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Mar.13th-Mar.15th,Shanghai

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Wangfujing Group

Wangfujing Group

Wangfujing Group Co., Ltd (hereinafter referred as to Wangfujing Group), is the largest retailing group in China, concentrated on the development of retailing business. With richly historical deposits, Wangfujing Group has been implementing its strategies of chain operation to lay out more store entities across China. By year to date, the group possesses 56 store entities, based on online retail channels and multiple business formats such as department stores, shopping centers and outlets, extending their business to the regions of South China, Southwest China, Middle China, Northwest China, North China, and Northeast China. With steadfast determination to place services at the central parts of its business operation, Wangfujing Group is committed to providing all-around service for a vast of consumers by striding toward its developmental objectives of creating an innovative life style and service-oriented platform.

On the premise of ensuring commercial qualities, Wangfujing Group has been expediting its layouts of store entities nationwide. With its existing advantages of developing department stores, shopping centers and outlets, Wangfujing Group strives to extend its commercial tentacles in the areas already radiated by its business. In this way, its enterprise brand, commercial resources and customer count can reciprocally benefit one another. In the process of accelerating transformation on its store entities nationwide, building up new shopping centers and changing its traditional format based on department store, Wangfujing Group has been embracing new commercial formats, such as catering, children care & entertainment, and education to enrich the shopping experience it can provide for consumers.

After extending its business projects successively in several cities and provinces, Wangfujing Group inspected the commercial projects in Daxing and Haidian Districts of Beijing with Taubman Group. The field trips and researches made by the 2 sides were multi-faceted, covering the regional advantages, the surrounding market and the overall planning etc. In the future, Wangfujing Group plans to work with Taubman Group in building up complexes of outlets, which can bring new shopping experience to the consumers in Beijing and the North China region in the aspects such as shopping environment, combination of categories, and brand qualities. In addition, Wangfujing Group plans to build a national first large-scale garden ecological outlets commercial complex in Taiyuan City, Shanxi Province. This is an important step that Wangfujing Group took in implementing its developmental layout of multi-format business in Shanxi Province. It is learned that the outlets commercial complex will cover an area of nearly 20 hectares, constituting a small town of commercially comprehensive outlets, which integrates gardens, culture, leisure, tourism, shopping, entertainment, consumption and shopping experience.

Aside from store entities, Wangfujing Group possess its own brand named as “Dream Space by WFJ”, which was put on a mobile client-end App platform called “Say Hi Say Yeah”. Any member that successfully registered on the platform can complete operation procedures for reservation through mobile client-end App before enjoying special discount benefits at the offline store entities of “Dream Space by WFJ”. In the second half of this year, Wangfujing Group will further drill down the value of the commercial platform to realize the sharing of customer count and resources, as well as to construct an ecosphere for serving different life styles. In the future, Wangfujing Group will provide better services and achieve consumption upgrade in a richer and more diversified cross-border interaction as well as resourceful contents based on the commercial platform.

To sublimate and illustrate its brand value, Wangfujing Group is committed to fusing its enterprise spirit with its day-to-day operations. By carrying out rich yet various commodity events, adopting innovative marketing methods, providing convenient services, re-defining ingenuity and originality, and building up brand new life styles, it is dedicated to forging the consumer-oriented festivals.

As the leader of retail groups, Wangfujing Group works with renowned brands in various forms such as pop-up shops, fairs & sales and membership activities to launch a series of discount events on exclusive commodities nationwide. On the basis of the commercial events, Wangfujing Group presents a vast of consumers with the deeper meanings of its “Original Aspiration” and “Ingenuity” from the perspectives of technology & science, fashion and shopping experience.

In August, Wangfujing Group released its semi-annual report for 2018. According to the report, Wangfujing Group achieved operation revenue of 13.19 billion CNY over the first half of 2018, increasing by 3.04% year-on-year.

Seen from its commercial modes and formats of category, department stores and shopping centers still dominated its business, accounting for more than 80% of its total operation revenue; in addition, the proportion by its business format “outlets” in the total operation revenue escalated rapidly, becoming the new force of its business growth.

From the perspectives of its business regions and store types, the sales growth of Wangfujing Group was mainly attributed to its well-developed business regions of Middle China and West China as well as its healthily developing store entities; among them, the sales growth in Guizhou region exceeded 13%, showing vigorous momentum for increase.

In terms of commodity categories, women garment, cosmetics, men’s wear, jewelry, and shoes & hats ranked Top 5 in its business format of department store, accounting for 64.88% in the total sales; among them, the sales growth in cosmetics exceeded 15%, the sales in men’s wear and women garment increased slightly, the sales in jewelry and shoes & hats decreased mildly. The categories of women garment, sportswear, men’s wear, shoes and bags accounted for more than 90% in the total sales generated by its business format “outlets”; among them, the sales in sportswear rose up remarkably by 29%, the sales in women garment declined by 5%, and the sales in the other categories achieved growth gently.

From the view of its customer structure, the rapid growth of membership consumption prominently contributed to its total sales growth for the sales proportion of its membership contribution reached to nearly 55%. Over the second quarter of 2018, the growth rate of its membership consumption was 22%, effectively offsetting the impact of the sales decline caused by its non-membership customers on its total sales growth. Although the number of its overall transaction went down mildly by about 4%, its unit ticket rose up by more than 8%.

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