3 6 Ke·2024-03-29 12:10Core Insights - The article discusses the evolution and challenges faced by China Jinmao, highlighting its rapid growth and subsequent struggles in the real estate market, particularly in the context of changing consumer expectations and regulatory environments [1][2][3][4][5][6] Group 1: Company Growth and Challenges - China Jinmao, originally a small company with sales of 850 million yuan, grew to over 100 billion yuan in sales by 2019, but faced a decline in growth by 2022 due to changing market conditions and stricter housing policies [1][2] - The company has participated in numerous land auctions but has struggled to acquire new land, only securing four plots in major cities in 2023, indicating a shift in strategy towards core urban areas [2][3] - Internal restructuring has occurred, including personnel changes and the cancellation of city companies, reflecting the need for adaptation in a challenging market [2][3] Group 2: New Product Strategy - In March 2024, China Jinmao announced a new product strategy called "Jin Yu Man Tang," which includes four product lines aimed at different consumer segments, indicating a shift towards more diversified offerings [5][6] - The new product lines include upgrades to existing offerings, such as Jin Mao Fu 3.0, which focuses on enhancing living environments through technology and design [5][6] - The strategy aims to address the evolving needs of consumers, emphasizing customization and emotional value in housing, moving beyond traditional metrics of location and amenities [6] Group 3: Market Positioning and Consumer Insights - The company recognizes the importance of brand perception and aims to deepen consumer understanding of its offerings beyond the luxury label associated with Jin Mao Fu [4][5] - Insights from extensive customer research have led to a focus on creating products that resonate with diverse consumer lifestyles and preferences, reflecting a more nuanced understanding of market demands [6] - The shift towards a customer-centric approach aligns with broader trends in the real estate industry, emphasizing the need for innovation and adaptability in response to changing consumer expectations [6]