THE WHAT? Offshore duty-free stores in China’s Hainan province have reported total sales revenue of CNY32.4 billion for the first half of 2023, up 31 percent on year-on-year, according to a report published by China Daily.
THE DETAILS The number of shoppers has also risen dramatically following the lifting of Covid-related travel restrictions, hitting 5.17 million, up 34 percent on the same period last year. Some 25.68 million products were sold via Hainan’s travel retail outlets in this period.
THE WHY? Not only have travel restrictions been lifted but Hainan has spent heavily on marketing initiatives designed to tempt customers back. The province has distributed coupons to the value of CNY200 million and debuted an international duty-free shopping festival featuring more than 30 promotional events.