(Yicai Global) February 10 — Sales of products related to the Beijing Winter Olympics soared as licensed products surged more than 20 times during the Chinese New Year online shopping festival compared to it a year ago.
The winter sports economy has grown significantly, according to Commerce Department data. Sales of ski equipment and ski clothing soared 63% and 61% respectively, while online sales of ski tickets doubled, and orders for ice and snow tourism products on platforms e-commerce businesses jumped 30%, the ministry said at a news conference today.
Last year, prompted in part by the impact of Covid-19 on shopping in physical stores, the ministry launched an online shopping festival that included promotions during Chinese New Year. This year’s event ran from January 10 to February 7.
The ministry did not reveal overall sales figures for this year’s shopping festival, but noted some of the top-selling items. Sales of smart projectors, smart massagers, and 65-inch-plus TVs soared 90%, 34%, and 21%. Sales of products related to cultural heritage have also seen a notable increase.
Products based on the Beijing 2022 mascot Bing Dwen Dwen and other Olympics-related products have been in short supply since the Games opened on Feb. 4. Revenue from licensed products will exceed CNY 2.5 billion (USD 393.2 million) during the period, according to a forecast from Shanxi Securities.
Publisher: Tom Litting