Guotai Department Store, Guotai Department Store Is Pformed Into Star Brilliance.

Transformation of Cathay General merchandise department

Star Yue Department Store officially opened in Beijing ONE recently.

Cathay General store was renamed the star Yue Department Store shortly after the project was opened.

It has been reported that Beijing ONE had settled with the Xinguang Tiandi business side last year, taking high-end positioning to fit Beijing ONE positioning.

Beijing ONE Sales Office has also played the slogan of celebrating the new light world, but it was not mentioned until the star Yue Department store was settled.

It has been speculated by the industry that Cathay Pacific Department's renaming may be aimed at improving the company's positioning and pforming to high-end boutiques.

Beijing Business Daily reporter visited star Yue Department store, found that less than 35 thousand square meters of commercial projects, all occupied by retail formats.

In addition to ochirly, dizzit, Esprit and other brands that meet the needs of young consumer groups, the first and four floors are mainly brand specific stores.

Sales volume, format and so on lack of bright spot.

The decline of new town giants

Guotai department store, established in 1993, has been developing the regional department store and community department store strategy since it entered the chain store department in 2004. Up to now, there are more than ten shops in Beijing, mainly distributed in Beijing new town.

In 2006, Cathay Pacific Department Store entered the list of top 100 Chinese chain enterprises for the first time, and its performance continued to grow rapidly.

Cathay Pacific department store's first store in Shunyi is different from the large department stores in the city, mainly pushing the brand discount stores, and even attracting many urban consumers to come shopping. It once created brilliance on the chain store road. Before and after 2009, Cathay Pacific Development was strongest and sales volume was up to 3 billion 100 million yuan.

But at present, department stores are on the decline.

Industry leader Wangfujing department store, foreign capital first store Baisheng and so on began to shopping center.

Transformation.

At the same time, commercial real estate speeds up the layout of new towns, so that the advantages of Guotai department store no longer exist.

Traditional department store crisis

Guotai department store, which is rooted in the new city market, has again launched its efforts in Tongzhou through Xing Yue Department store.

This is the second store of Cathay department store in Tongzhou District.

Similar to the first store, Xing Yue Department stores are still dominated by traditional retail formats, and there are almost no restaurants and other experience formats.

At present, under the new market environment, the pformation of traditional department stores is imminent. Many traditional department stores create the shopping experience of shopping centers by means of expansion and pformation, introducing fashion brand flagship stores and increasing shopping mall experiential elements.

Under the catalysis of large shopping centers, the traditional department stores stationed in Tongzhou have begun to change. Not long ago, the responsible official of the noble building said that the "Hi" building is moving closer to "younger", choosing market segments and pforming the theme department stores.

However, star Yue Department insists.

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According to the insiders, the consumption ability and regional atmosphere of new towns can not be completely suitable for the survival of high-end businesses, and there is not enough market power to support the new frontier areas, so there may be room for development of traditional department stores.

In addition to its own location, there are many shopping centers competing around the Department of star Yue, including the Wanda Plaza opened at the end of the year and the Beijing Hangzhou square under Greentown. The project is determined to be a city complex, including high-end shopping centers, boutique houses, the first five star Hilton Hotel and 5A office buildings in Tongzhou.

Not long ago, Jing Tong Roosevelt square was also officially opened, not only with H&M, C&A and other fast fashion brands, but also with Burger King, Pizza Hut and South beauty.

Occupying the entire three level of children's business has attracted many family customers.

At present, Jing Tong Roosevelt square has taken advantage of the two formats of children and catering to seize the opportunity in the new town.

Lai Yang, Secretary General of Beijing Institute of business economics, believes that the pformation of consumption structure is the inevitable result. Comprehensive one-stop shopping experience is an inevitable trend for the development of retail industry in the future. Traditional department stores have begun to be hit, and star Yue Department stores need to make timely changes in the development mode, otherwise it will be difficult to break through in the siege of shopping malls.