
year-on-year, and consumers are mainly from three major cities:
Beijing, Shanghai and Guangzhou.
Chinese New Year is an annual ritual of family reunification and
indulgence, with online and offline
players vying for a larger consumer share amid a climax of
festivity and pro-consumption policies. It is the largest
consumption time in China, and the scale of consumption during
this period has also increased year
by year. Data shows that retail revenue during the Chinese New
Year period from 2011 to 2019 is on the rise. More specifically, retail revenue during the Spring
Festival period in 2011 was
405 billion RMB, and the retail
revenue in 2019 was 1.005 trillion RMB.
With the continuous increase of mileage of high-speed rail and
the popularization of new consumption concepts, not only has the
time for people to return to their
hometowns shortened, but also "the most popular things " of the
Chinese New Year Festival have changed.
Digital products are becoming people's favorite items, no
matter if they're for self-use
or as a gift. As the 5G concept expanded
in 2019, 5G mobile phones have also become a hot consumer item. During the New Year's
Festival, the top 3 brands of Suning's overall sales of 5G mobile
phones are Huawei, Honor, and Xiaomi. Consumer age is mainly
concentrated between 25-36 years old, accounting for 60% overall
and demonstrating the consumption
trend among young generations.
In addition, the sales of handheld gimbals increased by 294%
year-on-year, and the sales volume of DJI drones was even higher
than that of Single's Shopping Festival in 2019, increasing by 108%.
Additionally, Chinese consumers like to purchase home appliances
and fruit during the New Year
Shopping Festival. Sales of TVs are
trending towards large screens and smarts, with 75-inch
large-screen sales growing fast at an increase of over 300%
year-on-year. In addition, Suning teamed with Midea to build a
total of 12,156 units of the first C2M customized washing machines.
Moreover, 300,000 kg of cherries was sold on the national pre-sale
channel, which also breaks the previous sales record on
Suning.com.
Along with shopping, Chinese
consumers have a tradition to celebrate the New Year with their
families. However, this year more consumers have chosen to book
dinner for three, instead of a big family reunion with
relatives. The orders increased by 125% compared to 2019, mainly
located in larger cities.
To welcome more consumers to come to the brick-and-mortar store,
Carrefour stores of Suning have extended their operating hours,
providing consumers enough time to purchase New Year's gifts.
Similarly, Carrefour offered
consumers more than 200 million RMB in out-of-season promotional
resources, sales increased by 92% year-on-year and the number of
purchasers exceeded 3.58 million.
About Suning:
Founded in 1990, Suning Holdings Group is one of the leading
commercial enterprises in China,
with two public companies in China
and Japan. Suning, which ranks
third in the top 500 Chinese private enterprises, is dedicated to
serving more than 600 million customers worldwide with over 280
thousand employees. With its mission of "Leading the Ecosystem
Across Industries by Creating Elite Quality of Life for All",
Suning has shaped an industrial layout featuring coordinated
development of real estate and financial service with retail at the
core.
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SOURCE Suning Holdings Group