Mall looks to boost nightlife economy
Print Edition
Among an array of dazzling shopping malls opening this month, One East at the South Bund is dedicated to fueling the city鈥檚 nightlife economy.
Unlike other malls, which usually close around 10pm, One East extends its operating hours to 5am the next day, featuring mostly nightclubs 鈥 true to Shanghai鈥檚 moniker as the city that never sleeps.
In the 鈥淎ll day garden鈥 stands the first Chinese branch of the world鈥檚 top hip hop club 1 OAK, the first Shanghai location of China鈥檚 well-established Music House, the first billiards-themed INARI CLUB in Shanghai, and a new rendition of China鈥檚 top nightclub SPACE PLUS.
The 鈥淎ll day garden鈥 is quite literally a garden that is open all day. The outdoor garden links the mall鈥檚 daytime retail and nightlife entertainment area. Actually, the mall鈥檚 tenants can choose to close doors at 10pm, or 2am and 5am the next day, so as to meet different demands, especially Generation Z鈥檚 social nightlife.
The mall, on the Huangpu River waterfront, is close to nearly 800,000 residents and 200,000 office workers, with 67 percent of them aged between 20 and 49, who are believed to pursue an exquisite and trendy lifestyle. Therefore, the nightlife is the mall鈥檚 main feature.
According to iiMedia Research, China鈥檚 nightlife consumption accounts for nearly 60 percent of total retail sales, and in 2022 it is set to rise to 40 trillion yuan (US$6.26 billion).
A report by the Ministry of Commerce shows that in urban areas, 60 percent of consumption occurs at night, and more than half of the revenues of big malls are made between 6pm and 10pm. Generation Z, a group born between 1995 and 2009, is the main driver of the nightlife economy.
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