Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Policies

    New global consumption metropolis rises

    By WANG YING in Shanghai | China Daily | Updated: 2021-10-20 10:35
    Share
    Share - WeChat
    Taikoo Li Qiantan officially opened to the public on Sept 30 at Pudong New Area in Shanghai. [Photo provided to China Daily]

    The first store boom comes in various forms and sizes, and has become part of many Chinese cities' efforts to become international consumption hubs.

    In the first half, 513 first stores were launched across Shanghai, including six global or Asian debuts, 69 first stores in the Chinese mainland, seven making the first entrance in East China and 431 first shows in Shanghai, according to big data service platform Dataquest China.

    Beijing and Chengdu, Sichuan province, were also hot destinations for brands opening their first stores. The two cities attracted 434 brands and 296 brands, respectively, in the first half.

    In Shanghai, about 15 percent of the debut brands are international, and they come from Japan, the United States, France, South Korea, the United Kingdom and Italy, according to Dataquest's figures.

    "From the perspective of investors and operators of shopping malls, the hashtag of first store plays an important role in helping one shopping mall to differentiate from others," said Xie Chen, head of research with CBRE China.

    Many sophisticated shopping centers would usually make sure at least 30 percent of their brands in the mall were first stores of a specific region. Such approaches could become very positive for the shopping centers' early stage marketing and operations, and attract considerable numbers of consumers, Xie said.

    First stores are drawing consumers, and so are new debuts in existing shopping centers. Data from commercial real estate services provider CBRE showed that between 8 million sq m and 10 million sq m of new shopping mall space is launched in major Chinese cities annually. In order to retain a shopping center's competitiveness, a convention has developed wherein a shopping mall's brands are adjusted according to the trends of the consumer market.

    The continued upgrade of Sun Hung Kai Properties' IGC mall in Guangzhou's Tianhui Plaza for new national or regional-level first stores in the past five years has enabled the shopping center to become a new landmark for affordable luxury in the region. The mall has also become one of the few commercial properties in South China to buck the COVID-19-related downtrend and see its revenue grow.

    Several new debut stores of fashion, sweets, accessories and toys were launched at Shanghai's IAPM mall this year, which further consolidated the shopping center's positioning as a one-stop shopping landmark for luxury brands, food and restaurants, entertainment and experience, as well as lifestyle and fashion, according to Maureen Fung, executive director of Sun Hung Kai Real Estate Agency.

    The shopping mall has also become the first choice for international luxury brands to launch pop-up stores, said Fung.

    Experts said the glamor of first stores is fundamentally backed by China's strong consumption potential. According to the CBRE report, bulk and other transactions of retail and retail-related commercial complexes in the Chinese mainland soared nearly 150 percent year-on-year to 80 billion yuan ($12.44 billion) in the first nine months, with shopping malls taking the lion's share of the trade.

    The rapid recovery of the consumer market after the outbreak of the COVID-19 pandemic has beefed up investor confidence, while the 10 to 15 percent price gap from pre-COVID-19 levels makes the situation more appealing.

    Internet-based new consumer brand Bananain is looking to operate 30 brick-and-mortar stores across the nation by 2023 with a majority of them being first stores in major Chinese cities.

    "To us, first store means the debut of our brand in a specific city, and it connects us to consumers physically," said Zhang Li, head of Bananain's offline business.

    So far, the brand has launched its city-level debut stores in Shenzhen in Guangdong province, Shanghai, Hangzhou in Zhejiang province, and Xi'an in Shaanxi province. And Bananain looks to operate five offline stores by the end of this month, with more in the pipeline in the coming years in big Chinese cities.

    At the same time, China's leading artificial intelligence and speech technology company iFlytek Co Ltd is advancing its plan to open the first flagship store in 2022.

    "In a bid to have our products to reach more people in Chinese cities, iFlytek looks to operate 200 outlet stores by next year with the first flagship store to be unveiled by 2022," said Zhao Xiang, executive vice-president of consumer business with iFlytek.

    "While seeking debuts stores, retail operators are equally enthusiastic to collaborate with experienced brands on new concepts to bring fresh and high-quality experiences to consumers, maybe even more," said Paige Chuang, head of retail agency at JLL Shanghai.

    The key to attracting consumers on a long-term basis is the business itself, and the good facilities, premium services, and proper positioning in accordance with target consumers, Chuang said.

    |<< Previous 1 2   
    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    国产午夜无码专区喷水| 亚洲AV无码专区电影在线观看| 无码伊人66久久大杳蕉网站谷歌| 丝袜熟女国偷自产中文字幕亚洲| 午夜不卡无码中文字幕影院| 日韩精品一区二区三区中文字幕| 久久久久久国产精品无码下载 | 无码区国产区在线播放| 最近2019年中文字幕一页| 久久中文字幕无码专区| 无码人妻一区二区三区免费看 | 亚洲国产成人片在线观看无码| 国产成人无码一区二区三区| 中文字幕亚洲一区二区va在线| 国产精品中文久久久久久久| 国产成人精品无码免费看| 亚洲AV无码成人专区片在线观看| 亚洲日本中文字幕天堂网| 熟妇人妻VA精品中文字幕| 久本草在线中文字幕亚洲欧美| 欧洲人妻丰满av无码久久不卡| 精品久久亚洲中文无码| 无码国产精品一区二区免费式直播 | 亚洲欧美日韩国产中文| 韩国中文字幕毛片| 性无码免费一区二区三区在线 | 亚洲欧美日韩中文字幕在线不卡| 亚洲一级Av无码毛片久久精品| av无码国产在线看免费网站| 国产精品无码无卡在线播放| 男人的天堂无码动漫AV| 国产精品无码无需播放器| 大学生无码视频在线观看| 久久精品无码一区二区三区| 久久久久久国产精品无码下载| 无码少妇一区二区浪潮av| 亚洲一级特黄无码片| 乱人伦中文无码视频在线观看| 一本无码中文字幕在线观| 久久婷婷综合中文字幕| 亚洲国产午夜中文字幕精品黄网站 |