CHINA. Offshore duty-free sales rocketed +54.9% year-on-year in the first seven days of trading following the long-anticipated Hainan Free Trade Port island-wide customs closure on 18 December.
According to Haikou Customs statistics released yesteday (25 December), sales reached CNY1.1. billion (US$156.5 million) for the period 18-24 December.
That figure was generated from 775,000 purchases made by 165,000 shoppers, up +11.8% and +34.1% year-on-year respectively.
Total sales, individual purchases and customer numbers increased week-on-week by +71.8%, +46.7% and +71.8% (the same figure as total sales, a coincedence The Moodie Davitt Report is checking), respectively.
The week-on-week growth underlines the amplifying effect of the customs closure operation on consumer demand and market confidence, Haikou Customs said.
Duty-free sales benefited from an enhancement to the offshore duty-free policy on 1 November which, as reported, added new categories, including pet supplies, portable musical instruments, small appliances and consumer electronics plus six types of domestic goods.
Guo Jianmeng, Director of the Port Supervision Department of Haikou Customs, stated, “To provide domestic and international travellers with a better shopping experience, we have greatly improved the efficiency of the entire duty-free supply chain sales, and delivery through innovative models such as a ‘centralized + automated’ document review, low-altitude drone delivery and tiered supervision.”
Haikou Customs said it will continue to strengthen supervision and optimize services to ensure the precise application of offshore duty-free policy benefits and contribute to the construction of Hainan International Tourism Consumption Center. 🏝️
