Half a year after 1/4 One Quarter Coffee Lab opened in Dongsiliutiao Hutong, Beijing，Boss Zhang Yan received a call 188bet online casino games Chaoyang Joy City。

The other party asked Zhang Yan about the situation in their coffee shop，Includes investment、Turnover、Rent, etc.，But no“Invitation to settle in&188bet online casino games;A kind of rhetoric，But Zhang Yan vaguely noticed that“There’s something going on&188bet online casino games;。

At that time, Chaoyang Joy City had already experienced two rounds of high growth，Full-year turnover floats at more than 4 billion yuan，It is difficult to break through again，And Quanquan Coffee has its only store in Dongsi Hutong，Is the&ldquo in the specialty coffee circle;Internet celebrity&188bet online casino games;，But I have never been to a shopping mall。

“I observed the coffee brands they were looking for during that time，Basically based on the idea of ​​Dianping’s praise list，Contact us one by one。&188bet online casino games;Zhang Yan told 36氪。

Finally，Chaoyue confirmed the specific point——5th floor Yuejie Zhongdao，That is the position they mainly want to solve，So Zhang Yan was not given many other options，“Joy City has a faster advancement speed，Plus we are a new brand，No brand power like Starbucks，Won’t give us that much time to think&188bet online casino games;。

At the establishment of Quarter Coffee，Zhang Yan has a large-scale plan，And a store needs to be copied at high speed，There is basically no way around entering the 188bet online casino games mall。Chaoyue needs new business formats，Zhang Yan needs to expand，A boutique cafe in a 188bet online casino games mall was born。

Second half of 2020，Chaoyue completed a round“Specialty Coffee&188bet online casino games;Business investment indicators，Metal Hands、Berry Beans and Quarters Together，Become the first batch of "shopping malls" in Beijing;Specialty Coffee&188bet online casino games;。

Only after opening the store，Before Zhang Yan discovered that she“Too naive&188bet online casino games;。

After a store enters Chaoyue，Facing a building area of ​​200,000 square meters、11 floors above ground and 3 floors underground、A huge closed ecosystem that accommodates more than 400 merchants。Inside，Every“fish&188bet online casino games;The competitive relationship between them is infinitely magnified。

The market uses its own laws of the jungle，Maintaining a dynamic balance among hundreds of stores，This is customary。The difference is，Today’s shopping malls must also face the impact of e-commerce such as live streaming，And the &ldquo placed on the internal system in the context of real estate downturn;Bailout&188bet online casino games;High Hopes。

How to make money in shopping malls，“Quarters&188bet online casino games;How to survive，Reflects a different meaning in the current consumption environment。

No traffic, can 188bet online casino games run with you

From the most basic assessment indicators，The shopping mall investment manager only needs to be responsible for the occupancy rate and annual rental budget，But this indicator is not suitable for "Joy City";Good place&188bet online casino games;is not enough。

He Lu, a Joy City insider told 36Kr，Investment managers also need to proactively explore potential“Business Opportunities&188bet online casino games;，Commonly known as“Sweeping the streets&188bet online casino games;。Joy City implements a general manager responsibility system，The general manager requires the brand to be more refined and leading，Bad brand“Stuff red envelopes&188bet online casino games;Can’t get in either。

So it is similar to the case of introducing specialty coffee，In Chaoyue we are encouraged“Test&188bet online casino games;。He Lu thinks，The reason why the Joy City sign was able to be erected，To a large extent, it is because of playing the role of“Store Incubator&188bet online casino games;'s role。

“We are all experimenting with each other，Chaoyue only signed a 2-year contract with us，Also with an experimental mentality&188bet online casino games;。But what Zhang Yan doesn’t know，In this“Test&188bet online casino games;中，The operating logic of shopping mall stores needs to be explored almost from scratch，This is when she feels that she“Naive&188bet online casino games;place。

“I thought customers from the Hutong store would come to Chaoyue store because of its reputation，But it didn’t happen。&188bet online casino games;Zhang Yan discovered，Although it is the same brand，But the customer base is completely different——The mall is basically a pure business customer base，The decisive factor is the location of the bunk，And“Go away because of its reputation&188bet online casino games;has more customers in the Hutong store。

Add opening in “Xinfadi&188bet online casino games;During the epidemic，Just half a year after opening，One quarter of coffee sales is not ideal，Slight losses in some months，Even in some months。

Fortunately, the advantage of shopping malls is，Passenger flow is relatively stable，Missing“Punch-in style&188bet online casino games;14920_14923，It also means that the customers slowly developed are highly sticky customers。

“There is no Internet celebrity effect in shopping mall stores，This is true for specialty coffee，Generally so。So from the cost side，Although the total investment of the mall store is less than that of the alley store，But the Hutong store still recovers its investment faster。&188bet online casino games;

Before opening a store，There are basically three pressures: commodity cost、Renovation and Rental，These are things that must be invested before opening。Zhang Yan told 36氪，Joy City 188bet online casino games Mall store area 60 square meters，Monthly fixed rent is about 36,000 yuan，About 16 yuan per square meter per day，If you include four to five thousand property fees and promotion fees，It’s 20 yuan，Hutong store only 10 yuan per square meter per day。

Zhang Yan revealed，The costs of shopping mall stores are still hidden in more invisible places，For example, the business hours are not conducive to coffee operations。“The mall doesn’t open until 10 o’clock，Takeaway can only start at 10:30，You will lose the morning rush hour for drinking coffee。And the mall closes at 10pm，We have to close at 10 o'clock，But there are few people drinking coffee at night，The store’s labor still needs to be spent here，It’s very unscientific。&188bet online casino games;

In an earlier renovation stage，Zhang Yan can only work at night、Enclose these shopping malls“Hard Rules&188bet online casino games;Paying a lot of extra costs。

Enter normal business period，Not only have to go through a longer business development stage，We also have to face the "ldquo" that shopping malls continue to push to merchants.;Catfish&188bet online casino games;——“There will be a floor sales ranking every week，Cause everyone rolled up&188bet online casino games;。

Brand change is the source of shopping mall vitality，Heading 188bet online casino games will spare no effort to attract new brands that bring customer flow、Replace the old ones。Historical data display，The brand adjustment ratio of Xidan Joy City exceeded 50% in 2016，The current Chaoyue brand update rate has reached 30%。

Jungle ecology can thrive，There will always be an eagle eating a rabbit、Wolf eating sheep。And the real estate side is sitting from God’s perspective，will continue to adjust“Wolf&188bet online casino games;and“Sheep&188bet online casino games;15551_15556。Different brands correspond to different business indicators，Invisible“Differential treatment&188bet online casino games;Basically the industry consensus。

Li Liang, a senior commercial real estate person told 36Kr，In the division of labor in a 188bet online casino games mall，Main store (supermarket、Cinema, etc.) and sub-main stores (fast fashion、Amusement parks, etc.) are mainly responsible for diverting traffic，Earn rent from other small brands，Because the former usually signs a lease term of 10 to 20 years，Only short-term contracts signed by the latter have room for rent increases。

Period，Tenants who cannot bear the rent increase will naturally quit automatically when the contract expires，The shopping mall will also be eliminated through the sales rankings。“Looking at the industry as a whole，Basically follow the ratio of 2:6:2，That is, 20% of stores have discounts，60% of stores break even，The remaining 20% ​​of shopping malls make money。&188bet online casino games;

Li Liang gives an example，Sephora is very typical“Please ask for money from shopping malls&188bet online casino games;'s merchant，Sephora will reject many invitations: this year’s store opening quota has been reached、Reasons such as insufficient shopping mall level，To convince Sephora，The mall will give an example of “Free decoration&188bet online casino games;Waiting for subsidies，For the 20% of stores at the bottom of the pyramid, it is normal to accompany them。

Between brands“Fighting&188bet online casino games;The more intense it becomes，The easier it is to cultivate gray areas。

more than three months ago，The criminal verdict in the bribery case of four former Wanda Group executives is announced，Four defendants were found to be in office，Accepted a total of 1.45 million yuan in bribes in the bidding for the Wanda Plaza 188bet online casino games-level passenger flow statistics project。Go forward，August 2019，Four managers of Wanda Commercial Management Group in Wuhan, South China, complained to merchants、The supplier demanded nearly 100 million yuan in bribes，Transferred to judicial authorities。

These are just two of the iron-fisted anti-corruption campaigns within Wanda in recent years，For Li Liang, who has served as a site selection consultant for many brands in the past，This situation is really not surprising。actually，In the development and operation of 188bet online casino games mall，Investment、Project Recruitment、There is room for rent-seeking in many aspects including advertising。

Li Liang mentioned，I and my colleagues have all encountered investment solicitors who explicitly or implicitly asked for ";Entry fee&188bet online casino games;'s situation，Especially seen in popular shopping malls，And often from the investment manager、The general manager of the investment promotion department will check up and down when he comes to the store。“They usually find a more appropriate reason，For example, to ensure the quality of the project，Then you (merchant) must use the decoration company designated by us (merchants)，Of course the charges will be much higher，But the actual installation is just like that。&188bet online casino games;

“Of course there are those who insist on not stuffing money&188bet online casino games;，Li Liang said frankly，“Then you have to wait in line，If you wait two or three years, maybe this berth will be available。But time waits for no one，Some brands do not seize the opportunity to enter popular business districts，Three years have passed and the market has changed, maybe this brand has become obsolete。&188bet online casino games;

“Harvest&188bet online casino games;That internet celebrity store

Quarter Coffee and other specialty coffee，Although the brand is not as powerful as traditional big stores，But in the Chaoyue Club, he is regarded as someone who doesn’t care about profits.;Incubation target&188bet online casino games;。

He Lu said，Chaoyue’s 5 themed neighborhoods，It is a space specially reserved for less mature brands，For hatching。He gave an example: “When the second Beijing store of Internet celebrity coffee SeeSaw opens in Chaoyue，Basically not well-known in Beijing，But Chaoyue gave them the space of more than 200 square meters on the 9th floor，The decoration was also undertaken by the mall at that time。&188bet online casino games;Incubation also means“Cast a wide net&188bet online casino games;，When the situation is not right，“Exit&188bet online casino games;It becomes a matter of course。

In addition，With traffic guarantee“Internet celebrity brand&188bet online casino games;It does not mean that you have an amulet，36氪discovery，Among Chaoyue’s many coffee brands，Missing the popular brand Manner。The shopping mall where Manner settled in Beijing，Basically a medium-sized project that is not intensive in specialty coffee。

Xidan Joy City、Chang Yingtian Street、Hopson Hui and 188bet online casino games popular projects，He was nowhere to be seen。

The market is never short of new brands，Scarcity、Internet celebrity and market size will come and go one after another in the development process，There are new brands using 188bet online casino games to gain Internet celebrity effect，Some brands were abandoned during the bottleneck period。

Compared with 188bet online casino games，The seemingly disadvantaged brand also has its own calculations。

In the circle，Many brand owners and developers are active in many WeChat groups，When necessary，Everyone will huddle together to keep warm，To prevent being placed in a passive position by the powerful Party A (developer)。Li Liang is also in that group，“Either look at how much your rent is，Either we go to negotiate together。&188bet online casino games;

He told 36氪，One of the more typical things is，When Xiyu withdraws from the North China market，The developer said hello to trendy brands with good relationships，means“All project locations can be given to you directly&188bet online casino games;。

Because the 188bet online casino games is least willing to face it，It is the brand default and withdrawal，Resulting in point gaps and losses，Thus, the trendy brands that got the news in advance were able to take over all the points in Xiyu at the same rent。

There is also a more advanced“How to play&188bet online casino games;，Many brands open their stores in top shopping malls without separate accounting of profits and losses——This type of store plays more of a role in brand promotion，The additional high-priced rent and entrance fee will be regarded as the overall brand promotion fee。

And when a brand takes advantage of this to become a “Famous brand&188bet online casino games;It may produce internet celebrity effect，His right to speak as Party B will be reversed in an instant，In Li Liang’s words, it can be reversed“Make money in shopping malls&188bet online casino games;。This routine is especially applicable when facing second- and third-tier shopping malls or second- and third-tier cities。

a few years ago，When the trendy concept first appeared，Li Liang is cooperating with a trendy toy brand that is very popular now。After promotion by opening stores in Beijing Heshenghui and other 188bet online casino games，The brand quickly became popular，Soon received an olive branch from a shopping mall in Jiujiang, Jiangxi，I hope they will open a store in Jiujiang。Li Liang’s memories，The conditions he negotiated with the other party at that time were，The decoration cost per square meter of the store is about 2,500 yuan，The shopping mall needs a subsidy of 2,000 yuan，There is no basic rent，Only property fees plus 10% rent are paid every month。

“In fact, the decoration fee is 2,500, which is already explained，In fact, with shopping mall subsidies, I basically don’t have to spend money on decoration。This way we won’t lose money even if our monthly sales are only 70,000 to 80,000 yuan，Because you only have to pay seven or eight thousand in rent，That is, 10% rent-to-sale ratio，The industry is basically at 20%-25%。Add several thousand more property fees，The overall store rental cost is only 10,000，Add two more employee salaries，We will definitely not lose money。&188bet online casino games;Li Liang added。

He also revealed，Currently Uniqlo、UR and many other brands will sign similar terms with shopping malls，If the opening rate of all shops is less than 70%, rent will be waived、Supermarkets need to be free of rent before opening，“Because of the low opening rate and insufficient customer flow, I (the brand) suffered losses，But if I can pay out the rent，Only pay employees’ wages plus a decoration fee，Basically you won’t lose money。&188bet online casino games;

Inspired by this，Building momentum in the head shopping mall，Go to waist shopping malls or second and third tier cities to harvest，Many Internet celebrity brands have copied this routine，Use the information gap and traffic gap to sink the market“Cutting leeks&188bet online casino games;。

188bet online casino games vehicles "kill" entry

Not all 188bet online casino games can be as lucky as Joy City, which started its layout early，Even in the bustling areas of first-tier cities，Latest entrants will also face the embarrassing situation of having no cards to play。

Located in Shanghai North Bund，The 263-meter-tall Star Harbor International Center is the tallest twin towers in Shanghai。The land was acquired by China Jinmao and SIPG in 2012 for 56.Won 800 million yuan，At that time, 188bet online casino games not only set a new record for the total price of land in Shanghai，The total price king in the country。

2018，“King of Earth&188bet online casino games;Acquired by CapitaLand for NT.8 billion，That is, the&ldquo which has just opened for half a year now;North Bund Raffles City&188bet online casino games;'s predecessor。Gorgeous past life background and great location，Bring this project attention，We welcomed 300,000 customers on the first day of opening last year。

Just the excitement of the opening cannot hide the difficulty of attracting investment。Li Qin, a businessman from China Resources, told 36Kr，Close to opening，The first floor of Raffles City on the North Bund is not full yet，Urgently negotiating with multiple 188bet online casino games vehicle brands to settle in，Only one floor of vacant spots has been occupied。

Only on the first floor of Raffles City on the North Bund，The MG XPOWER gathered together、NIO Space、Four new energy vehicle stores of Zhiji Auto and Cadillac Pure Electric IQ Space，and other“Traditional traffic store on the first floor&188bet online casino games;Share prime location and traffic。

Why did Raffles choose a new energy store for emergency relief？“New energy car stores are all basically decorated，Very simple，Easy to accept，Just put one or two cars in the end and it’s done，Manpower requirements are also low，One or two clerks per store are enough，And new energy brands will not drop prices in shopping malls，The rent is high enough&188bet online casino games;，Li Qin listed a series of benefits。

In fact，New energy vehicles block the shopping center，It has been an obvious trend in recent years。The first floor of the mall is no longer just Zara and other fast fashion，Or Starbucks and other long-established beverage stores，More and more new energy vehicles are entering 188bet online casino games。

From the perspective of car companies，The huge demand for store openings is about to emerge。“Most new energy brands have very few models，It is not cost-effective to rent a 4S store，Not as good as the shopping mall customer base、High exposure。&188bet online casino games;

As a result, new energy vehicle brands have become many shopping malls“Performance&188bet online casino games;’s choice，Li Qin said that extreme operations similar to Raffles are not uncommon in the industry，“For example, the brand you want cannot meet the opening time、Unsuccessful investment promotion and other situations，Shopping malls will do this&188bet online casino games;。

Li Qin told 36Kr， Fixed rent and turnover deductions，They are the two main ways to make money in shopping malls。But between two modes，There are broad operational zones and combinations，In Li Qin’s words，“Do our business，Nothing is off the table，All cooperation is based on the consensus of both parties。&188bet online casino games;

The most common industry practice is，Rent and deductions“Which is higher&188bet online casino games;。“For example, the fixed rent of a store is 50,000，The turnover deduction is 10%，I sold 300,000 yuan a month，Then pay rent of 50,000，Sold 1 million next month，Then pay 100,000。&188bet online casino games;

New energy vehicles are special，The cooperation method adopted by many car companies and shopping malls is，The mall only charges rent，But the rent will be higher than average，Store sales are not included in the total retail sales of the mall，But shopping malls will not sign long-term contracts with new energy vehicles，“The shortest contract can start from half a year&188bet online casino games;。

This makes new energy vehicle stores and shopping malls，Smoothly establish“Make quick money&188bet online casino games;’s mutually beneficial relationship。An industry insider also confirmed this model，“(New energy) without passenger flow、Does not improve customer experience，We are just looking for short-term income&188bet online casino games;。

36氪 visit and discovery，There is a WM Motor 188bet online casino games on the first floor of Chaoyue，In the atrium next to the Apple 188bet online casino games，Opened booths of Xiaopeng and Jikrypton respectively，There is also a Cadillac booth in the atrium next to Uniqlo。

The new energy vehicle booth is too crowded in the atrium，188bet online casino games affect customer experience，Many people within Joy City are dissatisfied with this phenomenon。In their opinion，This is one of the typical manifestations of Joy City’s internal management actions going awry。

“Some shopping malls increase unreasonable net profit targets for investment managers every year，Requires rent increase of tens of millions，This does not conform to business logic。&188bet online casino games;Said by the aforementioned industry insiders，“No way，We can only complete the targets through new energy vehicles。&188bet online casino games;

As 188bet online casino games enter structural saturation，The sequelae of rapid expansion are gradually emerging，The crazy influx of new energy vehicles into 188bet online casino games is just the tip of the iceberg。

According to data from Yingshang.com in 2020，More than 50% of 188bet online casino games across the country are at a loss。Investor Zhu Jiu’s analysis of 36 Krypton，At the physical level，The peak period of construction of large 188bet online casino games has passed，Now saturated in densely populated areas，In the new development area，The number of constructions is also declining。

Industry difficulties superimposed on the epidemic and the epidemic continues，Even a head like Joy City has its own problems。Affected by the real estate cycle，The residential business is putting increasing pressure on the group，The role of 188bet online casino games with better cash flow has also changed。

Financial report display，First half of 2021，Joy City Real Estate achieved an income of approximately 21 from sales of properties.3.9 billion yuan，Investment property (188bet online casino games mall)、Commercial real estate rentals mainly including hotels、The total management income is approximately 25.0.7 billion yuan，Has exceeded the income contributed by property sales。

Joy City passing through 2012、After two high growth periods in 2016，188bet online casino games mall sales increased from 2 billion to 4 billion，For any sufficiently mature and large organization，To continue growing，Not only tests the team’s thinking，It also tests the value orientation of senior management。

Although it is not clear internally，But Joy City vaguely revealed the secrets from“Strike the country&188bet online casino games;To“Shoujiangshan&188bet online casino games;Signs of change，The internal emphasis began to be “Can be copied&188bet online casino games;and“Scale expansion&188bet online casino games;。Many brands expressed their opinions to 36Kr，Joy City’s investment style has changed，“I used to always get calls from them，Now we basically go to their homes to find them&188bet online casino games;。

What’s behind 188bet online casino games is，The real estate industry as a whole faces tightening environmental supervision，Developers rely on commercial real estate to generate cash、The demand for profit is becoming more and more urgent。

around 2013，With Real Estate“Golden Ten Years&188bet online casino games;Entering the end，The financial environment is tightening，The spring of rapid growth of development properties has come to an end，The ambitions of real estate companies further turn to business、Commercial Office、Hotels and other investment properties are moving forward。

This period，As a more stable cash flow、Sustainable business format，188bet online casino games are also gradually moving towards overdevelopment。A large number of developers are pouring into major cities in the form of brand chains to capture territory。Hong Kong-owned Hang Lung enters Shenyang with the help of benchmark projects in Shanghai、Jinan and Wuxi；Wharf uses IFS to set a new benchmark in the southwest region in Changsha；Longfor Tianjie and China Resources Mixc continued to grow in size during this period。

The fierce ones are like Wanda，Rely on strong execution from top to bottom，Created ultra-high efficiency from land acquisition to opening in 18 months，But it also makes the styles of 188bet online casino games across the country almost the same。

The consumption power that a single shopping mall can undertake is approaching the ceiling，In addition, the regulatory authorities have continuously attacked the real estate industry，It is slowing down the residential development business, which is the main business within real estate companies，This external environment forces real estate companies to put forward higher requirements for the commercial real estate sector where 188bet online casino games are located。

Just like some investment teams have received almost impossible performance growth tasks，Shopping malls also have to play the role of&ldquo with greater output;Cash Cow&188bet online casino games;。

Under market saturation and internal pressure，On the one hand，The investment promotion departments that are the main force in renting have attracted new energy and other consumer brands that are easy to make quick money；On the other hand，Some 188bet online casino games are also looking for ways to break the situation that can bring new growth points。

In the past, the focus of 188bet online casino games to achieve revenue was rent，Rent is generally composed of basic rent and store sales share。Therefore, the existing attempts are mostly focused on increasing store sales。

"developed by Rulong Lake Group";Longzhu&188bet online casino games;Greatly revitalized the membership system of Longhu Tianjie。

A developer who once worked on the Longfor digital team told 36Kr，The group first developed“Longzhu&188bet online casino games;It is an internal property、Business and many other waterway empowerment，Longfor employees can use“Longzhu&188bet online casino games;Consumption in the staff restaurant，Member consumers of Longhu Tianjie can also use“Longzhu&188bet online casino games;Go to more third-party applications to redeem benefits。

“Consumers earn points in other shopping malls，Basically, you can only purchase cash or exchange for small gifts，Reset to zero by the end of the year，But‘Longzhu’Not only available in shopping malls，You can also buy coffee from the third-party apps we cooperate with、Buy fruit、Buy video membership，In this way, our members’ stickiness will be stronger。&188bet online casino games;

But at the same time he also revealed，Development“Longzhu&188bet online casino games;The investment is also very large，According to his introduction, Longfor is responsible internally for ";Longzhu&188bet online casino games;The large membership group of development and operation maintenance has about 100 people，In addition users use“Longzhu&188bet online casino games;When realizing rights such as cash redemption，The group also needs to subsidize funds to merchants，The budget given by Longfor management is “No upper limit&188bet online casino games;。

But look at the entire industry，At a time when most real estate companies are still facing financial pressure，Few people can afford 188bet online casino games cost。Longfor, which has relatively stable financial leverage，The teams of the above developers have been optimized，For more real estate companies that still face the risk of default on debt repayment，Long-term planning is obviously not as efficient as making quick money。

188bet online casino games difficult to replicate the valuation advantage

Then，It is difficult to tap new growth points，Can 188bet online casino games switch to the capital market to make money?？In other words，Rely on the valuation advantage that is more favored by investors than residential development，Commercial real estate can be transformed through spin-off and listing，Can we even open up another financing channel for the parent company like the property sector?？

Previous years，The booming property listings have led to the listing of a number of property management stocks，And 188bet online casino games has produced star stocks such as Country Garden Services, whose market value exceeds that of the parent company Country Garden，The actual net profit difference between the two is nearly 20 times。

Stable and sustainable cash flow，Business management services and property management services have many similarities。Zhujiu thinks，Layout in the core area of ​​the city、The rents of 188bet online casino games supported by brands are relatively stable，There is also room for improvement，Equivalent to a very sustainable money tree，The capital market really respects this type of product。

However, compared to a community, there is always a stable flow of cash flow from owners to the property management company，188bet online casino games rely more on the market and their own operational strength，In other words，Greater uncertainty。

And the current data continues to amplify this uncertainty。Zhujiu mentioned，There are only more than 300 cities in the country that can accommodate 188bet online casino games of more than 100,000 square meters，Already close to saturation。

“Many cities with a population of one million，There are five or six shopping malls in the city。And now many local governments no longer pay attention to such large‘MALL’Interested，Because he knows it，A city with a population of one million only has so much consumption power，Build five or six‘MALL’Put it there，Roll with yourself，It is difficult to have room for growth。&188bet online casino games;

Therefore，Commercial real estate after split and listing，It may be difficult to achieve the performance growth rate expected by shareholders of listed companies。In addition to the impact of the current epidemic，Zhujiu believes that commercial real estate 188bet online casino games be difficult to achieve the same popularity as real estate in the short term。

In addition，Under the stock market，Many 188bet online casino games mall developers have also proposed light asset strategies，But except for Wanda Commercial Management, which has already transformed，Other participants are not louder。Admittedly，Financing tightening、Nowadays, real estate companies generally have tight capital chains，It is more practical to achieve expansion in a way that consumes less of your own funds，But Zhujiu also mentioned it，There is currently a lack of commercial brands with enough appeal in China，In addition, developers used to use business as a means of acquiring land，Insufficient attention，So the advancement of light assets is slower。

The realization of the vision of asset lightness，It is also required that 188bet online casino games break through the inertia of relying on traffic advantages to achieve rental income growth，Leaping towards establishing brand advantage。

Under multiple squeezes，Like Joy City, put“Principle of replicability&188bet online casino games;There are many people who have raised it to the highest priority。Affected by this，Mature brands continue to have a strong voice，Control the rhythm of cooperation，For example, Starbucks sign for 8 years、HiTea one-year signature for 5 years，I will never give in to open a store“Red Line&188bet online casino games;。

From this perspective，Zhang Yan and her quarter are lucky。The overall 188bet online casino games mall industry is gradually showing a solidification trend，Want to enter popular projects，Opportunities for new brands will only become less and less，Brands entering a downturn，will only be abandoned more often。

(At the request of the interviewee，Where is the path 188bet online casino games article、Li Liang、Li Qinjun is a pseudonym)