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Once dominant stores to receive facelift to take on e-commerce
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HUANGPU District will carry out a series of facelifts for its traditional department stores that are fighting back against the online shopping trend.
A batch of Shanghai’s earliest department stores on Nanjing and Huaihai roads will close their doors from next year for major renovations and to adjust their business operations to meet the demands of consumers in the Internet era, said Chen Yong, director with the district’s department of commerce. The stores will reopen around 2018.
“The pure retail departments will easily get killed by e-commerce, so we want to develop the social and cultural functions for the department stores,” said Chen Zhuofu, deputy director with the district. He added that the total investment for the renovation projects would top 10 billion yuan (US$1.45 billion).
Among the stores to be revamped are Shanghai No.1 Department Store and Orient Shopping Center on Nanjing Road E. They will close early next year.
The two stores — once the most popular shops in Shanghai — along with Liuhe Road that runs between them, will be integrated with skywalks into the No.1 Department Store Shopping Center to mainly target families from both home and abroad, said Wang Xiaoyan, deputy general manager with Bailian Group.
“The new center is also designed for local white-collar workers to spend holidays with friends and tourists from abroad who want to taste the city’s traditional culture and atmosphere,” Wang said.
The No.1 department store that opened in 1936 will be restored to its original look, but with a rooftop garden, an international food market and bookstores added. The landmark New World Department Store in People’s Square will also be closed for renovation, between June and September.
The sales of these once popular traditional department stores have been impacted by online retailing.
The British retailer Marks & Spencer has announced it will close 10 stores in China, and the Pacific Department Store said it will stop operations at its prime Huaihai Road store by the end of this year.
It’s a different story in the online world.
This year’s Singles Day shopping frenzy on November 11 racked up a record-setting US$17.8 billion in revenue for Alibaba Group.
“I rarely go to those department stores now to buy clothes, and most of my new clothes are purchased on e-tailing platforms like Taobao.com, because of the cheaper price for the same product,” said a local white-collar surnamed Tan. “I think most Chinese consumers are price-sensitive like me,” she added.
According to Huangpu’s plan, the Wing On Department store on Nanjing Road E. will also start its renovation next year. Its original appearance will be preserved, but its retail businesses will be adjusted.
One of the city’s earliest department stores, it will reopen in 2018 to celebrate its 100th anniversary.
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