In the company newsletter, Adam Roseman of ARC China discussed the sales in Shanghai during National Holiday. Local shoppers were thrilled with the significant discounts offered during the week-long shopping festival, sending the city into a shopping frenzy and raising reatail sales by 18%.

In the report, Roseman writes: “Consumers spent a record high 7.1 billion yuan ($1.1 billion), up an annual 17.6%, at 5,000 stores of 456 large and middle sized local retailers during October 1^st to 7^th.”

Though last year’s National Holiday week yielded more sales, this year’s increase still holds a 6.1% higher record than the Spring Festival.