Sasseur REIT reports RMB 47.2 million in first-day sales for annual spring sales event

SINGAPORE: Sasseur Asset Management Pte. Ltd. (SAMPL), in its capacity as manager of Sasseur Real Estate Investment Trust, announced that the four outlet malls in China under Sasseur REIT’s portfolio have recorded strong first-day sales during its annual Spring Sales period in April.

The Spring Sales events this year started around the third or fourth week of April and will last up to two to three weeks thereafter.

Combined first-day sales recorded for the four outlet malls located in Chongqing, Bishan, Hefei and Kunming were RMB 47.2 million, 411% higher than the first-day reopening sales registered in March.

Sasseur REIT previously reported encouraging sales during the reopening of its four outlet malls, with combined reopening day sales being 129% higher than the corresponding dates in 2019. The malls were closed between 44 to 49 days in late January in a decisive and pre-emptive effort to prevent the spread of COVID-19 in China and re-opened progressively from 11 March 2020.

Sasseur REIT had proactively adopted online sales and promotional activities since February this year, and will continue to increase its online and offline engagement with VIP members and customers. While the Spring Sales event had been delayed to the third or fourth week of April due to the disruptions brought on by COVID-19, the encouraging foot traffic at the event indicates a strong recovery with respect to outlet shopping.

They underscore the efficacy of the promotions which are taking place amid accelerated efforts to contain any further spread of the virus even as more businesses resume operations across China.

In addition to the sales promotions, Sasseur REIT’s outlet malls have set up super atrium sales, and have provided free parking for VIP members, exclusive benefits for healthcare workers, and discounted cash vouchers for purchase. The outlet malls are gearing up for themed promotional events to celebrate this month’s various special events, namely May Day, Mother’s Day and “520” Valentine’s Day on 20 May.

Shoppers will be treated with unique events and promotions which coinciding with the different celebrations.

Commenting on the encouraging Spring Sales numbers, Mr Vito Xu, Chairman of SAMPL, said: “The retail outlet industry has always been a reliable market for consumers to turn to during international economic downturns. More than 90% of our customers are local residents rather than tourists, and the strong domestic demand generated by China’s huge population base can quickly drive up our sales after the outbreak.

The temporary closure period has allowed us to conduct extensive internal strategic and operational reviews. These have led to the advancement of a more intensive digital marketing plan to each out to more customers and engage them on a deeper level. The management team and staff have adequately prepared ourselves for the return of shoppers, which have led to the encouraging customer traffic and sales numbers after the resumption of business.”

The outlet malls have implemented health and safety standards since resuming operations in March; all customers, tenants and employees will be required to wear face masks and undergo temperature screening when entering the malls. Each mall has sufficient stock of face masks and disinfectants, and cleaning and sanitising of facilities and public areas have also been stepped up as well. Sasseur REIT is pleased to report no cases of COVID-19 in any of its malls.