Shop at home
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Update time : 2021-02-24
During the just-ended New Year's holiday, duty free stores across Hainan were crowded with wealthy Chinese buyers.
A sales manager at the Sanya duty free store surnamed Sun told the Global Times on Monday that some hot luxury items, such as Lancome eye cream, Burberry scarves, and Fendi boots have sold out due to rising demand, and it is not clear when new stock will come in.
"Traffic [at the duty free store] has bounced back since the second half of 2020," Sun said, noting that the overseas travel restrictions and attractive shopping policies have fueled the business boom.
In 2020, duty-free sales in Hainan exceeded 32 billion yuan and a further rise is expected this year, Wang Lei, a Hainan government official, said at a press briefing on Monday.
Starting from July 1, Hainan increased the duty-free quota per person to 100,000 yuan from 30,000 yuan. And more favorable policies will be launched this year, including a duty-free delivery service, according to Hainan officials.
"The pandemic shows no sign of abating in other countries, so it is impossible to travel to international markets in the short term where luxury products can be cheaper. Spending in the home market is the only way I can release my pent-up demand," a Beijing-based white-collar worker surnamed Li told the Global Times on Monday. Li had a vacation in Hainan in December and spent more than 30,000 yuan on luxury purchases.
Li said she is also worried about cross-border e-commerce shopping, as there is a risk of coronavirus in the outer packaging of goods sent to China.
Chinese consumers' demand for luxury goods was also seen during Beijing SKP shopping mall's annual shopping celebration, during which thousands of wealthy people swarmed in and patiently queued in stores for hours.
"We expect the 'comeback' trend to last until the end of this year," an SKP salesperson told the Global Times. As such, she has tried to develop more long-term customers, acquiring the contact numbers of some regular luxury consumers who used to buy goods in Milan or Paris.
"Once new items arrive, I will inform them," she noted.
A sales manager at the Sanya duty free store surnamed Sun told the Global Times on Monday that some hot luxury items, such as Lancome eye cream, Burberry scarves, and Fendi boots have sold out due to rising demand, and it is not clear when new stock will come in.
"Traffic [at the duty free store] has bounced back since the second half of 2020," Sun said, noting that the overseas travel restrictions and attractive shopping policies have fueled the business boom.
In 2020, duty-free sales in Hainan exceeded 32 billion yuan and a further rise is expected this year, Wang Lei, a Hainan government official, said at a press briefing on Monday.
Starting from July 1, Hainan increased the duty-free quota per person to 100,000 yuan from 30,000 yuan. And more favorable policies will be launched this year, including a duty-free delivery service, according to Hainan officials.
"The pandemic shows no sign of abating in other countries, so it is impossible to travel to international markets in the short term where luxury products can be cheaper. Spending in the home market is the only way I can release my pent-up demand," a Beijing-based white-collar worker surnamed Li told the Global Times on Monday. Li had a vacation in Hainan in December and spent more than 30,000 yuan on luxury purchases.
Li said she is also worried about cross-border e-commerce shopping, as there is a risk of coronavirus in the outer packaging of goods sent to China.
Chinese consumers' demand for luxury goods was also seen during Beijing SKP shopping mall's annual shopping celebration, during which thousands of wealthy people swarmed in and patiently queued in stores for hours.
"We expect the 'comeback' trend to last until the end of this year," an SKP salesperson told the Global Times. As such, she has tried to develop more long-term customers, acquiring the contact numbers of some regular luxury consumers who used to buy goods in Milan or Paris.
"Once new items arrive, I will inform them," she noted.