Survey details outbreak's impact on shopping centers
A development index for domestic shopping centers fell to its lowest level in three years as the COVID-19 pandemic restricted offline spending, according to a joint report by the Nielsen and China Chain Store & Franchise Association.
The index dipped to 65.2, from 69.4 a year earlier, and two sub indices which track the willingness and frequency of shoppers' visits to shopping centers both declined, with those in first-tier cities falling at a slower pace.
The survey of 2,014 shoppers in 44 domestic cities shows that the majority intend to spend less at physical stores mainly due to the pandemic, but still wish to enjoy leisure time. Specifically, about 45 percent want to go to shopping centers on their own to enjoy solo time.
Shoppers also tend to spend more time at comprehensive shopping centers which offer more entertainment and leisure activities, while at the community or regional level they focus more on solving immediate shopping targets.
Among more than 3,500 shopping centers in the survey, 60 percent experienced over a 50-percent drop in foot traffic in the first quarter and over 40 percent suffered 30 to 50 percent revenue losses.
Consumers have been quick to shift to digital channels, with about one-third of shopping centers' members taking part in sales campaigns through social media or other official channels by the retailers.
Compiled from October last year to March this year, the survey does not fully reflect recent recoveries for shopping centers.
