The first-store economy in Shenzhen recorded healthy growth in the third quarter of the year as 165 brands opened stand-alone debut outlets.

Date from winshang.com, which specializes in retail research, showed the number of the first stores increased 13 percent year-on-year and reached a new quarterly high since 2018. During the first three quarters of the year, their total reached 336, up 26 percent year-on-year.

Of these debut stores, 22 (13 percent) are making their first appearance on the Chinese mainland, while 58 (35 percent) are well-known brands. The Futian District's CBD area continues to be their most favored location, with 29 first stores setting up in the area in the third quarter. The commercial zone near the high-tech park in the Nanshan district ranked second, with 27 new first stores.

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In terms of industry breakdown, 76 (46 percent) of the new stores are in the retail sector, 64 (39 percent) in the catering sector, 11 in the service sector, and eight in the cultural and entertainment sector.

Fashion continued to dominate the retail sector, with 41 first stores opening to sell clothing, sportswear, and shoe brands. Beauty products and outdoor products followed, with eight and four new first stores, respectively.

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This article is translated by China Daily from the original report in Chinese as published on the official website of Shenzhen Special Zone Daily