Consumer goods sales gain momentum in Yichang
2024-02-03 20:02:23
By Xie Zimeng, Yichang Three Gorges International Communication Studio
The total retail sales of consumer goods in Yichang amounted to 203.154 billion yuan (US$28.26 billion) in 2023, up 8.8 percent year-on-year and ranking third in Hubei Province just behind Wuhan and Xiangyang in terms of total volume and growth rate, according to the Municipal Bureau of Commerce.
Nine out of Yichang’s 13 districts have introduced local subsidy policies to strengthen the policy incentives for consumption.
The city has carried out extensive consumption promotion activities with varying themes in all seasons and issued coupons to stimulate consumption based on the habits of residents during different times of the year and major festivals. Last year, Yichang carried out more than 780 activities involving over 10,000 market entities and 111 million yuan in fiscal subsidies. Total sales added up to 6.021 billion yuan.
The city continues to foster convention, exhibition, and Internet influencer economies as ways to boost emerging consumption. In 2023, Yiling, Xiling, Wujiagang, Dianjun and Xiaoting districts in Yichang's urban area held a total of 110 activities, including 37 exhibitions and 73 conferences. These activities have boosted their respective economies, generating about 7 billion in revenue across consumer goods, hotels, restaurants, and the automobile industry.
The effect tourism is having on consumption is also becoming more prominent. Since the winter began in 2023, the city has held many activities around the "ice and snow tourism season” theme. The "skiing plus hot springs" tourism in Bailihuang, Wufeng, and Xingshan ushered in a peak season. Catering, tourism, and other related consumption saw a rebound.
The total retail sales of consumer goods in Yichang amounted to 203.154 billion yuan (US$28.26 billion) in 2023, up 8.8 percent year-on-year and ranking third in Hubei Province just behind Wuhan and Xiangyang in terms of total volume and growth rate, according to the Municipal Bureau of Commerce.
Nine out of Yichang’s 13 districts have introduced local subsidy policies to strengthen the policy incentives for consumption.
The city has carried out extensive consumption promotion activities with varying themes in all seasons and issued coupons to stimulate consumption based on the habits of residents during different times of the year and major festivals. Last year, Yichang carried out more than 780 activities involving over 10,000 market entities and 111 million yuan in fiscal subsidies. Total sales added up to 6.021 billion yuan.
The city continues to foster convention, exhibition, and Internet influencer economies as ways to boost emerging consumption. In 2023, Yiling, Xiling, Wujiagang, Dianjun and Xiaoting districts in Yichang's urban area held a total of 110 activities, including 37 exhibitions and 73 conferences. These activities have boosted their respective economies, generating about 7 billion in revenue across consumer goods, hotels, restaurants, and the automobile industry.
The effect tourism is having on consumption is also becoming more prominent. Since the winter began in 2023, the city has held many activities around the "ice and snow tourism season” theme. The "skiing plus hot springs" tourism in Bailihuang, Wufeng, and Xingshan ushered in a peak season. Catering, tourism, and other related consumption saw a rebound.
