Intime Department Store To Build A Business Myth: Grow Together With The City

Sales promotion of Yintai department store

Hangzhou's business has gone through the development from shopping malls to commercial streets and business circles. In recent years, in addition to large commercial department stores, new business models such as SHOPPING MALL, urban complex, regional department store and warehousing store are emerging one after another.

In the process of Hangzhou business from point to line, from line to face, intime plays an indispensable role.

In the view of Chinese department stores, the rapid rise of young China intime department store in recent years is a miracle.

12 years and Hangzhou

Rapid development

Yintai grew up with the city of Hangzhou, from the initial shopping mall to the 6 large department stores.

Wulin store has become the flagship store of Yintai department store. It not only attracts consumers from inside and outside the province, but also shoulders the important tasks of talent output, upgrading management level and strengthening commodity resource integration of Yintai department store.

Over the past 12 years, with the support of governments at all levels and all walks of life, intime has achieved good economic and social benefits. On this basis, a nationwide chain structure has been initially formed.

At present, intime department stores have 17 stores and shopping centers in Zhejiang, including Hangzhou Wulin store, West Lake store, Qingchun store, Linping Liqun store, Fuyang jade the Great Wall store, Ningbo East Gate store, Ningbo Tianyi Plaza store, Ningbo Jiangdong Century Oriental Plaza Shop, Wanda shop, Wenzhou World Trade Center, Jinhua Fuhua store, futilong shop, Shinyi new store and so on. In the future, shopping centers will be opened in Hubin business district, west of the city and north of the city.

In terms of sales figures, Yintai has been ranking first in Zhejiang's department stores for many years in Zhejiang.

Yintai's blueprint is not just that. They hope to achieve the brand of Yintai department through fast chain development and become a respected business in the department stores.

For this reason, the top management of the group made a rigorous plan for Yintai's future with numerous meetings.

In August 2004, Yintai sixth store, Hangzhou Yintai shopping center, formally reached an agreement with its partners. This is the first real SHOPPINGMALL in Hangzhou, and is also the first new store in Yintai.

The sales and profits of single store in Yintai store of Yintai department are among the top of the national single store. Many brands in the store have the highest sales record in the same brand.

In 2009, sales were 2 billion 400 million, profits and taxes exceeded 300 million, and Tianyi and Dongmen stores in Ningbo also rely on brand advantage to occupy the leading position of department stores in Ningbo.

On the day of November 14, 2009, Wulin store, with its performance of more than 100 million 2 thousand yuan, created a new sales day for single department stores nationwide.

After several years of development, Yintai department store has created a good performance. With the aim of realizing chain operation, specialization and intensification, the group has realized the management innovation and format innovation combined with the advantages of Yintai department store, and implemented the brand strategy.

The next 3 to 5 years will be an important period for China's commercial development. In order to cope with the fierce competition in the domestic retail industry and the new situation of foreign retailers entering the Chinese market, intime department store will adhere to the development strategy of "regional leading edge", further establish Yintai department's leading position in the industry, and make intime department store develop into a first-class chain store group in China.

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From meeting consumer demand

To show the way of life

"We dare not say that we have changed the way of life of consumers, and have been leading the fashion attitude of Hangzhou. But in recent years, we have been thinking about the relationship between competition and promotion, looking for their own characteristics, showing a new way of life for Hangzhou consumers."

Ma Qihua, vice president of Yintai department store (Group), general manager of North Zhejiang and general manager of Wulin general store, said in an interview with reporters that Yintai's business philosophy is "to convey new life aesthetics".

From the 10th anniversary shop celebration, Yintai Wulin shop invited the cutting-edge designer of the Saint Martin Art Institute of England to hold a fashion show. Last year, the oil painting exhibition, which was full of striking new artists, and this year's exchange of attention between people and tender letter show, we saw more spiritual exchanges in the shop of Yintai, Wulin.

Getting rid of the bondage of sales and abandoning the cheapest way of promotion, instead of making a big fuss and overhaul on the spiritual level, it is no wonder that the celebration of Yintai Wulin store has become the biggest expectation of consumers in Hangzhou and autumn.

This is neither accidental nor commercial success. It is the inevitable trend of business development and the only way to build a quality city.

In the words of Ma Qi Hua, the head of Yintai Wulin general store, the department store industry is the most direct contact with the ordinary people, and it is the industry that has the most opportunity to communicate face-to-face with consumers. Therefore, we should think more about what is still lacking in the city, what is needed between people, and we should pay more attention to the spirit and emotion.

For Yintai's cultural activities besides promotion, consumers are also enjoying it and moving them.

In this year's letter exhibition at Yintai Wulin store to welcome the celebration, Wulin Yintai collected more letters from celebrities and contemporary people, and the "love letter" message wall was filled by many moving customers in only two hours.

A pair of elderly people from Jinhua who wore over 401 years of love letters brought them to the scene of the celebration, and became the first act of touching the activity.

In the process of common development between business and city, price promotion and volume expansion are definitely not the only way for shopping malls to develop.

Perhaps, the grand price war promotion is certainly a win win pattern: shopping helps consumers to get substantial benefits in sales promotion, and also allows brands to get cash flow while sales increase, while shopping malls are also making full profits while completing sales volume throughout the year.

However, year-round price war promotion is bound to cause fatigue and preferential paralysis to consumers.

In addition, the industry also believes that whether a department store can become a shopping center is not necessarily related to the volume of the building, and ultimately depends on the richness of the business format and the maturity of the shopping culture.

The Champs Elysees of France, Paris, Japan's Tokyo Valley, Singapore's orchard road...

These famous commercial landmarks all over the world are not famous for their scale and promotions, but their business culture has become the spiritual leader of consumers in the world.

The expansion of excellent enterprises is not just the expansion of capital, but rather the expansion of culture. This is the brand strategy.

At present, Yintai brand has a wide range of market awareness and recognition. Continuous and effective implementation of modern enterprise system, modern management technology, modern marketing methods, modern human resources management means, and improving the overall quality are the long-term tasks faced by enterprises.

Exploring health

Life style

"IN" is what Yintai does every year to pursue.

From the very beginning, the impression of intime department store has always been a young and fashionable shopping mall, not only because it sells fashionable commodities, but also because of its young business team and the business philosophy of keeping pace with the times.

Nowadays, the consumer group of Yintai is the 70 generation and the post-80s generation. These people are always eager to provide fashionable brands for Yintai.

Some of them have grown from small employees who have entered the society into successful business leaders, or have never been familiar with the world's little girls. They have become elegant and fashionable mothers, but they are always passionately devoted to Yintai.

"I used to be a little girl who loves to dress up. Now I am a fashionable mother in other people's mouth. I started shopping at Yintai from college, and my friends around me always regarded me as a weathervane."

Mrs. Zhou is the mother of two children. In the interview, she told reporters that Yintai is the weapon to maintain her youth and fashion. Now the big children have learnt to walk, and they are enjoying the silver and Thai together with their babies.

Whether it was two years ago, Yintai Wulin store moved the most profitable footwear products to the ground floor and moved the attractive jewelry to the two floor, so as to introduce the second-largest brand of the international brand on the most striking floor, or the continuous entry of the skin care products such as Keyan and Yuet wood.

This series of changes has also given consumers the right attitude towards fashion and the low standard of living for environmental protection.

In addition to the fashion trend, the cost-effective way of consumption is also listed by Ma Qihua, the head of Yintai Wulin general store, as an important part of healthy life.

Last year, from the central government to the local government, the whole nation launched a massive measure to boost domestic demand at the commercial level.

Yintai also responded positively to the action of issuing consumer coupons, and Wulin shop issued about 20 million yuan worth of free coupons.

It is understood that Yintai is one of the most powerful shopping centers in Hangzhou, and has produced tremendous social influence.

In contrast, Yintai, as a landmark of youth and fashion, does not advocate excessive extravagant consumption.

Ma Qihua said: "luxury consumption is not and will not become the mainstream consumption of the society. Excessive extravagance consumption is also excessive consumption of social resources to some extent.

Intime department stores advocate a cost-effective way of consumption.