Shopping malls' competition doubled in a year! New players are bigger, and very aggressive.
Chengdu's shopping mall industry is the most competitive in China and even Asia, with mall square footage doubled in 1 year! China's consumers are flocking to the shopping malls not just for shopping: 45% of young affluents says they enrich their social life in the malls (JLL survey). Therefore, market players are aggressively targeting this fast-growing consumer segment with discounts & freebies.
Chengdu IFS (CDIFS) is the largest and top sales mall in Chengdu & the western China region, as well as an innovative retail trend-setter. The urgent priority is to expand its leadership, not just in business, but also as the pioneer brand that forms the industry's benchmark and for consumers to look up to.
Standing still wasn't an option.
To win the battle of leadership, CDIFS took a bold move to:
- Strengthen its appeal and leadership by creating an aspirational experience unique to CDIFS
- Attract Young Affluents by playing to their thirst for social engagement
- Open new sales channels by converting social commerce into dollars