Innovative consumption models thrive in Shinan
chinadaily.com.cn
As a hub of high-end and fashion-forward consumption in Qingdao and across Shandong province, Shinan district is currently pioneering a vibrant array of innovative consumption models.
The district remains steadfast in its commitment to rejuvenate and elevate commercial areas, propelling the revitalization of the bustling Zhongshan Road commercial street and the upscale transformation of the Fushan Bay international and high-end fashion business area.
The commercial zone of Shinan bustles at night. [Photo/WeChat account: qdweishinan]
Fueled by the synergy of these two prominent commercial zones, consumption has surged within Shinan district. In the initial three quarters of this year, the district generated 53.65 billion yuan ($7.35 billion) in total retail sales, with sales from significant retail enterprises amounting to 26.11 billion yuan. Moreover, the incremental growth in per capita disposable income places Shinan district at the forefront citywide.
Harnessing the power of technology, traditional formats are evolving to create fresh consumer landscapes in Shinan.
In mid-July this year, China's pioneering "ocean metaverse" theme park, known as the U·SEA Fantasy Sea World, commenced trial operations in Shinan district. Similar novel consumer experiences abound across various commercial precincts within the district.
Tourists engage with deep-sea creatures at the U·SEA Fantasy Sea World. [Photo/WeChat account: qdweishinan]
Furthermore, by leveraging the prime consumer spaces and upscale conference amenities of the Fushan Bay international and high-end fashion business area, Shinan has welcomed 54 regional flagship stores, with the collective count of such premier establishments now exceeding 350, meaning the district has among the highest densities of flagship stores in the province.