大中华区零售供需趋势：通过创新发展

ADVANCING THROUGHINNOVATION SEPTEMBER 2024 EXECUTIVESUMMARY The GeneralMarket S'nce 2c2/, Crina has laJrcred seria= ct "Ccrsumpticr Prooticr Ye-"etivitiz? te p'ormore tre "olo her new orcduct trace ir" pplicy, tiereby testerirglsterdy co 1slmot'o1 growth. Prcvicirg 'Lrther suEpor: tcr econcrm'c ra=cvery.Cina's totl retail sal== of consu mer gcocs reachecl RMB23. r Ilion in H1 2o2.up 3.7% y o y. moenum into tre tutJre as new types ct ccrsumpticr will con.inue to ererg=. by introclucing new teciro cg es, new retail 'ormsts, and rew mocel: tccortirlojsly iprove service and shopp'ng experizrcas. n ter ms o' supply aidcemand. te msin tocus treids :h's yea'are ss fcl ows:. By Q2 2o21. the tota prire retail orcpe'ty stock in tre core markets in t7e 16Ma,o- citia in crester Chira we trac< cctalled 112.5 mi licn sq m. Tre ccmoesitionir the Ch'nese retail orcpaty ma'ket has fjrther intarsitied.vhile som= wellooerated shopp'ng centra: continJed to uogrrda their faci ities. their orancmixture d t1=ir servica= tc a:tract consumers, scme oter Jnd=rpto*mingshcpoing cen.res cont nuecl to see tenant leaksge. erding to tur:h' divergenceir terms ct bsiness oertor mrnce nmongs: retai sroppiig ca-tre orcjec:s. ••••Traditicral comnercin retnil orcjec: upgracling:Retai proper-y C REITs:Cu cural anc to Jris n consunption, and;Green ccrsumpticr ooking at :ha 'ncivicual major cities ir Greatar Chira, many domesti= ardincernat'oial borands ccntiruec to exoanc treir bl siress I nes durirg the past year. Maanwhile, the Thirc P enary Session ot the 2o:h CFc Central Conmitteeemohas sed the impo ta 1ce o' =t'vel: exprding co mes.ic cemand.ccelertiig the davalcpment ct a complete domesti= consumption demardC rina': seyice consumpticn is expacteo to ma n:air scl.no deve oomen: Glob:l eccromi= waakness ard clcmest'c eccromic slowdown sro Jlc lead tomore cautious sperding. However, ir cons deraticr cf tre increasirg disocaoletor tia level cf rata I market grow:h is tfat it is exoec:ed tc con.inue to remain in SHANGHAI GUANgZHOU BEIJING SHENZHEN ma met.J reaaree st.ppait to the cirawtlpast year. 7/ snoppingi c.artras we:leronpleted m 11> 2c2. arn 11 >0>4. silangnalaclcled over 1.56 mi lor s: M af naw piimeetail slpn y urig te: ast yeal. nglng tnitys pr me: reta 1 stock tc: annrox mately 7.:.4m Ilic* so IY. Ihne cpenllng af r a:: :ralc:: 1 r>s wilhTh: tpnirg oi more shofis, 'n sfifing c:lr:.Ihn FN :.l h:1. or .he: 1 yna. Au>m:in:l :n l Fosi.ivc: 1an;li>r; )vc: c:citywide vacancy rate oawn o. percentageoIrts from I1 2z. to H.4%. a record low sllncez 2tz2. Pr me space 'ental levelsas , r.Jarter tc, RMl12.1 par Ac m per mo nt2,reflect ng lanclrcls' casitive attitt.eas :owarosthna ma'ret. Th (ivrall cc:.r r ara: r:ar ain.prassure. Altnou cu semer footfall hasreboundled a lot over tre past vecr, treove 'u I cor'st, mption power rorr ai': 'subdu ud.As l H1 7074, .h ,viragr: t.k'ng rc1.al inrne c. ty drcppexl sligntl t -M1z,20 e sm pe* mn.h, ancl th vacsncy rate rses ight + to 10.6%. signi'ital ly. Pr'm: sh:>>>ing txen.ro in ca>r<:subimarkets with supe"o- loc.ans al?strcrg ope'atkonal cacabilities cantle t bethe first r ice for :elants whel openingl newstores, ald vacacy rates In acre st αmarketslk la : A to euvacancy rate rosa y 1.1 nercantacle p nts y-me j noe ,e : ar s"Supp y * ol'-cate st.bmaikets. cortint.ad to see: the avetag vac.ancy ra.eaap. in saite af a arg almlnt f new slpp yer'tengi tne marke: d.drig :he naat year. Liyfor silharg a s micl- : higlh-ard shoppincrentres rrasecl t 9..5z%. dcw .6paraentaga polnts -o-c ancdl c.26 ne:antagepalnts y-a-y. 1is Is, tne lawest vaaancy ratefor silnarga's prm*a ieta I praparty markets nca c27. rdamnsrrating an 1nahatexgrow ng aanard *nr pr me: rn:all space frammany brars. I thu purst yar, Brij ng's reteil rr'arku. nl'sbr shr:cily -ifigr adr:d. Slc::irg cenireshave t.o atir .Jecl ro drversify thelr brands, andfashior reteil nd casu=l -arerir brars inpart'cular, have sean posiive lousinessperformec. new s.Jpply throt gn to the encl cf 2i325. Lt.xuryαrancls are exparirg. whil more shaps withIr novative elemen:s alnd Jnlct. xperlences areset ta open. with a ole prcactive s.rate-dy fLIl Julalaacaclul auy pue n bu ueoIrfrastr.Jc.tu'e. :urists from otrer ca.Jtrles a nclfra m tlhie wester sicle of :he Fearl K ver Lstualyale expecteo to ct the rew crivirg "arcesceh ncl he crowtn af silanzinen's ca nsuipt on.Ihe ttade-Ir o" cold consumer goods. thetha opt misat an af the busles enviranmertlvers catio c" con.Jptin scearios amay alsa hel :α noost cans.Jnpt