Articles by 五童五童

The Wave of Store Closures in County Towns Is Far More Brutal Than We Imagined

A set of data from McKinsey is changing the face of China's county towns. It predicts that by 2030, over 66% of China's personal consumption growth will come from markets in third-tier and below cities, county towns, and townships. For a time, the 'sinking market' became a new trend in the national consensus. Public opinion praised it, capital rushed in, and brands went down-market. Everyone was convinced that county towns would be the core battleground for boosting consumption in the next decade. But when we actually took a tour of county towns, we found that many storefronts had already pulled down their rolling shutters, and printed 'prime location for transfer' signs were even fading. Most of the stores still open had empty seats and owners scrolling through Douyin. The wave of store closures in county towns is far more brutal than we imagined.