Shanghai, China - August 27, 2024

"First store" economy gains ground in China's Shanghai

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Shanghai is emerging as a major global retail hub that attracts brands and companies from around the world to set up regional or global first stores.

According to official information, more than 110 first stores opened in Shanghai in the first half of the year, with some making their Asian and international debut.

With those new additions, Shanghai now boasts the second highest retailer density worldwide.

This animation-themed shopping center alone houses some 40 retail shops, including three global first stores and 17 national flagship first stores.

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Li Ling, general manager, Bailian ZX shopping mall:

"In the 18 months since the project was launched, we have received more than 15 million visitors. A total of 40 brands have achieved cumulative sales of about 70 million U.S. dollars. In the first half of this year, we also held about 300 launches of new products."

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Data shows that from May 2018 to December 2023, Shanghai added more than 5,800 first stores, or about three per day.

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