Shenzhen witnessed the opening of 19 first stores by international brands in the first quarter of this year, accounting for over 20% of all newly established first stores.
The increase in international brand presence, predominantly in the realms of apparel retail and dining, underscores Shenzhen's burgeoning allure for global players in the market, Shenzhen Special Zone Daily reported.
The "first store" term refers to a brand's inaugural brick-and-mortar establishment within a specific geographically defined market, which could be a city, province, country, or region.
Shenzhen recorded the opening of 92 first stores by domestic and international brands in the first quarter of this year, about double the amount of first stores that opened during the same period last year. The 92 new first stores included 16 first stores in China, 34 first stores in South China, and 42 first stores in Shenzhen.
Dining establishments accounted for 53 of the new first stores, while 29 were dedicated to retail, including 11 clothing brands.
The preference for high-end shopping malls as prime locations for first stores was evident, with the recently launched Qianhai Uniway shopping mall attracting 35 inaugural outlets.