Recently, the 2024 SPME Shanghai International Property Expo was successfully held. Mr. Xu Zhuoli, Chairman of COOKTIME Storage, was invited to attend the '2024 Property Industry Diversified Operations Development Forum' and delivered a keynote speech titled 'Micro Renovations in Storage: Empowering Property Value-Added Services.' He discussed how kitchen storage renovations can enhance diversified operations in the property sector amid the rising demand for renovations in the existing housing market.
Since 2023, the scale of China's home renovation market has surpassed 3 trillion yuan. Due to declining sales and delivery areas, the new home renovation market has shrunk. However, as the age of housing stock increases, demand for renovations in existing homes remains strong, especially for partial renovations of functional spaces like kitchens and bathrooms. At the same time, the era of relying solely on property management fees for income is over. Many property companies are now exploring value-added community services. With extensive user resources and the ability to maintain frequent, long-term interactions, effective collaboration with the home renovation industry is a crucial way for both parties to overcome development bottlenecks and meet market demand.
Currently, the collaboration between kitchen-focused renovations of existing homes and property companies is still in the exploratory stage. At the event, Mr. Xu outlined the business cooperation logic for the attendees. Addressing the needs and living experiences of residents in managed communities, COOKTIME Storage's planning team and property management team jointly developed a preliminary plan. Property personnel are trained as seed storage planners to leverage their proximity advantage, identify potential customer needs, and achieve user growth through a combination of online and offline marketing strategies.
Enabling Effective Collaboration for Brand Expansion
The cross-industry collaboration between property management companies and home renovation enterprises, represented by COOKTIME, focuses on partial renovation services, such as kitchen remodeling, which offers significant growth potential. This strategy allows property management companies to increase business density and penetration rates, leading to substantial revenue growth in the renovation market. In the long term, targeted expansion of community value-added services can effectively enhance customer satisfaction and increase homeowner repurchase rates.
Regarding kitchen renovations, the strong relationship between property management and community residents facilitates the conversion of potential customers. The endorsement by property management significantly boosts customers' trust and satisfaction with the brand. Rooted in the community, professionally trained seed planners can respond promptly to customer needs and quickly address after-sales issues, further increasing customer loyalty and empowering brand market expansion.
Meeting User Needs to Enhance Quality of Life
The event received an enthusiastic response. In addressing questions from the audience, Mr. Xu stated that in the era of existing housing, COOKTIME focuses on user needs by providing customized kitchen storage solutions. Their professional services effectively address users' spatial organization issues, enhancing comfort and satisfaction. The increasing industry attention underscores COOKTIME's leading position in the market. COOKTIME remains committed to its original mission, upholding social responsibility, and maintaining a user-centered, product-driven approach. They continually innovate to provide high-quality services and products, empowering a better quality of life.
