2014年第3季度上海市商铺市场报告.pdf

Research Forecast Report Shanghai | Retail 3Q 2014 MARKET OVERVIEW Shanghai’s retail sales of consumer goods grew by 8.4% y-o-y to RMB566.1 billion in the first eight months, according to the Shanghai Statistics Bureau, accelerating 0.8 percentage points compared with 1H14. Echoing this increase in retail sales, the average rent of Shanghai’s mid- to high-end shopping centre property market showed positive signs for the first time in 2014. Although supply in prime locations remained limited, trade and brand mixes adjustments in certain developments created opportunities for some retailers to open new stores there. SUPPLY This was the third straight quarter that no new supply was completed, and the total stock remained unchanged at approximately 3.7 million sqm. By segment, the supply in the prime retail area remained limited, accounting for approximately 37% of the city’s total stock by end-3Q14. By contrast, the stock of non-prime retail supply expanded at a CAGR of 23.7% over the past five years, 13.6 percentage points faster than prime retail supply. DEMAND Both international and domestic brand retailers continued to seek space in Shanghai, and competed for prime locations or high-profile