[Group Dynamic] Big data Nuggets, see the Future of Commercial Real Estate

The field of big data, which is known as the "diamond mine" in the 21st century, from concept to strength, while attracting the madness of the giants, the infiltration of various industries has also taken shape. There is no doubt that big data's innovative application and commercial real estate industry.

It is most closely related and has spawned new vitality in the real estate sector. However, we have not yet had the opportunity to sit down and discuss it in detail, excavating the new challenges and opportunities brought by big data to the commercial real estate industry.

To this end, a Meiqiao Investment Group led, hand in hand with the real estate industry dignitaries, jointly presented big data era new thinking "collision" exchange meeting was held in Meiqiao Investment Group Shanghai conference room yesterday afternoon.

This exchange meeting is a deep gathering of big data leaders of commercial real estate. To discuss the new trend and development of commercial real estate and big data.
The guests attending the meeting were:
Lin Chong-sheng, President and Independent Director of Meiqiao, Hong Kong Nikki Investment and Development Co., Ltd.
Jiang Jiruo, founder of AB Advisory Limited
Liang Lianchang, managing director of Shenghui asset management in Chuanglian
Zhang Daqian, Technical Director of Meizhao Information Technology Co., Ltd.
Yang Bangben, chairman of Meiqiao investment group
Tang Shengyi, Vice President of Meiqiao Investment Group
Zeng Zijing, General Manager of overseas Division of Meiqiao Investment Group
Yang Qiaoman, Deputy Director of overseas Investment Department of Meiqiao Investment Group
Wang Yishi Government and Investor Relationship Vice Director
Lin Pengfei, Marketing Manager, Meiqiao Investment Group

Invited guest Wang Xiaozhi, Senior Director, Oracle Software Systems Co., Ltd.

At the meeting, first of all, Zhang Daqian, director of information technology and technology, shared with you that in the era of rapidly changing big data, the traditional real estate industry must make use of big data technology in the key links of the business chain to carry out scientific data analysis in order to help enterprises to enhance insight, assist enterprise decision-making, establish differentiated competition, and use relevant strategies and corresponding cases. This paper analyzes the important challenges and opportunities faced by commercial real estate at present.

Director Zhang Daqian well divides big data in commercial real estate into three aspects. The first is traditional enterprise data, such as CRM and ERP, which are part of big data; the second aspect refers to some data collected by equipment, facilities or sensing devices, such as passenger flow, traffic flow, and so on; the third aspect refers to social data, including member communities, word-of-mouth, live broadcast, Wechat, and so on. These three parts constitute the core content of big data.

There are several aspects of big data's application in the realization of the value of commercial real estate. First, through the collection, collection and analysis of big data, for many consumer consumption habits, consumption characteristics, consumption trajectory can be mastered, from the perspective of commercial operation can provide a lot of point-to-point customization services, including publicity, promotion, now post-80s, post-90s consumer demand is very personalized, through big data analysis to capture these preferences, big data's first contribution.

Second, through the collection of different data, we can find some hidden requirements, through the research and development of hidden requirements, we can innovate some forms of business, including new combinations, the design of business project planning, the proportion management of business forms, brand collocation and so on. Third, CRM, ERP data can make the industrial chain more perfect, caliber more unified and consistent, can improve efficiency. The collection and analysis of these data can greatly reduce costs, provide customized services for consumers, publicity and promotion, and improve work efficiency, which is big data's contribution to commercial real estate.

Lin Chong-sheng, an independent director of Meiqiao Investment Group, also has a very important identity-the operators of Shanghai Henglong Square and Hong Kong Huihui Henglong Square, eight years of "Henglong years", so that they have unique views on the development, operation and drainage of commercial real estate. He shared his wonderful views on big data's capture and screening. Sometimes, he says, the data actually lies. Therefore, commercial big data should have a choice and identification in its application. This puts forward a high requirement for the logical derivation of the data, after all, the integration of data is one thing, and the results presented are another. Big data's commercial application is to abstract the concrete things, easy to inherit and reach a consensus, and then identify them. Finally, through the professionals of the "General staff", big data was re-symbolized to realize the transmission and success of value.

Jiang Jiruo, director of Swire Real Estate Retail and founder of AB Advisory Limited, talked about the importance of data in commercial real estate. With the data, people have found a situation that is contrary to what used to be the norm. Before the customer left the time, the customer went out to the mall after which shopping mall, do not know. Only by having the data on the spot, you can't have a good understanding of the consumer, but based on his off-the-court time, constantly understand the trajectory of his behavior, in order to supplement your format and function, and make the operation better and better.

The focus of shopping center operation is no longer just on the inside of the venue, off-site has become more and more important. If we know where the consumer comes from and where he leaves and goes, we also know that the customer visit rate, customer unit price, and the attraction of marketing activities to consumers in shopping malls in the same city may standardize the whole operation. The essence of shopping malls is to keep getting visitors and increasing conversion rates. You have to keep pulling new customers to the mall and constantly improving transactions, and a lot of the work to achieve this goal is to focus on customer data outside the mall.

Liang Lianchang, managing director of Chuanglian Shenghui Asset Management, talked about the reconstruction of consumption scene in the 5G era. Liang Lianchang said that the downward pressure on the domestic economy has increased and the consumer market has been placed on high hopes of driving economic growth. Online and offline fusion has become the norm, the cost of online traffic has increased, and the online and offline joint reconstruction of the consumer environment has been forced. Shopping malls, as the most concentrated consumption scene offline, will still usher in a vigorous momentum of development in 2019. In the 5G era, intelligent commerce will reconstruct the consumption scenario. In 2018, the last batch of post-90s have reached adulthood and entered the university campus after 2000. The contribution rate of post-80s and post-90s to consumption growth has decreased, and the contribution rate of post-80s and post-90s to consumption growth has gradually increased. Most of the consumer markets of commercial real estate have been occupied by the post-80s, post-90s and post-00s. The new generation (post-90s, post-00s) pursues the consumption of independent personality, while the post-80s, which has strong purchasing power itself, belongs to the refined crowd, who are more willing to enjoy life and pursue high-quality and pluralistic consumption fun.

The development of digital technology magnifies the purchasing power of Chinese consumer groups, the material level has been satisfied, the updated consumer forced shopping malls to carry out changes, from the simple to meet the material needs, will pay more attention to its spiritual needs, more attention to experience, the pursuit of convenience and entertainment, social and emotional needs. In the future, shopping malls will serve as a platform for more consumers with similar values and interests, bringing them together to form consumption and purchase in the context of their preferences.

Liang Lianchang also talked about consumption upgrading by creating new categories, providing new technologies and channels to reconstruct the consumption structure, transmission to the project, but also so that the project is no longer an integrated platform for commercial consumer goods, the end of the pure shopping center operating era, the new commercial complex came into being, shopping center is changing from "commercial + X" to "commercial × X".

Yang Bangben, chairman of Meiqiao Investment Group, expressed his opinion, saying: "there is no eternal enterprise, only the enterprise of the times." In a technologically enabling society, commercial real estate operators get huge amounts of data, and it is equally important to analyze these data. Entity business needs to establish its own data asset management system.

In the physical business, there are a lot of data that have not been collected, such as customer portraits, voice and so on. After the collection, there can be more science and technology enterprises, through artificial intelligence or big data means to analyze, mine, and create more commercial value.

Zeng Zijing, general manager of the overseas business department of Meiqiao Investment Group, talked about the exploration of new business type, new model and new technology in the field of new retail promotion. Zeng Zijing believes that changes in technology and consumption drive the rapid innovation of new retail, which has a direct impact on the development of commercial real estate. In the future, the integration of commercial real estate and new retail has gradually become the development trend of commercial real estate operations. Based on the new retail concept and technology, the new retail of commercial real estate is based on the digital construction of people, goods and farms, so that "people" can become consumers + producers from simple passive consumers, let "goods" experience from goods to the whole consumption process including goods, and make consumers reach the scene diversification and WYSIWYG.

In fact, most shopping malls have information systems to achieve some of the business online, but not based on the Internet architecture design, lack of system integration. The new retail transformation is to reorganize and reframe and upgrade the entire old information technology architecture. In order to make it have the ability of the Internet, there is more room for expansion. Despite the difficulty, many mature commercial real estate developers have begun to actively try in this field.

These attempts and innovative means are all in order to make consumers have a newer and better shopping experience, more convenient online and offline combination of perfect services, new retail is not only promoting the innovation of the retail industry, but also promoting the exploration of new business type, new models and new technologies in the commercial field. How to promote the deep integration of new retail and commercial real estate should become the top priority of shopping center and retail store management and market strategy.

Big data, a commercial real estate development in the future, will not only be used in the early stage of research, but also in customer diversion, merchant exchange, business guidance and other aspects, and whether big data can be used to reconstruct the shopping center platform is likely to be the key for investors to beat the future.

Thinking determines the way out. For commercial real estate, which has long been competitive, the new track has been fully rolled out.