SIP Retail Consumption Grows by 60 Times in 15 Years
With more and more people settling down in Suzhou Industrial Park (SIP), this new district in the east keeps improving its business facilities to provide more comprehensive services to the locals and new comers.
From Community Stores to Shopping Malls, SIP Retail Sales Grow by 20% Annually
The total retail sales of social consumer goods in Suzhou Industrial Park (SIP) were 190 million in 1994 and 11,270 million yuan in 2009, registering a 60 times increase in 15 years and a year-on-year growth of 21.5%. The early residents in the area still remember the days when there was not even a convenience store in their community, let alone big stores and shopping malls. But today, Following such community business facilities as neighborhood centers, supermarkets opened one after another. With the opening of Auchan, RT-Mart, Jiuguang Department Store, Rainbow Department Store, and Suzhou Incity Plaza, SIP becomes a commercial hub.
The Modern District towards One Million Target Population
To provide comprehensive services to more people inside and outside the area, SIP introduced many multi-functional shopping facilities, such as Suzhou Incity Plaza with Wal-Mart as its core business to provide integrated services of shopping, dining and wining, recreation, and entertainment.
In comparison with the business districts in the downtown area, SIP is more modern and fashionable with the gathering of many top world brands including ZARA, H&M, C&A, MANGO, and NEXT, etc., such as seen in Incity Plaza.
The current number of registered residents in SIP is about 600,000, including more than 10,000 foreign residents. The designed capacity of SIP is one million people and this forms a solid foundation for more business facilities. The planned projects or those under construction include Moon Harbor, Ligongdi Phase III, and the block along Xietang River.
SIP To Build 7 New Neighborhood Centers
The Neighborhood Center was first initiated in Singapore, providing daily supplies and combining various community functions of cultural exchanges, sports, healthcare, and education. It used to be the most popular public facility in community but now faces more and more challenges with the rise of comprehensive business complexes.
To cope with the challenge, Neighborhood Centers plan to introduce online services and home delivery of groceries and daily necessities. Other plans include setting up customer service center and opening chain facilities of budge hotels, laundry stores, fitness gyms, and grocery stores. The management of chain grocery stores has confidence in community market and will manage to keep the price low by introducing direct suppliers. SIP plans to build seven more neighborhood centers and five of them will be finished this year.
Originally published on Gusu Evening News
February 8, 2010
