Sales Increase in Shanghai Department Stores

In 2010 Shanghai held the World Expo and the city s department stores experienced double-digit growth, a reversal of two-year decline in their growth rate. According to Shanghai Commercial Information Center that has studied the sales of nearly 70 department stores, most of them realized a 15.5% year-over-year increase in 2010. The sales volume of top 20 department stores in Shanghai has reached 21.847 billion RMB, an increase of 14.1% over last year.

The ranking of department stores had few changes in 2010 compared with that of 2009, with Nextage, New World and Jiu Guang on the top three places. The sales volume of Nextage stands at 3.921 billion RMB, up by 13.6%; that of New World is 2.972 billion RMB; and Jiu Guang 2.15 billion RMB, which is the third one with its sales volume over 2 billion. There are two new stores whose sales are over 1 billion: Hui Jin, with an increase of 20.5% and Landmark Department Store with an increase of 15.8%.