Free parking pays off for local businesses
Print Edition
SHOPPING malls in the Hongqiao-Tianshan business circle are reaping the benefits of new free parking services.
These malls gave up part of their parking charges in exchange for more visitors and higher sales revenues. After five malls and a cinema began offering free parking, daily visits have increased from an average of 15,000 to upwards of 50,000. Daily business income also jumped from 2 million yuan (US$289,000) on average to as high as 5.5 million yuan.
Surrounded by Zhongshan Road W., Furongjiang Road, Golden Street and Yuping Road S., the Hongqiao-Tianshan business circle covers an area of 3.15 square kilometers. It has over 400,000 square meters of shopping area in total.
From August 13, L’Avenue, Arch Walk, Friendship Store Hongqiao, Hongqiao Art Center, Huijin Department Store, Parkson Newcore and Hongqiao Art Center started offering free parking for five hours during weekends and national holidays in return for any kind of spending — even buying a bottle of water — to attract customers to their stores.
To park for free, shoppers must present a receipt for any purchase made at any of the six venues. This special offer opens up nearly 2,400 parking spaces.
“We hope it will attract more customers to our stores,” said William Wang, head of L’Avenue China Operations. It was Wang, an industry veteran, who initiated the offer.
Thanks to the efforts of Wang and his peers, L’Avenue recorded its highest ever daily sales figure last month. Around the same time, Parkson Newcore saw daily sales average 4.65 million yuan during its anniversary celebration between December 1 and 11.
Arch Walk notched a 40-percent increase in visits in the fourth quarter. Its sales reached a record high on Christmas Eve, up 25 percent from a year ago.
Hongqiao Art Center, one block away, has staged 110 performances for more than 300,000 audience members since opening in May.
L’Avenue and Arch Walk have extended free parking hours to weekdays, while the soon-to-open SOHO Tianshan Plaza is expected to join the scheme, bringing an extra 1,900 parking spaces.
Retailers in the area have formed an alliance which involves more than 4,000 businesses in 22 buildings.
This year, Changning District will renovate 93 apartment buildings in the area, particularly older structures next to the shiny malls. Public utilities will also be improved while the layout of neon signs, advertisement boards and green spaces will be altered.
The construction of underground passages beneath Zunyi Road is also nearing completion.
The underground passage will connect all the shopping malls and Metro stations in the area. It will be opened within the year.
Local authorities and retailers have also introduced Internet-plus technology to boost sales.
An app shares sales information as well as digital coupons with users. It also serves customers with real-time information about traffic conditions.
In addition, people can file complaints, or rate businesses or offer advice through the online platform. Authorities and retailers will check the platform in an effort to improve services.
Apart from convenient access and user-friendly apps, more and more retailers in the area have applied to become departure-tax rebate stores. The Ronghua community filled with expatriates is just 100 meters away.
Takashimaya Shanghai, Friendship Store Hongqiao and Huijin department store have started serving foreign customers with tax rebates since Shanghai launched the policy in July 2015.
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