A noticeable rise of renovation on the existing retail space was also observed in China’s major cities. In 2019,The Ministry of Commerce proposed a pilot program of renovation and improvement on 11 pedestrian streets across the country. Local government in Beijing proposed a scheme of upgrading 22 retail places (i.e. retail clusters) in the coming three years... According to the latest statistics from Geolytix, a minimum of 12 shopping malls/department stores in Beijing had gone through a large-scale upgrading or redevelopment in 2019; and in Shanghai at least 14 malls saw significant renovation in the past year.
Retail landscape in China is being reshaped much more rapidly than any other countries in the world. In the meantime, the integration of online and offline channels is also becoming a vital part in retailing and marketing. The epidemic in early 2020 has further fueled the explosion of “online lifestyles" in China, and the discussion has also attracted attention of every retailer and mall operator: How to balance/integrate the investment of online and offline in a longer term?
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You are most welcome to contact any Geolytix colleagues to get the latest Geolytix Report: “Retail Trend Watch in Mainland China: 2019 Review and Outlook”, which is focused on three questions:
- In the context of OMO (Merge of online and offline) period, who are the “emerging forces” occupying prime retail spaces in mainland China?
- What kind of changes are taking place in the retail landscape?
- What is the key in balancing/integrating the investment in the era of “omni-channel” retailing?
* "Top 10 Consumer Cities in China" is ranked according to the total retail sales of consumer goods in 2018, which are: Shanghai, Beijing, Guangzhou, Chongqing, Wuhan, Chengdu, Shenzhen, Nanjing, Suzhou, and Hangzhou
* Cover Photo: Emerging Leisure brands in China – Pop Mart, which opened more than 400 normal stores and over 500 robot stores nationwide in 2019.
Coco Lin, GEOLYTIX
Coco Lin, GEOLYTIX