Shanghai launches Spring Shopping Season

East China's Shanghai launched its Spring Shopping Season on March 28 in key districts, featuring a series of themed activities and events – including flower displays and spring outings – designed to boost spending.

According to an official report, Shanghai added 1,073 new first stores in 2022, leading the country in their growth rate. First stores from 23 overseas countries and regions settled there, with Bulgaria and Vietnam among others becoming the new kids on the block in the last couple of years.

In January-February this year, 181 new first stores were added in the city, offering yet more diverse retail formats.

The report also showed that Shanghai's live-streaming retail sales topped 200 billion yuan ($29.1 billion) in 2022, a year-on-year increase of 1.5 percent, accounting for 11.8 percent of the country's total.

Personal care and cosmetics continued to be a star sector for Shanghai, while sports and outdoor retail sales exceeded 20 billion yuan, a year-on-year increase of more than 20 percent.

Shanghai also ranked first in the country in terms of tax refunds on consumer spending, with average per capita spending of 214,000 yuan in January-February in the current year.

Spring Shopping Season is part of Shanghai's overall efforts to promote consumer spending throughout the year. According to the Shanghai Municipal Commission of Commerce, the metropolis will stage six themed shopping seasons this year, as well as its fourth May 5 Shopping Festival.