Xiangcheng district, Suzhou. [Photo/szxc.gov.cn]
Since 2021, 53 brands have opened their first stores in Suzhou's Xiangcheng district, making the area a key driver in the city's "first-store economy", which refers to a type of real economy measured by the launch of leading industrial and fashion brands that open their first stores in specific areas.
Governments across China have been promoting the first-store economy as it helps boost employment and tax returns while catering to the diverse demands of consumers.
More than 39 percent of these first stores in Xiangcheng are related to catering while 34.4 percent of them are retailers. Smart vehicles, costumes and trendy items are among the most popular products here.
JackPet, a brand offering multiple services for pets. Covering about 2,000 square meters, the flagship store holds several events every year to engage with customers.
In the Joy Breeze shopping mall, first stores take up more than 40 percent of the space. Fifty-four brands made their Suzhou debut in this shopping plaza, which is home to 154 flagship stores.
To further develop its first-store economy, authorities in Xiangcheng have sought to improve the business environment by streamlining administrative approval and opening green channels for brands that are planning to set up a presence in the district.
Authorities have also rolled out incentives such as subsidies for rental and decoration and preferential policies for local brands.