Zhang Lijun: Creating New Diversified Shopping Channels Is The Way For The Survival Of Traditional Department Stores

In the first half of the year, the atmosphere of the retail industry market was sluggish. The latest news said that Shanghai was the first in the prosperous period Department Store Huaihai Road Store was officially closed 19 years after its opening, and Beijing Pacific Department Store Yingke Store and Wukesong Store were closed one after another, which again triggered the market's discussion about the decline of traditional department stores' performance. Zhang Lijun, Chairman of the Board of Directors of First Video Group and Chairman of the APEC Development Council of China, believes that the traditional department store industry must transform in time to survive and create new channels to adapt to diversified shopping.

Zhang Lijun:

First, the surging trend of retail diversification will inevitably squeeze the living space of traditional department stores. Today's consumers are more inclined to diversified shopping experiences.

Second, the rapid development of e-commerce is eating away at the market share of traditional department stores. The categories of physical department stores with relatively large decline in performance are also the ones that facilitate online purchase, such as clothing, household appliances, IT products, etc. Even some luxury goods have been diverted due to the rapid development of e-commerce.

Third, the rising human rent and logistics costs have eroded the profit space of the department store industry.

In order to change this situation, the traditional department store industry must make timely transformation and create a new way to adapt to the trend of diversified shopping if it wants to continue to survive.

Zhang Lijun, Doctor of Economics, Chairman of the Board of Directors of First Video Group, and Chairman of China APEC Development Council.

Zhang Lijun founded the First Video Group, the earliest listed company in the field of online video in China, and the partner of the 29th Beijing Olympic Games.

As an influential elite figure in political, economic and social activities, Zhang Lijun has made outstanding contributions to promoting the stable growth and development of the Asia Pacific economy.

Zhang Lijun is active in the political and business circles and enjoys a high reputation. He is called "enterprise diplomat" by the media. In addition, Zhang Lijun also serves as a director of the Association for Cross Strait Relations, vice chairman of the China Internet Association, professor of Nankai University, etc. He has won the honors of "Outstanding Young Chinese Businessmen in the World", "Top Ten Media Innovators Who Influence China", "Outstanding Contribution Award for China's Representative Work of APEC Business Advisory Council for Ten Years", etc.