Singapore firms tap China's experience economy with immersive dining and exhibitions

Singapore companies are capitalising on China's growing experience economy, with CapitaLand's Raffles City The Bund in Shanghai featuring an immersive dinner theatre that is booked months ahead. Meanwhile, Singapore entertainment firm Neon brought a VR exhibition on Machu Picchu to the Shanghai Muse

Singapore property developer CapitaLand and entertainment company Neon are among the firms cashing in on Chinese consumers' growing appetite for experiences, from immersive dining to interactive exhibitions. At Raffles City The Bund in Shanghai, CapitaLand's shopping mall houses Xuyan, an immersive dinner theatre that transports guests back to China's Tang dynasty, complete with imperial-inspired costumes. A dress-up package costs S$55 (US$43), while seats can go for as much as S$133, yet tickets are booked six to seven months in advance.

China's experience economy reached 18.4 trillion yuan (US$2.8 trillion) by the end of November 2025, up 22.6 per cent year on year, according to the China Academy of Information and Communications Technology. Mr Ervin Yeo, CEO of commercial management at CapitaLand Investment, said that with online retail so prevalent in China, malls must work harder to entice shoppers by offering innovative concepts. “We think more about the experiential part of shopping. What are the things that we enjoy about shopping? The sense of discovery, sense of something new to feel and touch,” he said.

Xuyan's so-called “dinnertainment” concept has also become a hit with international tourists, who now account for about 45 per cent of its diners, up from just 5 to 10 per cent when it opened in February. Mr Rick Garson, its global partner and chief creative officer, said the concept allows people to stretch their dollar. “Instead of just buying a dinner that could be probably around the same price … you're getting a cultural experience, good food, entertainment, a family experience,” he said.

The shift comes amid sluggish consumer spending in China. Retail sales grew just 1.1 per cent in the first nine months of this year, while retail sales of services rose 5 per cent, outpacing the 1 per cent growth in goods sales. Mr Kow Juan Tiang, executive director for China at Enterprise Singapore, said the country's retail landscape is evolving as consumers increasingly spend on services. “It is really about providing an experience to the consumer, and that is the trend that is happening globally. It is also very (prevalent) in China,” he said.

CapitaLand currently manages 49 malls in China, with more in the pipeline. Occupancy rates across its malls are above 94 per cent, while footfall has grown around 2 per cent and sales are up 4 per cent. Beyond shopping malls, Singapore entertainment company Neon brought an immersive exhibition on Machu Picchu to the Shanghai Museum in July, using virtual reality technology and multisensory installations. It is expected to attract more than 3 million visitors over its 16-month run.

Neon's group CEO Ron Tan said even a popular intellectual property franchise no longer guarantees ticket sales in China, where consumers face information overload and shorter attention spans. “When we produce an experience … we try to understand from the (visitor's) point of view, as much as possible,” he said. With China's retail market moving at a faster pace and on a larger scale than Singapore's, Enterprise Singapore said the opportunity for Singapore firms lies in anticipating changing consumer preferences and telling stories that keep customers coming back.