Sasseur REIT achieved record-breaking aggregate sales of RMB276.1 million ($51 million) across its four outlets in China during the Golden Week holiday from Oct 1 to Oct 7.
This marks an increase in portfolio outlet sales of nearly 28% y-o-y and a surge of close to 55% compared to pre-pandemic levels in 2019.
Its Chongqing (Liangjiang) Outlet maintained its leadership position in the portfolio with RMB145.3 million in sales, representing a y-o-y growth of almost 45%.
The performance aligns with broader national trends — data from China's state administration of taxation showed a 25% y-o-y rise in daily average sales revenue in its consumer-related sectors during Golden Week, supported by a resurgence in domestic consumption.
Sasseur REIT’s outlet sales outperformed the overall retail sales revenue, which rose by 9% y-o-y.
By synchronising its outlet anniversary celebrations, which started in September and continuing with Golden Week promotions, Sasseur REIT collaborated closely with leading local and international brands to tailor pricing strategies and promotional activities, thereby enhancing consumer engagement and driving favourable purchasing decisions, says CEO of the REIT manager, Cecilia Tan.
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“We offered compelling value buys with irresistible discounts that drew large crowds of both local shoppers and tourists from other parts of China during this period,” she adds.
Units in Sasseur REIT closed 0.5 cents lower on Oct 11 at 70.5 cents.
