Forty shopping centers in Shenzhen have seen a total of 323 new stores, including 60 “first stores” opened by renowned global and domestic brands between July and September this year, according to statistics from retail marketing platform www.winshang.com.
Statistics showed that a total of 60 brands launched their first Shenzhen shops in the third quarter (Q3). These include 34 in catering such as bakeries and drinks which are favored by young people, 21 in retail and two in culture, sports and entertainment.
Out of the 60 “first stores” opened in Q3, eight are first in China, 31 in South China, 19 in Shenzhen and two on the mainland.
Brands engaged in catering like hot pots, Japanese food, light meals, tea drinks and bakeries took up over 50 percent of the total new “first shops” opened in Q3. Brands such as Peet’s Coffee, Tim Hortons, Enoteca and Fuwa Fuwa, which opened their shops in Shenzhen, have enriched the city’s catering scene.
In retail, some high-end brands like Tom Ford, Alexander Wang and Arc’ Teryx Alpha Center have settled in MixC complexes in Luohu District, and Shenzhen Bay and Dachong in Nanshan District.
It is worth noting that MixC World in Dachong has become a “first shop economy” benchmark with 13 shops opened in Q3. These shops are composed of five first shops in Shenzhen, six in China and two on the mainland.
First shop and brand economies, an important index reflecting business innovation and a city’s influence, now play a driving role in stimulating consumption.
Shenzhen is striving to be the first choice among Chinese cities in launching global brands in China and as a shop window for global brands, according to a plan put forward by the Shenzhen Municipal Commerce Bureau on expanding consumption, improving consumption quality and creating new demands.
Renowned global brands that open their flagship shops in Shenzhen will receive a reward of 1 million yuan (US$156,713), and if the shop in Shenzhen is the first of its kind in China or in South China, the rewards will be 600,000 yuan and 300,000 yuan respectively.
In April this year, the Shenzhen Municipal Commerce Bureau unveiled measures on building international consumption centers. Among the measures, the property owners that introduced flagship shops of renowned domestic and global brands will receive rewards of 500,000 yuan for retail outlets, or 200,000 yuan for catering outlets. The reward for one property owner or operator will be no more than 3 million yuan a year. For the product launching or shop launching activities of renowned brands in Shenzhen, the government will give subsidies at 30 percent of the actual cost but capped at 3 million yuan.