Shoppers visit JD Mall's Shanghai Qibao outlet during events marking its one-month anniversary in July. CHINA DAILY
More than 8,400 brands have chosen Shanghai as the location for their first stores, and while the reasons behind each decision may vary, they all point to a shared recognition: the city's powerful appeal to brands from around the world.
The debuts include global, Asian and national firsts.
For international brands, launching their China stores in Shanghai offers a valuable testing ground for entering one of the world's largest consumer markets. A successful debut in the city is often seen as a strong indicator of the broader potential in China. For homegrown brands, meanwhile, establishing a presence in Shanghai provides a springboard for expanding beyond domestic markets and reaching global consumers.
"This marks a new stage in Shanghai's 'first-store economy', shifting from one-way brand introduction to a more dynamic exchange between global and Chinese brands," said Kelvin Li, managing director of East China at Cushman & Wakefield, a global real estate services firm.
