It has been one month since the implementation of the new tax exemption policy for Hainan’s outlying islands. A reporter from The Paper recently visited Sanya International Duty Free City in Hainan and found that compared with cosmetics, Hainan’s luxury products such as jewelry, bags and so on have higher price advantages, and a large number of popular goods are out of stock.

　　Due to the New Deal, the annual quota of duty-free shopping for tourists from Hainan outlying islands has been increased from 30,000 yuan to 100,000 yuan, and the tax-free quota of 8,000 yuan for single goods has been cancelled. Many tourists have made a special trip to Hainan to buy luxury goods such as jewelry and watches.

　　The Paper reporter saw in Sanya International Duty Free City that Swiss watch jewelry brand Chopin’s HAPPY HEARTS series rose gold bracelet with turquoise was quoted at 21,400 RMB in official website, China, and the listed price in the duty free city was 19,600 RMB, and the price was 18,620 RMB after 15% discount, which was 2,600 RMB lower than that in official website.

　　The relatively high price advantage of jewelry products is more obvious. For example, Tiffany’s "Platinum-encrusted Vine Ring Key", an American diamond jewelry and watch brand, is priced at 45,000 yuan in the duty-free city and sold at 42,750 yuan after enjoying a 15% discount, while the price of the same product in Tiffany’s official website is 52,000 yuan, with a difference of nearly 10,000 yuan.

　　Another example is the French luxury brand Saint Laurent’s "LOULOU small Y-quilted leather bag", which costs about 13,000 yuan in the duty-free city and 15,800 yuan in official website, China.

　　Such a price advantage has attracted many tourists. At the gates of popular luxury brands such as Tiffany, Bulgari, Cartier and Gucci, which are popular among domestic consumers, there is a long queue from 10 am, and there are more people waiting in the afternoon. Usually, it takes at least 20 to 30 minutes to enter the store to buy.

　　In the tax-free city, the main consumer groups of jewelry brands are young couples and couples, and many wedding preparers make a special trip to Sanya to buy jewelry products such as wedding rings.

　　Statistics show that from July 1 to 31, the sales of duty-free goods with a unit price of more than 8,000 yuan was about 700 million yuan, and the number of buyers was 38,000, up by 503% and 339% respectively. The proportion of duty-free sales with a unit price exceeding 8,000 yuan has increased from 15.6% in the same period last year to 27.7% this year, which is 10.3 percentage points higher than that in June this year.

　　Xie Zhiyong, general manager of Hainan Duty Free Products Co., Ltd. also said in an interview with People’s Daily, "After this policy adjustment, the driving effect is very obvious, and expensive watches, precious jewelry, mobile phones and alcohol are selling well." Xie Zhiyong believes that price concessions are the main factor in the hot sale of duty-free goods.

　　The Paper reporter saw in the duty-free city that at present, most brands in the mall participate in the 15% discount activities of affiliated hotels, and popular cosmetic brands also offer promotions of 10% discount on 3 items and 15% discount on 5 items.

　　At present, the supply capacity of duty-free city seems to be behind the enthusiasm of consumers.

　　On the same day, Jaeger-LeCoultre, a Swedish high-end watch brand in the duty-free city, was basically sold out around 2 pm. In a large shop, there are only rows of empty glass display cases and three lonely men’s watches, and even the window column area is "empty". The staff in the store told the reporter that there are only a few men’s watches left in the store for purchase.

　　In addition to Jaeger-LeCoultre, only one of Tiffany’s popular "smile necklaces" was sold, and another jewelry brand, Shangmei, was also in short supply, and many popular models were out of stock early in the morning.

　　Statistics from the financial department show that from July 1 to 31, 2020, the duty-free sales of four duty-free shops in Hainan Province totaled about 2.5 billion yuan, and the per capita consumption was 5,527 yuan, up by 240% and 82% respectively. Driven by duty-free goods, Hainan’s consumer market picked up significantly in the second quarter of this year. In the first half of the year, the retail sales of duty-free goods on outlying islands in the province was 8.572 billion yuan, a year-on-year increase of 30.7%; Among them, the retail sales in June was 2.299 billion yuan, a year-on-year increase of 235%.