Festival injects vitality into Shanghai's consumer market
The fourth edition of the Double Five shopping festival achieves its goal of promoting consumption in Shanghai. [Photo/WeChat account: scofcom]
The fourth edition of the Double Five shopping festival, which was held in Shanghai from April 29 through the end of June, has achieved its goal of promoting consumption in Shanghai, according to local authorities.
During this period, the Shanghai Municipal Commission of Commerce organized more than 1,300 consumption activities, and brick-and-mortar stores across the city saw a combined daily average sales volume of 7.13 billion yuan (about $1 billion), up 16.2 percent from the previous year.
The local commerce commission will continue to organize themed activities to boost consumption during the July-August period in a bid to accelerate the recovery and expansion of consumption rates.
Additionally, Shanghai International Resort in Pudong New Area will launch a summer carnival in late July. During the September to October period, Shanghai will hold a series of events with the theme of "Travel in Shanghai, and enjoy shopping", to celebrate the annual Shanghai Tourism Festival, which falls in September every year.