Nanjing Road Pedestrian Mall to issue shopping coupons for New Year
The Nanjing Road Pedestrian Mall
Shanghai's Nanjing Road Pedestrian Mall will issue shopping coupons with a total value of more than 10 million yuan (US$1.4 million) from Wednesday to enhance business recovery amid the New Year shopping season.
The shopping campaign, organized by Shanghai New World Co and involving various merchants and financial institutions along the iconic road, will run through February 3, 2024.
"The goal is to turn post-pandemic consumption recovery into sustainable expansion," said Chen Yong, president of New World group.
Starting from 10am on Wednesday, the first set of coupons will be available on the Alipay mini-program.
They will include 13,000 pieces of 800-yuan coupons, which will be sold at 550 yuan, along with another 25,000 units of 100-yuan coupons at the cost of 70 yuan.
Meanwhile, China Construction Bank will offer another 70,000 pieces of 100-yuan coupons at the cost of 66 yuan each on the bank's app.
The revamped Century Plaza on Nanjing Road E.
The coupons can be used in over 40 stores and merchants in the Nanjing Road E. area, including department stores, such as Shanghai New World and Shanghai New World Daimaru, as well as time-honored brands like Xing Hua Lou, Tai Kang Food, Shao Wan Sheng and Sanyang Food Store.
The "Spend New Year with Nanjing Road" campaign, now in its third year, has become a marketing brand in Shanghai during the annual year-end shopping period.
During previous campaigns, over 95 percent of the coupons were used, increasing the total spending of merchants by 44 percent and the average spending per customer by 37 percent, according to the group.
The coupons have not only boosted consumer confidence but also increased overall sales in the Nanjing Road shopping district, the group said.
The road, billed as China's No. 1 commercial street, has revamped its iconic Century Square and refurbished stores of several traditional brands to enhance the shopping experience and attract more young customers.
The future renovation projects will keep improving its landscape and interactive experiences to make it a world-class commercial street. It will contribute to Shanghai's ambition to become an international consumption center city, the Huangpu District government said.
The renovated Sanyang Food Store
