West Coast New Area

Qingdao's first-store economy soars

( | 2024-04-23

As retail and physical commerce rebound, the first-store economy has been growing rapidly in Qingdao, East China's Shandong province.

Since the beginning of this year, Qingdao's seen a major boost in the number of first stores in the city. A large number of well-known commercial brands such as Sam's Club, JD Mall, Wumart, and the Wangfujing Shopping Center will set up first stores in Qingdao, all of which will emphasize new models, formats, and technologies.

In recent years, membership-based supermarkets represented by Sam's Club have become popular among young people in cities such as Beijing, Shanghai, Guangzhou, and Shenzhen. Now, this trend has also reached Qingdao.

According to local authorities, Qingdao's first Sam's Club is expected to be established in Shibei district. Shibei enjoys a strategic geographical location and is a densely populated area as well as a major consumer center in Qingdao.

Shibei district will continue to promote the development of the service industry and make significant efforts to boost consumption by diversifying consumption options through stores such as Sam's Club.

Sam's Club is a high-end membership-based store under Walmart. According to information from the official website of Sam's Club, there are currently 37 stores nationwide. Unlike regular supermarkets, consumers must have a membership to shop at membership-based stores.

In recent years, the first store economy has become an important driver for promoting consumption and strengthening the economy. In 2023, Qingdao attracted more than 320 first stores, brand stores, and flagship stores.


Sam's Club, the upscale members-only retail chain under the Fortune Global 500 company Walmart, is set to open its first outlet in Qingdao. [Photo/Qingdao Daily]