Local retailers preparing for post-SARS sales
19/5/2003 17:43
Most retailers in Shanghai have begun to prepare major post-SARS
promotions to make up for recent losses, the Youth Post reported
today.
The Shanghai Commercial Commission suspended all retail promotions
before the May Day holiday, with shoppers in Nanjing Road, Huaihai Road and
Xujiahui greatly declining.
Retailers had to cut prices to attract
customers, leading to heavy losses.
A large-scale shopping spree is
inevitable after the SARS epidemic ends, said an industry observer.
Most
local retailers are planning their sales plan for the post-SARS period, the
observer said.
"We will hold unprecedented large-scale promotional
activities after SARS has ended," said a spokesman with the New World Department
Store, surnamed Zhou.
"We aim to have a business revenue of more than
eight million yuan (US$960,000) every day," Zhou said.
Consumption is
sure to rebound after a long period of suppression due to SARS, providing a good
opportunity for local retailers, said Wang Shuang, researcher with Bohai
Securities Co Ltd.
Wendy Zhang/ Shanghai Daily news
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