Government News
Nanjing Road W. on its way to 100 billion yuan in retail sales 2024-03-26
The Nanjing Rd W. commercial zone.
Shanghai's Nanjing Road W. commercial zone has been put on the global limelight these days for its strong commercial vitality.
Last Thursday and Friday, with the opening of Asia's biggest Apple Store, the launch of Loewe's first major exhibition "Craft World" and debut of Starbuck's Oleato beverages in China, the commercial zone is well on its way to become a "100-billion-yuan" member.
The commercial zone is expected to fetch 100 billion yuan (US$13.87 billion) in total retail sales of consumer goods by the end of 2025, becoming the first in Shanghai to reach the mark.
Last year, it fetched 89 billion yuan, with year-on-year increase of 12 percent, according to the district's commerce commission.
The commercial zone covers 1.8 square kilometers around Nanjing Road W, east to Chengdu Road N, west to Zhenning Road, south to Weihai Road and Yan'an Road and north to Beijing Road W. and Yuyuan Road.
By the end of 2022, the zone had gathered more than 2,000 brands from home and abroad, and 90 percent of the world's top brands can be found here. Last year, the zone introduced 109 first stores, including two global first stores, two Asian first stores and 18 domestic first stores.
Authorities said more first stores and flagship stores as well as trendy events will be held to further jazz up the area.
Source: Shanghai Daily
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