Shanghai tops for new store openings as shopping season kicks off
Editor's note:
High-quality growth, the most-mentioned phrase during the Two Sessions, will keep guiding China's new route of development. As a bellwether city, Shanghai takes a model role in mapping out growth of high quality, and here is what we find in different sectors of our life.
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Shanghai has maintained its position as China's national leader in terms of new store openings.
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Shanghai has maintained its position as China's national leader in terms of new store openings, with the addition of 375 outlets set up from January to April this year, according to the authorities.
As part of the annual Shanghai Double Five Shopping Festival, the city's Global New Products Debut Season campaign kicked off on Sunday, during which several theme events will be held, such as those promoting beauty products, trendy lifestyle and fashion.
These events will feature the release of a large number of new products. It is expected that approximately 300 domestic and international brands will hold theme-day events for product debut during the monthlong campaign.
According to a report released on Sunday by the Shanghai Commission of Commerce, the metropolis welcomed the establishment of 1,073 new flagship stores of various types in 2022, maintaining its position as the city with the largest and highest quality flagship store market in the country.
From January to April, an additional 375 new flagship stores were added. Among them, four are global or Asian first stores of the brands, 52 are first stores in China, with high-level first outlets accounting for a total proportion of 14.9 percent.
Third-party organizations expect that during the Global New Products Debut Season, more than 150 flagship outlets of first stores will rush into the Shanghai consumer market, something the commission seconded.
For instance, Obagi Medical is to open its world's first nursing experience store as well as its first duty-free flagship store in China; Le Labo, a handmade fragrance brand under Estée Lauder, is to open its first Chinese mainland store in Shanghai's Xintiandi; and Lego Group will launch its first Shanghai digital retail store.
To help consumers navigate these new stores, the event organizers have created the country's first map of brands' first stores, featuring first stores of more than 700 representative brands in Shanghai opened over the past four years.
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Many new stores are showcasing innovative business patterns and product offerings in the Pudong New Area.
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Also unveiled at the opening ceremony was an index for Shanghai's "debut economy," which measures the city's ability to launch new products and services and open first stores. It noted that Shanghai's debut economy has shown strong resilience and development momentum, with a slight increase in the 2022 index compared to 2021.
It highlighted the increasing number of high-profile brand launch events, the unique characteristics of each demonstration zone in the city, and the overall development of Shanghai's debut economy.
For instance, the Nanjing Road W. commercial area in downtown Jing'an District has remained the top destination for new store openings, while the popular Xintiandi, Lujiazui, and Huaihai Road M. areas in Huangpu District also continue to be the preferred locations for new store launches. Meanwhile, the Pudong New Area has become a new landmark for consumption innovation, with many new stores showcasing innovative business patterns and product offerings.
