Shanghai to add 45 large shopping malls in 2023

According to the Shanghai Shopping Venues 2022-2023 Annual Development Report released recently, the number of shopping malls in Shanghai with an area of 30,000 square meters or larger will surpass 400 in 2023.

This year, Shanghai will see an additional 45 shopping centers, each covering at least 30,000 square meters, bringing the total floor area to 3 million square meters – the most rapid expansion in the past three years.

Last year, the city witnessed the opening of 20 new large-size shopping venues, with the majority starting operations in mid- to late December, which was a new low in recent years. Some old shopping centers or plazas were closed down, sold out, merged or acquired, or reshuffled under the impact of the COVID-19 pandemic.

The five "new cities" – in suburban Jiading, Songjiang, Fengxian, and Qingpu districts as well as Nanhui in the Pudong New Area – and the 15-minute community life circles around residential neighborhoods are becoming favored locations for new shopping centers.

In addition, the shopping venues are exploring new commercial trends, including camping, mini theaters, eSports and themed fairs, among others, to attract more customers.