It is true that the customer unit price is getting higher and higher.
Editor’s note: This “red funnel” from the micro-channel public number (ID: hongloudou) , of: < span style="letter-spacing: 0px;">Zhang Chenxi,Editor: Zhong Rui,Design: Zhuang Congting,released with authorization.
At 00:30 on November 1, the first wave of double 11 pre-sales began to pay the final payment. Are you okay with the final payment when the deposit was placed?
My heart is cold, it’s okay. The Bosideng down jacket in the order can help you “warm up”.
According to ECdataway data, the first wave of pre-sales (October 21 to October 31) at Bosideng’s flagship store on Tmall exceeded 250 million yuan in sales, becoming the number one in both men’s and women’s clothing on Tmall. The figure of 250 million means that Bosideng only spent 10 days this year and surpassed last year’s total sales of 22 days during 11.11-160 million.
The CBNData consumer station found that Xuezhongfei, a mid-range down jacket brand that also belongs to the Bosideng Group, is “unknown” on Tmall’s list, but silently in Douyin, Kaishou and other platforms dominate the rankings. Has Bosideng’s multi-brand strategy succeeded when one tried to benchmark the Canadian Goose and one to attack low-tier cities?
Signing with Yang Mi, Chen Weiting and Li Jiaqi’s live broadcast, Bosideng’s “high-end” road
After entering October, Bosideng’s stock price has risen all the way, with a maximum increase of over 44%.Seasonality has a lot to do with it, especially this year the north also ushered in a rare big drop in temperature. Various brand-related market actions have also started in October.
On October 9, Bosideng and Yang Mi renewed their contract. One day later, they officially announced the signing of William Chan, giving them the same title as Yang Mi: Spokesperson of the Bosideng Designer Series; on October 28, Bosideng released the Gaultier co-branded model. ; On October 20 and November 2, Bosideng entered Li Jiaqi’s live broadcast twice. On November 3, Bosideng collaborated with another head anchor, Sydney.
Enter the Bosideng Tmall flagship store, the top of the homepage is Li Jiaqi’s live broadcast preview, and the bottom is the carousel endorsed by Yang Mi and Chen Weiting. With a celebrity card in one hand and an anchor card in the other, Bosideng wanted nothing more than a double guarantee of volume and sales.
Bosideng Tmall flagship store homepage (November 2)
Two celebrity spokespersons are responsible for Bosideng’s different brand characteristics and users who want to reach.
According to CBNData star data, in the comprehensive list of celebrity consumption influence from July to September this year, Yang Mi’s composite index ranked 3rd, ranked 1st among all female celebrities, and ranked 1st in influence of women’s clothing category. With considerable popularity and a certain ability to carry goods, Yang Mi fits the “national route” that Bosideng wants to take.
Picture comes from CBNData Stars
William Chan’s ranking is only 72 in the overall list, but it has increased significantly by 27 compared to the previous quarter. In the menswear category, William Chan’s influence ranks 6th, followed by Shawn Yue and Edison Chen, who are typical Chinese and Hong Kong trend artists.
Picture comes from CBNData Stars
Being a fashion brand, being a guest of trendy variety shows, and following the trend line, William Chan meets the other side of Bosideng’s desire to enhance the brand image and increase the demand for fashion and novelty. For example, a customized Gaultier show (Paris Snow Night) is not something that ordinary male stars “dare” to wear.
Cooperating with the head anchor represented by Li Jiaqi is an important guarantee for the integration of Bosideng’s online marketing products.
On October 20th, Li Jiaqi’s live broadcast studio started selling Bosideng’s extreme cold down jacket. “Buy an extremely cold down jacket and get a thin down jacket.” In Li Jiaqi’s live broadcast room, men’s models are 1,499 yuan (tag price of 2,060 yuan) and women’s models are 1,299 yuan (tag price of 1,699 yuan), both of which are better than Bosideng’s flagship store on Tmall. The price of the Double 11 event is about 100 yuan lower, and an extra thin model with random colors will be given.
A screenshot of Li Jiaqi’s live broadcast on October 20
According to Bosideng’s definition, these two down jackets belong to the high- and medium-priced tag prices respectively. More high-end designer joint models are generally priced around 3,000 yuan.
In the previous 2019-2020 financial report, Bosideng’s online marketing section mentioned the importance of live broadcast. Li Jiaqi was included in Bosdon’s financial report as a case. According to the financial report, on the Super Brand Day in December last year, Li Jiaqi brought a single game of 6 million yuan to Bosideng.
Strike on Douyin Kuaishou, Bosideng and Xuezhongfei have different strategies
From September to October this year, Bosideng was also shakingA large number of live broadcasts are released, not only with head anchors such as Luo Yonghao, but also a lot of vertical anchors, such as Oujier, Zhang Huo, etc. who have recently gained momentum.
Xiao Hulu data shows that on October 22, Oujier’s Bosideng special sales reached 2608 Ten thousand yuan. Among them, Yang Mi’s workwear-style down jacket with a price of 1259 yuan was the best-selling in this market, with a single product sold for nearly 4 million yuan.
Through the same celebrity and high-end brand marketing strategy, Bosideng can also sell high prices in the Douyin live broadcast room.
Ou Jier Bosideng special live broadcast preview video screenshot
Unlike Bosideng, Xuezhongfei, which is positioned as the “mid-end”, chose the fast hand with relatively low customer unit price but higher user loyalty. According to Xiao Hulu data, in the last 30 days (October 3rd-November 1st), Xuezhongfei has occupied the second place in the best-selling men’s and women’s clothing brands, with 55 talents and 100 live broadcasts bringing more than 31 million yuan to the brand. Live sales.
Picture from Xiaohulu
If Li Jiaqi is responsible for Bosideng’s brand on Taobao, then Kuaishou celebrity Yu is the number one contributor to the snow.
From October 3rd to November 1st, Grand Master Yu started broadcasting almost daily. The number of goods with goods including Flying in the Snow reached 12, and the accumulated goods for Flying in the Snow exceeded 18 million yuan. On October 11, a men’s down jacket flying in the snow became a best-selling product in the live broadcast room of Mr. Yu, with a total of nearly 8 million sold, and its price was “only” 189 yuan.
Picture is from Xiaohulu
Bosideng focuses on the high-end, and flies to the middle-end route in the snow. This is the positioning of the two brands of Bosideng’s financial report. In the past fiscal year, Bosideng expanded its stores significantly, increasing by 367, while Xuezhongfei’s offline stores were slightly reduced (3). Offline, Xuezhongfei went deep into third- and fourth-tier cities with better economies, and took the sinking route relatively cautiously, but the brand focused on the establishment of online distribution business. The financial report disclosed that Xuezhongfei’s sales rose 37.8% year-on-year.
Entering the official flagship store of Flying Cat in Snow, among the top 10 sales on 11.11, only one of the clothes cost more than 500 yuan, and all 6 clothes are below 200 yuan. For Xuezhongfei, switching to online channels and embracing live broadcast is one reason why Xuezhongfei’s price cannot maintain the “mid-end” it should have.
Snow Flying Cat flagship store sales ranking (as of November 2)
But from the perspective of the final effect, it may be the right choice for Xuezhongfei if it is not for the mid-range, but for the volume. The 2019-2020 Bosideng financial report disclosed that down jacket revenue accounted for 78%. In the down apparel category, Bosideng is able to take the lead, accounting for 88% of revenue, and Xuezhongfei’s revenue accounting for only 5.2%.
Has Bosideng’s high-end operations succeeded?
In the past fiscal year, Bosideng’s theme was: raising prices.
Bosideng placed great emphasis on brand upgrades in the financial report: strengthening brand design, launching IPThe price is above 5,000 yuan, and the most expensive item is inspired by Mount Everest, and the price is more than 10,000 yuan, but after the product was launched, it caused controversy.
Nowadays, they mostly appear in the reports of the mountaineering team, “to protect the mountaineering warriors”. At present, the Bosideng Tmall flagship store has not checked this series. Only Bosideng authorized third-party distributors Taobao stores and some offline stores can buy it.
Bosideng summit series, inspired by Mount Everest
With the new growth point of live broadcasting, the positioning of mid-to-high-end (1201 yuan-1800 yuan) is obviously more competitive. In the domestic down jacket market, Bosideng has instead filled the high-end vacancy.
The market response is now overwhelmingly positive. On September 28, CICC adjusted Bosideng’s target price to 2.9 Hong Kong dollars. A month later, CICC raised it again to HK$3.9. On November 2, Bosideng’s share price rose by 2.36% that day to close at 3.47 Hong Kong dollars.
Can Bosideng’s stock price continue to rise? Maybe it won’t be clear until the entire Double 11 is over.