Chongqing’s Three-Year Streak as One of the Most Favored Cities for First Stores

Chongqing - Chongqing has recently seen a surge in the "first-store economy" with global brands entering key business districts.

For instance, at MixC Mall in Jiulongpo District, French brand Maison Margiela opened its first full-category boutique in the city, alongside the outdoor brand Fjällräven. Meanwhile, at Times Paradise Walk in Yuzhong District, global lifestyle brand Sanrio has also made its debut.

These first stores span a wide range of sectors, from globally recognized fashion brands to highly sought-after categories such as dining and outdoor sports. While key commercial hubs like MixC and Times Paradise Walk remain focal points, new and emerging areas like The Ring are also attracting first-store entries.  

These brand debuts are just part of Chongqing's thriving first-store economy.

Win Data shows over 7,000 new first stores opened across 74 cities in China in 2024, marking a 36.18 percent year-on-year increase. Chongqing has remained among the top ten most preferred cities for first-store entries for three consecutive years.  

Data from the Chongqing Municipal Commission of Commerce showed that over the past three years, the city has hosted more than 120 launch events and welcomed 892 first stores from various brands.  

“The first-store and first-launch economy are important drivers in energizing a city's consumer market, acting as ‘boosters’ and ‘catalysts’ for continuously enhancing the city's level of international consumption,” said an official with Chongqing Municipal Commission of Commerce.

In recent years, under the coordinated efforts to build an international consumption center city, Chongqing has continuously optimized support policies, improved service levels, and actively fostered integrated development platforms. As a result, the first-launch economy has made significant progress, with first stores from brands across different business models finding a fertile ground for growth in the city, according to the official.

Consumer power and expanding malls: ideal for first stores

According to Chongqing Daily, strong consumer purchasing power is the core factor attracting the first stores to the city.

At 6 p.m. on March 29, a long line had already formed outside a Guizhou-based boutique fusion cuisine restaurant (the first store in Southwest China) located in Chongqing's The Ring shopping district. The store manager said the average spending per customer exceeds 100 yuan ($13.76), and since opening last September, foot traffic has steadily grown. The decision to open in Chongqing was driven by the city's consumption potential.

Consumer purchasing power is a crucial consideration for high-ticket brands. ANN ADELMAN, a French designer brand, opened its first store in Chongqing's The Ring shopping district last October.

"Our average transaction price ranges from 1,000 to 4,000 yuan, and our target customers are young and affluent," said the store manager. The Ring shopping district attracts a large crowd of fashionable young consumers, which aligns perfectly with the brand's target audience, making it the ideal location for their first store.

Data further supports the powerful purchasing power of Chongqing consumers. BASEMENT FG's first store in the Guanyinqiao business district sees an average of over 20,000 visitors per day, with annual sales surpassing 100 million yuan. The Arc'teryx, a globally renowned sports equipment brand, with its 100-square-meter store generates annual sales of 80 million yuan, ranking among the top in terms of sales per square meter in the country.

Chongqing's total retail sales of consumer goods reached 1.57 trillion yuan in 2024, a 3.6 percent increase from the previous year. It ranks second in growth among the five major international consumption center cities.

On the other hand, the continuous emergence of new commercial hubs provides the necessary infrastructure for the development of the first-store economy in Chongqing.

In recent years, shopping centers such as Longfor Paradise Walk, Wanda Plaza, MixC, Joy City, and The Ring have rapidly expanded. At least 14 new malls are set to open in Chongqing this year.

"Chongqing's strong consumption vitality and high-quality commercial infrastructure are creating a unique 'first-store economy ecosystem,'" said Li Ran, Director of Applied Economics at Chongqing Technology and Business University.

On one hand, the young consumer group's pursuit of a quality lifestyle has spurred strong demand for premium consumption; on the other hand, continuously upgrading commercial infrastructure provides brands with an ideal platform for display. These trends are further accelerating Chongqing's goal of becoming an international consumption center.

Chongqing supports long-term success in the first-store economy

Behind the constantly expanding first-store landscape in Chongqing is strong policy support.

The latest guidelines for supporting the first-store and first-launch economy, released by the Chongqing Municipal Commission of Commerce, state that eligible commercial management operators and third-party institutions, after being reviewed and included in the support program, will be comprehensively evaluated based on factors such as the brand level and number of first stores introduced, as well as the tier and quantity of first stores. Financial rewards of up to two million yuan and one million yuan will be granted, respectively. Additionally, enterprises (organizers) hosting first-launch events in Chongqing that meet the criteria will receive a financial reward of up to 1 million yuan.

As early as January 2024, Chongqing issued policies encouraging the development of the first-store and first-launch economy. In the same year, the Chongqing Municipal Commission of Commerce organized the evaluation of the first batch of first-launch economy clusters and first-launch centers.

To ensure the long-term attractiveness of the first-store economy, Chongqing is also making continuous efforts.

We are improving the services for enterprises to ensure seamless hosting of first-launch events in the city, making sure that first stores can enter, stay, and thrive, said an official with the Chongqing Municipal Commission of Commerce.

The official added that the city will also release a commercial space development plan, continuously upgrading core business districts, characteristic commercial streets, and new consumption scenes, strengthening the agglomeration effect of key urban commercial spaces, and creating good platforms for the development of first-launch and first-store economies.

Li noted that from financial rewards to business environment optimization, from upgrading shopping districts to providing full-cycle service guarantees, Chongqing not only attracts brands to enter but also builds a sustainable development ecosystem where they can thrive. As the construction of an international consumption center city progresses, Chongqing's first-store economy is expected to continue to release vitality.

(Dai Xuelin, as an intern, also contributed to this report.)

(Qiu Xiaoya, a reporter for Chongqing Daily, contributed the Chinese version of this report.)