1、Greater China Research|July 2024SHOPPING CENTRE UPGRADING IN CHINA:NEW CONCEPTSTO CHANGEPERCEPTIONSCONSUMER DEMAND ACCELERATES CHANGE IN CHINAUNLOCKING CONSUMPTION TO PUSH POTENTIALKEY TAKEAWAYSPart 1Part 2CONTENTS Continuous optimisation of the consumption structure The popularity of interest-drive

2、n consumption Avoiding the trap of consumerism The rise of“dopamine consumption”The upgrading of county-level consumption Non-standard shopping centres-A new solution for urban renewal differentiation“Black technology”-Creates new consumer experiences Creative fairs Add vivacity to the shopping expe

3、rience New performing arts spaces-A new driving force for consumption Micro vacation-Offering relaxed commercial retail spaces071930CONTENTSEXECUTIVE SUMMARYIn 2024,thanks to pricing stability and the implementation of a series of policies to stimulate domestic consumption demand,the scale of Chinas

4、 consumer market continued to expand.Cultural consumption,tourism consumption,digital consumption,green consumption,and health consumption have all seen continued growth.Additionally,new retail models such as“instant”retail,social e-commerce and social customer relationship management are also devel

5、oping rapidly.Looking ahead to the future,the Chinese retail market still holds enormous potential.Under Chinas common prosperity programme,middle-income households have been growing in number during the“14th Five-Year Plan”period.Consumer demand from residents is accelerating and will continue to a

6、ccelerate change in China,along with the gradual growth of their income.Retailers and shopping centre owners in China are constantly innovating new consumption scenarios,new retail segments and new business models,so as to explore and foster fresh consumption growth points.To keep abreast of the lat