Sanya duty-free store sees 18% consumer purchase probability
Sanya duty-free store
The sales of CITS’ Sanya duty-free store has kept growing since it was opened one year ago. The first 4 months of 2012 saw RMB 700 million in sales and the total sales hit RMB 1.67 billion. The purchase probability of visitors is about 18% with an average consumption of RMB 2,000 per tourist. What’s more, the offshore duty-free amount is expected to be raised to RMB 8,000 from RMB 5,000 by the end of 2012.
Statistics from the Haikou Custom show Sanya duty-free store saw a total of 4.2 million visitors from 20th April in 2011 to 15th April in 2012, and the daily number of tourists visiting the stores reached 10,000 on average. The same period also saw a record number of 1.51 million deals with RMB 1.67 billion in sales.
According to the Sanya Bureau of Statistics, Sanya received over 10 million tourists in 2011, up 15.7% year on year. However, the average purchase rate of Sanya tourists is less than 10%, lagging far behind South Korea and Japan.
In order to meet consumers’ need, a new policy will be made to raise the maximum duty-free amount from RMB 5,000 to RMB 8,000 by the end of this year.