The “first-shop economy” is thriving in Shenzhen as an increasing number of fashion and catering brands opt to open their first stores in the city. This trend can be attributed to the city’s positive business environment, particularly its support for the “first-shop economy.”
Data reveals that during the first quarter of this year, Shenzhen welcomed 46 debut stores from various brands, up 58% year on year.
The thriving “first-shop economy” reflects the city’s commercial vibrancy and the advancement of its fashion industry.
Many pro-consumption policies that Shenzhen has unveiled since 2020 emphasize the importance of the “first-shop economy.” The municipal government even offers various kinds of subsidies to brands that select Shenzhen for their first store.