Retail’s Lunar New Year cheer

chinese new year decorationsRetail sales grew 6.88 per cent during the weeklong Chinese New Year celebrations compared to the same holiday period last year, Australian Retail Index data has revealed.

Fashion retailing led the charge with a spike of 14.7 per cent.

National Retail Association (NRA)CEO, Trevor Evans, said “retailers were in a unique position to gain a greater slice of the tourism pie as exploding numbers of emerging middle class travellers from China flocked to Australia” for the holidays.

Chinese visitors rank as the highest overall spenders among inbound tourists to Australia, averaging $8,616 per person – an increase of 17.0 per cent – and have on average six-week trips Down Under.

Chinese visitors now account for 22 per cent of all inbound tourism expenditure, with the majority of visitors ranking shopping as a high priority.

Evans said retailers who embraced the spirit of the celebrations are reaping the greatest rewards. He also said those retailers who can “adapt their offerings to appeal to visiting consumers by hiring bilingual staff, offering better sales, and of course, catering to important dates such as the Chinese Lunar New Year, will stay ahead of the game.”

Want more Inside Retail? Subscribe to Inside Retail Weekly now and get our premium print publication delivered to your door every week. 

Comments

Comment Manually

Inside Retail Polls

Christmas and the bottom line
How did your retail business fare over Christmas 2016?

Inside Retail Directory

Twitter

A raft of international retailers have set their sights on Australia in 2017. https://t.co/UKqB2k50id

2 hours ago

Jewellery retailer’s holiday sales flat. https://t.co/9jAGKsOdAU

3 hours ago

Online turned multi-channel suit retailer continues expansion. https://t.co/3mmzAJ8lnc

3 hours ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered