Since the beginning of this year, Jiangsu has accelerated innovation in consumption and supply and continued to improve its consumption environment.
Although the consumer goods market experienced short-term fluctuations due to the rebound of COVID-19 in the first three quarters, the continued upward development trend has not changed, and development momentum has remained high.
Online retail sales maintained relatively rapid growth. The province achieved online retail sales of 760.51 billion yuan ($118.79 billion), a year-on-year increase of 10.9 percent. Among them, the catering industry achieved 5.54 billion yuan in meal sales through the Internet, a year-on-year increase of 173.5 percent and reflecting the continuous increase in demand for "contactless consumption".
Total retail sales of consumer goods in Jiangsu from January to September were valued at over 3.17 trillion yuan, a year-on-year increase of 19.5 percent and an average growth of 6.7 percent over the past two years.
Suzhou not only leads all cities in the province, but also has a growth rate of 1.7 percentage points higher than the provincial average.
This strong consumption is a result of innovative business formats and models. This year, for the first time, Suzhou cooperated with Shanghai to launch the "5-5 Shopping Festival". It strayed from the traditional promotion model that mainly served local residents and expanded the consumption radius to the space of integrated development in the Yangtze River Delta region.
"Participating in the shopping festival will help us enhance our brand and reputation, and will also help our products be sold overseas," said Wang Hui, general manager of Dreame Technology (Suzhou) Co.
Zhang Hao, deputy director of the Suzhou Municipal Bureau of Commerce, said that the city will officially launch the second Double 12 Shopping Festival in December to help enterprises sell products all over the country and the world.Since the beginning of this year, various parts of Jiangsu province have held 528 activities to promote consumption, attracting the participation of 100,000 companies.
The provincial government also issued documents to further promote consumption. During the National Day holiday this year, 190 million yuan in consumer coupons were issued across the province to stimulate 1.3 billion yuan in social consumption. In Nantong, Zhenjiang and other places, intangible cultural heritage inheritors appear on pedestrian streets and in communities from time to time.