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The Changes Of Consumers And Market Promote The Upgrading Of Department Stores In Different Regions

2022/5/7 14:54:00 2

Department store is a fashion leader and consumer gathering place, a representative of the city's commercial prosperity, and an indispensable market channel for high-end brands

Under the adverse factors such as repeated epidemic situation and weak consumption, there are still many department stores with record performance. Their performance is enough to prove that department stores are still the main channel of fashion consumption and quality consumption.

High end department stores with outstanding performance

According to the top 50 of the national shopping center sales list in 2021, the turnover of 3 shopping centers exceeds 20 billion yuan, and the turnover of 13 shopping centers exceeds 10 billion yuan, 4 more than that in 2020, and 35 shopping centers with performance above 5 billion yuan. Among the top 50 shopping centers, only one has negative growth.

In 2022, the number one shopping center in China ranked No.1 in terms of sales volume and sales volume of SKP, which ranked No.1 in China with sales volume of nearly RMB 24 billion. Beijing International Trade mall and Nanjing Deji Plaza are closely followed, with sales of more than 20 billion yuan in 2021.

In addition, many "black horses" have sprung up. The sales of Chengdu ifs and Chengdu Yuanyang taiguli, which are located in the online popular tourist city, are nearly 10 billion yuan, and Denis Davidson, Zhengzhou, is among the top ten for the first time.

The common feature of these department stores is that luxury goods account for a large proportion. Thanks to the return of luxury consumption, the sales of these enterprises have increased significantly.

According to China luxury report 2020-2021 released by VIP Research Institute, China will become the world's largest luxury market for the first time in 2021. In 2020, China's domestic consumption of luxury goods will increase from 31% to 56%. For the first time, domestic consumption is greater than overseas consumption, and this data will further increase to 64% in 2021.

The upsurge of luxury market demand promotes the sales promotion of high-end commerce. The duty-free shops in various places that are not listed in the list of shopping centers will also achieve rapid growth in 2021. For example, the sales of Sanya Haitang Bay duty-free city will exceed 30 billion yuan, and the performance of CDF Haikou Riyue Plaza duty-free shops will also exceed 10 billion yuan.

Based on strong market performance and high consumer demand, luxury brands recovered from the second half of 2020 began to invest more and more resources into the Chinese market. Holding shows, exhibitions and social media marketing are auxiliary means, and the ultimate goal is to attract customers to shop for consumption, and this goal will also be achieved by accelerating the layout of stores.

For luxury goods, department stores have the advantages of strong category combination ability, high reputation for consumers, and good brand image. These characteristics match the image and positioning of luxury goods, so they become the most important channel for the layout of luxury goods.

The adjustment, reform and upgrading of department stores have been accelerated

Facing the "Involution" of high-end shopping centers in the new era of consumption, adjustment and reform become the development needs of department stores. According to the incomplete statistics of Yingshang big data, in 2020, there are 37 commercial transformation projects, with a volume of more than 4 million square meters, accounting for about 10% of the total volume, which is about twice as much as that in 2018.

Therefore, it is necessary to adjust the positioning of consumers to meet the needs of the target groups. On this basis, department stores for the target consumer groups, around a variety of scenarios to do a solid combination of goods is essential.

Although the pace of adjustment, reform and upgrading is speeding up, most department stores do not plan to significantly adjust the current format. Compared with format adjustment, spatial change and hardware adjustment can directly bring visual impact to consumers. The freshness, interest and differentiation of commercial space have strong attraction for consumers, which can effectively gather popularity and increase passenger flow.

Along with the overall transformation of Wangfujing group, its Dong'an Market has begun to be younger. Dong'an Market will be closed in December 2020 for the largest scale transformation and upgrading in 23 years. The transformation positioning is "fashion buyer's department store" and "fashion theme block". It is mainly based on the department store's own brand and operation team, and is managed by the buyer and the sales team according to their own brand positioning.

At present, Dong'an Market has comprehensively improved the shopping environment, added art installations, and become Beijing's landmark "punch in" shopping mall.

On the way of stock transformation, in addition to the adjustment and upgrading of department stores themselves, some real estate developers and e-commerce platforms have taken over the declining commercial projects or acquired old shopping malls to enter the market. For example, Wanda business management group took over the original Ledo port outlets shopping center and transformed it into Wanda Plaza in leduogang, Beijing, which was opened on December 18, 2020; The Wangjing street in Chaoyang, Beijing, which was transformed by Vanke, opened on August 8, 2020, becoming a new international commercial street integrating office, shopping and leisure; Vipshop entered the commercial real estate for the first time. The vipshop (Hefei) city olai opened its business in Hefei, Anhui Province on December 24, 2020, creating a city experience of "close to home, good brand and high price". Its predecessor was Anliang international trade center.

It can be seen that more and more department stores and enterprises have planned the future adjustment and upgrading plan. With more and more successful cases, the reference value of department store industry is also increasing, which will further attract more forces to participate and promote the upgrading of the department store industry.