Look At Luxury Online Intentions From Social Networking

After the sale of handbags on WeChat, Hermes announced the opening of a limited store in the WeChat public number this year.

Once threatened never to set foot in the electricity supplier, luxury goods that absolutely valued the physical store experience have begun to turn online recently.

Consumption pattern change, market demand reverse luxury online.

Why did proud luxury goods go down to the line?

Chinese consumers' enthusiasm for luxury goods has made China's luxury market develop rapidly in recent years. But in the past long time, domestic consumers can only enjoy higher price than foreign luxury goods market, which leads consumers to rush to overseas to buy luxury goods.

However, in recent years, luxury brands have been cold in the world, and there have been negative growth in offline stores. Data show that in the short three months of 2016, the number of eight major luxury goods stores in the world has been closed to about 40. Among the world's top five hundred companies released this year, the list of luxury brands is only Dior, ranking 234Th.

By contrast, the purchasing power of Chinese consumers is increasing and luxury consumption is rising. Data show that the fastest growth in Asia last year was in Asian and European markets, of which China contributed 32% of luxury consumption.

To this end, the major luxury brands also pay more attention to the Chinese market, and regard China as the focus of globalization.

Although luxury brands have lowered the price of luxury goods in China in order to develop the luxury market in China, they have raised the price of overseas markets to keep the global prices flat, so that consumers who had gone overseas shopping returned to domestic consumption.

However, due to various reasons, the way of Chinese luxury goods is very difficult.

On the one hand, under the trend of consumption upgrading, many niche designer brands have also ushered in the opportunity to rise. Chinese consumers' consumption concept has gradually shifted from brand oriented consumption to product oriented consumption, and young consumers do not seek brands but pursue expensive ones.

Compared with a brand name, they care more about how to match, more personalized and comfortable, but the aging of many famous luxury brands has made Chinese consumers "luxury fatigue".

Compared with luxury goods, small and unique products are more popular among young consumers.

On the other hand, the biggest difference between China and many developed countries is that the electricity providers are very developed.

Luxury consumption is not only concentrated in the first and second tier cities, but also in the three or four tier cities.

There are many ways to buy luxury goods in first and second tier cities, but for the three or four tier cities, it is undoubtedly the best way to consume luxury goods through electricity providers.

In order to win the favor of Chinese young consumers and cater to the market, even if they are confident and full of luxury brands that do not need electronic commerce, they will have to start replacing core designers, and carefully try to implement e-commerce, or enter large business platforms such as Tmall, Jingdong or their respective official websites.

Nowadays, how to attract more consumers through online platforms has become the top concern of luxury brands.

Look at luxury online intentions from social networking

Tmall, Jingdong and other large e-commerce platforms and vip.com vertical e-commerce platform have entered many luxury brands, but it seems that more luxury brands have a special liking for social platforms.

According to the data, up to now, 92% of the 107 luxury brands entering the Chinese market have already opened WeChat accounts, 87% more than two years ago, and luxury brands such as Dior and Hermes have launched a limited number of panic buying activities.

Luxury goods choose the way of online social networking platform, which is related to the characteristics of luxury brand itself.

First of all, young consumers eat and buy entertainment habits through social networking to get information and share. An online survey also shows that 20.5% of respondents tend to understand new luxury products and trends through social media. All luxury brands can find user groups that match the brand from the social platform.

Coupled with luxury goods, it belongs to niche products. It pays great attention to service and precise delivery. The accuracy requirement even exceeds the flow rate, which requires high user matching. The acquaintance's social nature of WeChat and other platforms is very suitable for precise delivery.

Secondly, social networking platform is not a way to avoid KOL.

Data show that 68% of luxury brands push messages less than 5000 times, luxury marketing has to rely on information flow advertising and KOL.

In order to become more popular, luxury stars have launched domestic celebrities as spokesmen in recent years. Not long ago, Dior announced that Angelababy and Zhao Liying were the new spokesmen.

KOL and star endorsement effect is similar, Taobao sales of a certain star, the same type of merchandise sales are often exploding money, and KOL with its collocation aesthetics and personality lifestyle, in social media naturally gathered a large number of fans, fans for their recommended single product often have a high degree of acceptance, or even say where to buy.

The cooperation between luxury goods and KOL can stimulate consumers' purchase desire through KOL articles, and quickly drain to micro shop or public number.

After trying to spend, the rate of repeat buying of these fans is very high. According to the survey, 70% KOL fans had repeated purchases within 3 months.

Once again, luxury goods are actually consumed by feelings, with decades or even hundreds of years of history.

Pay great attention to the dissemination of brand connotation, which is the comprehensive electricity supplier can not be given.

Many luxury brands are also worried about setting up shop on Tmall, Jingdong and other comprehensive e-commerce providers, which will cause them to lose their right to operate independently. As with other commodities, they will fall into "vortex" and "discount" whirlpool. They worry that e-commerce platforms can not communicate directly with consumers, and services are not as good as offline, thereby affecting the loyalty of consumers to brand value.

The advantage of social platform is that luxury brands can cultivate users' recognition of brand connotation and brand loyalty through planning related activities and contents.

Finally, WeChat and Alipay, the two largest third party mobile payment tools, are almost indispensable. Data show that 200 million users have associated their bank cards with WeChat accounts, and 31% of them have bought through WeChat, and this number is still growing.

The rapid popularization of the third party mobile payment has made Chinese consumers gradually accepted and used to spend large amounts of money online and offline through mobile payment.

The luxury brand can be combined with the entity management through the interaction of WeChat and other social platforms, so that users can line up fitting clothes, and then buy from micro stores.

Social retail is still in its early stage. Luxury online is more difficult.

Despite the social and business functions of social networking platforms, social retail is not yet mature, and there are many shortcomings in the marketing of luxury goods relying on social platforms.

One disadvantage is that luxury goods want to find KOL that is consistent with brand tonal in social platform. It is not easy to bring precise users.

Take WeChat as an example, the number of public accounts is huge. According to the latest data, more than ten million, and KOL has a large number.

But the cost of KOL is high, and 69% of KOL marketing data are water. The effect is not directly proportional to the cost. The effect of luxury KOL marketing can not be guaranteed.

Two, in the fragmented era, consumers pay close attention to one thing for a long time. Moreover, the younger generation has a lot of media to acquire information, and its loyalty to the brand is not high.

Although KOL is helpful in improving sales volume, KOL fans are not fans of brands, but only pursue KOL's lifestyle. With consumer buying and buying, consumer loyalty to brands will gradually decrease from the trend of buying to the brand long-term consumers.

For example, a KOL on micro-blog is itself a fan of a brand. Most of the products in micro-blog are mostly based on the brand's clothing. Its matching concept enables other consumers to understand and even change the brand, so consumers will always follow the recommendation of KOL.

But if it's just big fans,

The effect of cooperation must be short-lived. After the end of cooperation, most fans will follow KOL to buy the next one.

Three, the luxury brand through the social platform and KOL marketing, showing luxury goods in the attempt to localization, to curry favor with domestic consumers attitude.

Luxury brands in order to promote the consumption frequency of domestic consumers, luxury products are consumer luxuries, with certain damage rates. Apart from the limited amount, there are few collections value or value-added space.

For this reason, there were consumers who made the ridicule of luxury goods by micro-blog: the goods that could only be worn once were luxury goods, and those with good quality were imitation products.

In addition, the consumer market has been tilted towards the buyer's market. The pursuit of KPI and luxuries that cater to consumers are tantamount to dragging themselves away from the altar.

Such a self descending identity, when the consumer groups expand, luxury attributes will inevitably change, no longer small, sophisticated, high-end, high-end luxury goods will eventually be different from the tide card.

The electricity supplier is just one of its functions, not the main function of the social platform, and the development space of the electronic business on the social platform is relatively small.

Although there are many luxury brands that try to sell online through social networking platforms, every luxury brand is just testing water on a small scale. The 80 special Valentine's Day handbags of Givenchy and the fashion blogger, Mr. Bao, are limited to WeChat.

It can be seen that luxury brands such as WeChat are on the social platform such as WeChat. They only carry out activities through the social platform to publicize the brand and cultivate loyal consumers. In the future, the luxury brands will have to learn more. Only after grasping the quintessence of the operation of the electricity supplier can they get considerable online benefits.

Data showed that sales of online brands in the three quarter of this year were rebounded, and the Hermes report showed a net profit of 11% in the first half of fiscal year.

The luxury brand tries to turn to online products, thanks to product innovation, global market price reduction, compensation marketing and so on. But the contribution to online is not known, so the prospect of developing online luxury goods is still uncertain.

But Jingdong is actively investing in luxury related projects, such as spending heavily on building luxury goods warehouses and possibly building luxury goods stations. It also shows that domestic electricity providers attach great importance to the cooperation with luxury brands.

The demand changes in the domestic market will accelerate the online promotion of luxury goods. In the future, with the increasing emphasis on luxury brands such as Jingdong, Tmall and WeChat, luxury online will become more and more popular. Luxury brands will also become a major force in the new retail reform.

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