Shanghai Xujiahui (SZ:002561)2022-12-07 09:38Group 1: Company Overview - The main business of the company is clear, focusing on department store retail, with a high sales proportion in the Xujiahui commercial circle, and will continue to focus on expanding its main business [3] - The company's operating model primarily involves joint sales, with self-operated and leasing businesses also present [3] Group 2: Business Challenges - The decline in main revenue is primarily due to dispersed customer traffic and competition from e-commerce [3] - The impact of e-commerce trends on the company is acknowledged, but the extent is considered limited, as the experiential function of physical stores cannot be replaced by online platforms [3] Group 3: Brand and Customer Management - The company continuously adjusts its malls and brands, with established systems for brand introduction, adjustment, and elimination, and is improving its brand reserve [3] - To stabilize and attract customer traffic and enhance sales, the company aims to increase VIP customers and improve marketing targeting and effectiveness [3] Group 4: Cost and Development Goals - The main source of cost pressure currently comes from rising labor costs [3] - The company's development goal is to focus on chain development related to its main business while exploring an O2O model that integrates ERP and APP [3]