Issue 958
This National Day holiday, although the weather in Zhengzhou is gradually getting cooler, the popularity of various shopping malls is continuously heating up. In a blink of an eye, 2020 has entered the fourth quarter, and it is also the most prosperous sales season for all stores in a year. Although affected by the new crown epidemic in the beginning of the year, various brands are relatively cautious in ordering winter clothing, but as the normalization of anti-epidemic in May, the market is gradually recovering, and the total sales of goods will start from mid to late May. , The absolute value gap with the performance of the same period in 2019 is gradually narrowing.
Dennis City of David under the night
Image source: Photographer Liu Lang
According to Tony’s understanding, the total sales of Dennis City of David to July of this year have been the same as that of the same period last year , which means that it has been comprehensive since March After the resumption of work, it only took 5 months to "track" the sales "lost" in the first quarter due to the impact of the epidemic. In addition to the return of consumer confidence, the efforts and dedication of Dennis and the tenants of the City of David are even more important. Inseparable.
Because of the epidemic, this year's commercial market has also appeared inconsistent with past historical experience. For example:
passenger flow has slowed year-on-year growth,
travel and purchase frequency have declined,
bag picking rate has increased significantly,
customer orders of various formats have increased by different degrees, and the phenomenon above
directly reflects the baptism of the epidemic and the return of consumers Rational consumption, reasonable planning of travel routes and time while reducing travel frequency as much as possible, and increasing single purchases also indirectly show that the return of commercial value comes from the continuous excavation and creation of commodity power. It is the core value and competitiveness of physical business to continuously create high-quality products with core products and continuously improve the customer transfer value of core products.
is a large-scale commercial complex located in the central city. Dennis City of David is based on the genes of department stores and continues to achieve the ultimate in product power shaping and mining. This is inseparable from the adjustment after the epidemic. What thoughts and tactics did the City of David do after
?
1, the first store
From LOEWE, Tom Ford, Acupuncture in the first half of the year, to Lululemon, MLB, Vetements, Xlarge, Converse Pinnacle (Converse's top image store) and other brands in the second half of the year, the "first store economy" has been opened one after another. It has become the main theme of the adjustment throughout the city of David and one of the important ways for it to form a positive "interaction" with customers.
, especially the pursuit of the “first store economy” reflected from the market in recent years, is more regarded as a city’s accumulated thickness of commerce, the breadth of policy opening, the maturity of retail infrastructure, and the degree to which citizens accept new things. Upgrading and innovation under factors.
So in the last quarter of this year, which first stores will David City open? According to editor Tony, after the LOEWE pop-up store on the first floor, another luxury brand under the LVMH group will take over the baton; the Mall area on the second floor will open up high-end denim brands from the United States 7 For Aor Mankind, the full-category flagship store (coffee, baking, home furnishing) of the local original home lifestyle brand DZH HOME; in addition, there will also be a Thai Select restaurant officially certified by the Thai government on the 11th floor. Fragrant Rice Thai Restaurant (Editor-in-Chief Tony has just experienced it in Joy City Xi’an, and I believe it will refresh the traffic of Dianping and Xiaohongshu again after opening)
The Thai fragrant rice restaurant
2, updated
on the 11th floor of the City of David. With the continuous return of luxury consumption, high-end shopping malls have become more and more luxury brands competing for entry. As one of the most rapid and prominent luxury brands with brand popularity and revenue growth in recent years, the cooperation between Gucci and Dennis Group began in Dennis Department Store People's Store, and became the "door god" of the project when Dennis David City opened in 2015. . Now that five years have passed, as the brand's national sales performance among the TOP10 stores, the David City store has also recently closed its store to start a brand new image upgrade.
As Alessandro Michele became the creative director of Gucci brand three years ago, the brand is in the hearts of consumersThe eyes are shaped into a new impression of retro, gorgeous but exaggerated childishness. In addition to reflecting on the product level, the store design has also undergone major changes compared to before.
Gucci Dennis City of David Store under renovation
Gucci's latest image of domestic stores
Gucci City of David Temporary Store (during the upgrade and renovation)
Dennis City of David Store, as the only Gucci store in Henan, has also stepped into Beijing SKP store, Shenzhen Vientiane Following in the footsteps of the City Store and Wuhan International Plaza Store, they joined the image upgrade and transformation team. According to the understanding of Zhengzhou Commercial Observation, the facade of Gucci's David City store will be presented in an all-stone manner, thus showing the brand's elegant and modern eclectic aesthetics. In terms of merchandise, it will also further consolidate the series of products such as leather goods and bags. At the same time, further strengthen men's and women's clothing. It is expected that the store will reopen at the end of January 2021. During the upgrading period, Gucci will continue to operate as a temporary store in the main atrium on the first floor of the City of David.
In addition, the fourth floor of the Mall area has also undergone major changes in this round of updates. Following the high popularity and high performance after the opening of Nike Beacon and Adidas Mega on the third floor of Mall in 2017, the City of David also launched adjustments to the atmosphere of the flagship sports store on the fourth floor of the Mall area after the epidemic this year. . Introduced the first MLB Henan store (the brand will reopen the market after the change from the US version to the Korean version), Xlarge Henan first store, VANS brand new image store, ConversePinnacle (Converse top image store), FILA flagship store in all categories , Skechers flagship store in all categories. Further strengthen the sports-themed atmosphere and merchandise power of the Mall area.
Mall district fourth floor adjustment
B1 catering adjustment
In addition to the retail category, the renewal of the catering business is mainly concentrated on the B1 floor. A major renovation has been made on the active line to the supermarket, and more than ten catering brands have been introduced. For example, Sanqu Gusi Wagyu Burger, Maimo, Maiji Milk Tea, Peter's Ranch, Jiratu, etc. It can be seen that with the further breakdown of consumer demand for catering, fashionable catering with distinctive decorations, moderate customer unit prices, and a certain topic of communication is gradually becoming the darling of various commercial projects in Zhengzhou.
3, new project thinking
completed the acquisition of Capital Mall Erqi (Zhengzhou Erqi Project, the original Beijing Hualian Rental Property) project at the end of May, Dennis once stood at the peak of public opinion, how to position and how to trade Become the focus of industry attention.
After a period of thinking, in the opinion of the editor-in-chief of Tony, the most likely development direction of the project is to integrate with Dennis’s City of David’s current positioning and future development plans, and to continue the overall positioning of the City of David. development Goals.
Because of the current format and product mix, Dennis City of David has successively introduced many luxury brands such as Louis Vuitton, Gucci, Cartier, etc. After several rounds of transformation and adjustments in the cosmetics area, the number of brands on the first floor is relatively large. A substantial expansion has been achieved when it opened in 2015. From the perspective of rapid growth in sales performance, especially the introduction of top brands has reached an urgent time. After more top luxury brands enter, the transfer and placement of the original store brands has become a problem that must be resolved. At this time, the purchase of properties close to the project from CapitaLand also laid the foundation for the overall development of the City of David and the migration of some brands in the future. Domestically, such as Beijing SKP-S, Hangzhou Tower, Nanjing Deji Plaza are all reference objects.
Conclusion of this article: The market is changing, the trader seeks stability, and capital is looking at the long-term
. Today, with the changes in consumer behavior, shopping malls have also changed their past [trading fairs] and [buy, buy, and buy]. Cognition and impression, take advantage of the trend to reshape yourself into a gathering place full of lifestyles such as social interaction, reading, sports, and exhibitions.
Although at the end of this article, the editor-in-chief Tony analyzes Dennis’s possible positioning and trading direction for the new project from a speculative perspective, but the direction he will choose to develop in the end depends on his consideration of this asset. And the development position of the entire group in the future Erqi business district. But one thing, no matterWhether it is an industrial upgrade or a conceptual change, a breakthrough must be made in positioning. The core reference value of this [Breakthrough] does not depend on past performance, but is derived from market trends and development judgments in the next 5-6 years. In other words, in the past, our thinking logic was based on "product thinking", but today, we are shifting to "user thinking" and "brand thinking".
