Emotional 'Collectible' Brands Replace Luxury Stores in Chinese Malls
Creatrip Team
4 months ago
China’s consumer spending is shifting from high-priced luxury goods to emotion-driven purchases, reshaping shopping mall landscapes. In Wuhan, Pop Mart’s Labubu store (popular Chinese art toy character) will open in a prime mall spot next to Prada and Tiffany. Collectible toy brands, specialty drinks and lifestyle goods are drawing shoppers willing to pay for emotional satisfaction, even as overall retail growth slows and luxury market size contracts. As a result, mall vacancy rates and retail rents are rising, and new store openings have slowed. Analysts say this trend favors brands offering experiential or sentimental value over traditional luxury labels.
