Zhu Wenhuan, Managing Director of CapitaLand (China) North China
As the prevention and control of the new coronavirus pneumonia epidemic enters the normalization stage, CapitaLand North China has adopted a variety of measures to deal with it Various changes in the "post-epidemic era". Recently, Zhu Wenhuan, managing director of CapitaLand North China, announced five major "new plans". He said that CapitaLand has proactively accelerated iterative upgrades based on a profound analysis of the market environment and its own development. "We use the refined management ideas of farming culture to create a shopping mall with characteristics and soul, deeply integrate online and offline to create a sustainable Mall ecosystem, seize the opportunity of the Winter Olympics, cooperate with the majority of brands to win, and lead Consumption upgrade. ”
Opportunities and challenges in the post-epidemic period
The recurrence of the new coronavirus epidemic has had a considerable impact on CapitaLand’s 15 commercial projects in North China, especially It is Beijing's eight commercial projects that occupy major business districts and transportation hubs in different locations, and the impact is more obvious. In January 2021, affected by the COVID-19 epidemic, CapitaMall Xizhimen in Beijing was suspended for a week, and CapitaMall Tiangongyuan was closed for about half a month.
"Every time I report back to the headquarters, I tell my leaders that our projects in North China are very hard work." Zhu Wenhuan, who has been in the company for more than a year, said with a smile that his team does not worship Buddha, but only wants to worship tenants. “During the first wave of the COVID-19 epidemic, all 15 of our projects in North China were affected, but that makes sense because all of China was affected at that time. After the large-scale epidemic ended, cities in the south and west were affected. It has gradually recovered. But the second wave of the epidemic came to North China very quickly, in Harbin in April last year, in Xinfadi in Beijing in June, and in Dalian in July. We thought that this wave had passed, but we did not expect that the third wave would come again. "It came to Qingdao in October last year, and then came again to Dalian in December." Zhu Wenhuan lamented that every time he thought the epidemic was over, it always happened again, and Beijing and Harbin were affected again in the first quarter of this year. But they still believe that the domestic epidemic will be well controlled.
"The 'dual circulation' strategy will bring about a new round of consumption upgrades, which will create huge opportunities for the development of commercial real estate. North China is an important strategic region and performance engine for CapitaLand, and is a strategic location for group shopping The region with the largest number of centers accounts for more than 30% of the Chinese market. This year happens to be the 15th year that CapitaLand Commercial Management has entered the North China region. We are confident in the northern market and will develop it in the long term." CapitaLand (China) Commercial Management. CEO Chen Yongming said.
It is reported that CapitaLand has cooperated with more than 2,700 brands in 15 projects in North China. In the face of the normalization of COVID-19 epidemic prevention and control, many brands still maintain their vitality, adapt to the trend, and look for new development opportunities.
Take the new fitness brand SUPERMONKEY as an example. Originally, the brand focused on offline courses, but now it has also expanded the sales of corporate courses and online courses, and also cooperates with shopping malls and venues every week. Brands launch joint activities. “The main goal of online services is to help consumers improve fitness efficiency and provide members with auxiliary training at home, in the office, and when traveling outdoors. We have opened recorded and live online courses, as well as derivatives sales, and set up WeChat The group provides services, and also hopes to expand membership and mutual promotion activities through online third-party channels. "Super Orangutan partner Chen Jun said that the entire industry has begun to recover since July 2020, and entered a period of rapid recovery and even outbreak in October. Even better than before COVID-19. This year's Spring Festival, in response to the government's call to celebrate the New Year in situ, the performance of the catering, movie, and fitness industries has increased particularly significantly. Super Orangutan has increased by 15%-20% compared with the same period in 2019.
“The COVID-19 epidemic has accelerated the process of industry reshuffling, from traditional small businesses in large industries to centralized development. Companies with complete supply chains are stronger and can open stores faster, and companies that survive They have more tenacity and fighting spirit, and pay more attention to organization, management and positioning." Wang Gang, founder and chairman of Meizhou Dongpo, said that the overall recovery of the catering industry is improving, and Meizhou Dongpo's revenue increased in the first quarter of this year. 16%.
The right time, the right place and the right people
"After careful consideration, we believe that this is a logical and very pragmatic comprehensive strategic deployment, which can enable us to achieve better results in the next three to three years." In five years, under the shadow of the black swan of the new coronavirus epidemic, I dare not say that we can survive, but at least we can survive.” What Zhu Wenhuan calls a “logical and pragmatic comprehensive strategic plan” is the city. There are three major projects: the business card project, the life circle project, and the refined management project, as well as the two plans of the Winter Olympics Strategic Plan and the Strategic Partner Plan.
For Zhu Wenhuan, who has been officially transferred to CapitaLand (China) North China as Managing Director of North China on January 1, 2020, this is the first time he has announced CapitaLand North China after taking office for more than a year. overall strategic play.
As for the Winter Olympics strategic plan, it is "the right time" in Zhu Wenhuan's eyes. In his view, following the 2008 Beijing Olympics, the 2022 Beijing Winter Olympics will be a new development opportunity. “We named the Winter Olympics strategy the Winter Olympics Iron Triangle. The east gate is Raffles City Beijing, which is located at the Dongzhimen transportation hub, with Beijing Capital Airport as the input point, and the south gate is CapitaMall Tiangongyuan, with Daxing Airport as its entry point. As the input point, it then converges to the west gate, located at CapitaMall Xizhimen next to Beijing North Railway Station, the only channel to Zhangjiakou. This is our Winter Olympics strategy. ”
Finally, the strategic partnership plan. He is the "Renhe" of CapitaLand North China District. Zhu Wenhuan introduced that CapitaLand will look for partners who trust and rely on each other from six dimensions, including the number of cooperation, rental contribution, and cooperation with CapitaMall Mall, and provide priority in many aspects such as investment promotion, operations, marketing, and online malls. Service support includes providing market dynamic information, a certain amount of preferential space, market activity support, platform publicity and promotion, etc. In addition, there are regular sharing and exchange meetings, brand channel expansion and a series of value-added services.
CapitaLand’s Innovation
With the right people at the right time and the right place, the core of the development of CapitaLand North China is actually the word "renewal".
Judging from the 15 projects in North China, most of them are existing commercial projects, especially the 8 commercial projects in Beijing. Except for CapitaMall Tiangongyuan, they have been in operation for a long time, and 4 of them have been in operation for a long time. This project has a history of more than ten years. At present, CapitaLand Group has no plans to open new commercial projects in North China. How to stimulate new vitality in these existing commercial projects has become the current main task of North China.
There is no doubt that commercial projects need a refresh. As for how to refresh, CapitaLand is currently planning to start from both the shopping mall and brand aspects.
On the one hand, CapitaLand North China has comprehensively implemented its digital strategy and achieved positive results. According to Zhu Wenhuan, as of the first quarter of 2021, 30.8% of offline tenants have settled in CapitaMall, and online sales have reached nearly 80 million yuan in the past year. At present, the rapid recovery of catering, jewelry, sports fashion clothing and other business formats has led to the steady recovery of the performance of various shopping malls. In the first quarter of 2021, the sales and square footage of CapitaMall Metroplex exceeded those before the COVID-19 epidemic (2019) levels, a year-on-year increase of 7% and 6.5% respectively.
It is reported that in addition to continuing the original operation method, CapitaLand North China has also made a number of innovative attempts on the online platform this year, including launching the entire shopping mall online, issuing general vouchers for the entire site, and introducing the third Third-party brands sell IP customized products, etc., constantly optimize online experience, and promote "integrated" and "sustainable" business operations.
On the other hand, CapitaLand North China has made great efforts in brand renewal. In 2020, the brands of catering, education, experience and other formats in various shopping malls will be fully refreshed, with the refresh rate exceeding 20%. Focusing on the "first store economy" strategy, North China has introduced about 300 first stores, Internet celebrity stores, and concept stores, providing consumers with a wealth of new products and new experiences.
Beijing CapitaMall Tiangongyuan is currently undergoing a brand refresh.
Of course, how to attract brands to settle in is also an important "homework" for CapitaLand North China. At present, many brands are optimistic about the venue atmosphere created by CapitaLand. In other words, CapitaLand operates with the ideas of a space exhibitor, which is recognized by the market.
“CapitaLand is our benchmark for location selection. Its shopping mall’s location, positioning, service facilities (catering, clothing, beauty, leisure, entertainment), and customer base (young, trendy) ), are complementary to the needs of our target customers.” According to Chen Jun, Super Orangutan has cooperated with 17 CapitaLand stores and opened more than 25 classrooms, including 3 commercial projects in Beijing in the North District. Wang Gang revealed that Meizhou Dongpo has opened 4 stores in CapitaLand, located in Wuhan, Shanghai, and Beijing, and new stores in Beijing are also under preparation. "Meizhou Dongpo has set up four store formats. In the next one or two years, we plan to use 'Meizhou Dongpo Bistro' as the main format to fully enter CapitaLand's shopping malls across the country."
Zhu Wenhuan It is believed that the ultimate goal of CapitaLand North China District is to build the shopping mall into a third space for modern young people’s lives in addition to their homes and workplaces. "It must be a place for emotional communication, it must have culture, it must have connotation, and it must have a soul, so that consumers will return to this mall again and again." Zhu Wenhuan said: " We hold a new-minded attitude and hope that we can work with everyone to innovate and update, work hard to cultivate our shopping malls, and work together to make new businesses better and more attractive and attractive in the next three to five years. Competitiveness. ”