Group 1 - The "May Day" holiday is traditionally a peak season for consumer spending, with new shopping malls opening to capture market share and boost consumption, especially in the context of a recovering cultural and tourism economy [1][2] - This year, the commercial real estate sector has seen a significant decline in the number of new mall openings, indicating a shift in industry dynamics as it enters a phase of saturation and increased competition [2][3] - Developers are now more cautious about opening new malls, preferring to time openings based on project readiness rather than following the previous trend of launching multiple projects simultaneously during peak periods [4][5] Group 2 - Unique and experiential offerings are becoming key strategies for malls to differentiate themselves in a saturated market, with examples including Shanghai's "Cha Cha Valley" and the "Urban Living Room" concept in Nanjing [4][7] - The "first store economy" remains a crucial competitive advantage for developers, with many new projects focusing on attracting flagship and first-time brands to create a unique shopping experience [13][14] - The integration of cultural elements and innovative experiences is essential for malls to thrive in the current environment, as seen in initiatives like AI-driven shopping experiences and cultural events [19][21]