The "debut economy" has become a prominent feature of the ongoing Shanghai Shopping Festival.

Under the umbrella of "First in Shanghai", the debut economy often involves the opening of first stores, the launch of new products, or debut shows and exhibitions by both established and emerging brands.

To promote the high-quality development of the debut economy, the municipal government of Shanghai launched a slew of measures in recent months.

These include hosting the "First in Shanghai" global product debut season, introducing additional flagship stores to the city, and providing subsidies for debut products, shows, and exhibitions.

According to data from the Shanghai Municipal Commission of Commerce, more than 4,500 domestic and international brands launched debut activities in the city between May 2018 and December 2023. During the same period, approximately 5,840 first stores of various levels were opened across Shanghai.

The government also unveiled 25 new landmark locations in Shanghai for debuting global new products.

A leading local retailer, Bailian Group, which owns two out of the 25 locations, expressed its commitment to engage in the global product debut season.

In a bid to attract global consumers to the city, the municipal government published the "2024 55@Shanghai, Destination of Shopping" handbook in May. This comprehensive guide offers information on dining, accommodation, transportation, tourism, entertainment, and shopping in the city, along with payment guidance.

Featuring over 1,000 unique shops and restaurants, more than 100 locations for commercial, travel, cultural, and sports experiences, and more than 10 foreigner-friendly shopping malls, the handbook aims to showcase Shanghai as a premier shopping destination.

Source: Yicai