# Business "builds" up

This February

China Business Experience Creation Festival, "building" means

creating scenes, creating content, creating experiences ...

There is no "building", only unexpected

opening the door to the retail world, <

It has been brewing for a whole summer, and the shopping center finally heard the sound of 2121 crowds during the Mid-Autumn Festival and the National Day.

the imperial city of Beijing received 9.982 million tourists during the 8-day long holiday, up 8.4% year-on-year, and gradually stepped out of the haze of the second epidemic and advanced to the first echelon of commercial recovery and rebound. Creative marketing with "national tide, domestic products, national style and national rhyme" as the main line is staged in major shopping malls in turn.

Chongqing, the magical city, saw more than 2.47 million visitors from other places during the two festivals, and the retail sales of key monitoring business enterprises reached 27.62 billion yuan. Among them, Raffles online celebrity punched in the mall, with more than 2 million passengers and sales of nearly 91 million yuan.

Southern China's Shenzhen and Dongguan, Organic Farm, Cherry Maruko Exhibition, Mid-Autumn Festival Parade Exhibition ... all major shopping centers have made great moves to unlock the fresh gathering game. It is reported that the retail sales of "Vientiane" series shopping center projects under China Resources Group reached 2.947 billion yuan in the whole two festivals.

this "bottoming out" of passenger flow is, of course, indispensable to the preparation of customers in the third quarter. According to the data of 1715 shopping centers (with a commercial area of 31,111) in the first, second, third and fourth tier cities in China, the average passenger flow of sample projects has recovered by over 111% by the end of September.

Although confirmed cases were imported from overseas, and asymptomatic infected people continued to report, the recovery of passenger flow declined slightly in September, but as far as the general trend is concerned, 11-12 is still a good opportunity for shopping centers to catch up and make up for losses.

First, the general trend of recovery is prominent, and the "Double Festival" passenger flow has recovered to 71.8% of New Year's Day

Looking back on the first three quarters, the epidemic has dealt a heavy blow to the physical business, and the passenger flow in the first quarter experienced a fluctuating process from a cliff-like decline in February to a sharp rebound in March. In the second quarter, the fluctuation of passenger flow gradually stabilized, and the fluctuation of passenger flow in June was 7.5%. In July and August, it also remained at around 11%.

According to the monthly average daily passenger flow, it has always maintained an upward trend from February to August, and the passenger flow of all tier cities has increased month by month. Due to the end of the summer vacation in July and August, and repeated epidemics in some areas, the passenger flow of shopping malls in some cities dropped in September, but it was difficult to stop the recovery trend.

According to the daily average passenger flow of 51 shopping centers in 12 city, there was no obvious fluctuation in the weekend and holiday passenger flow from February to April, but in May to September, the weekend and holiday passenger flow obviously exceeded the working day, which reflected the recovery of consumer confidence and the return to the right track of leisure shopping lifestyle.

During the National Day and Mid-Autumn Festival this year, the number of holiday travelers increased greatly, and the major scenic spots ushered in a dense fireworks atmosphere. According to the statistics of the Ministry of Commerce, from 1 to 8 October, the sales of key monitoring enterprises in retail and catering nationwide were about 1.6 trillion yuan, and the average daily sales increased by 4.9% compared with last year's "Eleventh" Golden Week.

the major shopping malls also ushered in a dense passenger flow. According to the -MALL eye monitoring, compared with the New Year's Day holiday, the average daily passenger flow of 51 typical shopping centers during the "Double Festival" period has recovered by 71%.

In order to meet the "Double Festival" consumption peak, major shopping malls have launched various offline activities, and introduced various special activities including theme IP exhibitions, concerts, art exhibitions, creative markets, situational interactive experiences, food festivals and so on to attract tourists.

For example, SKP and SKP-S in Beijing have successively held traditional folk activities such as "Celebrating the Mid-Autumn Festival, Painting the Rabbit" and "Handmade Sweet Sacks". Chaoyang Joy City held a cultural exhibition around Modern Sky Band.

Joy City Holdings' "Double Festival" performance rebounded rapidly, with sales of commercial projects reaching 814 million yuan, up by 11% year-on-year and 23% month-on-week. At the same time, the average daily sales of four Joy City projects in Xidan, Chaoyang, Shenyang and Nankai, Tianjin all exceeded RMB 11 million.

Second, the first-tier MALL have returned strongly, and the recovery situation is still not as good as that of second-and third-tier cities

In July, the total retail sales of social consumer goods is still declining, with a decline rate of 1.1%; In August, the total retail sales of social consumer goods reached 3,357 billion yuan, up 1.5% year-on-year, which was the first positive growth since this year. With the effective prevention and control of the domestic epidemic, people's consumption enthusiasm has gradually picked up, which has stimulated the recovery of physical business passenger flow.

In terms of tier cities, the passenger flow recovery of shopping centers in second-tier cities is still lower than that in third-and fourth-tier cities from February to June. In June, the passenger flow of shopping centers in second-tier cities has recovered to 94.5% of the pre-epidemic level, while that in third-and fourth-tier cities is 95.9%, and the gap between them is narrowing.

In July, except for the first-tier cities, which recovered to 98.6%, all the other cities exceeded 111%, and the recovery degree of the second-tier, third-and fourth-tier cities was only 1.1%.

In the middle and late July, there was no new report in Beijing for five consecutive days, and the emergency response level was adjusted from Grade II to Grade III. Since July 24th, cinemas in Beijing have resumed business in an orderly manner.

with the release of the epidemic in Beijing, the passenger flow in first-tier cities recovered to 118.7% of the pre-epidemic level in August and to 117.1% in September, and the recovery momentum remained stable.

From the perspective of specific cities, the passenger flow in Beijing did not slowly return to normal until August, and it returned to 115.8% of the pre-epidemic level in September; The passenger flow in Shenzhen remained stable in July and August, and the recovery momentum was curbed in September due to the addition of 4 asymptomatic infected people; From July to September, Guangzhou and Shanghai both maintained a passenger flow recovery rate of over 111%.

in other second-tier cities, due to the repeated impact of the epidemic, the degree of passenger flow recovery declined by several percentage points, but the impact was not significant.

In terms of business districts, municipal business districts and mature business districts are the types that are greatly affected by the epidemic, but have a strong recovery momentum. In August, the recovery degree of municipal business districts reached 116.3%, and that of mature business districts reached 113.8%.

overall, the average passenger flow of various types of business districts recovered by over 111% in the third quarter.

Among the first-tier cities, Beijing's business districts that took the lead in restoring the passenger flow to the pre-epidemic level in August are: CBD, Chaoqing, Sanlitun, Yansha, Yizhuang, etc., and there are 25 business districts that have recovered more than 111% in September; Most of the business districts in Guangzhou, Shanghai and Shenzhen began to recover to epidemic level in July, and there were 17, 36 and 9 business districts with recovery degree exceeding 111% in September.

Among the 13 typical second-tier cities selected, except the Zhongnan business district in Wuhan, the passenger flow of other business districts recovered to the pre-epidemic level of over 111% from July to September, and the Chunxi Road business district in Chengdu even experienced an increase of over 51% in August.

In the Central South Business Circle, which was slightly "left behind" in July, the recovery of passenger flow also ushered in an explosive growth of nearly 45% in September.

big data of winning business-winning in site selection shows that, as one of the five major business districts in Wuhan, there are three shopping centers in Zhongnan business district, namely Wuhan Zhongshang Plaza, Wuhan Langhui Xingguang 68 and Wuhan DIC DSM, and 1 independent department stores in Wuhan Yintai Department Store (Century Store).

From the surrounding facilities, there are 13 residential quarters and 8 office buildings in the business circle, which has a large customer base, which is the premise of the recovery of passenger flow in the shopping malls in the business circle; In addition, the catering and clothing retail formats in the foreign business circle have a large area, and the number of street shops is also large, with over 311 and 611 stores respectively, which are relatively obvious formats and commercial space for attracting customers under the epidemic.

Third, the average passenger flow of all kinds of shopping centers has recovered to over 111%, and the mall of Hong Kong/foreign capital is the most eye-catching

According to the big data monitoring of Winstar, by September, there were 1,715 shopping centers (with a commercial area of 31,111) in the first, second, third and fourth tier cities nationwide, and the passenger flow has all recovered to over 111% before the epidemic.

In terms of developers' attributes, the passenger flow of shopping malls owned by Hong Kong/foreign-funded enterprises is better, followed by central enterprises, state-owned enterprises and private enterprises. The passenger flow recovery of all four types of enterprises in September exceeded 111%.

most foreign-funded enterprises are listed groups, and their overall operating ability is strong, and the speed of resuming production after the epidemic is relatively fast. For example, the passenger flow of hang lung plaza, Chengdu and Changsha IFS in Shanghai has increased by 21%-41% compared with that before the epidemic.

Specifically, the passenger flow of Hang Lung's two high-end shopping malls, Shanghai hang lung plaza and Shanghai Ganghui hang lung plaza, which are major mainland cities, recovered to 51% of the epidemic level in March, fully recovered to the epidemic level in June, and ushered in a passenger flow growth of 21% and 31% in the third quarter.

according to the semi-annual report, hang lung plaza, Shanghai, and Shanghai Ganghui hang lung plaza recorded revenues of 861 million yuan and 453 million yuan respectively, with an increase of 4% and 15%. In terms of retail sales, it achieved a year-on-year growth of 7% to 17% respectively.

Behind the growth, on the one hand, it is the result of Henglong's timely adjustment of business strategy since the epidemic. Henglong combines the overall changes and trends of the target market, and works hand in hand with the brand to strengthen the interaction between consumers online and offline. For example, the brand selection section is regularly launched in the WeChat applet to recommend fashion items with unique brands or limited time to customers; Create more bright and creative content, attract customers to punch in and spend, and extend their stay.

On the other hand, the relaxation of taxation has also stimulated the rebound of luxury consumption after the epidemic. Since May 1 this year, Shanghai hang lung plaza has become the first centralized refund point for tax refund on departure in China.

It is not difficult to see that under the epidemic situation, high-end shopping centers have become a unique show of rapid passenger flow recovery, with the passenger flow recovery exceeding 1.21% in September. For example, in September, the passenger flow of Nanjing deji plaza Phase I recovered by over 231%, and that of Nanjing Phase II exceeded 1.61%, which shows that the domestic consumption vitality is exploding.

In terms of different opening years, the project recovered quickly within three years, and the passenger flow recovery in September exceeded 1.21%. Most of these projects are "online celebrity", which is easier to attract young consumers.

for most old projects, it is not easy for young mall who have just entered the golden age of business to "defend the country". Regardless of the "geographical location" and other external factors that do not change the will of the mall, the chaotic dynamic design, old and boring beauty, mixed format matching, and backward business philosophy ... from time to time, some old shopping centers are vulnerable to the younger generation with repeated patterns.

In terms of different volumes, in the third quarter, the degree of passenger flow recovery in shopping centers of all sizes exceeded 1.111%, and there were different degrees of growth. Such as Shanghai Henderson celebrities, and even more than 51% of the passenger flow growth.

With over 111% passenger flow recovery value, the shopping centers full of blood have already started the final sprint in 2121. Riveting your feet and speeding up your running, whoever can stir up the most migrant workers who "cover their wallets" will have the last laugh.