"Guangzhou's large consumer market and solid economic fundamentals continue to support retail leasing demand. While F&B remains the primary driver of expansion, upcoming landmark projects should help attract a broader range of premium retail brands over the coming years."

"Together with the announcement of Guangzhou SKP in the eastern fringe of Zhujiang New Town, alongside other prominent developments by established developer-operators, Guangzhou’s retail market is set to upgrade over the foreseeable term."

"New landmark openings are accelerating a quality-driven shift in Guangzhou’s retail market, particularly in leading secondary locations where both environment and tenant profiles are improving."

"Guangzhou in Q4/2025 will hold China’s 15th National Games, which is expected to draw a significant amount of visitors, benefiting many retail sectors and their sales revenues in the city."

"Consumers will still have to keep their purses tight but are still willing to spend and invest in retail products with quality and price excellence, emotional value, and self-entertaining experience."

"While relatively low consumerconfidence and cautious retailersentiment are already seen on themarket, more headwinds areexpected in the Guangzhou retailproperty market. For example,some retailers who used tosplurge on occupying prime retailspaces at shopping centres tobuild/increase their brandawareness and marketpenetration have graduallystarted to review their storerelocation plans as analternative."

"While constantly remodelling leasing strategies has become almost mandatory to overcome the changing retail market, the light before dawn of increase in spending propensity and recovery of market confidence can be expected, as boosting consumption and expanding domestic demand will be one of top priorities for China’s economy in 2025."

"To attract more footfalls, more landlords replaced their  low-sales-per-square-foot brands with new brands already gaining popularity or with more affordable average order values. This works quite well at some malls on the back of the current economic environment and changing consumer behaviour."