Shanghai leads nation, Asia in 'first-store economy' race

JD Mall benchmark

When JD Mall opened its first Shanghai store in Qibao commercial area of Minhang district on June 12, the response was immediate. The retailer attracted more than 156,000 visitors and generated over 120 million yuan ($17.7 million) in sales during its first three days of operation.

The 50,000-sq-m "super experience" store, the company's 28th nationwide and first in Shanghai, introduced a new retail format combining differentiated product offerings with immersive, technology-enabled shopping experiences.

Home to more than 200 global brands and over 200,000 self-operated products, it is designed as a "third living space" for urban families, catering to shoppers of all ages with technology experiences, age-friendly facilities and one-stop shopping solutions.

"We're not simply putting products on display. Our goal is to create an immersive retail space that brings together innovative products, technology and experiential shopping," said Yu Yongzhuang, head of JD Mall in Shanghai area.

Yu said the store will set the benchmark for new locations while laying the groundwork for further expansion in Shanghai. "Given the size of the market, we believe Shanghai can support at least three such stores," Yu added.

The figures suggest that by offering immersive, experience-driven retail, the company has successfully converted its online traffic into considerable in-store sales.

With the theme of "tech-savvy shopping", the store primarily operates in categories such as home appliances, digital products, and home furnishings, providing a one-stop quality life solution with identical products and prices both online and offline.

Chio from Savills, said: "From a tactical perspective, the market is defined by a 'first-to-market' race; every business district and shopping mall is competing to host the next big concept."

Helmlinger from CBRE China believes Shanghai has become a laboratory for retail concept innovation, and what's exciting is how bold and experimental the market has become. Brands are no longer just opening stores — they are crafting experiences, and there is a healthy sense of competition to surprise and elevate.