From Bustle to Resilience: Shenzhen Retail Enters the Era of Slow Variables

On April 29th, Shenzhen iN City Plaza reopened with a fresh new look. Established in 2002 as Shenzhen’s first shopping mall, it not only sparked heated discussions on social media but also demonstrated to the industry how a 24-year-old project can successfully transform. From my perspective, iN City Plaza’s renewal was not merely a surprising project unveiling—it was a comprehensive exercise in operational “system capability” by Yinli South China. The results reflect the outcomes of organizational coordination and culturalsupport.Historically, Shenzhen’s commercial projects have favored a “big and all-encompassing” approach with a focus on upscale presentation, emphasizing scale, image, and hype. This time, however, iN City Plaza broke away from the familiar path. Instead, it started from the community, from everyday life, rethinking the true value of “commercial space.”

After the reopening, I spoke with many professionals in Shenzhen’s commercial sector. The consensus was clear: the most compelling aspect of this renewal was not the superficial facelift, but the injection of a fresh lifestyle into this beloved old district of Shenzhen. The project team openly admitted that the renovation was not aimed at chasing “non-standard” labels, but stemmed from a more grounded question: in a densely populated area with a clear living radius, what kind of commercial space do people truly need?People want a place where they can soak up the sun, play some sports, enjoy a drink, and chat with friends—whether on a weekday lunch break or a weekend afternoon. iN City Plaza has been meticulously reconstructed around these everyday life fragments. And this vision of space was far from theoretical. Many team members are sports enthusiasts themselves; their understanding of lifestyle rhythms comes from lived experience.

They know that sports aren’t a gimmick—they’re a real medium to connect people, foster social interactions, and relieve stress.As a result, the 30,000㎡ outdoor sports park, FUSION PARK, was placed at the heart of the project—not as a decorative backdrop, but as a genuinely usable urban space.When it came to reconstructing the mall’s commercial content, the project avoided the traditional “refined, high-ticket, ceremonial” model, opting instead for a lifestyle-oriented approach. The proportion of dining outlets was expanded, with particular attention to street food, local flavors, and family-style brands.

The combination of Bay Area Granary and Pijiu Street wasn’t designed for visual spectacle but to respond to consumer habits and rhythms.This strategy also differentiated iN City Plaza from nearby malls such as AVIC Century Plaza and KK Mall. It neither aimed for high-end benchmarking nor forced downward positioning. Instead, by focusing on sports, social interaction, and dining, it transformed the somewhat cold and quiet Shennan Avenue midline into a warm, everyday life space.The leasing strategy was equally measured and precise. It was not about chasing first-store openings or signing whoever was trending. Each brand was carefully selected and curated.

On site, some stores may appear small but are solidly executed—whether it’s a skateboard brand, a pet store, a dessert shop, or a small F&B outlet, each contributes to a unique scene.These scenes received positive consumer feedback during the recently concluded May Day holiday. Young parents strolled through with children in strollers, while students in Shenzhen school uniforms played on the sports field and gathered around. They weren’t there just to take photos—they stayed. This natural ability to “linger” is a true indicator of a commercial space’s vitality.I would argue that iN City Plaza’s 97% occupancy rate and 95% opening rate offer a feasible reference for many teams facing commercial fatigue or stagnation in project iteration: there is no need to obsess over “trendier” commercial expressions.

Instead, return to the starting point of life—from the community, from the users, from a simple plaza—and gradually bring the project to life.Sweating it out in a mall carries more presence than merely checking in for a photo.In today’s era, where emotional value and lifestyle resonance matter more than ever, Shenzhen’s young consumers—especially middle-class families and Gen Z—aren’t lacking purchasing power. What they crave is a reason to stay. Sports are becoming a key motivator to step outside the home and are gradually emerging as a new form of commercial scene expression. They are not just for exercise—they are a way to regulate emotions, connect communities, and restore order.

This May Day holiday, Yinli South China launched a “City iN Motion” campaign, connecting multiple projects across Shenzhen under its portfolio. Through various formats, the campaign experimented with a “sports narrative,” and the results were impressive: sales increased 19.4% year-on-year, and foot traffic rose 16.5% year-on-year.At iN City Plaza, sports were placed in a more emotionally resonant position. Under the banner of “stress relief,” activities like cage gladiators, giant tennis, camping music events, and skateboarding exhibitions unfolded. These playful and ironic installations carried deeper insights into urban residents’ need for relaxation.At Yinli Center, sports took on a more empowering and social form. Boxing became a medium of expression, with “Fairy Sweat Sessions” and live Battle matches alternating.

Audiences gathered around, cheering on-site—the close-range tension perfectly mirrored young people’s desire for emotional release.At Longcheng Vanke Mall and RAIL INLI, sports were returned to everyday life. One offered interactive games under the theme of “Zero Gravity,” including paddle challenges, “No Boredom Bowling,” and punch-force contests—lightweight, flexible, and family-friendly. The other curated community games in its atrium, such as the “High Reach Challenge,” “Slow Ride Challenge,” and “Rolling Bowling,” where festive atmosphere was generated organically through human interaction rather than decorative scenery.Sakata Vanke Plaza leveraged its natural site advantages.

With lush greenery throughout, the “Discover the Forest Party Dance” continued the nature theme, while the rooftop basketball court on the fifth floor provided an energetic outlet for children.ONE MALL, recently awarded “Pet-Friendly Mall” by the Yantian District Government, sits at Shenzhen’s easternmost edge, adjacent to the coastal boardwalk. Here, sports merged with nature and pets, creating immersive scenarios. Young visitors joined their furry companions in playful pet sports parties—Corgis sprinting, Shiba Inus crawling and leaping—spreading the joy of movement amidst sea breezes and greenery. In this space, the act of “walking dogs” seamlessly extended into a freer, more fluid lifestyle experience.Longgang Vanke Plaza represented the “trend-focused” expression of this wave of sports experiences.

A 700㎡ sports social arena, BMX extreme bike challenges, and aerobic BODYPUMP competitions all embodied one keyword: energy. Young people here not only broke a sweat but also created content and found ways to express themselves while connecting with others.Across these diverse scenarios, one point is clear: when shopping centers stop pursuing sheer traffic and brand density, they need to find ways to connect with people’s daily lives. Sports provide a low-threshold, highly participatory, and universally relatable entry point. From street culture to family interaction, from stress relief to casual companionship, Yinli South China’s multi-site holiday experiment demonstrated various ways to integrate “sports + lifestyle.” Behind this lies the company’s precise control over spatial emotion and continuous community management.In the battle for Hong Kong shoppers’ attention, beyond sports, one of Yinli South China’s key focuses in 2025 remains Hong Kong consumer engagement.

Unlike the past, when a single broad approach sought to capture all customers, today’s strategy emphasizes precision targeting and meticulous operations.Located in the core of the Greater Bay Area, Yinli South China has adjusted its Hong Kong consumer strategy: rather than relying on single-point bursts, it first builds foundational capabilities at the regional platform level. This includes cross-border bus connections, unified points systems, Hong Kong dollar payment compatibility, Cantonese services, Hong Kong-specific content packages, and high-frequency touchpoints like markets and food festivals. With this systemic infrastructure in place, each project adapts locally based on its location, space, and audience profile.At Yinli Center, Sam’s Club has played a vital role in generating over 5 billion RMB in sales in 2024, with Hong Kong shoppers forming its most stable core segment.

To keep visitors engaged, refined operations were implemented: upgraded cross-border payment benefits with AlipayHK and WeChatHK, platform integration with Klook for additional entry points, and enhanced daily service experiences like return-trip souvenirs.This year, Yinli Center’s promotion strategy is more focused: connecting visitors through traditional culture and keeping them engaged with interactive experiences. Exclusive perks with Apple and Huawei, or thoughtful designs like return-bus vouchers for purchases at Yulian Teahouse, all revolve around the Shenzhen-Hong Kong lifestyle path. The next phase will introduce Hong Kong intangible cultural heritage crafts, vintage cars, and other cultural symbols, creating participatory cultural scenes that serve as a hub linking Shenzhen and Hong Kong lifestyles.Another notable example is RAIL INLI, located in the Shenzhen Bay area. Adjacent to the Shangri-La Hotel, it naturally attracts high-net-worth individuals, especially Hong Kong shoppers. For many in Hong Kong, the hotel itself represents a symbol of quality living.

At RAIL INLI Shenzhen Bay, the attraction for Hong Kong shoppers comes not only from its prime location but also from its meticulous operations centered on the “Hong Kong lifestyle.” Anchored by high-end dining, the project extends into indoor skiing, tennis experiences, and art consumption spaces, creating a daily exploration venue where visitors can truly “slow down.”Precision targeting around Hong Kong shoppers’ preferences and behavior paths is executed across multiple dimensions. On one hand, the team digs deep into consumption habits, partnering with OpenRice, Hong Kong’s version of Yelp, to offer exclusive dining packages, strengthening instant connections with Hong Kong’s culinary culture.

On the other hand, immersive cultural experiences—such as Xiangyunsha intangible heritage workshops, Chaoshan Yingge dance performances, fish lantern parades, and Chaoshan food festivals—transform “mall visits” into profound opportunities to engage with local traditions and intangible cultural heritage.During this year’s May Day holiday, the Chaoshan food market featured over a hundred authentic stalls, driving holiday foot traffic up by more than 30% year-on-year. From scheduling to content planning, RAIL INLI is experimenting with a dual-city lifestyle expression unique to Shenzhen Bay and the Greater Bay Area.Sakata Vanke Plaza is just three subway stops from Shenzhen North Station, and a high-speed train ride to Hong Kong West Kowloon takes only 25 minutes.

This project, which opened last year, has always emphasized the concept of “natural living.” Through green spaces and community atmospheres, it blends natural and urban vibes and has been affectionately nicknamed “Little Cheung Yi.” Compared to high-net-worth individuals’ goal-oriented consumption, Hong Kong visitors here have a more everyday lifestyle profile, with Hema as a key anchor store particularly popular among them. According to project feedback, Hong Kong shoppers consistently make up 20%-30% of visitors.From the practices across these different project types, it is clear that under Yinli South China’s platform coordination system, the “Hong Kong consumer economy” is no longer a one-size-fits-all proposition. Instead, it resembles a continuously refined and enriched map. Every location, every customer segment, deserves careful understanding and thoughtful response.

Especially in an era of increasingly fragmented consumer attention, true competition is not about who has louder marketing noise, but who understands their positioning, who their visitors are, and why they are willing to stay.For Yinli, now in its 22nd year, Shenzhen is not only its headquarters but also the main stage for strategic cultivation. Currently, Yinli South China manages 15 projects in Shenzhen, spanning four key product lines: specialty streets, shopping centers, community commerce, and station-based commercial spaces, achieving comprehensive coverage across the city’s major administrative districts. This demonstrates not only a profound understanding of the city’s urban fabric but also provides a solid model for platform-based localized operations.

The reopening of iN City Plaza epitomizes this strategic path. In Shenzhen—a market where rhythm has stabilized and competition has become increasingly rational—Yinli South China continuously injects new vitality into urban spaces through precise site selection, scenario innovation, and content renewal, delivering results that exceed expectations.This is not a short-term approach relying on noise to attract attention; rather, it is a clear, solid, and sustainable growth trajectory, driven by organizational coordination and the continuous evolution of platform capabilities.For today’s Shenzhen commercial sector, how to transition from hype to rationality, and from isolated breakthroughs to system-wide coordination, represents a highly instructive example.