Gen Alpha Is Helping Revive China’s Struggling Malls

Shanghai’s Super Brand Mall was in tough shape as China approached the end of the Covid-19 pandemic shutdown. The two-decade-old building was showing its age, customer visits and revenue had stagnated, and about a third of the storefronts were empty. But today, the 13-story shopping center in the heart of the financial district is brimming with customers, and it consistently figures in “Best Malls in Shanghai” lists on social media. Afternoons and evenings, “it’s nonstop,” says Lily Wang, who works at a playground in the mall. “Kids play while their parents are shopping, and some stay for hours.”

The playground, added last year, highlights what’s driving the turnaround: a reorientation toward the young—a group that increasingly influences spending decisions in Chinese families. The mall today has a “Kids’ Third Home” zone with play areas, theaters, art shows and events tailored to their tastes. Visits and sales revenue for big holidays have seen double-digit annual growth since the renovation was completed in 2023. “I have to bring my daughter there outside peak hours now,” says Serena Li, a 40-year-old finance professional. “It’s literally a sea of humanity on weekends.’’