Subterranean shops at People’s Square suffer limited customer volume

Source:Global Times Published: 2018/2/27 19:28:39

Underground ghost malls


Underground malls are not a new thing in China. About 20 years ago, malls were developed beneath Shanghai's People's Square. As the square was an important transportation hub, it attracted many passengers and young consumers to shop in its underground malls. Underground malls soon sprung up in other transportation junctions around town, including Xujiahui, Jing'an Temple and Zhongshan Park.

Businesses at most local underground malls used to be prosperous thanks to high customer volume brought by nearby metro lines. But as online shopping eventually became a new and popular alternative in China, local underground malls were adversely affected.

Presently, there are three remaining underground shopping malls near the Exit 1 of People's Square metro station. One is called Shanghai Traditional Street in 1930s; another is named Hong Kong Famous Shops Street; the third is Dmall Shopping Center. Recently, a number of stores inside Shanghai Traditional Street in 1930s were closed down due to "business adjustments," according to a recent report by Shanghai Observer.

On Hong Kong Famous Shops Street, there are still some clothing stores, accessory shops and restaurants. Though many metro passengers pass by these stores all day long, not many bother to stop and browse let alone shop.

An employee at the shops street said that customer volume - primarily among young people and tourists - tends to be higher on weekends than on weekdays, according to the report.

Hong Kong Famous Shops Street was, a decade ago, a fashionable shopping destination in Shanghai. Many nearby office workers would browse and shop there during their lunch breaks. Trendy accessories such as gloves and scarves were popular items. But local people's taste and demand for such products have changed over time, and the street is now just a ghost of its former glory days.

Based on the report, some underground shopping malls have attempted to change with the times. For example, Hong Kong Famous Shops Street experienced a big business adjustment in 2015, and many lower-end snack stores inside the center were also shut down.

The report said that, previously, 90 percent of all the stores at Hong Kong Famous Shops Street sold clothes. But after the adjustment, only 30 percent continued to stock clothing, with another 30 percent continuing as restaurants and the remaining 40 percent being offline experience stores.

Likewise, in April of 2017, Dmall Shopping Center also cut down the number of its apparel stores while increasing dining and children's entertainment venues. Unfortunately, such business adjustments could not change the mall's bigger fate.

One anonymous shop owner at Dmall Shopping Center said her store's profits are very limited.


Photos:Yang Hui/GT



Photos:Yang Hui/GT



Photos:Yang Hui/GT



Photos:Yang Hui/GT



Photos:Yang Hui/GT



Photos:Yang Hui/GT

 

Photos:Yang Hui/GT



Photos:Yang Hui/GT



Photos:Yang Hui/GT



Photos:Yang Hui/GT





 

 

 

 



 

Posted in: CITY PANORAMA

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