Shanghai's fashion stores struggle to clear lockdown stock hangover

Quick Summary

Weeks after re-opening, retail sentiment is downbeat with Shanghai's consumers yet to return to malls in significant numbers and footfall around half its usual levels in major downtown malls, according to retail staff.

China is a major market for personal luxury goods companies with sales reaching US$74.4 billion in 2021, according to Bain.

One consultancy estimated that sales during "618" – a major shopping event in China from May 31 to June 20 - across the main e-commerce sites, such as Tmall and JD.com, were flat year-on-year.

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Article Details

Category: Economy

Topics: Fashion Brands Major Stock Online Inventory China Cent Retailers Shanghai Sales

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-24, 07:02:00

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 5 minutes read

Article Length: 900 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 6680

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