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Chengdu & Xi’an | 2020 H1 | Retail:NEW SUPPLY PROVIDE OPPORTUNITIES FOR BRANDS TO ENTER THE MARKET

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Chengdu:Impacted by the epidemic, the total retail sales of consumer goods in the first five months fell by 8.9% YOY. Xi’an:No new malls opened in H1.

Dear Valued Client,
Chengdu:Impacted by the epidemic, the total retail sales of consumer goods in the first five months fell by 8.9% YOY. Several key trades saw significant store closures: food and beverage, children‘s experience stores, and education and training. This contributed to a slight rise in the vacancy rate.
Xi’an:No new malls opened in H1. The epidemic accelerated the decline of department stores, with Century GinwaZhujiang Plaza the latest closure, occurring in April. Meanwhile, although some shopping centre landlords have proactively provided rental discounts, a number of F&B and entertainment tenants suffered losses and closed down, leading to a small vacancy rise of 0.4pps HOH.

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Chengdu & Xi’an | 2020 H1 | Retail:NEW SUPPLY PROVIDE OPPORTUNITIES FOR BRANDS TO ENTER THE MARKET

Download Report