China’s malls have long been a source of controversy, with shoppers sometimes being disappointed to find that they are not the biggest in the country.
But now, one baron has come up with a solution to this.
Baron Guo is the owner of Guangzhou’s second-largest mall and has come to the conclusion that the Chinese shopping mall is the most valuable in the world.
His store in the Guangzhou shopping mall had an average annual sales of 1.6 billion yuan (about $25.5 million) in 2017, according to data from online retailer Taobao.
The Chinese shopping giant recently revealed that its Chinese retail sales were up by a record 3.4 percent in 2017.
While the average annual sale of Chinese mall products has also increased by 4 percent, Guo has come out swinging in a bid to make the mall more attractive to Chinese shoppers.
This year, Guanxi mall has launched new shopping experiences, including new gift shops, a new “fountain of youth” that will offer a more authentic and youthful look to the mall, as well as an expanded food and beverage menu, which will feature new dishes that are unique to Guangzhou.
The mall also launched an interactive app called “Fantastic Guangzhou,” where shoppers can use facial recognition to track their shopping behavior, as a way to track down bargains and offers.
Guo said the new experiences were the result of the mall’s success.
“We have a very rich history in Guangzhou, so we thought it would be fun to create something new,” Guo told Bloomberg News.
As of May, Gui said he had opened 688 gift shops and added 1,800 new eateries, all of which were designed with Chinese ingredients.
Guo also added that he had installed a 24-hour concierge service that he said had helped him with his daily shopping.