Shopping Center: The Future Will Pay More Attention To The Provision Of Refined And Personalized Products.

There are farms that can enjoy fresh dishes cooked from farms, and even pedals in shopping malls.

These are all new shopping experiences that CapitaLand Mal lAsia's shopping center may bring to consumers in the future.

Liao Rongtong, chief executive of Cade business, said in an interview recently.

The booming development has changed the business mode of the retail industry. Shopping centres can not be restricted to selling goods, and must be gradually converted to provide customers with a full range of experiential services.

He said: "e-commerce is mainly to attract you to buy things, but shopping is not just shopping, it is also a life experience, a leisure activity looking for unique food and things, a pleasure to go out with friends and family members, a feeling of participation."

Liao Rongtong, 50, is the chief executive of CapitaLandChina (China) and is responsible for leading the Chinese team to develop the housing and complex business.

In 2014, the Cade group streamlined its business structure and removed the Cade business from the market. Liao Rongtong turned to Cade's chief executive.

This is the first time he has been in the media for more than a year in his new post.

From managing residential businesses to managing shopping centers, Liao Rongtong admits there are huge differences between the two.

He said: "residential projects generally have a clear sales target, although the pressure is great, but

Mainly concentrated in several cycles.

The shopping center is open 365 days a year. You must constantly manage and manage, communicate with retail tenants and consumers, and ensure that the shopping mall can keep up with the latest consumption trends.

More emphasis will be placed on the provision of sophisticated and personalized goods in the future.

The pformation of retail industry in recent years is the popularization of e-commerce and online stores.

Liao Rongtong pointed out that before the rise of online stores, department stores always want bigger stores as good as warehouse.

Some stores sell on sale by importing cheap T- shirts or jeans.

But after the rise of online stores, retailers have to subvert traditional established patterns.

"Now department stores and supermarkets do not need such a large space, they pay more attention to the efficiency of space use.

The size of future department stores or supermarkets will gradually shrink, and more emphasis will be placed on providing refined and personalized products.

The days when retailers rely on dumping cheap goods or services are over, because online stores are often cheaper and more selective than you are.

The retail market is also changing.

In order to enhance the shopping experience of consumers, Liao Rongtong said, the company team often conceived many marketing activities, from fashion show, Music Carnival, interactive Kanban to social media activities, so as to enhance the vitality and vitality of the mall.

In terms of tenant portfolio, Liao Rongtong also added more essential products and entertainment and leisure stores to consumers' needs.

As the frequency of modern people dining out, the ratio of dining places in shopping centers has increased from 19% five years ago to 22% today.

Although online shopping is unstoppable, Kade's business is still growing steadily.

The net income of local shopping centres in the first quarter of this year was 233 million yuan, an increase of 1.5% over the same period last year.

The total sales volume and traffic volume of the tenants increased by 3.3% and 3.1% respectively, while the rental rate was 97.6%.

Liao Rongtong believes that although e-commerce has brought impact to many physical stores, e-commerce can not dominate everything, and the extent of the impact is magnified.

Take China as an example, he pointed out that although online shopping is prevalent, only 10% of retail sales are online, while the remaining 90% retail sales still take place in physical stores.

"Therefore, we should look at the development of retail industry optimistically and find ways to occupy a larger share of the 90% markets."

Moreover, Liao Rongtong does not think that e-commerce must be opposed to the physical store of the shopping center. Instead, it may become "the enemy of our friends" and become the best partner.

In recent years, Zalora, a clothing store, has been working with Cade commercial to hire IONOrchard and Baisha Entertainment Plaza (Bugis+) to set up shop for consumers to receive and try on clothes.

On the other hand, some physical stores are moving online to create omni-channel channels.

Liao Rongtong pointed out that the integration of online stores and physical stores and strengthening the integration of online and offline businesses is the future trend of the retail industry.

Only in this way, can the real stores or online stores be complementation less and truly enhance their competitiveness.

As consumers expect to experience shopping processes anytime and anywhere, Cade business has also invested in big data analysis in recent years to integrate mobile phone applications and physical store shopping operations.

Liao Rongtong said that modern technology has improved to the fact that consumers have not yet entered the shopping mall. Retailers already know consumer spending habits and can push the discount coupons to their mobile phones.

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Introducing new brands into evaluation indicators

Consumption is a kind of choice behavior. Whether the location of shopping center is distinct and whether the retail brand in the shopping mall is unique has great influence on the success or failure of the business market.

To help tenants build up their brand image and characteristics, Liao Rongtong said that the company can regularly hire tenants to study and teach window design, customer service and visual merchandising through the "business +" plan.

In addition, the company strives to introduce more new brands every year, which has even become one of Liao Rongtong's key performance indicators (KPI) for measuring team performance.

The brand introduced by Cade last year has TokyuHands, a daily necessities store, and a luxury down garment brand Moncler.

A few years ago, it also successfully introduced the Hongkong dim sum shop to add good luck and the well-known Chinese chain hotpot restaurant.

Although some stores may later pfer to other developers' shopping centers to benefit the competitors, Liao Rongtong believes that this will play an active role in the local retail industry and improve the homogenization of the "1000 stores side" of the local shopping centers.

"Even if these brands reach the competitors' shopping centers, this will help you expand the retail market," he said.

After renovation of Funan Digital Life Plaza

3D virtual reality trial will be introduced.

Cade currently owns 102 shopping centers in Singapore, China, Malaysia, Japan and India, with a total value of about 41 billion 100 million yuan.

In the future, Cade plans to add 13 new shopping centers, including FunanDigitaLifeMall, which will be redeveloped next month.

Liao Rongtong said that the redevelopment of Funan Digital Life Plaza will bring 3D virtual reality fitting clothes and other services, and will set a new indicator for the retail experience.

He is confident that although e-commerce is threatening, shopping is still an important life experience for people.

He laughed and said, "as a man, when I used to do shopping in the mall, I often locked the target quickly and bought it.

Now, shopping mall has become a part of my work. I will pay more attention to the trend of the trend, and my wife prefers to go shopping with me.