Shanghai leads China in first store openings

A light show is on in Shanghai Panlong Tiandi in Shanghai on Sunday. Shanghai Panlong Tiandi is a new lifestyle and commercial project developed by Shui On Group. [Photo/China Daily]

Shanghai is the most favored destination in China when it comes to the opening of first brand stores in the nation, according to the Shanghai Municipal Commission of Commerce.

The city welcomed 1,073 new first stores in 2022 and another 375 in the first four months of 2023.

The month-long Shanghai Global New Products Debut Season, which started on May 7, saw the release of the Shanghai "First Store Map", a guide that helps consumers find the most innovative and creative shopping experiences in the city.

The first store economy refers to the economic benefits generated by enterprises or brands launching new products or services for the first time in a certain region or market.

The season is aimed at promoting the healthy development of the economy and boosting consumer confidence and spending.

More than 150 flagship first stores are expected to open in Shanghai during the season, which will feature four major launch events, various brand themed activities and a closing ceremony. The season will also highlight the new consumption trends and models that are emerging in Shanghai.