Shanghai

Shanghai has long been an oasis of international shopping. It is increasingly a global financial and economic center and is the headquarters location for the majority of China’s retailers.

Retail sales for 2014 reached ¥871.87 billion. With a population of just over 24 million and among the highest disposable incomes in China, Shanghai is the second largest retail market in the country by retail sales after Beijing. Tourism also adds to the already high levels of purchasing power. The current stock of shopping centers and department stores in Shanghai is roughly 5.45 million square meters.

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Cushman & Wakefield Inc, Shanghai

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West Nanjing Road : 31.229724, 121.459716
East Nanjing Road : 31.236320, 121.484864
Xujiahui: 31.196030, 121.439964
Lujiazui: 31.236793, 121.497281
Middle Huaihai Road: 31.215790, 121.456735
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WEST NANJING ROAD

West Nanjing Road is Shanghai’s main high-end retail street, where Hermes, Louis Vuitton, Prada, Chanel, Gucci and other high profile names can be found on the western side of the road. The eastern portion of the West Nanjing Road is emerging as a key fast fashion destination with H&M, Uniqlo, Gap and American Eagle present. The area keenly awaits the opening of the Swire Dazhongli Project, starting in phases from 2016 onwards, boasting 99,000 sqm.
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MIDDLE HUAIHAI ROAD

Middle Huaihai Road is home to an exciting mix of fast fashion and luxury brands and is popular with Shanghai fashion lovers, with the popular F&B area Xintiandi only blocks away. With the openings of IAPM and K11, both in 2013, the area has welcomed major stores such as Apple, Jimmy Choo, Tory Burch, Gucci, and Dolce & Gabanna.
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XUJIAHUI

Xujiahui is a mature retail submarket whose buildings are well-served by public transportation and connected by walkways, with a wide range of department stores and shopping centers including strong performer Grand Gateway 66. In recent years, Grand Gateway attracted Loewe and Vivienne Westwood, upgrading its tenant mix.
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LUJIAZUI

Lujiazui is Shanghai’s main financial center, and as such the retail centers here tend to be more upscale. The area boasts two mega-malls, Super Brand Mall and IFC Mall. The IFC Mall is currently one of Shanghai's most appreciated luxury malls, with anchor tenants such as Gucci, Bvlgari, and Cartier
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EAST NANJING ROAD

East Nanjing Road is a traditional mid-market retail area and one of the most popular pedestrian streets in China. The pedestrian area has 600,000 sqm of retail space and attracts tourists from all over China. The area has seen an increase in international fast fashion brands, notably the opening of the Forever 21 flagship store in late 2012.

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Cushman & Wakefield, Inc. - Shanghai Shopping Centers

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Plaza 66 : 31.227691, 121.454067
Grand Gateway: 31.194443, 121.437248
Kerry Center: 31.255891, 121.482488
IAPM: 31.214865, 121.458618
IFC Mall: 31.236272, 121.502540
Raffles City: 31.232178, 121.476540
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Plaza 66


Plaza 66 is situated on Nanjing West Road. This shopping mall is focused on the luxury segment, with an impressive array of global luxury brands, such as Louis Vuitton, Prada, Balenciaga, Chanel, and Hermes.
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Grand Gateway


Grand Gatway is the busiest shopping mall in Xujiahui with the greatest variety of brands, F&B and entertainment. Grand Gateway’s L1 is devoted to high end brands, and there is a significant waiting list of brands wanting to enter the project.
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Kerry Center


The Kerry Center saw the completion of its phase 2 project in late 2013, becoming another luxury hub on Nanjing West Road targeting middle to high income consumers seeking trendy luxury fashion and innovative design brands. Key tenants include Burberry and Abercrombie & Fitch.
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IAPM


The International APM Mall offers office, residential, and retail space on Huaihai Middle Road. The largest mall in that location, Mulberry provides a full product range in their IAPM location, the first store opened by the brand in China, and Givenchy has announced a new flagship store in the center.
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IFC Mall


IFC Mall is one of the most luxurious malls in Shanghai. Unlike its major competitor Plaza 66 in Puxi area, IFC has a larger retail GLA allowing it to cover a more comprehensive range of categories, and a broader range of price points.
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Raffles City


Raffles City is one of the most popular fashion landmarks in Shanghai, targeting younger consumers. Raffles is targeted by many mid level international fashion brands , including Marc by Marc Jacobs, Kate Spade, Juicy Couture, Michael Kors, and Samatha Thavasa.


SHOPPING CENTER TO WATCH OUT FOR
DAZHONGLI
Total Size (Sq.m) 323,000
- Retail GLA99,000
- Leisure/Entertainment GLA56,000
- Office GLA168,000
Planned Opening Date 2016
Consumer Profile Middle-High Income Consumers
Description A mixed-use project incorporating offices, hotels, and retail shopping mall. On Nanjing West Road, the project will be located by the existing metro line 2 and the planned metro lines 12 and 13.

MARKET OVERVIEW
KEY AREAS / STREETS/SHOPPING CENTERSCONSUMER PROFILEMAJOR RETAILERS PRESENTNEW ENTRANTSTYPICAL RENT FOR UNIT OF 2,000 SQFTRANGE OF UNIT SIZES
PUXI
Nanjing East Road International and domestic tourists Zara, Uniqlo, Gap, Mango, Nike, Lily, Baleno, MetersBonwe, Bosideng, LiningAzul, Apple, Hollister, Forever 21¥58 - 72 per sqm/day50 - 2,000
Nanjing West Road Regional and domestic Chinese luxury consumersHermes, LV, Gucci, Prada, Cartier, Tiffany & Co., Omega, Rolex, Uniqlo, H&M, SephoraChocolate, ASOBIO, Gucci, Gap, American Eagle, Apple, A&F ¥49 - 61 per sqm/day80 - 1,500
Middle Huaihai Road Mainly attracts local Shanghai professional workers and some international toursitsLV, Ermenegildo Zegna, Dolce & Gabbana, Burbery, Coach, Gap, H&M, Adidas FlagpshipApple, Prada, Miu Miu, American Apparel, Nike Flagship ¥40 - 50 per sqm/day 100 - 3,000
The Bund Luxury consumers from Shanghai and across China together with Expat visitors and workers Giorgio Armani, Dolce & Gabbana, Rolex Flagship, Swarovski, Chanel, Prada, PIAGETBV, Gucci ¥49 - 61 per sqm/day 150 - 800
North Sichuan Road Expatriates and affluent residents living and working in surrounding areas. Canali, Mont Blanc, Givenchy, Lacoste, Levis, Hazzy’s Zara, Sephora (soon opening)¥16 - 26 per sqm/day 150 - 500
Zhongshan Park Targeting middle income residents in the west part of Shanghai. i.t., CK Jeans, H&M, C&A, G-StarUrban Renewal, Charles & Keith, Bread N butter ASOBIO ¥29 - 35 per sqm/day 150 - 1,200
Hongqiao Expatriates and affluent residents living and working in surrounding areas. Canali, Mont Blanc, Givenchy, Lacoste, Levis, Hazzy’s Zara, Sephora¥22 - 28 per sqm/day 150 - 500
Wujiaochang Targeting local residents living in the surrounding area.H&M, Sephora, Uniqlo, Zara, C&A, MujiSasa, ASOBIO, Charles & Keith, Urban Renewal¥25 - 31 per sqm/day 80 - 800
Caojiadu Targeting local residents living in the surrounding area.H&M, Uniqlo, Zara, Asobio, OchirlyBread N Butter, Charles & Keith, The Face Shop, Sasa ¥9 - 11 per sqm/day 150 - 900
PUDONG
Lujiazui Wealthy financial center workers, residents from surrounding areas, and international and domestic toursits Hermes, LV, Gucci, Prada, Chanel Burberry, Dior, Giorgio Armani, Next, Muji, H&MClub Monaco, Charles & Keith, Bottega Veneta, Apple¥27 - 36 per sqm/day 100 - 500

Data as of April 2015

Shanghai’s strong food culture, together with a large expatriate community and a significant Taiwanese population combine to create an interesting and varied food & beverage (F&B) scene.

According to the 2012 consumer action trend report released by Dazhongdianping, a Chinese lifestyle website, Shanghai consumer tastes have diversified further. The buffet style dining and Sichuanese food which topped rankings in previous years have lost ground while Western style food and food from Northwest China have enjoyed a surge in popularity.

Retail areas such as Lujiazui, Nanjing West Road and Huaihai Middle Road have a high proportion of fine dining, while The Bund and the French Concession areas are known for smaller and more intimate dining concepts.

MARKET OVERVIEW
KEY AREASCONSUMER PROFILEFOOD & BEVERAGE OPERATOR INCLUDINGRENT FOR 3,500 SQFT UNIT
Middle Huaihai Road (Xintiandi) Office staff, local residents and expatriates. Wagas, Element Fresh, Koyama, HARA, Cova, Hanlinxuan ¥15 - 30 per sqm/day
The Bund (Middle to North) Affluent local people and expatriates.Jean Georges, Mr & Mrs Bund, SUN with AQUA¥18 - 30 per sqm/day
The Bund (South) Fashionable young adults and expatriates.G Water Front, Kecabs on the Grille, The Steak and Oyster Bar¥15 - 25 per sqm/day
French Concession Affluent people both domestic and international.Franck, Maya, Shintori, Osteria, Lost Heaven¥10 - 30 per sqm/day
Nanjing East Road International and domestic touristsShendacheng, KFC, McDonald’s, Pizza Hut ¥15 - 30 per sqm/day
Nanjing West Road Regional and domestic Chinese luxury consumers.Thai Gallery, Palladio, Wagas, Element Fresh, Carl’s Junior, Awfully Chocolate, Yang’s Fried Dumpling¥15 - 25 per sqm/day

Data as of April 2015


Shanghai Contacts

THEODORE KNIPFING

Head of Retail Tenant Representation, China
Units 2606-2609, The Headquarters Building
168 Xizang Zhong Lu, Shanghai, China
Tel: +86 (0)21 2320 0808
Mob: +86 186 1695 0300

SARA GOUGARTY

Director, Retail Tenant Representation, China
Units 2606-2609, The Headquarters Building
168 Xizang Zhong Lu, Shanghai, China
Tel: +86 (0)21 2320 0843
Mob: +86 137 6110 4593

WEIYING GUO

Manager, Retail Tenant Representation, China
Units 2606-2609, The Headquarters Building
168 Xizang Zhong Lu, Shanghai, China
Tel: +86 (0)21 2320 0816
Mob: +86 139 1748 1947