Shanghai Shopping Festival shows latest in consumer trends

SHANGHAI, May 7, 2025 /PRNewswire/ -- A news report from english.shanghai.gov.cn

The 2025 Shanghai Shopping Festival, now being held for the sixth time, is showcasing the latest trends in China's consumer market, according to officials and company executives at the launch ceremony on May 1.

A key focus this year is the "silver economy" — spending conducted by senior citizens. Companies are offering special packages that combine healthcare, elderly care, tourism, financial services and other consumer goods.

As Shanghai's GDP per capita continues to rise, the city's consumer spending patterns are shifting, with a larger portion of spending expected to be directed toward services. To meet this demand, Shanghai is expanding its offerings in sectors like telecommunications, the internet, education, culture and healthcare.

This year's shopping festival, running from May 1 to late June, is offering the biggest-ever shopping discounts and is benefitting the greatest number of consumers.

Discounts are available in seven major categories, including home appliances, home decor, furniture and products for older folks.

The local government is also working to establish more tax refund service centers in popular shopping areas, improving services that allow overseas tourists to claim tax refunds at the point of purchase.

Additionally, online payment providers like Alipay and banks acting as tax refund agencies will offer special discounts, coupons and gifts to overseas tourists making purchases in the city.

Various districts in Shanghai have rolled out special incentives for this year's festival.

Jiading district, known for its automobile manufacturing and unmanned vehicles testing, is offering a subsidy of up to 2,000 yuan ($276) to car buyers starting March 21 for a two-month period. This subsidy also applies to used cars.

Several premium international cosmetics brands, such as Sisley, will debut their new spring collections in department stores in Jing'an district, located in the heart of Shanghai.

Pudong New Area will release 50 million yuan in shopping coupons, which customers can use at Pudong-based malls to buy clothing, cosmetics, gold and even jewelry. Consumers can enjoy a 30 percent discount with the coupons. Special promotions for car purchases are also being rolled out in Pudong during the festival.

A 1.5-kilometer special lane connecting a park and two major department stores has been set up in Pudong for the Shanghai International Flower Show, currently on and running to May 11. The lane aims to embellish the total shopping experience by providing a great environment and integrating cultural activities, according to local authorities.

The combination of flowers and shopping is also being featured in Huangpu district in central Shanghai, where the district is hosting the Shanghai International Flower Show for the first time.

Restaurants in Huangpu have introduced limited-edition desserts and beverages for the event, while traditional food brands have launched flower-themed snacks that tourists can take home.

For more information:

https://english.shanghai.gov.cn/en-2025ShanghaiShoppingFestival/index.html

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Shanghai Shopping Festival shows latest in consumer trends

Shanghai Shopping Festival shows latest in consumer trends

Shanghai Shopping Festival shows latest in consumer trends

Shanghai Shopping Festival shows latest in consumer trends

SINGAPORE and BOSTON, Jan. 13, 2026 /PRNewswire/ -- Cosmo, a global leader in performance textiles, composites, and advanced materials for the footwear and apparel industry, today announced a planned leadership transition. Josh VanDernoot will retire as Chief Executive Officer after six years in the role. The Board of Directors appointed Mark Griffie as CEO, effective 1 January 2026. Mark will be based in Singapore. Josh will remain on Cosmo's Board of Directors and serve as an advisor to support Mark through a smooth transition.

Chairman of the Board, Doug Dossey said, "Josh led Cosmo through a period of significant industry change, maintaining operating discipline, honoring commitments to our brand and factory partners, and strengthening the foundation of the business. We are grateful for his leadership, and Cosmo is well positioned today because of it."

Josh VanDernoot added, "It has been a privilege to lead Cosmo, and I am proud of the platform we have built over many years. The business is strong, the team is deeply capable, and Mark is well prepared to lead the business in its next phase. I look forward to continuing to support the Company as a Director and advisor."

Mark Griffie joined Cosmo in 2024 and has worked closely with the leadership team to drive growth, sustainable innovation and operational excellence. Previously, he spent two decades at Nike, most recently as Senior Vice President of Materials Supply Chain, where he oversaw global procurement of over USD 8 billion in footwear and apparel materials. His earlier roles spanned product development and sourcing across Asia, including postings in China (2006–2008) and Singapore (2016–2020). Mark brings deep brand acumen, an extensive industry network, and a proven track record of executing at scale.

"Mark is a proven leader with deep operating expertise and a strong understanding of our customers, partners and industry," noted Doug Dossey. "He has the full confidence of the Board and the leadership team, and he is incredibly well positioned to lead Cosmo into its next exciting phase of growth."

Mark Griffie said, "I'm humbled by the trust placed in me by the Board, Josh and the Cosmo team. Our priorities remain unchanged. We will stay deeply connected to our brand and factory partners, ensuring reliability and consistency in everything we do. At the same time, we will continue strengthening our commercial and operational foundations."

Cosmo operates in a dynamic part of the footwear and apparel value chain. With Mark as Chief Executive Officer, Cosmo will continue to lead with operational discipline and a strong customer focus. The Company is committed to supporting its brand and factory partners through reliable execution, close collaboration, and a relentless focus on delivering value.

-END-

About Cosmo

Cosmo is a global leader in performance textiles, composites, and advanced materials for the footwear and apparel industries, and the #1 supplier of waterproof solutions worldwide. Through a versatile, multi-country manufacturing platform, Cosmo supplies innovative materials designed to meet a wide range of performance, aesthetic, and commercial requirements. Cosmo offers a tiered portfolio of solutions – spanning good, better, and best options across performance and price points – allowing brand and factory partners to select the right materials for each product and market. With manufacturing operations across Asia, Cosmo supports localized production, rapid development cycles, and fast-to-market delivery. The Company works closely with leading global brands through collaborative R&D partnerships and is committed to sustainable manufacturing, advancing initiatives such as recycled material systems, waterless dyeing, bio-based textiles, and closed-loop recycling. Together, these capabilities enable Cosmo to deliver high-quality, innovative, and environmentally conscious material solutions to partners worldwide. Learn more at https://cosmofabric.net/ 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Cosmo Announces Leadership Transition; Mark Griffie appointed as Chief Executive Officer