SZ raises curtain on shopping festival, offers ¥2B in discounts

The curtain rose on the 2022 Shenzhen Shopping Festival yesterday, which will bring residents nearly 1,000 promotional activities over the next three months, with consumption coupons and subsidies of over 2 billion yuan (US$296.18 million) to be offered, the city’s commerce bureau announced at a launch ceremony.

Spanning from August to October, a variety of promotional campaigns and district-level activities will be hosted across the city, which will cover night economy, food and beverages, cultural and sports activities, tourism and automobile consumption.

A ceremony is held yesterday to mark the launch of this year's shopping festival. Courtesy of the organizers

During the shopping spree, consumers will find three distinguished themes each month. The first month, Joyful Shopping Month in August, targets young consumers and features offline promotional activities for dining and entertainment.

Fashion Consumption Month in September highlights consumer electronics, apparel, gold and jewelry, watches and glasses, cosmetics, sports products, as well as tea and beverages.

In October, Brand Shopping Month, generous discounts and coupons will be handed out via e-commerce live streaming and exhibitions, among other popular platforms.

“This year, major shopping malls, supermarkets, brands, e-commerce platforms, car manufacturers and the government will jointly hand out about 2 billion yuan in vouchers and subsidies to consumers,” Zhou Mingwu, deputy head of the commerce bureau, said.

The city’s iconic annual shopping gala will continue to enhance its international reputation, and boost new consumption scenarios, new businesses, new models and new consumption experiences, Zhou added.

Starting from August, the municipal and district governments are set to distribute a new round of consumption vouchers and vehicle subsidies totaling 800 million yuan, of which nearly 500 million yuan will be pumped into the municipal car-scrap plan and new energy vehicle purchase subsidies. Coupons worth over 300 million yuan will be given by district governments during district-level shopping festivals.

To stimulate local tourism spending, the commerce bureau will join hands with catering companies, hotels, B&Bs and scenic area managements to organize over 50 large promotional campaigns. Ten urban tourism routes and five staycation destinations have been launched by the city’s culture, radio, television, tourism and sports bureau.

In addition to 500 million yuan from the city’s core commercial areas, supermarket chains and key brands to encourage offline shopping, well-known e-commerce platforms, such as JD.com, Taobao, Meituan and Ele.me, will spend 300 million yuan on boosting online consumption.

Last year, Shenzhen’s shopping festival held over 600 activities featuring thousands of brands, offering discounts totaling 1 billion yuan. Statistics showed that enterprises participating in the event raked in over 106 billion yuan in sales, up nearly 26% year on year.