以下文章来源于真叫卢俊 ，作者真叫卢俊团队 真叫卢俊 . 认认真真聊地产，实实在在谈买房。 来源丨 真叫卢俊 （ID： zhenjiaolujun0426 ） 作者丨 真叫卢俊 图源丨Midjourney 当工作时间和商场营业时间基本同步，你有多久没有逛过商场了？ 周末好不容易挪个时间出来去商场，是不是感觉人又多，排队时间又很长？逛商场成了一件辛苦的事。所以我决定，替大家在工作日去逛一次商场，看看平 时工作日的商场是什么样的。发现：商场真是变天了，到处都是老年人欢乐的身影。 之前还在想星巴克相比于国内的那些茶品品牌价格这么贵，还都开在最好的位置上，怎么赚得回房租啊。 工作日10点半到商场才发现，原来是赚老年人的钱啊。商场刚开门，她们早已收拾妥当穿戴整齐，搜罗去哪家咖啡店 开始优雅聚会聊天了。 坐C位聊天的阿姨们 以前还看到夏天老人避暑去地铁站的新闻，现在看来根本就不需要。商场给了他们体面吹空调、休息、聊天的机会。中庭旁，自动扶梯下都有舒适的休息区 可以好好安坐；非饭点时间的餐厅门口等待区也可以让他们安心休息。 大早上，一个动漫快闪店前就有很多人排队了，叽叽喳喳还挺热闹，好奇就凑上前去看。结果发现最激动的是退休 ...

Core Viewpoint - The decline of Helen's, once a promising player in the low-cost bar market, highlights the challenges of maintaining a viable business model in a rapidly changing consumer landscape, contrasting sharply with the success of competitors like Mixue Ice Cream. Company Performance - Helen's market value plummeted from 30.2 billion HKD in 2021 to 1.8 billion HKD, a decline of over 94% [2] - In 2024, Helen's revenue dropped by 37.8% to 75.2 million HKD, with a net loss of 7.8 million HKD [4] - The number of Helen's stores decreased from a peak of 782 to 579 [4] Business Strategy - Helen's initially thrived on a low-cost model targeting young consumers, but faced a "scale trap" leading to significant losses [4] - The company closed over 500 stores in two years as part of a survival strategy, which temporarily resulted in a profit of 18 million HKD in 2023 [4] - In contrast, Mixue Ice Cream reported a revenue growth of 22.29% to 24.83 billion HKD in 2024, with a net profit increase of 41.41% to 4.44 billion HKD [8] Market Positioning - Helen's struggles stem from a mismatch between its low-price positioning and the emotional value sought in social spaces by consumers [5] - Only 34% of Helen's customers are willing to bring friends or partners, compared to 68% for competitors like Hu Tao Li [5] - The rise of alternative social venues, such as camping bars and home drinking experiences, has further diluted Helen's customer base [8] Operational Challenges - Helen's faces a heavy cost structure, with initial investments for franchise stores exceeding 600,000 CNY, compared to Mixue's 210,000 CNY [6] - Labor costs for Helen's surged by 72.5% to 1 billion CNY in 2022, adding to operational burdens [6] - The business model relies heavily on evening traffic, requiring high customer volume and turnover to be profitable [6] Competitive Landscape - The high-end market is dominated by craft beer and whiskey bars, while the low-end market is being encroached upon by convenience stores and e-commerce [6] - Mixue's success is attributed to its strategic focus on lower-tier cities and a product-driven approach that emphasizes high turnover and customer engagement [9] Future Directions - Helen's is attempting a difficult transition to a franchise model, with the "Hi Beer Partner" initiative launched in 2023, but faces challenges with declining sales in franchise stores [10] - The company has adjusted its franchise policies, which has raised concerns among franchisees regarding profitability [10] - The emergence of new social consumption spaces poses a significant threat to traditional bar models like Helen's, as consumer preferences evolve [11]

Core Viewpoint - Shenzhen Joy City, developed by COFCO Group, is set to officially open at the end of this month, marking its first comprehensive complex in Shenzhen [1] Group 1: Project Overview - The total construction area of Shenzhen Joy City is 250,000 square meters, strategically located in the core of the Guangdong-Hong Kong-Macao Greater Bay Area, adjacent to the Qianhai Free Trade Zone [2] - The project has achieved a leasing rate exceeding 99%, with over 50% of the stores being first or customized stores, featuring nearly 400 brands [3] Group 2: Unique Features and Offerings - Shenzhen Joy City aims to create the city's first artistic trend-themed street, rooftop urban social space, and youth cultural entertainment area [6] - The rooftop "Star Chef Garden" is the first cloud rainforest dining and social space in Shenzhen, allowing citizens to enjoy nature while tasting high-quality cuisine [10] - The "25 Youth Time Zone" on B1 level is designed as a trendy underground city, paying homage to the historical Baoan 25 commercial area, blending trendiness with local culture [10][11] Group 3: Future Plans and Community Engagement - Shenzhen Joy City plans to introduce more top-tier IP city exhibitions and become a landmark for trendy culture and community activities [11] - The project will focus on creating a vibrant community hub through diverse activities, aiming to establish a gathering place for trendsetters [11]