“Chengdu government has proposed Debut Economy as a development strategy, building a full ecosystem with measures including introducing various high-level first stores and hosting brand launch events. In Q3/2025, sports brands’ leasing demand remained stable and was the major category for brands first set foot in the Chengdu retail market.”

SOPHY PAN, SAVILLS RESEARCH



Cultural tourism popularity drove consumption growth

• Retail sales of consumer goods in Chengdu reached RMB739 billion from January 2025 to August 2025, up 6.2% year-on-year (YoY).

• No shopping mall opened in Q3/2025; the total stock of Chengdu prime retail property remained at 7.95 million sqm.

• Overall leasing performance in the Chengdu retail market was stable in Q3/2025. Citywide average vacancy rate of shopping malls remained around 10.4%.

• Shopping malls’ average rent continued to declined. The first-floor average rent reached about RMB 399 per sqm per month, down 3% YoY.

• Sports brands’ leasing demand stayed stable; renown outdoor sports brands launched first stores in Q3/2025.

• Budget retail brands were active; discount supermarket and outlet brands continued to expand presence in shopping malls.

• As college students’ favourite domestic travel city during summer vacation, Chengdu actively introduced popular bakery, dessert, and coffee brands in shopping malls to attract consumers.