2022-11-01-第一太平戴维斯-天津零售_2022年第三季度_2页_1mb

Summary of Tianjin Retail Market Analysis

Economic Performance

• In Q3 2022, Tianjin's social消费品零售总额 decreased year-on-year by 3.2%, impacted by pandemic-related disruptions. Specific categories showed mixed performance, with some sectors like smart phones experiencing high growth.

Market Conditions

• No new retail projects were added during Q3, maintaining total shopping center stock at 433,000 square meters.
• The overall vacancy rate rose to 12.8% during the quarter, with core areas like Jing Road sustaining higher rental rates.
• Average rental rates decreased 1% month-on-month and 0.7% year-on-year to 323.9 RMB/m²/month, varying by商圈 with core areas generally higher.

Brand and Consumer Trends

• Retailers are focusing on upgrades and diversification in response to consumer demands, with increased emphasis on leisure, food, and coffee categories to enhance shopping experiences.
• Nighttime economy initiatives are encouraged to boost economic recovery in the fourth quarter.

Future Outlook

• Q4 2022 anticipates multiple new projects entering the market, potentially adding hundreds of thousands of square meters, to stimulate market revival through innovative consumer engagement.