A research produced by
During the first five months of 2013, Guangzhou’s total sales reached RMB270.6 billion, a year-on-year increase of 15.5%. Due to the slow growth in annual retail sales, department stores launched numerous promotions to boost consumption. During the Labor Day holiday, blockbuster sales of gold, appliances, and garments induced aggregate transactions of Guangzhou’s eight most prominent department stores to climb to RMB0.4 billion, a 12.0% year-on-year increase. The highest retail sales growth was observed by the Grandbuy department store, where year-on-year sales increased 25.0%.
Source : Cushman & Wakefield
