Business
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A shopping center opens in the Binhai New Area of Tianjin. [Photo/People.com.cn] |
As the business environment becomes more mature and the retail market grows rapidly in the Binhai New Area of Tianjin, many new projects in Yujiapu and Xiangluowan have formed new commercial circles since 2010.
Several comprehensive shopping centers including the Baolong City Square and the Youa Outlets have been launched since the end of last year. The launch of new projects not only promoted the business market, but also changed the formats of the comprehensive shopping centers. A new batch of more flexible small-scale comprehensive shopping centers will be launched next year. The positioning of commercial circles will be further segmented.
Jinyuanbao Shopping Mall had been the only leading commercial circle in the Binahi New Area for a long time. Several new shopping centers have been launched since 2012. The market with only one major player has been turned into a livelier format. Nowadays, the market is led by three major players – Financial Street Circle, Yongwang Circle, and MSD Circle.
As the rise of the Yujiapu Commercial Circle represented by the Baolong Square in the first half of the year, the fourth major player appeared. A new wave of comprehensive shopping centers opened in the second half of the year, the group of the fourth major player has been further enhanced.
“The launch of several large-scale shopping malls marks the arrival of a new era of the commercial real estate in Binhai New Area. The previous focuse format has been turned into decentralized format. Large-scale comprehensive shopping centers started to appear in the blanked areas located in the west and north. The change has brought more choices to the residents and make their lives more convenient,” said Wang Tingting, chief market researcher at the Shenglong Real Estate Corporation.
The comprehensive shopping centers will experience fiercer competition and become more segmented this year, said Wang. The Baolong Square is featured with large number of catering. Youa Outlets is focused on the discounted products by global famous brands. The MSD Yourth Square is famous for full-structural consumption.
Wang said that the electronic commerce gave huge strike to traditional shopping malls in the recent two years. Especially this year, many large-scale shopping malls exited Tianjin market. Therefore, the market space brought by differentiated competition and segmented industry should be the best business opportunity for shopping malls, added Wang.
“From the aspect of commercial consumption, the ecological city needs the support of comprehensive business. Our project focuses on the commercial comprehensive projects in cultural industry. We will specially attract featured merchandisers to create cultural atmosphere while doing business,” said Shi Chuang, who is responsible to the first business supporting project recently launched in the ecological city.
The project has brought out the differentiated competition idea in the beginning of its launch. The business format will not only satisfy the general consumption, but also upgrade through differentiated positioning following the development of the ecological city. The ideas of “culture”, “ecology”, and “tourism” have been further enhanced.
