Today, when cross-border mashups are popular, commercial real estate and retail business are ushering in a new period of change. Business elites from all walks of life are discussing a new concept: "new business", whether it is an Internet e-commerce tycoon or a physical retail chain.

Commercial real estate tycoons are all responding to the changes in the business environment brought about by the application of information technology. The concept of "new business" has become the hottest topic in the capital market industry, asset management industry, marketing industry, cultural and creative circles and entrepreneurial circles.

one of the topics.

"New business" civilization is the business civilization of the information age. It is a new business civilization that has emerged with the development and influence of information technology.

The business model under the new commercial civilization is "mass personalized customization" for consumers with flexible manufacturing, personalized marketing, and socialized logistics as the pillars.

On Black Friday in the United States in 2016 (the day after Thanksgiving), JC Penny promoted through multiple channels, including web page display, TV ads, online videos, emails, promotional materials, social media, Apps, etc.! In

Under the new business trend, the integration of online and offline, the communication of information and experience, the interaction between merchants and customers, and new business rules have become the research directions for future business breakthroughs.

As early as around 2010, elites in the industry began to carry out the "Noah's Ark Plan" to deal with "new business". We also started research on "Business 4.0" five years ago.

The era of the Internet of Everything is coming, and new experience technologies and artificial intelligence will subvert the current business operations in the next five years.

Business 4.0 is a new model in the era of integration of things and the Internet. Our research on the impact on people is not limited to the five senses (sight, hearing, smell, taste, touch). In addition to meeting functional and structural needs, it also needs to be enriched with emotions (right

brain + business) satisfaction.

We study many topics, not only business model innovation in the new environment, but also related to future commercial application technologies.

Here, I am going to briefly share the several links involved in “new business” based on the current situation.

How to attract money from commercial real estate. The earliest commercial shopping malls developed in China were Shanghai Plaza 66 and Plaza 66. I left my own business in the United States in 1993 and returned to China to be responsible for the development of these two projects.

In the past three consecutive years, Hang Lung and Grand Gateway have respectively achieved the highest rental revenue per square meter and the highest rental unit price in domestic shopping malls.

The average annual square footage of Plaza 66 exceeds RMB 120/day/. As an overseas listed company project, from the perspective of international investors, this is also a benchmark in China's commercial real estate industry.

Hang Lung Group's commercial real estate in Hong Kong is mainly concentrated in Causeway Bay, Hong Kong, where land is at a premium. However, when planning the Gateway Plaza, we designed a large atrium, accounting for about 45% of the public area.

When we were doing preliminary planning in the early 1990s, we had already foreseen the future of diverse marketing applications and operational promotion activities in the atrium.

Today's physical stores are facing the impact of e-commerce in the era of big links, and they need an atrium of sufficient size to carry out different promotion activities. This is the gene of some successful commercial real estate.

At that time, there were also different voices questioning that the public area of ??Ganghui Plaza was too large and had no income.

"Why invest so much money in the atrium?" However, the operating data for many years after the opening proved that the rent collected for each event far exceeded the rent of the store.

Everything requires some breakthroughs in thinking, especially in the era of big links, where innovation is everywhere.

But in the 1990s, when China's shopping malls were just starting out, we combined our relatively mature international experience in shopping malls to innovatively create China's first multiplex cinema in the planning and design of Ganghui Plaza. At the same time, because the shopping mall is very large,

There was a need for fire protection zones, so the fire department cut a 13-meter fire escape from the middle. What we were thinking about at that time was how to make the deserted fire escape alive.

If you have been to Ganghui Plaza, what you have noticed or thought was good was the innovative casual food pedestrian street at that time.

Preliminary positioning is very important in any era. From the perspective of asset management, why can we still think about building a luxury shopping mall after the Asian financial crisis? The positioning of shopping malls must focus on future trends.

Instead of just focusing on the immediate consumer market, according to the consumption level in the late 1990s, China was not enough to support the consumer market of top luxury brands. However, considering China’s double-digit economic growth and per capita income in the past thirty years,

Therefore, we have made some very bold business restructuring and adjustments to become the top luxury shopping mall in China.

If you look at the annual report of Hang Lung Corporation, the rental income in 2015 was HK$4.194 billion. This is a very healthy and stable cash flow. This is also the very charming thing about commercial real estate. It is income that comes continuously and orderly.