BEIJING, Dec. 3 (Xinhua) -- The Middle Huaihai Road Charm Index was officially released Wednesday at the "120th Anniversary of Middle Huaihai Road" International Business Summit, presenting a charming landmark a well as fashion barometer and bellwether of the metropolis through quantitative tools.
Compiled by the Commission of Commerce with Shanghai Huangpu District and China Economic Information Service (CEIS) of Xinhua News Agency, the index provides a comprehensive fashion evaluation of the Middle Huaihai Road through such three sub-indicators as commercial construction, business/consumption activity, and media exposure, with research results showing steady and quality development of the business area.
In 2019, the three sub-indicator grew by 6.9 percent, 1.8 percent and 5.2 percent (with year of 2017 as base period), year on year, respectively, according to the index results.
Long dubbed as the fashion street in“Paris of the East”, the Middle Huaihai Road business area now hosts 16 key commercial complexes and approximately 550 brands, including 32 world leading fashion brands and some rare-seen flagship stores of big names such as Hermes and Tiffany.
In terms of consumption, the business area registered 13.6 billion yuan of fashion sales in 2019, with consumption per customer being about 2,200 yuan, indicating higher ability for attracting high-spending customers across Shanghai.
For media exposure, its growing popularity could be attributed to a series of activities hosted at the business area to go with city-wide events such as Shanghai Shopping Festival, Shanghai Tourism Festival and Shanghai Fashion Week, according to the index report.
For future development, the index report recommends Middle Huaihai Road to benchmark against world's top commercial streets, and build itself into a world-class commercial street with high concentration of internationally renowned high-end brands, new business models and forms, good environment and service quality and find its own path for the transformation and development of the century-old street. (Edited by Niu Huizhe with Xinhua Silk Road, niuhuizhe@xinhua.org)
A single purchase
