As the clock struck midnight on New Year's Eve, Shanghai's shopping precincts buzzed with activity — setting new sales records and offering visitors an unforgettable start to 2025.

Shopping centers along the city's iconic Nanjing Road Pedestrian Street — including New World City, New World Daimaru and M558 — extended their hours until 12:30 am on Jan 1.

The retail hot spots lured eager shoppers with steep discounts, cashback offers and exclusive gift giveaways.

To make the evening go even smoother, Nanjing Road partnered with Gaode Maps to distribute 100,000 ride coupons valued at 100 yuan ($13.70) each, ensuring visitors could return home safely after a night of fun.

Shanghai No 1 Department Store went a step further, staying open until 2 am. The flagship venue attracted hordes of night-owl shoppers with major brand promotions, surprise gift bags and rewards for customers reaching spending milestones.

The festivities coincided with the final day of Shanghai's 2024 government and municipal subsidy programs for appliances and home goods.

Discounts from the subsidy initiative, together with in-store promotions, create hefty savings, with some prices slashed by nearly 50 percent.

The result was a shopping bonanza: Shanghai No 1 Department Store alone recorded 763 million yuan in sales, a 9 percent increase year-on-year, between 9 am on Dec 31 and 2 am the following day.

The subsidy programs, which encouraged consumers to trade in old appliances for new ones, were a resounding success in 2024.

By Dec 11, more than 3.57 million residents had participated, boosting sales of air conditioners, refrigerators and computers by 30-40 percent.

The initiative distributed about 1.17 billion yuan in subsidies, driving overall appliance and home goods sales to exceed 10 billion yuan.

For those who missed the deadline, there's still good news. The Shanghai Municipal Commission of Commerce announced on Jan 1 that the "trade-in for new" program will continue in 2025 — covering cars, appliances, home goods and electric bikes.

Stay tuned for more updates!

Source: Shanghai Observer