During the past 11 years since the offshore duty-free policy was implemented in Hainan province, Sanya International Duty Free Shopping Complex's sales flourish, becoming the first duty-free shop in Hainan with sales exceeding 100 billion yuan ($15.3 billion).
From April 20, 2011, when the offshore duty-free policy was implemented, to the first quarter of 2022, Hainan Customs has supervised the sales of 195 million offshore duty-free items, with a sales amount of 145.5 billion yuan and 29.26 million shoppers.
To date, there are five duty-free business entities in Hainan, with the number of duty-free shops increasing to 10. The market entities are becoming diverse, and the pattern of orderly competition in the offshore duty-free market is taking shape.
In order to better meet the demand of the duty-free market and promote the return of overseas consumption, Hainan promotes the synchronization of the brands, varieties, and prices of duty-free goods in the international market. Its offshore duty-free shopping presents the features of richer brands, an optimized shopping environment, diversified marketing methods, and improved shopping convenience.
Consumers buy makeups at the Sanya International Duty Free Shopping Complex. [Photo/VCG]