Global Retail City Profiles China
Shanghai
One of the wealthiest and most cosmopolitan cities in all of China, Shanghai has attracted more international brands than any other city on the mainland. In fact, Shanghai’s international brand presence now ranks second in Asia, lagging only behind Hong Kong. All of these factors make Shanghai a strong and natural choice for global retailers planning to enter or expand in the huge China market. The city is also a key market for domestic retailers seeking to broaden their customer base and build exposure. Notable recent entrants to Shanghai include Lululemon, Calzedonia, Victoria’s Secret, and Gentle Monster, as well as the first Starbuck’s Roastery and Reserve Tasting Room outside of the US.
High street Shanghai’s European heritage has left it with a better developed high street scene than most mainland Chinese cities. Nanjing West Road is the street of choice for upscale shoppers, with the Plaza 66 mall serving as one of the city’s top luxury shopping spots. Meanwhile, the pedestrianized Nanjing East Road is popular among tourists, who flock to the street’s flagship shops and department stores. Huaihai Middle Road is a key downtown shopping area, where several malls are repositioning from a traditional focus on high-end offerings to embrace sports and lifestyle tenants as well as premium fashion brands. With flagship stores lining the street, major brands use the prominent location to promote greater visibility in the market.
Shopping centers Shanghai has the highest level of shopping mall stock in China, and over the years, this has evolved into several core districts and decen- tralized submarkets. In the core retail area, foreign developers such as CapitaLand, Hang Lung, and Sun Hung Kai have established some of the best-quality and best-performing malls in the country. Rising competition and pressure from e-commerce have led many players to roll out new concepts that are redefining the Chinese shopping mall experience: for example, K11 mixes traditional shopping with an art gallery-theme to appeal to educated, middle-class shoppers, while Joy City targets the youth market with food, fashion, and DIY arts and crafts brands. Meanwhile, the outward expansion of metro lines and residential populations has stimulated the development of numerous decentralized shopping hubs throughout Shanghai. This has resulted in fierce competition in decentralized areas, but the strongest projects enjoy some of the highest foot traffic in the city and are popular choices for retailers seeking to expand their pres- ence beyond high-profile, downtown locations.
Shopping center IAPM
HKRI Taikoo Hui Kerry Centre (Ph2) Plaza 66
Raffles City (People’s Square) Hong Kong Plaza K11
Opening year 2013
2017 2013 2001 2003 1998 2013
Size (sqft) Location 1,292,000
City Center
1,076,000 City Center 926,000 570,000 414,000 409,000 377,000
City Center City Center City Center City Center City Center
Note: *Figures are estimates based on available market information. Mall size is based on GLA. Source: JLL 2018
Population 25.2m
Prime rent (sqft/year)
US $632 Prime rental information for Nanjing Road East
Rental growth outlook
Key indicators Population (‘000s No.)
GDP per Capita (US$, Real, PPP) GDP Forecast 2018-2022 (% pa)
Retail Sales Forecast 2018-2022 (% pa) Global CBRA Rank (Out of 140 cities)
Border Retailer Attractiveness Rank
25,202 36,130 6.2 7.6 6th
Key retail entrants Source: JLL, Oxford Economics (May 2018) Global CBRA Rank = Global Cross
Lululemon 8 Seconds Calzedonia Birkenstock Line Friends
Key tenants
Bulgari, Valentino, Kenzo, Hugo Boss, Michael Kors, Gucci, Prada Lululemon, Nike, Adidas, Tesla, Coach, Sandro, Maje, Michael Kors Abercrombie & Fitch, Longchamp, Burberry, Issey Miyake Bulgari, Céline, Giorgio Armani, Louis Vuitton, Chanel, Prada Victoria’s Secret, Vivienne Westwood, Michael Kors, Bobbi Brown Apple, Cartier, Tiffany & Co.
Max Mara, Dolce & Gabbana, Burberry Copyright (c) JLL IP, INC 2018
Disney Store Gentle Monster Victoria’s Secret Legoland Discovery Center
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