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According to incomplete statistics, in the first half of 2024, nearly 40 key shopping malls in Nanjing will adjust more than 500 new stores, of which 20 shopping malls with more than 20 new stores are: Nanjing IFC Shopping Mall, Nanjing Jingfeng Center, Golden Eagle Lakeside World, Deji Plaza, Nanjing Central Shopping Mall Xinjiekou Store, Golden Eagle World, Daguan Tiandi Mall, Nanjing Pengxin Aqua City, Huacai Tiandi, Nanjing Hongyang Plaza, etc.
○ What kind of signal does the dense new shopping mall send? In the face of market competition, how can shopping malls stand out?01The retail and catering formats have the largest number of new stores
○ In terms of the proportion of new stores, in the first half of the year, the retail format accounted for 45%, the catering format accounted for 43%, the children’s parent-child format accounted for 6%, the cultural, sports and entertainment format accounted for 5%, and the other business format accounted for 1%.
○ In terms of retail, clothing, beauty, jewelry and other categories have always been the focus of shopping malls. Among them, clothing, shoes and hats have introduced 361° and 73 HOURS、anis、ARIOSE More than 100 brands, such as YEARS, AUM, Kashima Club, Gedi, National Geographic, Jiaoxia, and CHHU, occupy half of the retail sector. In terms of beauty, 3CE was introduced STYLENANDA, L’Oreal, Mason Margiela, Mico, the New stores such as whoo, GUERLAIN, Winona, etc. In the jewelry category, Shengshi Yumantang, Chow Tai Jin, Chow Tai Sheng, Zhou Shengsheng, Shanghai Huyi Gold Store, Lao Fengxiang, Lao Miao Guyun, Baoqing Silver Building, Pandora Jewelry, Chengfu Jinguan and other brand new stores were opened.
○ In the catering industry, coffee, new tea drinks, and bakery continue to make efforts. Peet’s Coffee、M Stand、Umber Coffee, Bixing Coffee, Maokong Coffee, Starbucks and other coffee brands, Blueglass Yogurt, Bawang Tea Ji, Grandma Handmade, Tea Baidao, Tea Talk, Tea Yan Yuese, Tea Yiji, Tea Yunjia, Oriental Molan, Chunxi Xie Tea, Lu Quinoa opened a recipe, Jasmine Milk White, Hey Tea, Coconut Table Water, Jacques Yalts, Xiaojinjin Handmade Tea, coco, is Lemon, Ningji and other new tea brands, CIAO Panificio Italy Bread Museum, the Roll’ING handmade Switzerland rolls, window moss, red sports cars, fermented villas, western tree puffs, a bagel and other baking brands, opened a number of new stores.
○ In addition, shopping malls are paying more and more attention to “playing with young people” when changing their brands. For example, the pan-ACG business of Aqua City has a planned area of nearly 6,000 square meters, and more than 20 ACG merchants have been introduced so far, including the industry’s leading brands such as Mock Bear, GOODSLOVE, Mansoul, Maoshouwu, Manku, Chao Play Planet, Xumi Goods, bilibiliGoods, etc.
○ In terms of first stores, in the first half of 2024, Nanjing will introduce a total of 197 first stores of various types (the first stores at the city level and above), including 2 first stores in the world, 7 first stores in China, 5 first stores in East China, 48 first stores in Jiangsu, and 135 first stores in Nanjing, and the number and energy level of the first stores will remain at a high level.
02The wind of “explosive reform” still blew to the mall
○ Since the beginning of this year, many shopping malls in Nanjing have been intensively new. Whether it is a large-scale commercial complex based on experiential consumption, a high-end shopping mall that gathers many international brands, or an outlet mall that can walk both children and shop, they are seeking a path of transformation and development in the face of fierce market competition.
○ On July 26, Nanjing IFC Mall (Nanjing IFC) was officially opened. This luxury business complex has brought together 168 international high-end fashion brands and specialty restaurants, attracting 50 brands to open their first stores in Nanjing for the first time.
○ At the beginning of the year, Xinjiekou, the “No. 1 business district in China”, began to be renovated and upgraded, and the streets, small shops, and shopping malls were replaced with new clothes, bringing everyone a new consumer experience. The Xinjiekou store of the central shopping mall focuses on light luxury consumption, the first store economy, and the overall improvement of the Internet celebrity national tide, the vertical circulation line from the first floor to the seventh floor of Block A of Nanjing Xinbai Center Store has been adjusted, the glass curtain wall of Dayang Department Store Xinjiekou store is full of texture, and the façade of IFCX has been upgraded to a steel keel glass curtain wall and aluminum plate system, which is not only stronger and safer, but also has a more concise and atmospheric appearance.
○ Today’s shopping malls are no longer just shopping malls, but also have a variety of functions such as entertainment and culture. Zhang Jianping, director of the Regional Economic Cooperation Research Center of the Ministry of Commerce Research Institute, said that with the continuous emergence of new forms of consumption and more diversified consumer demand, commercial complexes need to make changes in the face of the new situation. Paying attention to catering, improving services, and increasing entertainment functions are all ways to attract consumers and meet the diverse needs of consumers.
03How to maintain customer flow after the freshness has passed?
○ Many consumers have given comments on Nanjing’s popular commercial complexes as “easy to visit”, “convenient” and “good experience”. Today’s commercial complexes have mostly become places of quality life, integrating clothing, jewelry, catering, leisure sports, digital toys, children’s entertainment, cute pets, new energy vehicles and other diversified formats, and family customers can basically achieve one-stop convenient consumption in one shopping mall. The abundant formats and brands have brought more convenience and choices to consumers, and have also gained customer flow and performance.
○ “Good shopping” is also reflected in the intimate services provided by the commercial complex to the perception of consumers’ subtle needs. Nowadays, more and more shopping malls have become pet-friendly and child-friendly, and many commercial complexes have renovated and upgraded mother-and-baby rooms and barrier-free facilities to provide consumers with a more comfortable shopping experience.
○ Zhou Qingjie, executive dean of the Institute of New Business Economics of Beijing Technology and Business University, said that for offline commercial complexes, it is most important to provide consumers with a good consumption experience. The experience is multifaceted, ranging from the shopping experience to good parking, hygiene and a reasonable return process. In the face of the impact of new online retail formats, only by providing higher quality goods and better services can consumers be attracted to go out of their homes.
○ Rational consumption has gradually become the current mainstream. In addition to the introduction of new stores, the commercial complex should also create formats and scenes suitable for the lifestyle and life attitude of modern people, especially young people, integrate new aesthetic and emotional experiences with life inertia, and constantly give the commercial space a richer connotation, attract consumers to come in and stop, and realize the transformation from scene drainage to sales performance.
