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Tianjin Property Insight - March 2016

Bigger and better, more about experience, less about shop

The Tianjin retail market experienced many changes during 2015. Five department stores closed, including Far Eastern, Parkson and LaVita, making people concerned about the retail market. However, another five shopping malls completed and entered the market in the same year. If we compare the stock change – 200,000 sqm of department store space withdrawn and more than 500,000 sqm of new shopping mall supply space added – it shows two basic truths. First, the retail market in Tianjin keeps expanding and developing and second, shopping malls play a more important role in the retail market.  For clarity, department stores are largely run by a single operator such as Lotte, Isetan or Robbinz, with merchandise arranged by category such as men’s or women’s clothing and brands less clearly separated, whereas most malls are larger, generally have brands physically separated into different stores and have more common space and entertainment elements.

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