Analysis Of The Achievements Of New World Department Store "Increasing Revenue And Reducing Expenditure"

These changes are gradually attracting the attention of the market.

According to the world clothing shoes and hat net, in September 20th, New World Department Store China (00825) announced a "phased achievement": as of June 30, 2017, the annual profit of the company increased from HK $45 million 400 thousand to HK $128 million 300 thousand in the previous year, an increase of about 182.6%, an increase of three times compared with that of the previous year.

With doubt, we walked into the new world department store.

The head of the Department Store proudly told us that the huge increase in net profit last year is entirely due to the achievements of the company's innovation and pformation.

Deepen management

The term "new world department store" is called a financial year. In the past financial year, they have done many new things and are making changes in their own words.

Come to Pujian Road store beside the headquarters of new world department store in Shanghai. There are many customers and rich products. At the first sight of the legendary "air slide", the laughter of children comes from time to time. The head of the new world told reporters: "here will be renovated and rebuilt immediately, and will be incorporated into many new ones."

And customer experience.

Under the guidance of CEO Niu Wei's store "one shop one policy" business strategy, new world department stores reorganized its stores, forming 4 product lines: new department stores, shopping centers,

City ole.

In order to enable stores to flexibly respond to market changes, actively and independently carry out business adjustment and seek breakthroughs.

A number of stores have actively followed up. Nanjing New World Department Store (Nanjing store), Beijing New World Department Store (Beijing store) and Zhengzhou New World Department Store (Zhengzhou store) have set up the theme blocks called New Territories 88, cat street and Temple Street 7, respectively.

Among them, the Nanjing store with the trend of mini mall is the first to introduce the new theme 88, Wen Chuang New District, which explores the theme. Through the pformation of the old property, it has injected hot elements such as shopping, leisure, creative arts, life culture and food to achieve an increase of nearly two times in revenue and a year-on-year increase in passenger traffic by about 20%. It also won the title of "2016 China's good store".

The new world department store in Changsha copied the business model of the new territories 88. In July 2017, it launched an upgraded version of the MAX commune. Its passenger flow and revenue increased by nearly 3 times.

Yibin store is the only new store opened by new world department store last year. Operators spent most of their energy on intensive cultivation of existing stores. But then the new world department store will further develop new projects with the core of Beijing, Shanghai and southwest.

The advantages of some stores have been strengthened. Taking the Beijing store as an example, the cosmetic area has expanded nearly 20% of its business area. New cosmetics brands such as YSL, GIORGIO ARMANI, KIEHL 'S, fresh, Shu Tsuen show and snowflake show have been introduced on the basis of the strong front-line cosmetics. Sales of cosmetics have increased double digit year-on-year, ranking the forefront of the market.

Shanghai Wujiaochang store, Chongqing new world department store, Chengdu new world department store and other stores have obvious advantages. Tens of millions of shops are ranked in the forefront of the city and even the whole country. The total annual brand replacement rate of the new world department store exceeds 25%.

In the past fiscal year, the new world store strengthened its own brand system.

LOL's original life, "new say" collection store, N+ baking, N+ superior products, N+ convenience, including the eight brands cover restaurants, supermarkets, lifestyle apparel many formats.

Among them, the LOL original life concept store, which first entered the market, expanded in addition to the new world group system. It also moved to Shanghai Joy City and the total number of shops increased to 13.

In addition, LOL has classified management of the whole store. Its black label, gold label and silver label store provide different customers with their consumption power matching products. The sales increased by double-digit year-on-year, becoming the most mature brand in the new world department store's own brand system.

The head of New World Department told reporters that the annual report of last financial year is the general currency version of the Hongkong stock exchange. If it is the renminbi version, the data will be higher. Sales year-on-year, revenue and net profit are all positive growth. This is the first time in recent years.

Innovation gene

New world stores seem to have found the feeling and state of entering the mainland market in early 1994.

Under the resources superiority of Hong Kong resources, the new world department store has become the earliest department store to introduce foreign goods in the mainland of China.

At the beginning of 2000, the exclusive brand of new world department store accounted for more than 30% of the brand.

At present, the call of "customer first" is booming, and the New World Department first proposed the concept of customer service with customers as its friend 20 years ago.

A senior member of the Department Store recalled that the slogan of the industry was "customer is God". In fact, due to the lack of materials, China's department stores are still in the seller's market, and service awareness is also in the enlightenment stage.

New world department store is one of the department stores that put the slogan on the floor.

In those years, they took the lead in the implementation of "VIP classification" in the industry, and set up VIP rooms in stores.

The guests will be sent and escorted by the special person. The guide will send the latest products of this season to the VIP hall for the guests to try on.

For the VIP customers on the list, the guide knows their favorite brands, styles and sizes of clothing and shoes.

Early in Wuhan, Shenyang, Beijing, Harbin and many other stores, they carried out the activities of "VIP back home", closed shop at 17 in the evening, and made VIP special market, which was very popular with consumers.

Last year, the new world department store put forward a series of strategies for consumer service, such as "chief experience officer" and "happiness theory".

New world department store built its B2C e-commerce platform more than 10 years ago, but because of the industry's well-known reasons, it turned to the Internet application strategy after "burning money". Last year, they began to accelerate their landing with the development of Internet platform and new technology, and actively contributed to improving service efficiency and operational efficiency.

Therefore, the new world department store has an innovative and inheriting business. In the early years, Hong Kong's business philosophy, management culture and commodity content construction are all ahead of the same industry. What they need is the energy regeneration that keeps pace with the times.

Open and integrated

As the first department store to enter the Chinese mainland market, the new world department store has innovative genes, accumulated experience and cultural deposits. Of course, he also suffered from the "big business disease" just like those of the same era.

According to the new world department store staff, CEO Niu Wei took office for more than a year, has repeatedly put forward in the interior, "new world department store to the critical moment of self revolution, self pformation is both the trend and the trend."

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Niu Wei is a domestic executive who is trained in the new world system. He always starts from the store, so he knows that the new world department store's "enterprise disease" has served in Wanda, Yintai and other enterprises. In the new world department store reform, he advocated "breakthroughs and overlapping generations" on the basis of inheritance.

Wanda is famous for its military management and efficient execution. Yintai is open, flexible and dynamic. Every enterprise has its own unique DNA. It has a 25 year old new world department store.

For employees and enterprises, what they need more is a "forward direction", a "clear target", "an activation code".

In the past year, Niu Wei is like a "preacher".

In the new world department store, he actively implemented the PBC excess benefit award mechanism, promoting the store's innovation and efficiency up to 100 million yuan. The BBC super profit return mechanism for suppliers is also the industry's first initiative.

At the same time, in order to develop private brand and innovative business, the "business partner" also appeared for the first time in the enterprise.

Team youth and specialization are the foundation of innovation.

Last year, a large number of post-80s employees entered the management level. For the post 85 and post-90s, the "three level Peng" talent plan also came into being.

This year, many professionals joined the new world department store to play a positive role.

At the annual meeting, Niu Wei said happily that this year, he was most satisfied with the enthusiasm and positive energy aroused from his employees.

Many employees describe the new world department store as "open the windows and let fresh air blow in".

The team, including Niu Wei himself, is more willing to go out to communicate with the industry than before, showing a willingness to actively integrate into the industry.

Resource integration

As the flagship of the new world group in the Chinese mainland market, the new world department store will have more resources to support the parent company in the future.

Over the past year, Zhou Dafu jewelry and new world department store have conducted many in-depth cooperation, creating a single brand in the new world department store's single day high.

This year, Zhou Dafu's new product and new marketing case will start in the new world department store.

The advantage of department stores is to give consumers a sense of pleasure through quality products plus scenes from buying.

In the form of new retailing, the pformation of traditional department stores is being forced by the progress of industries and the upgrading of consumption. Its breakthrough is to identify targeted customers and make targeted customer service.

The new world group already has a number of IP resources, including its unique cartoon character. The new world will spread these IP to education, catering, entertainment and other sections.

New world department store also introduced the Hongkong D PARK children's format into China's market.

In the layout of commercial projects, the new world department store has not yet entered the area. K11 has already opened shopping centers with artistic forms (such as Guangzhou).

New world department store and K11 complement each other in format.

With the successor of the third generation of Zheng Zhigang, we believe that the business culture of the new world system will be stronger, and that the interaction between innovation ideas and resources within the group will also play a better role.

Facts have proved that traditional department stores can be changed. Golden Eagle, Yintai, Tianhong, and new world department stores are changing.

In this process, the direction must be accurate and faster.

More interesting reports, please pay attention to the world clothing shoes and hats net.