2020
0
China Shopping Malls Market Report 2020
2021-01-14T03:02:32+00:00
OX990354
3695
131861
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Report
en_GB
“E-commerce poses the biggest threat to shopping malls and the outbreak of COVID-19 has exacerbated the situation since consumers now worry about infection. Fortunately, consumers’ shopping mall visits seem to…

China Shopping Malls Market Report 2020

£ 3,695 (Excl.Tax)

Report Summary

Providing the most comprehensive and up-to-date information and analysis of the China Shopping Malls market, including the behaviours, preferences and habits of the consumer.

The pandemic has caused major upheaval across all retail markets, with the sudden shift towards shopping online changing the way that consumers buy products. The closure of most non-essential businesses upon initial lockdown measures saw more consumers buying more diverse products online. Ecommerce was already becoming a major competitor to shopping malls, but the pandemic has accelerated this.

However, while consumer confidence with using ecommerce platforms has increased, shopping malls have not seen any major impact after lockdown measures were lifted, seeing similar numbers to pre-pandemic. Customers have become more demanding, wanting more social and community-oriented spaces such as restaurants, libraries and early education institutions.

This report covers the current state of Chinese shopping malls and how they have faired throughout the COVID-19 pandemic. It also addresses ways in which consumer demands have changed, and opportunities that brands and companies can utilise to boost market recovery and encourage foot traffic.

Read on to discover more details or take a look at all of our China Retail market research.

Quickly understand

  • The impact of COVID-19 on shopping malls.
  • Launch activity and innovation.
  • Consumer attitudes and behaviours towards shopping malls.
  • Growth opportunities.

Covered in this Report

Brands: Joy City (大悦城), Tianjin Poly Plaza (保利购物中心), Zongnan City Shopping Mall, Shanghai Sun Moon Light Center (日月光购物中心), Wangfujing (王府井), Cha Yan Yue Se (茶颜悦色), Shanghai Metro City (美罗城).

Expert analysis from a specialist in the field

Written by Pepper Peng, a leading analyst in the Research Asia-Pacific sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

E-commerce poses the biggest threat to shopping malls and the outbreak of COVID-19 has exacerbated the situation since consumers now worry about infection. Fortunately, consumers’ shopping mall visits seem to have returned to normal after the home quarantine period. But consumers’ requests have become more demanding. The role of shopping malls is expected to be a community-oriented place with multi-functional facilities and services that can satisfy social and familial needs in the future. Growing consumption power, upgraded lifestyles on the demand side, along with new retail formats and technology on the supply side will help that goal to be achieved.

Pepper Peng
Research Analyst

 

Table of Contents

  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Scope and definitions
  2. Executive Summary

    • The market
    • The market is threatened by e-commerce but still driven by growing consumption power
      • Figure 1: Short, medium and long term impact of COVID-19 on shopping malls, November 2020
    • Companies and brands
    • Key players continue enriching business models
    • Reclaim the mall with non-shopping services
    • Use novelty to attract consumers
    • The consumer
    • Shopping mall visits bounce back after COVID-19 recedes
      • Figure 2: Comparison of shopping mall visiting frequency before and after COVID-19, January and July 2020
    • Convenient locations are vital and family-oriented activities are popular in lower tier cities
      • Figure 3: purchase drivers in shopping malls, January 2020
    • Shopping mall is the priori channel to buy food and drinks
      • Figure 4: Purchased Products in selected channels, January 2020
    • Aftersales service and in-store experience vital for multi-brand stores
      • Figure 5: Purchase factors for multi-brand stores, January 2020
    • Novelty providers make shopping malls more charming
      • Figure 6: Attitudes and behaviours towards shopping malls, January 2020
    • What we think
  3. Issues and Insights

    • Community centres with integrated functions drive traffic
    • The facts
    • The implications
    • Getting involved in New Retail formats to increase novelty
    • The facts
    • The implications
    • Establishing malls’ personalities via phased theme events
    • The facts
    • The implications
  4. The Market – What You Need to Know

    • Better-off consumption power is still the engine
    • E-commerce is a lurking threat to shopping malls
  5. Market Factors

    • Growing consumption confidence after COVID-19
    • Upgraded lifestyle pursuits
    • Preferential policy led by government
      • Figure 7: Information about “5th May Shopping Festival” in a shopping mall in Shanghai, China, 2020
    • Enhance experience pushed by online press
  6. Key Players – What You Need to Know

    • Keep upgrading portfolios and bet on the debut store economy
    • Innovation: multi-functional community-oriented malls
  7. Competitive Strategies

    • More comprehensive business models
      • Figure 8: Joy Breeze in Beijing, 2020
    • Themed street stalls campaigns
      • Figure 9: Examples of various themed night markets at shopping malls, 2020
      • Figure 10: League of Legends S10 Finals themed night market in Shanghai SUN MOON LIGHT CENTER (日月光购物中心), 2020
    • The debut store appeal
  8. Who’s Innovating?

    • Less commercially-focused, more service-oriented
      • Figure 11: The Forum Complex, The Netherlands, 2020
    • Leverage the power of technology
      • Figure 12: Animatronic sheep in SKP, December 2019
      • Figure 13: T#E TRENDING STORE, UK, 2020
    • Focus on caring during COVID times
      • Figure 14: Bicycle repair station at SM Mall, Philippines, 2020
      • Figure 15: Blood donation station at Aventura Mall, Peru, 2020
  9. The Consumer – What You Need to Know

    • COVID-19’s impact on shopping mall visiting frequency is low
    • Convenient location is the key driver for visiting more
    • Better aftersales service is most important for multi-brand stores
    • Consumers demand novelty not just shopping
  10. Frequency of Shopping Mall Visits

    • Increasing offline shopping footfall after COVID-19
      • Figure 16: Grocery shopping channels used in last month, February – November 2020
    • Non-essential consumption drives fast recovery for shopping malls
      • Figure 17: Comparison of shopping mall visiting frequency before and after COVID-19, January and July 2020
    • Target post-90s and high household income consumers for shopping mall marketing after COVID-19
      • Figure 18: High-frequency consumers in shopping mall visits, by generation, January and July 2020
      • Figure 19: High-frequency consumers in shopping mall visits, by monthly household income, January and July 2020
  11. Drivers for Visiting Shopping Malls

    • Convenient location is most important
      • Figure 20: Drivers of visiting shopping malls, January 2020
    • Diverse visit drivers across different city tiers
      • Figure 21: Selected drivers of visiting shopping malls, by city tier, January 2020
    • High-frequency consumers welcome technology in designs and services
      • Figure 22: Drivers of visiting shopping malls, by visiting frequency, January 2020
  12. Purchased Products in Shopping Malls

    • Take advantage of foodservice and drinks to maximise shopping mall traffic
      • Figure 23: Purchased products in selected channels, January 2020
      • Figure 24: Consumers line up for drinks in front of CHA YAN YUE SE’s debut store at Wuhan Tian Di in Wuhan (武汉天地), China, 2020.
  13. Purchase Factors of Multi-brands Stores

    • Better service and uniqueness are the killer drivers
      • Figure 25: Purchase factors in multi-brand stores, January 2020
    • Females in their 30s favour alternative brands and styles most
      • Figure 26: Purchase factors in multi-brand stores, by gender and age, January 2020
    • Additional in-store services help to attract families with kids
      • Figure 27: Purchase factors in multi-brand stores, January 2020
  14. Attitudes and Behaviours towards Shopping Malls

    • Focus on experience in shopping malls given online channels’ threat
      • Figure 28: Attitudes and behaviours towards shopping malls, January 2020
      • Figure 29: % of preferring shopping online to offline, by city tier and monthly household income and marital status, January 2020
    • Novelty and incentives need to be enhanced
      • Figure 30: Typical attitudes and behaviours towards shopping malls, by generations, January 2020
  15. Meet the Mintropolitans

    • Mintropolitans tend to be shopping mall influencers
      • Figure 31: % who post about special events of shopping malls on WeChat Moments, by consumers segmentation, January 2020
    • Mintropolitans show off lifestyle with appealing restaurants and premium brands
      • Figure 32: Typical purchasing driver, by consumer segmentation, January 2020
  16. Appendix – Methodology and Abbreviations

    • Methodology
    • Abbreviations

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

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