This article is from WeChat public account:< Span class="text-remarks">RET ret (ID: retweixin), the original title “after the fashion, the mall next “gold” What is the combination? “, title map from: Oriental IC

A decade ago, the fast fashion brand was introduced by the shopping center, and the area consisting of several fast fashion brands was the “golden location” of the shopping center at that time.

In the past two years, the performance of “Fast Fashion” has declined and the store has been withdrawn. Consumers’ attitudes towards fast fashion brands have also changed, which has led to the rethinking of “fast fashion” and its consumption behavior patterns in shopping centers.

So, what are the reasons for the end of fast fashion? What will be the next drainer in the mall after the fast fashion?

01 Fast fashion brand performance is sluggish, shopping center loses “golden partner”

In 2015, the business status of fast fashion brands declined. In 2017, ZARA and H&M closed the flagship store for the first time as a landmark event. The decline of the fast fashion brand is still a hot topic in the commercial field.

The aggregation effect is out of order, fast fashion no longer drives passenger flow

A decade ago, with the “time difference” and “value difference” as the main means of competition, head-fast fashion brands such as ZARA and H&M entered China, providing consumers with a variety of relatively affordable fashion apparel.

They also become the “golden partner” in the shopping mall: fast fashion brands with an area of ​​several thousand square meters can be used as a drain for the shopping center as long as they are arranged in adjacent locations..

In the moment, this aggregation effect is significantly weakened in shopping centers. As the fast fashion brands have become saturated in some first- and second-tier cities, the richness of the fast fashion brand in one venue has been difficult to trigger sales growth in the past, and the “golden partner” has failed in the shopping center.

Fast fashion has entered a period of fatigue worldwide

In 2018, the “recession” of fast fashion brands accelerated: not only did the head-opening store rate decrease by half, but Topshop, New Look, Forever 21 and so on were withdrawn from the Chinese market.

Overview of the National Mall, The withdrawal of the fast fashion brand is roughly three cases: the lease expires no longer, the operator terminates the contract early, and the brand is actively withdrawing due to poor management.

In the first- and second-tier cities, there are no fast fashion brands in many new shopping malls. For the storefronts left by the brand withdrawal, the shopping center usually introduces small and medium-sized restaurants, local apparel brands or experience formats to fill.

The decline in fast fashion does not only appear in China. Due to the supply chain and sustainable development of fast fashion brands, there are also colds in the world market. For example, Forever 21 shut down hundreds of stores in the US and Japan in 2019, and TopShop is also in its UK market. There is a downturn.

It can be said that fast fashion brands have entered a period of fatigue in the world, failing to grasp the changes in consumer demand, lack of digital awareness and other factors, leading to their loss of advantage in the competition.

02 Fast fashion has evolved over the past decade and has not adapted to the dramatic changes in the business environment

If you focus on the shopping center, consumers’ behavior on the floor, shopping center content, and space value have changed dramatically from a decade ago. Overall, Fast Fashion failed to make timely adjustments to the dramatic changes in the mall.

“fast” but tired, consumer definition of “fashion” has migrated

When fast fashion enters the domestic market, it creates easy-to-access fashion for consumers with high turnover rate and price advantage. Ten years later, with millennials as the main consumer group today, material excess has caused them to fatigue the core value provided by fast fashion, and the disappointing quality is the important thing that makes fast fashion go down the altar. the reason.

If fast fashion is no longer fresh in first- and second-tier cities, its popularity in the sinking market is also not as high as expected.

Overall, in the third- and fourth-tier cities, the price advantage is not obvious, and the core pain point is that it does not meet the local people’s habits of clothing consumption: Buy only a quarter of the average price of hundreds of dollars Clothes are a far cry from the lifestyle of the sinking market.

However, the fact that fast fashion is cold does not mean that consumers have stopped pursuing fashion, but that their views and definitions of fashion have shifted.

Fast fashion brands follow the big-name design, the essence is to use the consumer’s pursuit of the first-line big-name design, which shows the consumer’s “pilgrimage” mentality to the big brands at the time, and the current younger generation of consumers has obvious ” Go to sanctification.

The richness of the material makes them more inclined to the circle culture and emotional identity in the consumer field. Therefore, the consumption content with the personality and interest as the bottom support is sought after, one example is the national tide.

Of course, the national tide is also fashionable, but unlike fast fashion, there is behind it.Traditional culture and national pride are the support. Recently, the growth of Guochao brand is unstoppable, fully reflecting the renewed definition of fashion in the current consumer environment.

“fast” but inefficient, hindering the upgrade of shopping malls

Fast fashion brands are also trying to expand the consumer base, but overall, whether it is launching new brands, derivative product lines, or optimizing stores and doing online sales, have not seen obvious results.

At the same time, most of the existing fast fashion brands occupy a golden position of the shopping center, and the store area is large. In the stock era, its low efficiency to the shopping center will hinder the efficiency of the shopping center. .

In addition, the fast fashion door focuses on apparel retail, the store scene is too single, failed to keep up with the previous retail cross-border, or the retail collection store trend.

The result of the evolution of the content and space of the current shopping center is to pay more attention to the personalized experience rather than providing the standard goods. Therefore, some fast fashion brands that have been withdrawn for various reasons have been replaced by higher efficiency or better experience.

In terms of experience, fast fashion stores have not enough fun for consumers; from the digital upgrade of stores, they started later than international first-line brands or domestic fashion brands, and did not keep up with the domestic business environment. Variety.

03 After the fast fashion, what is the next drain in the mall?

After the end of ZARA and H&M “Golden Partner”, what is the next meeting that can set off a crowd of shopping malls and consumption? This is constantly being explored in the shopping center. We can rely on the status quo to make a few assumptions about the future “drainage” of the mall –

Assumption 1: “Chinese Design” or carry the fashion to the end

The rise of China’s national tide and domestic goods is similar to the process of Japanese design in the 1960s.

As we all know, Japanese design has a strong local culture style and penetrates into every aspect of life such as architecture, street, business, etc. It has become a part of Japanese cultural output.

After the Second World War, the Japanese national design group, the Japan Propaganda and Art Association (Japan Advertising Artist Club) was established in all aspects. Leading the domestic design trend, after ten years of development to the peak, and its design style was affected by Western countries. In the 1960s, the Japanese Design Center (NDC) was established to attract outstanding designers from all walks of life, advocate “people-oriented” and export designs with Japanese cultural characteristics.

Today, Chinese design has ushered in a turning point in the context of a significant increase in cultural self-confidence and has begun to move toward the world. In the future, when China’s design industry matures, it will be the time when the “national tide” really penetrates into the business scene.

Hypothesis 2: Brand update, find new growth curve

In the 40 years after the reform and opening up, there are many cases in which foreign-funded enterprises have experienced several cases in China, and many of them have re-founded brands that operate in China after the downturn.

The top luxury brands have also fallen into a trough during the 100-year operation. In China, the recent trough of luxury goods is about 2013, all productsCard management has also fallen into a bottleneck. At that time, GUCCI changed its design concept and incorporated its design into a strong style. The new designer Alessandro Michele led him to the next peak.

Therefore, the possibility that fast fashion brands find new growth points should not be ruled out. In the fashion cycle, fast fashion brands can create new value after accumulating power.

Assumption 3: The concept of “fast” extends to other formats

One of the core reasons for the rapid rise of fast fashion is the high efficiency of its high turnover rate. In the age of stocks, the concept of “fast” still has a major connection with efficiency.

At the moment, the highly recognized format in the shopping center is catering, and catering is also the most important mode of efficiency. In particular, small and medium-sized restaurants, represented by new-style teas, have become the most intensive format for shopping malls and sales, and have the strongest contribution to rents.

After the withdrawal of the fast fashion store, some shopping centers have chosen to replace them with catering merchants. This is an effective way to convert the efficacies from low to high.

Assumption 4: New retail in the mall is fully emerging

At present, the domestic new retail concept has spawned many commercial places that are suitable for the current consumption needs of young people, such as physical bookstores that are actively innovating, and home furnishing styles that are constantly pursuing upgrades.

Bookstore+, fashion+ and other concepts have been proposed, the essence of which is to reorganize the business scene, to provide consumers with the value of integration, but also a reflection of the increment.

In the future, interesting new retail stores may also become “the next fast fashion”, generating a convergence effect and attracting more consumers.

Diaodao Bookstore

Summary

Fashionable fashion, showing the exit of a commercial era. Fast and fast “fast” has been unable to adapt to the needs of the consumer environment, and is not in line with the efficiency pursued by shopping centers.

In the Chinese business environment that accelerates change, content that can keep up with the next generation of consumers is a long-term business rule.

What do you think of the fast fashion decline? After the fast fashion, what do you think is the next strong drainage style of the shopping center? Welcome to share your message with us.

This article is from WeChat public account:< Span class="text-remarks">RET ret (ID: retweixin), the original title “after the fashion, the mall next “gold” What is the combination?