China’s “First-Store Economy” fuels urban growth as brands are opening their new stores in various regions.
As new brands play a pivotal role in attracting customers to urban commercial spaces in China, the continuous growth of the “first-store economy” is fueling greater consumer interest.
The first-store economy is a model where regions use their unique resources to draw both domestic and international brands to open their first stores in these areas.
This model is a key part of the “debut economy,” a consumption strategy where brands launch new products or services to capture consumer attention and boost sales.
By concentrating these stores through favorable policies and services, the goal is to foster business innovation, encourage consumption upgrades, and stimulate local economic growth.
Currently, first stores are becoming a major driver of foot traffic, significantly benefiting commercial complexes.
For example, when Haidian Joy City in Beijing opened in December, nearly 30% of its stores were debut locations. On opening day, the mall drew over 216,000 visitors and achieved sales of around 17.8 million yuan ($2.43 million).
“I find first stores intriguing because they offer a totally new shopping experience. My curiosity always leads me to visit and explore them,” said consumer Yang.
According to Beijing’s Bureau of Commerce, around 900 first stores, both international and local, were opened in the city in 2024.
As a driving force behind urban commercial growth, this emerging business model not only attracts high-quality stores like first stores, flagship stores, and concept stores, but also sparks the creation of new products, services, and business models, boosting consumer activity, industrial upgrades, and economic expansion, said Lai Yang, executive vice president of the Beijing Commerce Economy Association.
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