Shopping malls enter the "small" era

The development of commercial real estate flocked to the third and fourth line markets. Small shopping malls became the new darling of development. The reporter learned that real estate developers such as Aoyuan Group and Gemdale Commercial Group have their eyes on concentrated shopping malls. Realtors who have entered the rational development track have become tolerant of the choices of store formats, and have begun to try to introduce such industries as monthly sub-centers, community**, and factory stores that are highly related to community life.

The real estate developers who have entered the unconventional format from the first-tier cities have developed an "unconventional" business case during the survey. Wang Shouqing exemplifies that community business actually gives real estate developers a great opportunity, and community-based shopping malls consider meeting the needs of consumers within the residential radius.

In addition to placing some regular retail formats in the development of commercial real estate, GDI Group will consider more to incorporate some forms of business with high levels of association with the community, such as community ** with special community functions, and sports factory stores preferred by community residents. Wait. Miao Sihua said that Aoyuan Group's health theme square will consider introducing a monthly center, health hotel and so on.

In the development of alternative formats, the art space of the K11 shopping mall under the New World Group is a leader in development. In the Huaihai Road commercial district, which represents the highest rent level in Shanghai, only 38,000 mini-type K11 use 3,000 square meters to create art space. Art exhibitions will be held here on 365 days, but it is not for profit. It just wants to reflect the art of the mall. The core values ​​of humanities and nature.

However, in the New World abacus, this seemingly wasteful commercial area has become the most important attraction for shopping malls. Nowadays, more and more real estate developers are moving toward the K11 art route, using the Atrium area to throw millions of dollars into various art exhibitions. However, unconventional and huge spending does not mean success. Many shopping mall operators also admitted that it is not worthwhile to organize exhibitions in shopping malls. Chen Jianhao said that the market not only creates passenger traffic, but operators need to think more about converting operational sales to real sales.

The sinking and low-line market has developed from the core location of the first-tier cities and the sub-centers of the region to the edge of the city. Real estate developers have become more and more bold about the location of shopping centers. At the 12th annual meeting of the China International Forum on China Shopping Mall, the industry has new ideas for the development and operation of commercial real estate.

In the process of living and re-sellers, Miao Sihua, assistant president of Aoyuan Group and president of the business group, said that due to changes in market demand, the business section of the Aoyuan Group has become the “two legs” of the residential and real estate sector. At present, the commercial real estate segment has accounted for about 40% of the group's business, and the proportion is increasing. Miao Sihua revealed that the group will explore the site of the third and fourth tier cities and even enter the fifth-tier cities to better control land prices.

Surveys show that in second-tier cities and some third-tier cities, the speed of shopping mall construction has surpassed that of relatively mature commercial first-tier cities. It is estimated that by the end of 2015, the supply of shopping centers in some second-tier cities will double. The first and second-tier cities with high commercial load have caused most developers and retailers to take second place. This has also made third and fourth-tier cities a new blue ocean for shopping centers. Market gaps and potential for consumption contain vast market opportunities. Local governments also provide preferential measures or assist in investment promotion. The Wanda Group, which is not only the Aoyuan Group, will move toward the Baicheng Times. Most of the development projects will be concentrated in the third and fourth tier cities such as Sichuan Guangyuan, Anyang Henan, and Jiamusi Heilongjiang. Wal-Mart China, which is trying to test the water, Suning Plaza under Suning, etc., all cut their entry points to third and fourth-tier cities.

Different from the development path of malls aiming at theme shopping malls and first-tier cities, shopping malls that sink to low-tier markets need more meticulous attention in the development and operation of positioning and investment promotion. In the initial development of underdeveloped areas of business, most real estate developers will choose to build "one-stop" shopping centers in order to fill the gaps in regional business. Wang Shouqing, vice president of Golden Land Group, believes that in the future, the real estate executives will no longer be large and complete shopping centers, and will be aligned with thematic, small and distinctive shopping malls.

In the business expansion map of Aoyuan Group, Miao Sihua said that although the group's expansion ambition is growing, the team will grasp the positioning of the shopping center based on its own resources and capabilities. Property developers should "mainly focus on me" to determine whether the shopping center is a radiation area or a community. A senior industry source stated that although the construction of shopping centers in third- and fourth-tier cities will usher in an expansion period, developers and operators need to be able to do so due to weak consumer spending power and consumer attitudes that have not yet reached the requirements of large shopping malls.

In the future, with the entry of a large number of commercial projects, the pressure on the rental market will continue to increase, and the competition between commercial projects will become more intense. Chen Jianhao, general manager of operations of the New World Group's K11 Shopping Center, said that the development of commercial real estate has moved from investment to the era of operations. Similar to the delicacy of department stores, the future development of shopping centers will also show a stronger theme. Wang Shouqing believes that a large number of real estate developers and operators wrestle with who will be able to choose the target for consumers, and shopping centers will therefore also go from the general level to the condensed version. Consumer preferences are the first element in the selection of brands and formats by the investment team. Access to shopping malls will no longer be the conventional business of retail, entertainment, and catering.