China National Service Corp opens Shanghai downtown duty free store
In this article (4)
State-owned China National Service Corporation (CNSC) opened its ambitious Shanghai downtown duty free store on 8 August. The corporation aims to invest heavily in the burgeoning downtown duty free sector in China.
The store opening attracted thousands of shoppers on opening day. It houses an initial 100 brands from the region and worldwide over two floors, with more to come in the next three months, according to local reports. Categories on offer includes watches & jewellery, beauty, confectionery, toys, gifts and special sections dedicated to Korean and Japanese items,
According to reports from Shanghai, the leading brands sold on day one were Estée Lauder, La Mer and MAC.
The reports said that year one sales should hit around 400 million Yuan (US$60 million).
CNSC said it planned to improve its retail systems and service processes, as well as its customer capacity.
Landmark day: The new CNSC store opens in Shanghai (Photos: Duty Free Expert)
Large crowds gathered in anticipation of the new store’s unveiling
Questions & Answers
Q.What kind of products are available at the new CNSC duty-free store in Shanghai?
What kind of products are available at the new CNSC duty-free store in Shanghai?
The store offers watches & jewellery, beauty products, confectionery, toys, and gifts. There are also specific sections for Korean and Japanese items, with initial reports highlighting brands like Estée Lauder and MAC.
Q.How many brands are currently stocked in the new Shanghai duty-free store?
How many brands are currently stocked in the new Shanghai duty-free store?
The store currently houses an initial 100 brands, sourced from both the local region and internationally. More brands are expected to be introduced over the next three months.
Q.What are the sales projections for the new CNSC store's first year of operation?
What are the sales projections for the new CNSC store's first year of operation?
Reports from Shanghai indicate that the store is expected to achieve sales of approximately 400 million Yuan, equivalent to about US$60 million, within its first year.