Cushman & Wakefield: After Generation Z, we need to pay attention to the AA generation | the era of urban narrative

On December 14, 2021, 36Kr held the 2021 Future City Summit in Beijing with the theme of "Urban Narrative Era". The summit brought together industry pioneers and business leaders in various fields such as real estate, technology and commerce, focusing on four major topics of experiential city, digital new daily life, atmospheric power community and super destination, and exploring the underlying variables of China's urban development in the future and the core logic of urban narrative.

With the theme of "Opening the Era of Experience Business", Zhen Shiqi, Managing Director of Cushman & Wakefield's Commercial Real Estate Division in China, mainly expressed the following views:

1, a good story IP comes with traffic, IP is the voting right of your worldview.

2, the AA generation (post-05, post-10) after the Z generation is the commercial track that needs attention, their characteristics are refusal to follow the rules, and the value of life is self-realization.

The following is a transcript of the guest speech, compiled by 36Kr Editors

Good morning, everyone! Today's meeting is particularly interesting, the first three teachers' speeches, everyone's theme and span, content output is very strong, the audience including many online listeners sound like a lot of information.

I am here today to share with you some of the more relaxed topics, not so serious, relatively more active, that is, what kind of relationship between IP and our lives and cities:

Before you start, please look at a picture, this map has a lot of common IP images, including Mickey Mouse, robot cat, Peppa Pig, know that the age of calling a robot cat may not be small. But there is an unfamiliar, golden little girl in the upper right corner, her name is Molly, her designer when she participated in an offline charity event, the organizers gave the kindergarten a small painting charity painting, there was a little girl waiting for a long time, she was not happy, beeping mouth, later by the painter to paint her down, and later bought out by Bubble Mart.

Today I want to say what ip has to do with our lives, what exactly is IP? We came to Baidu Encyclopedia Time, speaking from the English word, which is an abbreviation for intellectual property in English. Today we talk about IP more generally refers to a certain cultural precipitation, and has commercial development value of intellectual property rights, but also one of the intangible assets realization of the matrix, IP many kinds, common story IP, often given a specific image, the structure of life and interesting character and the introduction of stories, including common heroes to save the United States, looking for treasure, this IP spread is very large, the contact area is also very wide, but there are cultural barriers and age barriers, People of different cultures and ages in different countries like different IPs.

There is also a kind of IP is a visual-oriented IP, the symbol of the city of the Internet celebrity landmark, good buildings with their own traffic, their own storytelling, the characteristics of this IP is very significant, very special, but due to the problem of geographical restrictions, not we can see every day, people in every city can see, naturally will also attract people from every place around the world to come here to punch in, pilgrimage, this is the characteristics of this type of IP.

What I want to say today is that whether it is a story IP or an architectural IP, as a symbol or logo, it is more like your voting right to the worldview, what kind of IP you like, and often what kind of world you like.

IP has a strong use in commercial real estate, Universal Studios and Disney are very formed IP-based real estate and business models. We take Disney as an example, through the film and television chain as a communication, using the playground as a carrier, to attract passenger flow to interact, consume, derivatives and then have a whole chain to create.

Behind this we can see that this is the data of Shanghai Disneyland in 19 years, 50% of the annual revenue is tickets, and the other 49% is eating and drinking shopping, not so much that the theme park is a playground, but more like a large merchant, a large retailer, selling goods, food and interactive entertainment things, which is some examples of IP in the entire real estate or the entire monetization.

I believe that Universal Studios, which has just opened in Beijing this year, will have a higher proportion of our sales of derivatives and catering, because we see Universal's friends holding a lot of small gifts, magic wands to do the corresponding interaction and experience.

There is also a form of IP, phenomenon-level IP, including this period of time just hit the world 'Squid Game', in a short period of time swept the world, his production company revenue increased by 38% year-on-year, offline products sold very well, the cost of this drama is very low, but quickly swept the world, now many commercial occasions in many real scenes, restaurants, bars, nightclubs also because of the theme of this game to create an offline experience.

There is also a Chinese phenomenon-level IP, very hot Ling Na Belle, do not know the age should not be small, know, very excited (listeners) should be after 95, this is a Shanghai Disney IP doll, 17 times in a month on the hot search, a (original price) 200 yuan doll on the Internet was fried thousands of dollars, fans in order to see it, to queue for several hours, but this little princess now a film and television work is not, sometimes IP and phenomenon-level IP is so magical.

Including the cooperation between KAWS and UNIQLO in the early years, a short period of time has formed a topical and related returns, including Changsha's tea color, more than Changsha's stinky tofu and rice noodles, into a new business card, Changsha's airport two shortest queues of tea color milk tea shop, which are IP online and offline cooperation.

Through the periphery and cross-border eventually produce some effects with scale and corresponding influence.

If we redefine IP in the business field, I understand that IP should change from a simple intellectual property to a super cultural symbol, and only then can it have a strong commercial liquidity, how to change ordinary IP from ordinary intellectual property to a super cultural symbol? We need to understand the changes in the consumer population behind this, what is the change caused by the different audiences of the consumer population, and what is the core in the middle?

First of all, we simply and rudely divide the consumer group into several categories, one is the Y generation we are talking about, 70, 80 mainly, this part of the population including myself is also the Y generation, witnessing the beginning of the Internet stage, we at that stage more access to IP and knowledge through books and television, basically these two ways. The corresponding nostalgic psychology is stronger.

The second group of people is a lot of Z generations talked about today, like Lingna Belle are these groups, they grew up with the Internet, they have a very strong social culture and circle culture dependence, personality is very independent, to achieve self-worth.

The other generation is the AA generation after the Z generation, the 05 generation, it seems to be relatively young, but they are a generation that grows up with science and technology, a generation that grows up with the mobile Internet, and at the same time, the attention to digital media and technology is very large, and it is very refusing to follow the rules, hoping to realize the ideal of life through self-worth.

If we carefully divide the acquisition of IP or knowledge communication chain in each era, we can see that the nostalgic psychology of generation Y people is very serious, and the main way of dissemination at that time is books and television, although I am also a person who grew up in that era, although the media and channels are relatively simple, but the content of that era is still relatively rich and diverse, and I see a lot of things that happen at home and abroad, Japan and South Korea, Hong Kong and Taiwan, various themes, cultures and backgrounds, which have some impact on our later world view.

Generation Z, very simple, just said hand-made, Molly, bubble mart, including e-sports, and just as Mr. Zhou just said, e-sports is the same as the football of Young Chinese people. Last month's global e-sports championship was no less than young people watching Chinese football win the World Cup, in addition to the circle culture, Generation Z people are more for self-pleasure than buying.

In addition, the future AA generation, the IP of this generation is the IP of the pan-generation, everything can be IP, they will not follow according to a certain person, a certain tradition, they will be because of a certain trainee, the entrepreneur has a very IP-based operation, the next era is the era when everything can be IP.

We summarize the expression of the IP of different people in these three eras, for the Y generation, IP is the topic of tea and drinking; for the post-95 people, IP is a social currency, a good way to communicate; for the AA generation, IP is their way to understand the world, but also their elements and methods to create a new world.

How do you turn ordinary intellectual property into a super cultural symbol? The core of the transformation of IP culture lies in the transformation of cultural cognition + the transformation of emotional carriers.

This sentence sounds like nonsense, but there is an example that can illustrate that the martial arts of the Jin Yong world and the superheroes of the Marvel Universe, the two series basically lasted for a long time in the same era to construct two big story empires, due to the change of the communication carrier, due to the change of the entire content, we see that it is regrettable that the content of Jin Yong's martial arts is basically still in the form of film and television dramas in the minds of the 70s, 80s and 90s. The overall planning of the Marvel Universe, in addition to the changes in the communication chain, including live-action, entertainment, comics, and movies, also continues to expand through the unified management of IP, blossoming everywhere.

This is the whole process of change, sometimes we have content, but also need a carrier as a change.

Speaking of which, we would like to say what is the relationship between IP and business, and what can be interacted with? I want to take a more common shopping center for example, today's shopping center has been separated from the original simple shopping, eating, consumption of the place, has now changed from eating and shopping to social, people gather in the public space, but how to turn our own shopping center into a unique, let our group come to this place, in addition to space, but also need to have a very strong IP blessing, to achieve a personal empathy and social and cultural consensus of the point, so that consumers feel that this commercial space is what I want to go, I went here very honored, very proud, but also let the corresponding consumer groups, the same IP culture to know the people gathered together to consume, manufacturers from the previous consumption, eating and public space into the inevitable place in life.

How to create such a process, we analyzed it, divided into three stages: drainage, empathy and integration.

How to drain? Through the creation of a visual base, I do some theme exhibitions, corresponding plans, the corresponding target groups to lead here, as the first stage of drainage, in the drainage of more IP as a scene to create a network red photo punch function; the second stage needs to create a scene of the scene, the need for immersive scene to create, the common Wen and friends, including this year's Henan Zhengzhou drama magic city drama, more is a full range of scenes, let people here very at ease to stay down, there are scene-based needs, At the same time, the empowerment of cultural values opens up the emotions of consumers, which is the second stage, the stage of empathy. The third stage, back to the Disney model, the integration stage, I am a Disney lifestyle that can be seen and played and bought, which has "mother powder", a circle layer, a phenomenon-level hot IP, eating, drinking, living and traveling, solving the needs of an old and small family, the elements printed in the consumer DNA, these three models are the ordinary business into a project with commercial temperature.

So, if I summarize the role of IP in commercial real estate, this sentence is very important, that is, "culture is the soul of IP and business, and emotion is the value of IP and business." ”

How to say it, a different commercial project, can form a feature through its own commercial architectural aesthetics, and at the same time, with this architectural aesthetic plus the tone of culture can become its own IP, there is no need to find other IP cooperation, we think about Beijing, some commercial projects with architectural aesthetics, commercial projects with cultural rhythms, there are around.

If we reflect on a problem, today we are involved in a real estate development project, if we think about how to build a house and what the mall looks like, I think that when this mall is developing in the long run, the project will be somewhat limited in the long-term development, because you have not thought about what kind of cultural IP products the mall has become, and the road is slightly narrower.

What is the future business like on this basis, and what is the combination of cultural IP and business in the future? There is a lot of room for reverie and unlimited possibilities, including the blessing of technology and meta-universes and the entry of an emerging generation of consumers into the market.

At the end of the speech, our intellectual property rights are turned into super cultural symbols, and if the super cultural symbols have commercial carriers and commercial entrances, with the blessing of science and technology and the blessing of "new human beings", they can finally become a "mental asset, which is the core essence of the most sustainable development project of business."

IP has just emerged in China, a large number of IP introduced into the market, a large number of people engaged in this market, the development of new technologies and the Z generation and AA generation of IP investment, the future of IP has a very great possibility, wait and see with you to witness the arrival of this era, thank you!