According to a sales representative from the French retail giant Carrefour, the company will sell more than 120 kinds of products at a price as low as CNY1 per item in its South China outlets.
Unlike usual after-festival price cuts which mainly focus on fast-moving commodities, this new promotion covers the most popular consumer goods, including beverages, beers, washing supplies, and skin care products.
Zhang Fangtao, manager of Carrefour's Guangzhou Jinsha store, told local media that the high sales volumes during the Spring Festival made them aware of the strong demand in China's consumer markets. Based on the results of various channels, Carrefour believed that the Chinese market would maintain a stable growth after the Spring Festival.
Because many international retail chains are optimistic about the Chinese market there is more serious competition in the retail chain industry an many retailers are putting more effort into promotion.