welcome to china these are the mega
billion dollar shopping malls
china is both a large and fast growing
retail market worth about five trillion
dollars in 2020 and highly digitized
the revenue from the department stores
and shopping mall industry has increased
at an annualized two percent over five
years through 2022 to a total of
285.9 billion
shopping malls in china have come to
signify a culture of ultra consumerism
and newer luxury malls like skp in
beijing or plaza 66 in shanghai showcase
the prestige
malls like the ifs in most major cities
in china provide enchanting luxury
retail destination shopping malls per
capita in mainland china are
surprisingly only 10 percent of the
amount in the us
an under supply of malls especially in
prime locations has been a constant
obstacle facing luxury brands in china
demand for luxury goods in lower tiered
cities drive the expansion of luxury
retail infrastructure
china had already surpassed the world in
digital development and adoption
and yes china online sales have grown to
about 25
in each of the past seven years and
reached about 1.9 trillion in 2020 when
they amounted to some 25 to 50 percent
of total retail compared to 10 to 20
percent in the united states
however with kovid 19 related lockdowns
lifted on most cities access to physical
stores resumes and so does shopping the
phenomenon of retail is now as new as
ever in upscale malls that have slowly
become leisure destinations
a new generation of malls are opening up
like sports themes wellness concept
shopping and even indoor theme parks
which always attracts families
the emergence of the so-called smart
malls will continue to blur the
boundaries between physical and digital
retail spaces blended virtual and
physical experiences creating the
metaverse retail trend
digital channels may be effective for
lower price and repeat purchases like
beauty products but the mall offers
luxury brands a dedicated space to
connect with first-time consumers
live commerce what started as an
experiment to interact with consumers in
a live show has transformed into a
multi-billion dollar industry in just
the space of a few years
taobao live which has a live commerce
market share of around 80 percent
generated over 61 billion dollars in gmb
in 2020
on to the local brands as a result of
covet 19 consumers shifted their
spending from outside of china on things
like travel hotel accommodation and
overseas shopping to domestic spending
on the chinese products
so what are the major chinese homegrown
brands the rest of the world knows so
little about besides the well-known
names like huawei and lenovo you might
want to take note of
idea is the world's largest producer of
electronic home compliance with more
than 150 000 employees and presence in
over 200 countries including the united
states of america
li ning is the chinese leader in
athletic apparel and footwear rooted in
the vision of its founder and namesake
the champion gymnast mr leaning
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is a chinese designer and manufacturer
of consumer electronics and related
software home appliances and household
items behind samsung it's the second
largest manufacturer of smartphones in
the world
maotai elite alcohol brand has become
china's most valuable publicly traded
listed company it manufactures and
distributes a unique brand abajo a clean
and clear colorless liquid which is
considered china's national spirit
dubbed the bentley of china hong chi is
the luxury car brand panchay is also
china's oldest passenger car having been
founded in 1958
the name literally translates to red
flag as in the early days where use
primary to cart government officials
around
you've likely shopped at zara but have
you heard of urban revival
the founder businessman visited one of
zara stores in japan when the spanish
company still had no presence in china
and decided to bring the same concept to
his country striking a perfect balance
between quality and value
founded in 1976 by taylor turned
entrepreneur bo sedang focuses on down
jackets the quality and warmth of its
down jackets have earned a high
reputation both domestically and abroad
its jackets became number one global
sales for global down jacket market
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physical shopping malls still matter in
china yet malls in the future will look
quite a bit different than malls of the
past
here are some of the biggest
world-renowned malls in china
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so
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you
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that's right found in china has china
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