Unveiling Secrets of Consumption Upgrade: Exploring Success of "First-store Economy" Trend in Xi'an's Yanta District

In recent times, the "first-store economy" has gained significant popularity. In the first half of 2023, Xi'an witnessed the opening of 141 new first stores. Among them, 30 established their presence in Yanta District. The district is the primary carrier of the city's prosperous business district valued at CNY 100 billion. 

Yanta District, the main urban area of an international consumption center, photo by Yanta District of Xi'an

The "first-store economy" concept refers to an economic model characterized by the first establishment of domestic or international brands in specific regions. These brands are attracted by those regions' distinct resources and strengths. 

AOXMED's first store in Northwestern China, photo by Yanta District of Xi'an

According to incomplete statistics, Yanta District witnessed the opening of 30 first stores from different brands during the first half of 2023. This number accounts for 21.28 percent of the total 141 new brands that opened throughout Xi'an, positioning Yanta District in the top spot among other districts. 

Xiaozhai Commercial Center, photo by Yanta District of Xi'an

Yanta District's success in attracting first stores can be attributed to its commercial advantages. In 2022, the district's gross regional product soared to CNY 300.556 billion, while its residents per capita disposable income reached CNY 56,900. For 13 consecutive years, Yanta District has consistently ranked first among Shaanxi's top five urban districts in terms of economic and social development and it holds the 16th position among the nation's top 100 districts. The district exhibits robust consumer demand and fosters a favorable commercial environment. With a notable count of 12 commercial complexes covering an area exceeding 50,000 sqm, Yanta District has been recognized as one of China's Top Ten Renowned Commercial Districts. Notably, the Xiaozhai Commercial Center has received the prestigious title of one of the initial groups of China's Key Demonstration Urban Business Blocks. 

National Geographic Wandering Forest's first store in Northwestern China, photo by Yanta District of Xi'an

TUTUTHAI's first store in Xi'an

Xi'an is currently making efforts to facilitate the integration of diverse business models and cultivate high-quality development of consumer experiences. The city's primary focus lies in promoting the convergence of "commerce, culture, tourism, and sports" consumption. In pursuit of this goal, Xi'an encourages the transformation of traditional department stores, stadiums, and old factories into cultural tourism destinations. These destinations aim to provide consumer experiences, leisure, and entertainment options, and cultivate an environment conducive to cultural creativity. Additionally, the rising popularity of creative blocks demonstrates their ability to attract more visitors. 

Yanta District, as the central urban area of an international consumption center, is pioneering a novel model that integrates first stores and business blocks to enhance regional popularity and drive consumption upgrades. The district is dedicated to delivering superior commercial and trade services to maximize economic benefits while infusing new vigor into Xi'an, a city renowned for its rich historical heritage spanning a millennium and contemporary charm.