Shanghai South Yu Garden Business District: Seven Years Changed Three Times

　　 Forty thousand square metres of shopping malls cleared

At noon yesterday, the scorching sun roasted a square near the middle of Fang Bang Road. The word "Yu Cheng fashion" is also written on the road sign not far away.

Separated from a street Yu Garden mall There is a lot of noise, there are few tourists here, only the construction workers occasionally get in and out. "Merchants moved on and on." A security guard said, "this has been adjusted three times."

Public information shows that in November 2005, Limited by Share Ltd mall Limited by Share Ltd sold the 100% stake of its subsidiary Shanghai Town God's Temple Plaza Real Estate Co., Ltd. to Cong, Financial Services Company and other consortium buyers, and later built the "Yu Long Fang" commercial project. But the market failed to perform well. In 2009, the proprietor found a successful investment in the business world.

Three years ago, under the operation of Ying Shi, ZARA, H&M, Marsha and so on a group of fast fashion brands opened up.

At present, not only the fast fashion brands have been withdrawn collectively, but many of the original brands have disappeared. It is reported that all tenants of the project have been cleared since the beginning of this month. The 40 thousand square metres of shopping malls, which were once bustling for a while, are now exposed to reinforced concrete.

Only the billboards set up in the fashion square of Yu Cheng and Ono Michihata's message, which revealed the changing of the chords, were quietly renamed the "Town God's Temple square of Shanghai" after the withdrawal of "new fashion". Reporters learned that the new project is in the stage of reconstruction and is expected to be unveiled by the end of this year and early next year.

　　 Fast fashion Location lost in Mai City

With its mature commercial operation, the concept of Ying Shi and its new fashion will lose its way to Mai Cheng. At the end of July, reporters visited Yu Cheng fashion. At this time, only three hotels in the mall are still open. "Our business is OK, but other stores can not do business, and the overall benefits of shopping malls will not come out." The clerk of the typhoon shelter said. At that time, it was at the peak of the afternoon market.

It is reported that the fashionable tenants of Yu Cheng mainly come from two places -- fast fashion stores and restaurants. Due to the dense flow of people in the business circle, the performance of some restaurants is not bad. However, due to the concept of "new fashion", the best shops in shopping malls have been sold to fast fashion brands, and the latter's ability to absorb gold is not as good as expected. Take Marsha as an example, its Yu Cheng fashion store has neither the rich imported food of Nanjing West Road stores nor the latest style of Huaihailu Road store synchronized with London. So large stores have sold tail products for a long time at a low price.

And the location of remote catering and leisure environment is also under every circumstance. Earlier this year, the newspaper took the lead in reporting the withdrawal of half of the traders in Yu Cheng fashion. At that time, a restaurant responsible for the first floor of the building revealed that the mall was never popular. The restaurant opened for a year and a half. The monthly turnover in the peak season was only 80 thousand yuan, not artificial or raw materials. The cost of the single rental property was more than 60 thousand every month, almost losing money every day.

In fact, at the beginning of the fashion business in Henan city, the doubt about the positioning of Ying Shi was always heard. "Fast fashion can be bought everywhere. Why do tourists buy Yu Garden?" said Chao Gang, a retail expert and a professor at Shanghai University of Finance and Economics, the key to the failure of Yu Cheng's fashion lies in the fact that Yu Garden's characteristics determine that it is a business district dominated by tourism rather than shopping, which is not suitable for the usual commercial real estate thinking.

　　 Experience consumption Antidote?

The gradual withdrawal of merchants, the search for redistributors, and the redevelopment of shopping malls - Yu Cheng fashion have taken nearly two years to bid farewell to the Yu Garden business circle. New positioning and planning emerge on the horizon.

Unlike the fashionable fashion of Yu Cheng in that year, the antique building was placed prominently in the advertisement on the Town God's Temple square in Shanghai. And its positioning plan implementation plan is written on the "old style and new experience" words. It is reported that Shanghai Town God's Temple Plaza is the Guangdong group. The latter set up a strategy for tourism and culture before the middle of last year. In order to attract tourists from the business circle, shopping malls will focus on tourist souvenirs and cultural projects in the future. Among them, catering is expected to account for 50% of the proportion.

In the process of the transformation, the new owners also threw out the concept of "experience consumption". For example, when tourists enter the mall, they may pass through the hawkers, and the old Shanghai rickshaw may also appear on the square. Not only that, the concept of performances, collectibles, night markets and so on is also in the planning of the project. "The culture of old Shanghai may be interspersed in the lines of the market." People familiar with the matter said.

Qi Xiaozhai, chief research fellow of Shanghai Business Development Research Center, believes that the trend of Yu Cheng fashion from fast fashion to cultural tourism is perhaps a direction for its breakout. However, the effect of culture on business is indirect, and trying cultural experience in a small shopping mall will face many challenges.