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On July 25, the 2024 Business Ecosystem Innovation Conference co-hosted by The Paper and Red Star Macalline

The meeting ended successfully in the Shanghai Media Group Building. Tang Jiansheng, Chairman of the Shanghai Consumer Rights Foundation and Researcher of the New Consumption and New Industry Research Institute of The Paper, Jiang Qingyun, former Director of the Marketing Department of the School of Management of Fudan University and President of the Shanghai Marketing Society, Sun Qi, Vice Dean of the School of Business of Shanghai University of Finance and Economics and Director of the Marketing Department, Xu Xiang, Executive Vice President of The Paper, Zhu Jiagui, Executive President of Red Star Macalline Group, and many leaders of home furnishing industry companies attended the meeting.

The theme of the conference is "Innovation, Fusion and Surging Stars". Through keynote speeches, roundtable discussions and other forms, we discussed how the home furnishing industry, facing the ever-changing market environment, can be driven by innovation and constantly seek new scenarios, new models and new services for commercial consumption to meet the increasingly diverse consumer needs and promote the continued prosperity of the business ecosystem.

The home furnishing industry has entered an era of innovation, and Red Star Macalline promotes the "3+ Star Ecology" strategy

At the meeting, Jiang Qingyun, former director of the Marketing Department of the School of Management of Fudan University and president of the Shanghai Marketing Society, and Zhu Jiagui, executive president of Red Star Macalline Group, delivered keynote speeches.

Jiang Qingyun pointed out in his keynote speech on "Innovation of Home Marketing in the Multipolar Consumption Era" that the current era is a consumer innovation era, which is specifically manifested in the polarization of consumption. The polarization of the gap between urban and rural areas, the polarization of the gap between urban and rural areas, the stratification of consumption purposes, and the division of consumption content are all factors that affect the multipolarization of consumption. He proposed five innovative ideas for commercial marketing. The first is to have different strategies for different markets; the second is to do omni-domain marketing or full-link marketing; the third is to do a good job of experience marketing under the premise of customer value innovation; the fourth is mass customized marketing under digital empowerment, focusing on personalization and customization; the fifth is retail operation management based on the matching of people, goods and places, and to do a good job of interaction between shopping guides, consumers and scenes.

Zhu Jiagui said that with the rapid and precipitous decline of China's real estate, commercial real estate area is in excess, and Red Star Macalline needs to break the circle. The home furnishing industry has moved from the product era to the space and scene era. Through the vigorous supply-side reform and structural adjustment in the past few years, Red Star Macalline has changed the past situation of excess commercial space, improved the shopping experience, and created a home furnishing platform that best understands China's consumer scenes. Red Star Macalline's business strategy for the next five years is the "3+ Star Ecology" that integrates home appliances, home furnishings, and home decoration. Among them, electrical appliances are the engine, home furnishings are the cornerstone, and design is the connector. Vigorously promote the integration of home appliances, home furnishings, and home decoration, and connect them in the process of 1+1+1, which will definitely create an overall market greater than 3. We hope that through our efforts, Red Star Macalline can become a comprehensive service platform that best understands Chinese residential life.

Zhu Jiagui also emphasized the importance of design. He said that design is particularly important in all sub-sectors and tracks. Respect for design value and brand value must be a sign of progress for a country, a society and an industry. Red Star Macalline began to experiment in 2021 to build a design center of more than 10,000 square meters in each city, bringing together excellent design forces in various cities, such as designer studios, independent designers, etc., to propose a better life for consumers.

Scenarios innovation recreates business vitality

The conference also held two roundtable discussions. The first one was themed "Scene Innovation to Recreate Commercial Vitality" and was hosted by Sun Fu, deputy editor-in-chief of The Paper. He discussed with Wan Liyun, manager of Red Star Macalline M+ Center, Yang Kai, general manager of Jianfa Residential Technology, Xu Gang, assistant president of Gujia Home Furnishing Co., Ltd., and Hua An, deputy general manager of Guloni Electric and general manager of ASKO Division, on topics such as the way out of the current physical business impasse and the development trend of one-stop consumption.

Wan Liyun said that the way out for physical commerce should be to study current consumer demand. Consumers’ demand for single products is not that strong. More and more young consumers have the ability to pay for design and need better personalized space, which requires designers. This is the purpose of our M+ Design Center. It hosts more different types of studios, including interior design, architectural design, hotel design, lighting design, fragrance design, etc. It also has service agencies. Future activities here will cover designers, consumers, and brands, and the three parties will become a good social space.

Yang Kai said: "Five years ago, Jianfa Residential Technology proposed the concept of ecology in the villa circle. The slogan at that time was to create a new scene. Jianfa Residential is not a manufacturer. We choose to work with global century-old brands to create full-quality coverage at the nodes of each villa. Since it is called ecology, it is inseparable from all participants in the industry. The connection of business formats is the top priority that needs to be solved."

Xu Gang pointed out that Red Star Macalline's strategy has established a very good sales scene and ecosystem for the brand. Gujia has made many changes in recent years through the study of scene power. The first is product development, which has truly evolved from developing single products to gaining insight into users' lifestyles. Secondly, it has made a preliminary transformation in store formats, which is to open different types of stores according to different trends. In addition, some integrated stores have introduced cooperation with other brands, presenting scene-based product series to consumers in the same space, allowing consumers to achieve one-stop shopping more conveniently.

Hua An hopes that his brand can also achieve one-stop shopping similar to Red Star Macalline. He pointed out that if Red Star Macalline wants to do a good job in this ecosystem, all merchants in Red Star Macalline must unite and serve customers well. Therefore, ASKO now pays special attention to cross-industry cooperation. Through cross-industry alliances and cross-industry cooperation, even if customers enter ASKO stores, they can introduce Red Star Macalline if they have needs, and customers can also enjoy one-stop service in Red Star Macalline.

Smart home life drives new consumption

The second roundtable discussion on "Smart Home Life Drives New Consumption" invited Tang Jiansheng, Chairman of the Shanghai Consumer Rights Foundation and Researcher of the New Consumption and New Industry Research Institute of The Paper, and

Zhou Shouwen, President of Kouxi Water Purification (Asia Pacific), also participated in the event, and Sun Qi, Vice Dean of the School of Business and Director of the Marketing Department of Shanghai University of Finance and Economics, served as the guest host. Discussions focused on topics such as current consumer pain points and the impact of technology on the home appliance industry.

Tang Jiansheng summarized three new consumption trends. The first trend is that the post-00s have become the new driving force and leader of consumption, which brings an opportunity. Domestic brands are now doing brand promotion. The second trend is that public domain traffic is going down and private domain is going up. In 2024, private domain will definitely exceed public domain traffic. The original traffic of Red Star Macalline was public domain traffic, but now it relies more on the private domain traffic of the Red Star Macalline brand. The third trend is that health and environment have become the focus of consumers after the epidemic. Red Star Macalline can become a leader in the concept of brand health and environment, and can gather more standards and alliances.

Zhao Lei believes that the existence of consumer pain points represents opportunities for the industry. What kind of services and methods can be used to reach and satisfy consumers' private domains needs to be changed. He also talked about the role and function of design in the future industry. He said: "The design of the home furnishing industry serves consumers, but how to use design to express home furnishing products and spaces requires some professional background to present, and this is the power of design. Therefore, design can connect the latest technology and products with the channels of real consumer needs. We must better respect its value and power."

Gong Zhenfeng believes that when discussing consumption, we must start from both the demand side and the supply side. He pointed out that young people’s consumption is personalized nowadays, and they actually look at brands at eye level. They hope to take the initiative in the consumption process, from material selection, design, including quotation and delivery, and hope to participate in it with a sense of being a protagonist. Therefore, we have to make changes, and the needs for personality and intelligence have emerged, especially the offline experience related to intelligence is too important.

Gu Junrong said that the most fundamental change at present is the change in the consumer population structure. The change in the population structure has brought about many huge changes. Now the biggest pain point between manufacturers, brands and consumers is the asymmetry between them. Because corporate decision makers and consumers have different views and life experiences, they have caused huge differences. It is not so easy to make up for this difference.

Regarding the impact of technology on the home appliance industry, Zhou Shouwen said: "As decision-makers and leaders of the company, we should stand higher in the current fast-paced business. We hope to focus on the home appliance market with Red Star Macalline. The most important thing is how to use smart AI, including some intelligent tools, to create an ecosystem that is more suitable for the current market. We should make a major strategic adjustment. This is a consumer ecosystem that we can work together to build to suit young consumers."

At present, promoting high-quality development is the proposition of the times, creating high-quality life is a social consensus, and the entire business ecosystem will be injected with new vitality and momentum. The 2024 Business Ecosystem Innovation Conference jointly organized by The Paper and Red Star Macalline will jointly promote the continuous innovation and development of the business ecosystem in their respective fields, injecting the most surging power into the high-quality development of business.