Winter economy booms amid big freeze
Beijing and Shanghai lead Chinese cities in bumper sales of outerwear, hot food and heating products
For retailers in China, particularly those in Beijing, the winter economy ends around late February. Hu is intent on making the most of every shopping day until then, given recent new COVID-19 cases in Beijing and subsequent lockdowns in a couple of districts of the national capital.
"This winter has been extremely cold. The sales peak for coats arrived 45 days earlier than usual. Spring Festival is fast approaching, and so is the concern about epidemic prevention and control. As retailers, we've been fully prepared," Hu said in January.
Data from the National Meteorological Center showed that on Jan 7, Beijing shivered at minus 19.6 C, the coldest temperature since 1966.
But retailers tended to see the brighter side of the story, which is the so-called winter economy, or the season's consumption activities that span warm clothing, heating devices, hot food, and hot springs to soak feet in.
"At each garment store, we reserved the prime display area for down coats. Since the cold wave arrived in Beijing earlier than normal, consumer demand for coats surged. Therefore, we launched the winter catalog 45 days earlier than usual. The number of down coats we sold between Dec 22 and Jan 12 surged 20 percent year-on-year," Hu said....
....To grasp the opportunities presented by the winter economy, retailers should track seasonal shopping trends and offer diversified choices to consumers,
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Source China Daily