The "new business" civilization is a commercial civilization in the information age, and it is a new commercial civilization that rises with the development and influence of information technology. The business model under the new commercial civilization is based on flexible manufacturing, personalized marketing and social logistics, and is "mass personalized customization" for consumers.
20 16 American black Friday "black Friday" (the day after thanksgiving), JC Penny.
Through multi-channel promotion, including webpage display, TV advertisement, online video, email, publicity, social media and App.
Wait for the road! Under the new business trend, the integration of online and offline, the transmission of information and experience, the interaction between merchants and customers, and new business rules have all become the research directions of future business breakthroughs.
As early as around 20 10, elites in the same industry began to carry out the Noah's Ark plan to deal with "new business", and we also started the research on "Business 4.0" five years ago. With the advent of the Internet of Everything, new experience technology and artificial intelligence will subvert the current business operation mode in the next five years. Business 4.0 is a new model in the era of Internet of Things convergence. Our research is not limited to the scope of the five senses (sight, hearing, smell, taste and touch). Besides meeting the needs of function and structure, we also need to enrich the satisfaction of emotions (right brain+quotient). We have studied many topics, not only the business model innovation in the new environment, but also the future business application technology. Here, I will briefly share several links involved in "new business" in combination with the current situation.
The way of attracting gold from commercial real estate
The earliest commercial shopping centers in China were hang lung plaza and hang lung plaza. I left my American enterprise on 1993 and returned to China to take charge of the development of these two projects. In the past three consecutive years, Hang Lung and HKEx have achieved the highest rental income and the highest rental unit price of domestic shopping centers respectively. The annual average efficiency of hang lung plaza exceeds 120 yuan/day.
As an overseas listed company project, from the perspective of international investors, it is also the benchmark of China's commercial real estate industry.
Hang Lung Group's commercial real estate in Hong Kong is mainly concentrated in Causeway Bay, Hong Kong, which is a place with a lot of land, but when we planned the Harbour Plaza, we designed a large atrium, accounting for about 45% of the public area. When we were planning in the early 1990s, we had foreseen the diversified marketing application and operation promotion activities of atrium in the future. Today, in the face of the impact of e-commerce in the era of big links, physical stores need an atrium with sufficient size to do different promotional activities, which is the gene of some successful commercial real estate.
At that time, there were also different voices questioning that the public area of Ganghui Square was too large and there was no income. "Why did you invest so much money in the atrium?" However, the operating data for many years after opening proves that the rent charged for each activity far exceeds the rent of the store. Everything needs a breakthrough in thinking, especially in the era of big links.
However, in the initial stage of China Shopping Center in 1990s, we innovatively built the first multi-hall cinema in China in the planning and design of Ganghui Plaza, combined with the mature international experience of shopping centers. At the same time, because the shopping center is very large and needs fire prevention zoning, the fire department has made a fire passage of 13 meters across the whole line. What we were thinking at that time was how to make the abandoned fire escape alive. If you have been to Ganghui Square, what you noticed, or felt good, was the innovative leisure food pedestrian street at that time.
Preposition is very important in any era. From the perspective of asset management, why do you still want to be a luxury shopping center after the Asian financial turmoil? The positioning of shopping centers must focus on the future trend, not just the current consumer market. According to the consumption level in the late 1990s, China was not enough to support the consumption market of top luxury brands at that time. However, considering the double-digit economic growth and per capita income increase in China in the past 30 years, we have made some bold restructuring and adjustment to become the top luxury shopping center in China. If we look at the annual report of Hang Lung Company, the rental income in 20 15 years is HK$ 41940,000, which is a very healthy and stable cash flow, which is also a very attractive part of commercial real estate. This is a continuous income.
The essence of commercial real estate is asset management.
Net operating income of "NOI", and upper limit
Rate capitalization rate is the two most important indicators of asset management, that is, how to use some reasonable management, how to better operate and attract investment, how to increase income and reduce expenditure. Only in this case will your NOI increase, your capitalization rate decrease and your assets increase.
When Xinhe Group is doing asset management, several projects are defensive measures, mainly the transformation and value-added of shopping malls. At any time, we need to know the whole local market. One or two years before the completion of the competitor's new shopping mall, Xinhe has started defensive rectification and upgrading. In the process of asset appreciation, some commercial categories with very low utilization rate are rectified to increase the commercial retail rental area. At the same time, it also promoted different formats. Especially in the era of big links, the renewal and promotion of shopping malls need to make some defensive adjustments at different stages.
Commercial real estate investment has a process of withdrawal. In 2007, I was in charge of the first privately listed real estate trust in Hong Kong, Hongfu Real Estate Trust REIT, and acquired 7 properties of Changjiang Group as a whole. There is a way out for commercial real estate, but the way out is unified operation, unified management and overall package sale. Real estate trust is to securitize some developers' properties at the mature stage.
At present, there is no real REIT open to the general public market in China, and there is no real estate trust that ordinary investors can invest in. Judging from the trend, I think this is also the next step that China must take, which can release a lot of assets instead of asset management.
Of course, in asset management, one of the key points is how to save energy, including adjusting the format and image, which are all things that asset management must do. Whether it is Xinhe Group, Hang Lung Group or Hongfu Real Estate Trust, they basically have good asset management and operation management, so that NOI can be continuously improved every year, or the income can be improved.
Let's talk about the case of financing in the era of big links, because commercial real estate can't borrow high-interest financing, because loans usually expire in two or three years, and the project can't be completed at all. Because the interest cost borrowed by the developer is high, if it is mortgaged by equity, the borrowing company will eventually take over the equity of the project company. When investing and lending in commercial real estate, you need to know the leverage ratio and interest of the project. Is it reasonable?
The correct exit plan, everyone is saying that Li Ka-shing has run away again. In fact, as a businessman doing business, when your real estate reaches a peak or matures, it is considered that the value of the real estate has arrived, and the overall withdrawal is a reasonable plan. Recently, Century Plaza in Lujiazui took over ARA (a company specializing in fund and real estate trust management). Because ARA Changjiang Group also has equity, the original team will continue to be responsible for the management of this project.
E-commerce instrumentalization
At present, e-commerce makes up for the shortage of some formats or products in the 345th line, so e-commerce will be more popular in China. However, in America, the proportion of e-commerce is quite low. No matter how developed e-commerce is, by 2025, there will be 7,000 shopping centers under construction in China. At present, many things that e-commerce buys are mainly clothes, sports or shoes. In fact, when it comes to the Internet, I always think that the web is a tool. What do you mean by tools? How do you use the Internet to connect with your customers? Before you came to your shopping center, you had a basic understanding of your venue and products. So when I went to the physical store, I decided to buy it after I touched, looked and tried it myself. The use of the Internet is still very important and is becoming more and more popular.
In China, mobile terminals have accounted for a high proportion of online transactions, and now mobile phone users in China have accounted for 88.9%. At present, mobile payment "Alipay" almost occupies the absolute number of the whole market. I believe that everyone will have Alipay and WeChat. Whether you pay the phone bill or pay other fees now, it is already very popular. I once forgot my wallet and sat there after dinner. Later, the head waiter of grandma's restaurant saw me, and I said, what should I do? He said do you have WeChat? I said WeChat does, so you can go to the public comment and buy restaurant coupons. I immediately bought a restaurant coupon on WeChat, and he said he couldn't change it. I said it doesn't matter. The head waiter brought me five or six bottles of coke.
China travels everywhere as soon as the Golden Week arrives. It can be seen that Alipay spent the most money in Korea during the Golden Week. Maybe South Korea or girls buy more cosmetics, followed by Thailand and Hong Kong. The transaction volume paid by American Mobile, Apple Apple
Salary is becoming more and more popular, and the increase is very fast. American e-commerce, whether Amazon Amazon or EBay, accounts for about 13% of the total retail sales.
Whether in Yi Bei or Wal-Mart, there are more and more e-commerce customers. Only major retailers in the United States are on Cyber Monday.
"Chopper Monday" (Monday after Black Five), merchants from Best Buy, Kors, Target, Old Navy and Toys R Us,
Advertisements on Web pages and social networking sites in Wal-Mart and elsewhere are attracting customers who shop before Christmas.
Generally speaking, the scale of e-commerce will increase, but its proportion in the whole retail is still very small. Physical commerce and physical retail cannot disappear because of the impact of e-commerce. Five years later, the Double Eleven increased by 1000 times in 20 14 years, reached 91200 million in 20 15 years, and reached 1207 billion in 20 16 years. Of course, this year's Double 1 1 has added many entertainment elements, such as parties and interactions. In fact, whether it is e-commerce, double 1 1, or what you do in Taobao, you have to interact with people in the end. On the other hand, if you do the same thing in all physical stores on the same day and concentrate on discounts, this sales will be very huge.
Big data changes life.
Everyone is very concerned about this year's American election. This election surprised all experts, including the mainstream media. There are many hidden conditions. Many customers don't accept interviews from mainstream media. Why is there such a big error? 70% or more than 80% of the previous predictions were that Hillary won, and finally Trump won. You can see Trump has many fans on Facebook and Twitter.
Another thing I want to point out is that Trump spent $5 million analyzing the big data of American voters. We have heard a lot of big data, but when analyzing customers in commercial real estate, it is the same concept. Because of accurate analysis, Trump's advertising, in what state, township, county and other small places, who will be more targeted. This kind of big data analysis has a certain impact on Trump's voting voters. Help, the final township map clearly proves this move. Of course, social media itself will convey much more information than major media categories, which is also the reason that affects this vote. So what I want to say is that in today's era when big data has fully played its role, many times we are still doing questionnaires, or analyzing them with thousands of people's questionnaires to determine the investment and positioning of hundreds of millions of projects, and there will be some misunderstandings. Perhaps most people like to drink coffee and eat western food, but when you attract business, you will find that there are few western restaurants.
At present, there are also some big data analysis companies in China that combine the data of telecom companies. They can clearly analyze the population of one kilometer, the population of three kilometers and the family situation of a shopping mall according to when you use your mobile phone. Can find more accurate positioning through these data. With these data, your format will know how to modify and adjust. With this information, we can know whether it is necessary to increase the format of children, whether the activity is a family activity and so on. In this regard, I believe that this time I will use the example of using big data in the US presidential election to enhance your understanding of big data and help you when we do research in the future.
Online and offline integration
At present, we often see the death list of department stores. Sometimes you have to look at the death list of e-commerce from another angle. It also has a cost, so does the express delivery, and Tmall has to deduct points. Labor needs money, promotion needs money, taxes need to be paid, and warehousing is also money, so e-commerce does not need money.
How do physical retailers respond? They will also unite to do some promotional activities, shopping festivals and other activities. E-commerce is also looking for physical stores. Yama opened a store on 34th Street in new york, and now it will open a more convenient physical store to pick up goods on the roadside. The first convenient physical store will open near the Seattle headquarters. Therefore, e-commerce is looking for entities, and entities must also intervene in e-commerce. However, I have always said that the Internet is a tool, and the focus is on how we use it.
Xiaomi is also opening physical stores. Xiaomi expects to open 200 to 300 stores in 20 17. Xiaomi claims that their floor efficiency is 20 times that of the general retail format. Because the unit price is very high, if you can sell hundreds of mobile phones a day and rent 200 square meters, the average mobile phone is several thousand yuan, and its floor efficiency is very high. This is a trend.
Another person talked about stocks. A friend bought an old factory building and hired an international designer to turn it into a multifunctional office building. At the same time, the multi-function hall has been doing different activities, making movies, making videos, or holding fashion shows. The renovation of these old factories depends on how you operate them. Especially at present, the organic combination of culture, art and entertainment, how to make use of these innovative ideas to maximize the value of existing real estate in this era of great links?
"New business" responds to change
At the turn of the Millennium, there was a big staircase in front of the Hong Kong Stock Exchange, and the Millennium activities were held on this staircase. At that time, hundreds of thousands of people were blocked! In the future, the removal of the landing has several advantages, including increasing some rental area, including those customers who can come in more directly from the underground. But when we built this landing, our idea was that we could attract people from the second floor and the first floor through this landing, so the rent on the second floor was similar to that on the first floor, which was also some ideas we planned in the early stage of our business. After the renovation, Xujiahui will become a gathering place for cultural and artistic exhibitions in Shanghai.
My former employer, Hang Lung Group, promoted the "EST" program.
Experience, service, technology,
In a successful shopping center like Shanghai, Henglong is making continuous progress, which is an important gene for success. As can be seen from Hang Lung's annual report, the Group is prepared to spend10.3 billion yuan for Shanghai, hang lung plaza and hang lung plaza. By adjusting local areas, the leased area in hang lung plaza will be expanded, especially the basement will be completely rebuilt. The introduction of new "EST" improvement by Hang Lung will usher in a new model. I am optimistic that the rent will go up after renovation.
The business environment is changing all the time, and those who adapt to the change are experienced and well-managed. I am very happy to participate in the activities of "CCIM" international registered commercial real estate investors and "CPM" international registered asset managers. I am also CCIM and CPM, so I always think that the successful operation of a project is ultimately human. How to build a good team and recruit good professionally trained people to work together is very important. An experienced management team is actually the main engine for maintaining and increasing the value of assets.
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"New commerce" is the continuation of commercial civilization. In the final analysis, both new technologies and new business models serve a new way of life. After 80 s and 90 s, there is another nickname, called "Eryuan". Different from the past, we propose that commercial real estate will be the theme experience business in the era of big links. From the marketing point of view, whether it is visual, auditory or sensory, it needs sensory stimulation marketing, but also needs cultural marketing in content. The future business is no longer just the satisfaction of functionalism, and the future will be a business generation with cultural perception, which needs the sensory realization of cultural marketing. In the era of big connection, big data analysis, precise positioning, artificial intelligence services and virtual reality experience will all become new marketing means. "New business" needs to do a good job in planning, positioning and business management with a forward-looking vision, keep pace with the times and maximize the value of the project.