New World Department Store Supermarket, LOL Lifestyle Concept Store, N+ Baking, Fresh Food Peter's Fresh Selection, Children's Hand-made Experience Louis Baked, Theme Street New Territories 8 8 After New World Department Store's Own Brand Camp Involved in Clothing Collection Store “New†Said, "The brand has recently unveiled on the third floor of Shanghai Wujiaochang Paris Spring. The opening day attracted a large number of passengers and customers responded well to the clothing models, accessories, and flash store models.
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“The core purpose of our vigorous development of our own brand is to enhance Xinbai’s in-depth operating capabilities and gradually establish our own characteristics in our content and products to meet new consumer trendsâ€, Wang Qiruo, Director of Operations of New World Department Store, accepted the visit. Mentioned.
System forming
Clothing is one of the largest categories of department stores. In recent years, homogeneity and high prices have become the biggest pain points. New World Department Store's self-employed clothing collection shop "new" is born in such an environment. In order to solve the problems of homogenization and high prices, "new" creates a scenario-based business model with simple Building materials and products that are cost-effective and feature designer features create a simple, open and inclusive shopping space to create their own branded benchmarking IP.
This year, it is expected that this brand will also have 2-3 new stores opened in the New World Department Store system. In fact, to the “new†brand of apparel self-owned brands, New World Department Store’s self-operated brand camp has continued to expand over the years. “New World Department Store Supermarket†is accompanied by this Hong Kong-backed company entering the same period. At present, in order to adapt to new consumer demand, the upgrading of supermarkets has entered their re-planning.
As early as 2013, New World Department Store has brought its own brand LOL to market. “The LOL positioning is exquisite, fashionable, warm and romantic.†LOL self-employed company official told the “Lianwang.comâ€, “We are a lifestyle store of the buyer concept, not a home store, not a warehouse-style, intensive type. Stacking display sales methods."
Starting in 2016, with the business transformation of New World Department Store, LOL underwent the latest round of iterations to standardize its stores in three forms: Black Label, Gold Label, and Silver Label, with Black Label as LOL. The most high-end location store, currently has a shop in K11. LOL will select the type of stores that are to be located according to the different regions, business districts, and commercial entities, and configure products according to different store locations. LOL formed a differentiated merchandise strategy to make store positioning more accurate, satisfying the needs of different customers and expanding audiences.
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In order to bring freshness to customers, LOL attaches great importance to the update rate of each store, and the number of new SKUs has reached 1200-1500. On average, at least 60% of all stores are brand-new.
Up to now, LOL has 11 stores nationwide, including the Shanghai k11 flagship store and the Shanghai Joy City store. In the future, LOL will also work with other business systems to meet more consumer demand in addition to helping the differentiation of new products. In addition, New World Department Store has also practiced in light food.
It is reported that New World Department Store began trial baking business in 2015 and established the “N+ Natural Baking†brand. Currently, there are two stores in New World Department Store Shanghai Paris Spring Huaihai Store and Baoshan Store, and two new stores will be launched during the year. .
N+ emphasizes nature and targets young women. The person in charge of the company's N+ business told the reporter: “The roasting market has broad prospects. As the main consumer group after baking 8090 is a generation who grew up drinking milk and eating bread. Their lifestyle is more Westernized. So from the product point of view, N+ Bread is mainly used to produce healthy baked products using natural and high-quality ingredients, giving customers a wealth of choices. At present, N+ baking will introduce about 10 new products each month, and will continue to optimize products based on consumer preferences. Based on the bread business, the company will expand its product line and increase West Point and simple meals."
In addition to lifestyle concept stores, restaurants, and clothing collection shops, New World Department Store is also actively innovating in terms of formats. The theme block “8 picks in the New Territories†is a typical example of innovation in the new 100 businesses.
According to statistics, New World Department Store Nanjing Store is located in the non-core business district of Nanjing. The building area is more than 30,000 square meters. The property is old and the commercial space is limited. However, the brand-new alias “New World Trend Mini Mall†is clearly proposed to be “Young Peopleâ€. After the “businessâ€, a theme block with a clear positioning was added to “8 picks in the New Territoriesâ€, which caused a lot of repercussions in the industry. After the renovation, the passenger flow and revenue of the store have been greatly improved. This can be considered as an improvement in the transformation of old department stores. Success stories. It is reported that "8 picks in the New Territories 8" will soon be released in the 2.0 version of the New World Department Store in Changsha, the new commercial face value is higher, the scene is more abundant.
Resource Integration
As the retail flagship of New World Group in the Chinese mainland market, New World Department Store may gain more resources from the parent company in the future. The New World Group already has a number of IP resources, including a cartoon image, and the New World will derive these IPs into various sections of education, dining, and entertainment. Another positive news, New World Department Store is expected to introduce the New World Group's Hong Kong D.PARK children business into the Chinese mainland market.
According to statistics, D.Park Discovery Park collaborated with nearly 100 professional teaching groups and several internationally renowned organizations to jointly organize approximately 1,000 different types of multiple intelligence learning courses.
Unlike other project operating models, D.PARK adopts a time-divisional cooperation model for brands. It is to combine a place with different courses and teachers, that is, to diversify the single value of traditional department store children's business.
This kind of cooperation model has actually achieved a good record in Hong Kong. Zheng Zhigang, the executive vice chairman and co-general manager of Hong Kong New World Development, once disclosed that “D. Park’s rental income in the Discovery Park will increase by 30% and the rent will be higher than before. It rose by 35% to 40%. Shopping mall traffic rose by 50% during the trial period to an average of 3 million people per month."
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Internal drive
“In the past, we adopted the pyramid management model. With the change of New World Department Store, we strongly advocated the role of individual and small teams. Partnership is a trend. The new 100-organization structure will be flatâ€. Director Wang Qiruo said.
New World Department Store's self-operated projects encourage the landing of partnerships and “see who is running faster like a horse racingâ€. New World Department Store describes this private brand development model.
This "game" started from the project idea stage. At present, part of the New World Department Store self-operated project is led by the company, but more guidance and encourage employees to take the initiative to report innovation. Wang Qiruo is more inclined to the latter. "Spontaneous or initiative initiatives have more self-driven factors and are more likely to succeed."
After the self-supported project was established, the New World Department Store will adopt a company-like system in which the entrepreneurial team holds stocks. On the one hand, the professional manager has evolved into a business partner of the innovation project. On the other hand, New World Department Store has fully stimulated staff of all levels of the New World Department Store. Self-employed business innovation awareness.
With the continuous advancement of the company's transformation, the camp of New World Department Store's self-supported projects will become more and more spectacular. Of course, every project that is launched into the market will face the initial stage of survival. However, compared with the behavior of the company, small-scale small The costs and risks of range trial and error are obviously much smaller. Similarly, through the self-driven mode under the incentive mechanism, the motives that employees have elicited are the source of the company’s progress.
New World Department Store's aggressive tactical adjustments also apply to all aspects of store operations and marketing. In the eyes of the outside world, in early July 2016, after Niu Wei returned to the post of CEO of New World Department Store, he conducted a series of operational changes, including the operation of self-operated projects under the partnership system, the company became increasingly The more open, collaborative, and enterprising. Therefore, it is possible to propose an innovative partnership model, which is not unrelated to the internal transformation of the overall management mechanism of New World Department Store.
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In the past fiscal year, in order to enhance the overall capabilities and business efficiency of its employees, NWDS has sorted out and adjusted the organizational structure of its headquarters and regions. Clarify the job responsibilities of employees, establish a sound performance evaluation system, and establish new professional committees for collective decision-making to ensure that the Group's strategy can be quickly and effectively promoted and implemented, and comprehensively enhance the operational efficiency and core competencies of New World Department Store. It laid the foundation for the year-round profit growth.
In fact, New World Department Store used new business combinations, new marketing, self-innovation, and the use of the Internet to launch a series of “combination punches†to attract consumers’ attention and re-enter consumers back to the real business. Projects such as “N+ Premium Products†and “N+ Convenience Store†landed to meet the diversified consumer demands of customers and also provided new business ideas for the development of the company.
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