Since the optimization of epidemic prevention and control measures, the consumer markets in many parts of China have recovered rapidly, with the progressive rekindling of activities.
During the New Year’s Day holiday, the sales of Chengdu Intime City Shopping Centre increased by 25% year-on-year, and member spending grew by 25%. The double-growth marked a good start to 2023.
Multiple firsts in the high-end beauty brand category and common growth with brands across categories
Behind the good start is the continuous upgrading of brand formats and new offerings. In 2022, Chengdu Intime City recorded sales of more than 1.87 billion and foot traffic of 15.25 million people.
Especially in the high-end cosmetics segment, it continues to make efforts and achieve outstanding results. It has achieved total makeup sales of nearly 30 million yuan since the fourth quarter of 2022 with its progressive induction of beauty brands. By tapping the investment and operation capabilities that it has accumulated over the years, it has brought onboard 11 high-end beauty and skin care brands such as Lancôme, Dior, Clé de Peau Beauté, and YSL in the past year. Estée Lauder is also planning to join these brands in 2023. On their opening days at Chengdu Intime City, Lancôme, YSL, and Shu Uemura ranked first in sales in the south of Chengdu, while Kiehl's ranked first in Chengdu. This shows that Chengdu Intime City has become an important strategic point for high-end cosmetics brands in the building of their presence in the southwest China market.
On the day of the Qixi Festival last year, the series of promotions and activities centring on the theme of "Beauty in Bloom" were a resounding success, achieving a record high in single-day sales. The sales of Chengdu Intime City on that day increased by 15% year-on-year, with member spending accounting for 20%, an increase of 122%. All three new entrants in its high-end beauty and skin care department achieved strong good results, with YSL and Shu Uemura ranking first in sales in Chengdu, and Lancôme ranking first in sales in the south of Chengdu.
Chengdu Intime City has displayed clear strength in its launch of new offerings. A total of 53 new merchants opened stores in the mall in the year. The introduction of brands such as Tommy Hilfiger, indicia M’s first store in southwest China, Adidas mega L1, Anta’s flagship store and other brands to its apparel retailing offerings provides its target customers with more choices, and sales of indicia at the mall have come in first for the brand in the southwest region on many occasions. Chengdu Intime City has grown together with many brands and achieved outstanding results. As many as 18 stores in the mall have achieved sales exceeding tens of millions, and they include Chow Tai Fook, Huawei, and Mi Home. They have set new records for single-store operations, and have the highest sales among their brands’ stores in Chengdu/the southwest region.
Exploring multiple needs and continuously upgrading the consumer experience
Entering 2023, in which consumption is rapidly picking up, Chengdu Intime City will continue to explore the ever-changing consumer demand in the post-pandemic era, display a strong direction of consumption guidance, and present a new look.
It is focusing on introducing digital brands, and is engaging in negotiations with XGIMI, Alienware, Samsung, and Microsoft, which are garnering much attention from young male consumers. At the same time, it will increase gold brands for consumption balance in terms of its female customers, and strive to bring new breakthroughs in foot traffic and sales. Following the entry of high-end beauty and skin care brands, Longines and Tudor have become the next luxury brands for key breakthroughs.
Going forward, Chengdu Intime City Shopping Centre will continue to strive for improvements in the enrichment of its business formats, brand renewals, and the expansion of consumption scenarios, as it seeks to continuously upgrade the retail consumption experience that it offers and enhance living in the south of Chengdu.
(compiled from Tencent.com)