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Can Shenzhen Survive Two High-End Shopping Centers?

2014/8/4 16:09:00 37

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it is understood that in the next two years, 10 large shopping centers will be put into operation in Shenzhen. There are still a handful of high-end shopping centers. Can these new competitors break the curse of high-end consumption in Shenzhen? 
 the high-end MALL .
The Imperial Palace Square, which opened for two months, has become a high end shopping mall COSCIA introduced by the company. It has become a promising tool for losses. The company has declared that it is expected that the first year (2014) of the highest vacancy rate will achieve a gross income of 340 million yuan and a net profit of 260 million yuan. P According to a quarterly report of Shenzhen commercial bank, its revenue increased by only 11 million 413 thousand yuan this year due to the rental and management fees of the Imperial Court Square shop. To achieve the goal of 340 million yuan, it will depend on the large profits contributed by COSCIA. 
 July 8th, the reporter visited the Imperial Court Square and found that the COSCIA store, which was opened for two months, was ablaze with lights. 12 international luxury brand shops were all open, but the store was slightly deserted. Other shops were not opened except COSCIA. The vacancy rate of the whole shopping mall is higher than 60%. 
Less than P, COSCIA is one of the largest department stores in the luxury industry in southern Italy. COSCIA is only stationed in the core business district and high-end shopping center of the city center, which requires the relevant high-end formats of the shopping mall to match. The imperial court in Shenzhen is the first store in China established by COSCIA. 
"P >" and "Shenzhen merchants" in order to introduce COSCIA, provides very favorable conditions: the terms of the operating lease contract disclosed in the annual report 2013 shows that its subsidiary investment will provide a total of 98 million 710 thousand yuan for the COSCIA brand access fee and the decoration subsidy amount, which has been paid 9 million 870 thousand yuan as of December 31, 2013. During the lease term, the minimum annual sales volume of the COSCIA is no less than 150 million yuan. If COSCIA sales are less than 150 million yuan, we will invest in the COSCIA products purchased by the finance and investment company until the guaranteed sales are reached. 
 but according to the 2014 semi annual report issued by Shen Guo Shang, the net profit attributable to shareholders of Listed Companies in the first half of the year is expected to be 80 million yuan to 95 million yuan, compared with the loss of 39 million 540 thousand yuan in the same period last year. The basic earnings per share is expected to be about 0.36 to 0.43 yuan, which is 0.18 yuan more than last year, and the amount of loss per share continued to widen. The company explained that the shopping centre has just opened and is still in its incubation period, but there are many doubts about whether COSCIA can help the imperial court to take off, or to follow the same mistakes of Ciwu and CITIC. 
 2002, Shenzhen's first shopping mall, CITIC City Square opened, introducing the first luxury department store in Shenzhen, Xi Wu. It is said that the West Wu high-end department store, which occupies the three floor of CITIC City Plaza, was the first window for Shenzhen people to contact international luxury goods. 
However, just two years later, CITIC City Square encountered strong rivals. P In 2004, the opening ceremony of the Mixc, Shenzhen, became the most densely populated area of luxury goods in China. Since then, the status of Shenzhen's landmark shopping center has never been shaken. In July 2009, LV opened its biggest flagship store in the Asia Pacific region to the Mixc, and withdrew from the West Wu department store of CITIC City Plaza. Since then, luxury brands began to independently open flagship stores, and since then, it has been difficult for them to get new products. 
In October 2012, P officially withdrew from CITIC City Square. With the withdrawal of main stores, many shops were evacuated, and the shopping center entered a long period of adjustment. The relevant person in charge of Ping An commercial real estate company has said that the shopping center will not be officially opened until March of this year. However, in July 8th, the reporter found that the shopping center had only 3 outlets in the 1 to 3 floors, except for a negative layer of luxury brands, but the rest of the shops were surrounded by fences. In the past, CITIC City Square was no longer supported by West Wu. 
 in fact, another listed company, Tianhong mall, failed to build a large luxury shopping center in the central area of Shenzhen. 
In P, 2011, Tianhong mall spent a lot of money to transform its "a href=" http:// "/a", which is called "Jun Shang department store", located in Futian Central District of Shenzhen. It is also the first high-end brand store upgraded by the company. At the beginning of its opening, it introduced many famous brands and luxury clothing brands, and continued promotional activities. But in the next two years, the list and high-end clothing brands that were mainly introduced on the first floor of the shopping mall all left the market. Instead of them, they were low-end shoes and light luxury clothing brands. The net profit of the more than 30 thousand square meter business area in 2013 was only about 28000000. 
 one sign multi row flow 20 billion .
 > "we a href=" http:// "www.91se91.com/news/index_c.asp" > brand < /a > every month has sales ranking. Since 2009, the sales revenue of Shenzhen stores has been running behind Kunming, Chengdu and other western capital cities, and the gap is getting bigger and bigger. An international luxury store Shenzhen shopkeeper told reporters. In the eyes of the outside world, Shenzhen has no problem of aging and its disposable income is among the best in the long run. Why is it that the high-end department stores are still inferior to some provincial capitals in the west? 
 consumption spillover is a very important factor. Since April 1, 2009, holders of household registration in Shenzhen can enjoy "one sign and many lines". According to the data of the Hong Kong government website, in the year from June 2013 to May 2014, the number of "one sign multi line" visitors reached 13 million 220 thousand, and the consumption amount was about 45 billion 540 million yuan, ranging from daily necessities, food to jewelry, luxury brands and shopping categories. To Hongkong "sweep goods" has long been a major item in Shenzhen residents' journey. According to the survey of Shenzhen retail business association, from 4 consecutive years, the proportion of Shenzhen people shopping in Hong Kong has almost doubled since 2012, except for 2012. Some media reported that the consumption volume of Shenzhen and Hongkong and Macao diverted to over 20 billion yuan per year. 
 no local consumers can be left. Shenzhen businessmen are in an awkward position. Similarly, the heavy flow of people at various ports in Shenzhen brings the consumption of local department stores to a satisfactory level. 
 reporter found in the interview that although Shenzhen vigorously developed the exhibition industry this year, the most important "high tech fair" period, many participants also chose to pass the permit to leave for shopping. In Shenzhen, they preferred the middle and low shopping circles such as Dongmen and Huaqiang North. "Even if the Hongkong luxury goods are priced the same, passengers can earn a bad exchange rate. A twenty percent off will definitely be the first choice for Hongkong." Tourists told reporters that although many people go shopping through Shenzhen to Hongkong, the biggest consumption items in Shenzhen are accommodation and catering, and the proportion of shopping is very small. 
The consumption pattern of "P" can explain why the imperial court is chosen to be opposite to the Shenzhen Convention and Exhibition Center. However, the flow of COSCIA is still remote. Because of price factors, consumers prefer to go far and take a little road to overseas consumption. 
The "2013 China tax exemption report" jointly published by the P wealth Research Institute and the luxury research center of University of International Business and Economics pointed out that the mass consumers were sensitive to the price of luxury goods, the preferred duty free shop (33%), followed by the purchase of foreign stores (22%) while traveling abroad, and third of the domestic shopping malls (21%); when the assets of consumers were between 1000-5000 RMB, priority was given to overseas stores (32%), duty-free shops (30%), and domestic shopping malls (17%); and for the super rich whose assets exceeded 50 million yuan, especially those with assets of over 100 million, the proportion of overseas stores shopping was as high as 39%. From the data disclosed in the report, we can see that no matter which group of luxury goods consumption, domestic shopping malls are not their first choice, and the spillover of domestic high-end consumption is obvious. The obvious price difference between domestic luxury brands and overseas has gradually pushed the consumption of luxury goods to overseas. Shenzhen, which is located near Hong Kong and Macao, provides the shoppers with favorable conditions. The survival of local luxury shopping centers is obviously affected. 
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Since P opened in 2004, Huarun the Mixc has secured the leading position in Shenzhen's luxury consumption. Li Renbin, general manager of the world commercial real estate consultant organization, believes that its traditional high consumption business circle, the preemption of luxury flagship stores and good property planning are all important reasons for its success. In addition, it is related to the business consumption that has been partly withdrawn from Hongkong to buy luxury goods (providing invoice reimbursement, leaving part of the business visit to Shenzhen and Hong Kong staying in Shenzhen). In fact, over the past few years, the luxury goods store in Shenzhen has been able to make invoices and sell some business expenses and inconvenient outbound people. But with the increase of anti-corruption efforts, name sheets, brand bags and luxury clothing have been unsalable in varying degrees, and this part of the consumption has shrunk. Recently, reporters in the Mixc, Shenzhen found that the original location of the French luxury brand Cartire, the business area has also been reduced from two to one level. In the Yitian Holiday Plaza in Shenzhen overseas Chinese town business circle, Cartire's signboard was quietly removed. 
Below P, Shenzhen's local department store listed companies, Tianhong shopping mall, Maui international and year old department store, under such circumstances, only rely on expanding outside Shenzhen to survive. 
 take Shenzhen retail industry as an example. The 2013 annual report shows that there are only 9 stores in Southern China, and 12 stores in the southwest and East China. Although Shenzhen Huaqiang North store is still the largest store, its growth last year is less than 5%. The Northern Expedition and the West extension are inevitable choices. 
 and the store's emphasis on Tianhong Department Store in Southern China is also reported in the annual report that it is possible to sink the channel and develop westward. Luxury goods have become their common choice. 
 but there are still some people struggling to rush into the besieged city. The Gao Li International Research Report shows that in 2014, nearly ten large shopping centers will be put into the market in Shenzhen. It is expected that the market will be concentrated in the second half of the year, with a total supply of about 1 million 500 thousand square meters, which is equivalent to 60% of the total stock of the entire Shenzhen market. In the urban renewal and renovation of Shenzhen municipal government, many of them operate in the mode of "urban complex". In this mode, there is often a relatively high-end shopping center, but such shopping centers can receive regional consumers' acceptance. There are still a lot of unknown factors.