With the official opening of the 4th "May 5th Shopping Festival" at the Grand Hall, the North Bund of Hongkou, the consumption market in Hongkou has shown a hot trend this “May 1st” Holiday.
During the holiday, the sales of 16 sample enterprises in the district increased by 78.9%, compared to the same period in 2019. Among them, the sales revenue of department stores/shopping centers increased by 89.5% compared to the same period in 2019. The sales revenue of the catering industry increased by 6.6% compared to the same period in 2019, and the trend of regional commercial recovery is obvious.
During the holiday, commercial enterprises in Hongkou focused on the theme of this "May 5th Shopping Festival" Hongkou Activities. According to their own characteristics, they carried out promotional activities, used the festival to revitalize the market, thus forming a new hot spot for the regional consumption.
During the May 5th Shopping Festival, various black technologies, trendy styles, and sustainable first stores and first exhibitions were concentrated in commercial complexes in Hongkou, leading new consumption trends.
Each commercial brand in Hongkou actively responded to the theme of the "AMAZING Hongkou Tide" activity, focusing on the word "trendy" and holding a lot of activities.
With the continuous upgrading of residents' consumption, the regional consumption market is showing new characteristics such as "strong demand for quality consumption", "vigorous development of green consumption", and "significant warming of technology consumption". Besides, live streaming e-commerce and instant retail are rapidly developing, and high-quality, diversified, and personalized consumption demand is constantly emerging, becoming a new driving force for the consumption recovery growth.
The Hongkou District Commerce Commission grasps the market hotspots and leverages the May 5th Shopping Festival platform to fully tap into the resource advantages of the downtown area, strengthen the regional consumption highlights, and continuously amplify the economic effect of first-store economy. It also actively promoted key business circles such as Ruihong Tiandi and Raffles of the North Bund in Hongkou, in a bid to constantly improve into a diverse complex from internet celebrity landmarks to provide fresh impetus for the construction of Shanghai as an international consumption center city.
The e-commerce platform took the festival as an opportunity to continuously expand new consumption scenarios and supply, held various online promotional activities, and continued to promote a rebound in consumption.
Meanwhile, the main and sideline food markets in Hongkou have maintained a good overall operation during the holiday, showed sufficient supply and overall stable prices, met the consumption needs of citizens at different levels in a multi-level and all-round manner.