The Pattern Of Wangfujing Department Store Is Worth Applause.

The near future

It also pointed out that the reform of supply chain management system with suppliers is difficult to point out.

Not only is Wangfujing department store, but this situation is actually the throes of many traditional department stores, especially state owned department stores.

Form is greater than meaning?

In August 22nd, Wangfujing disclosed the China Daily. In the first half of this year, the company realized net profit of 378 million yuan, an increase of 2.07% compared with the same period last year, and the earnings per share were 0.817 yuan.

Operating income was 9 billion 433 million yuan, down 5.97% compared to the same period last year.

Even worse than these figures is that in July of this year, Wangfujing closed its stores in Zhanjiang, Guangdong for more than a year. In addition to the loss of Zhanjiang stores, the 2013 annual report shows that Wangfujing's 6 stores in Zhuzhou, Fuzhou and Fushun are in a state of loss.

Wangfujing seems to be in the contradiction between closing stores and opening stores. On the one hand, the poor sales of new stores are dragging down performance, and on the other hand, the scale of new stores is hard to grow.

For the listed Wangfujing, it is difficult to win the support of the capital market.

To this end, in August 12th, Wangfujing department store officially announced the launching of a comprehensive strategic pformation, which mainly consists of four parts: core competence building, full channel construction and new technology application, format development and enterprise organizational change.

More than 200 of its core suppliers participated in the conference to jointly carry out "deep pool" and "all channel" strategic communication. Meanwhile, Wangfujing department store announced no longer the traditional department store business model.

And shift the focus of development to the shopping center and Oteri J format.

According to the introduction of Wangfujing, suppliers need to complete negotiations with the Wangfujing department as soon as possible, stock system docking, inventory management training, January next year, the two sides will try to inventory management.

According to the plan, by the end of August, Wangfujing department store will complete the SKU single product management mode research with suppliers, and achieve docking in November.

Starting in January next year, the first batch of Beijing department stores and Shuang an shopping malls will bid farewell to the pure department store mode and switch to the SKU management mode that is synchronized with the suppliers.

In the next two years, this change will be promoted to the national stores of Wangfujing department store.

However, this move is not optimistic.

"It's really hard for suppliers to cooperate."

Zhang Bing, Secretary of the Qingdao Liqun department store, a state-owned department store, told reporters that Wangfujing wants to integrate the supply chain through the influence and voice of the personal terminal, but this is not accomplished overnight. Even if it is time for Wangfujing to do it, it will be difficult to complete because the supplier is not a "fool" and is unwilling to hand over the benefits to Wangfujing.

According to a supplier, in fact, the so-called deep cooperation is not realistic, and wool is out on sheep. In order to achieve the expected performance, many department stores will increase their suppliers' buckles, otherwise their performance will be worse, which will also make suppliers resentful.

At the same time, for the supplier itself, facing the downturn of the department stores, the suppliers themselves are also making adjustments. For example, most of the efforts have been put online before, and now more energy can be developed to develop online businesses and increase cooperation with big business platforms.

Another insider, who declined to be named, told reporters that the pformation of Wangfujing is more meaningful than its real meaning.

In his view, although the fundamentals of most enterprises are not bad, the entire retail business is underestimated in the capital market, so the big move of Wangfujing is more significant in the capital market, and for the real operation level, the short-term significance may not be too great.

encounter

For the pformation and reform of the Wangfujing, its state-owned system is also a great resistance to many people in the industry.

"The state-owned system of Wangfujing is doomed to its difficulties."

The industry told reporters that this is a common problem faced by many state-owned enterprises. For example, although the big business has also been restructured, it is not completely changed. Its New Mart develops in the form of shopping centers. Besides the new mart of the base camp, it is slightly better, and the foreign businesses are very similar.

This view has been recognized by Xie Tao, the chief representative of central Baez in Shanghai, who has been immersed in Henan's retail real estate market for a long time. He told reporters that the Henan retail giant Denis department store also launched a pformation. Its first real shopping center was also opened in Zhengzhou.

Foreign traditional department stores, which are not plagued by state-owned enterprises, are also facing risks of pformation.

Baisheng department store is a typical representative. It is understood that after the closure of several stores and the sharp decline in its performance, the founder of Baisheng founder Zhong Ting - Shan, who was re released, personally led the search for a sole agent or sub regional exclusive agent, and set up a buyer team.

According to Zhong Tingsen, at present, China Parkson has spent hundreds of millions of yuan to sign the agency of nearly 30 brands. In the future, China's Parkson plans to introduce 100 brands.

However, Xie Tao is not optimistic about this. In his view, the so-called brand introduction will inevitably eliminate some of the original brands. There may be changes in cooperation with new suppliers including cooperative version, operation specification, strategic management, cooperative conditions, architectural design and planning, all of which test the Parkson's professional and strategic layout ability.

In the view of Zhang Bing, Parkson has entered the Chinese market very early. The basic work in the early stage has been well done, and it is the national layout. Before the early development of the department store industry, Parkson lived very well because of its management experience and international status, but because Parkson was a single store mode in most areas (there was only one store in a city), it was soon besieged by domestic regional department stores and local competitors.

"If Wangfujing is doing the pformation in the background, the Parkson will start directly from the front desk. If the pace is too big or too fast, it may be faced with the risk of failure to withdraw from the market competition."

Zhang Bing gave his worries.

In fact, behind the pformation of these traditional department stores, there is a big environmental factor -- encountering the downturn cycle of economic development.

Zhang Bing told reporters that the background of this situation is that two industries are facing adjustment. One is the clothing industry. In the past few years, the garment enterprises have been developing too fast, and now they are facing the problem of overstock. In the past two years, they are entering the adjustment period, and the department stores are the terminal of the clothing industry. Therefore, the adjustment of the clothing industry will inevitably affect the department stores themselves.

Another special reason is that gold sales are down, because last year's overspending of Chinese mothers led to gold consumption not positive this year, while the high price of gold and the impact on general merchandise can not be ignored.

Invisible future

Inevitably, the shopping center turned into a life-saving straw for most department stores.

Xie Tao told reporters that at present, there are two new stores in Wangfujing in Henan, and the two shop in Zhengzhou is operating in the mode of shopping center. According to Xie Tao's observation, the shopping center is mainly embodied in three aspects. First, the planning area is larger than the traditional department stores, and the area of the single cabinet will also increase. "Adding the edge hall, reducing the number of shops, the customer number will not necessarily increase, but the customer experience will be better"; second, there will be more room for planning and design; third, there will be changes in the proportion of the business types, such as increasing the proportion of service formats, and the most important point is that the way of cooperation with suppliers will also change.

It is understood that the cooperation between traditional department stores and suppliers is mainly based on joint point deduction, and there are two ways for the shopping center to cooperate with suppliers.

For example, if a businessman fails to fulfill the expected target at the point of deduction, the store side will collect the rent from him and vice versa.

But in the view of Zhang, the new shopping center is good, and the shopping center of the old department stores is not to change.

"Shopping centralization is actually trying to increase the experience format, but the property design of old department stores makes it very difficult to centralization of shopping, and at most there are some coffee shops, tea seats and other leisure formats in some floors. Children's business restrictions are relatively large. Some old shopping malls basically do not conform to the fire regulations for children's formats."

For this reason, some shopping centres do not want to be shopping centers and are afraid of changing after they are faced with the downturn caused by customers' improper adjustment.

In addition to the shopping center, some people have suggested that the strategy of private brand is another way of department store pformation. But Zhang Bing told reporters that private brand is actually better for supermarket based business, but for department stores, it is very difficult to finish the 35 years. It is a systematic project from training buyer, inventory management, store management, etc.

"As long as the essence of brand overlap is not changed, all pformation is empty talk."

Xie Tao said, because our deep-rooted agent system determines that this is difficult to change, sometimes the so-called change is just scratched the roof.

Even so, pformation still needs, but it takes a long process.

According to Zhang Bing, the future direction of development is that it is impossible to complete the online and offline integration through an enterprise.

Finally, it is possible that big electric providers, such as Jingdong and Alibaba, will infiltrate the capital market in the capital market and pursue deep line cooperation, such as equity participation. This deep cooperation will even extend to industrial production. In the future, it may break the existing supply chain mode and agent system. For example, the mall may not need to prepare more inventory, and more experience will be the main experience, and it will completely open up the online and offline businesses, of course, this will take a very long process.

News 1+1

Over the years, the pattern of Wangfujing has been tossing about.

In January 2013, after more than a month's delay, the online shopping mall of Wangfujing came to the surface and began its strategic layout of e-commerce.

Of course, the Wangfujing electricity supplier company lost 27 million 750 thousand yuan last year, and the fact that it continued to lose 19 million 710 thousand yuan in the first half of this year is not worth mentioning.

In February 2013, Wangfujing international purchased a 39.53% stake in spring department store through the wholly-owned subsidiary of the Cayman Islands, Baer Mont, involving an amount of HK $1 billion 997 million, or about 1 billion 603 million yuan. This is both the beginning of the layout of the Wangfujing department and the expansion of the high-end format, and also the acceleration of the consolidation of the industry.

In September 2013, Wangfujing department store formally announced the implementation of the strategic pformation.

The company will speed up shopping center and outlets business on the basis of the acquisition of spring department stores and promotion of property ownership rate.