Parkson

(June 18th, 2016 Qingdao)On June 18th,Qingdao Lion Mall held its grand opening ceremony where “lighting up the fashion life” was highlighted. The opening of Lion Mall means the launch of the strategic transformation of Parkson Group. As the very first experiential shopping center, Lion Mall presented a trendy and solemn ceremony when the winter comes to retail industry. A number of guests have participated in this ceremony including Malaysia Lion Mall Chairman and Executive Director Tan Sri William Cheng, Puan Sri Chelsia Cheng, Malaysia ambassador DatoZainuddinYahya, Parkson CEOMr. Zhang, SIIC Party Secretary and Executive Director Mr. Wang, Executive Director Mr. Lu, Executive Director Mr. Zhou and the well-known badminton player Lee Chong Wei.

Tan Sri William Cheng gave an insightfuland warm speech and wishes to Lion Mall, as he said, “Lion Mall is the first shopping mall of Parkson Group. It is a strategic move to the consumer-orientated transformation of Parkson Group, and is another milestone marking down by the company in China as well.”

A Contemplator and Forerunner under the Challenge
It has been 22 years since Parkson entered China as the first foreign retail department store company. Now, Parkson Group has a huge network of 58 stores covering 22 provinces nationwide. In recent years China economy has gradually slowed down which significantly influence retail industry including Parkson. Meanwhile, the rising of larbor and rent costs, competition from E-commerce and shopping centers together with homogenization problem are taking business from traditional department stores.

As the leading company in retail industry, Parkson is well aware of the current challenge, therefore, Parkson initiates the consumers-oriented strategic transformation, especially focusing on the rising middle class from second- and third-tier cities. The opening of Lion Mall is a new start to provide consumers 360°consumption experience. Parkson believes that a successful shopping mall should equip itself with multifarious functions of entertainment, dinning and fashion rather than simply shopping so that customers could enjoy the all-around quality service. Lion Mall is exactly designed and developed according to this strategy.?

Optimizing the consumption structure and upgrading the experience
Facing the competition from online shopping and other department stores, the 8 business units of Parkson Group will accrue a large amount of lifestyle concept element, dedicating to improve the quality of life of customers. For instance, Parkson Supermarket will aim at improving merchandise procurement and bringing consumers a more diversified product portfolio, which is part of the organic retail ecological system.

Parkson Group will enhance merchandising strategy as well. Through exclusively introducing international popular brands like TOUS and establishing its own affordable luxury and housewares brand such as Zie Zac and Serene, Parkson enriches the brands mix dramatically. The outstanding localization strategy makes Parkson’s success possible in the past, but now, Parkson has even larger flexibility over brands combination to satisfy consumers of different regions.

Strengthening membership program and multi-channel communication
Parkson strengthens membership program to provide better service and care to customers. 8 million VIP members are able to enjoy cross-border privileges and experience. Parksonwill prepare comfortable membership rest room, design interesting member-only events and offer attractive bonus points redemption scheme. It’s worth mentioning that ParksonWeChat service account has accumulated 1.4 million followers and is growing with 50 thousand new followers per month. Based on this huge member base Parkson could easily and timely obtain the tastes and trends among customers.

The all-channel strategy adopted by Parkson will engage the consumers in a way that they can easily interact and communicate with Parkson. Parkson Web and mobile App provide consumers convenient mobile shopping experience. Parkson dedicated to establish O2O division to watch over off-line and on-line business to compete with online shopping platforms. Through developing the Weibo and WeChatplatfoms and integrated marketing strategy, Parkson is able to communicate its brand culture and value with every one.

Although the economy plunges, Parkson still believes that China retail market is one of the most potential markets globally. The middle class in China are expected to grow to 500 million within 10 years whose potential purchasing power is beyond imagination. Relying on the 22-year operating experience in China, Parkson will lead the industry to a new era and continue to build up the integrated, lifestyle and fashionable shopping experience for Chinese customers.

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