"The era of big data and cloud computing is here. Don't take your head when you are a brand, you must analyze the data accurately."
——Gao Dekang, Chairman and President of Bosideng Board of Directors
In the Year of the Boxer Rat, the beginning of the "epidemic" was caught off guard, and the clothing industry stood at the center of the storm: offline physical stores and foreign trade factories orders plummeted...In the first quarter of 2020, the "king of jeans" Jeanswest Australia went into bankruptcy and liquidation Burberry, Nike, etc. closed half of its stores in mainland China, Vans’ parent company closed 60% of its stores in China, Prada, Moncler, etc. closed some domestic stores, many brands sadly withdrew from Paris Fashion Week...Big brands shivered, small brands pressed Press the pause button.
2020 seems to be the most difficult year for the apparel industry in the past 10 years. From January to November 2020, there are 13,317 enterprises above designated size in China's apparel industry, with a cumulative operating income of 1,212,683 million yuan, a year-on-year decrease of 12.35%.
However, "retrogrades" are still seen in the "winter economy". Brands are shifting from offline to online marketing, such as e-commerce, social networks, DTC, etc., Peacebird women's clothing is actively deploying "digital retail", with an average daily sales of over 8 million; Li Ning has a cumulative increase of 115% last year and its market value Breaking through the 120 billion mark, hitting a record high; Bosideng enjoyed strong growth momentum in the first three quarters, and was also given a “Outperform Industry†rating by CICC. Double 12 sales volume increased strongly by 42%, and single store sales at Tmall flagship store Liang has been the champion of Chinese clothing brand and firmly sits at the top of the national brand clothing list.
The big waves wash away the sand, and the "leftover" is king! These clothing brands gave everyone a reassurance. The epidemic is like a big test. With the hard power of fighting, the stronger the company's "moat" is, the more it will be able to cope with the crisis. But freezing three feet is not a day's cold, how should companies make forward-looking layouts? As the leader of the down jacket brand-Bosideng, may give a reference answer.
One of the "moats": brand is sail, marketing is boat
Just like "I owe "Ling Chen Fen Hui Nuo Valiant", "I owe Bosideng a down jacket", the phrase expresses the brand's penetrating power and influence.
As an important part of an enterprise's intangible assets, brands continue to create commercial value. According to research conducted by professional institutions, Bosideng has a brand awareness of 97% among consumers and is the first brand of down jackets in the hearts of Chinese consumers. Adhering to the mission of "warming the world", Bosideng leads the industry to "go global". According to the "2019 Overseas Market Research White Paper" released by Tmall Overseas and CBNData, Bosideng is the best-selling domestic down jacket brand in the United States.
Picture from "China Net"
Channel investment and brand are like a pair of interdependent "twins". The brand cannot go out, channel investment is even more difficult, and sales are even more difficult to talk about. "Traffic gains the world". Bosideng's brand spillover effect is significant: In 2019, the sales volume of the down apparel industry (Tmall & Taobao) was approximately 22.3 billion yuan. Even with a year-on-year decline of approximately 13% in 2018, Bosideng down apparel sales continued to grow against the trend to 2.13 billion yuan, an increase of 33% year-on-year and the industry share It accounts for close to 10%. At the same time, the effectiveness of the parent brand drove the rapid development of its sub-brands. The sales of "Snow Flying" down jackets in 2019 increased by 273% year-on-year, and their market share increased by 1.2 percentage points.
"Moat" 2: E-commerce layout, data empowerment
Bosideng has been in the leading position in the industry for a long time. In addition to the continuous upgrading of the brand in terms of products and channels, its "new data technology" is also a key point. Gao Dekang, chairman and president of Bosideng, said on many occasions, “The era of big data and cloud computing is here. Don’t be a brand but you must analyze the data accurately.â€
Digitization and Internetization have profoundly changed people's consumption habits. Clothing is one of the traditional industries with the highest degree of involvement in the Internet. In 2018, e-commerce platforms have become the most important sales channel for down jacket consumption. Data shows that the sales share of e-commerce channels was 42% that year. According to a survey conducted by the 2019 Prospective Industry Research Institute, 76.9% of consumers in China purchase clothing online. Now the epidemic is even more obvious: “digitalization + new retail†has opened up around the corner, and “live streaming with goods†has become popular almost overnight. In order to grab the spotlight, the apparel industry's e-commerce layout has entered the "turning point period" of the digital economy.
There is already a position, how to defend it? When the market competition has entered the fierce stage, product quality is not much different. The bottom card of major brands' competition is to test the "kind relationship" with users, and establish a "zero distance" with users. It seems invisible, In fact, the deep meaning is hidden. Only by continuously providing the most satisfactory products and services, users will give the company the best benefit feedback.
Focusing on the terminal links that users set out to lay out the business value chain, Bosideng successfully occupied the e-commerce platform in 2018, and joined hands with Midea Group's Miyun Smart Data to reach an e-commerce Internet big data project cooperation, intensively cultivate Internet big data, and collect online The sales volume, price, type and user comment information of mainstream e-commerce websites provide one-stop visual analysis for marketing, research and development and other departments, including industry overview, brand strategists, product consultants, store operations, word-of-mouth analysis, and e-commerce consultants. Summarize in one sentence, use "new data technology" to narrow the distance with consumers' hearts.
"Moat" III: Military Division Alliance, Big Data Controls the Overall Situation
Miyun Smart Data Internet big data condenses the Internet data application practices of 60+ leading companies in various industries, covering more than 10,000+ Internet platforms. Starting from the brand, it can timely, comprehensively and clearly grasp the business performance and product market layout, and provide in-depth insights into the user’s brand , Product and service experience, find the user's core concerns and corporate weaknesses, point out the direction for product development and service improvement, comparable to the "military division" of enterprise operations, and help Bosideng play a good overall "game of chess."
➤ Master the overall situation: Internet big data insights into the overall situation of e-commerce sales
For Bosideng, the Miyun big data platform is like a "command center", multi-functional display industry data graphs, timely grasp of average price, sales volume, sales volume, year-on-year changes, market share, quickly understand industry trends, promote product promotion, and improve market share. Throughout 2019, the sales scale of down jackets on the Bosideng Tmall platform was approximately 2.1 billion, ranking first in industry sales and second in sales.
➤ Confidant: use data as a "guide" to enter the mid-to-high price segment
In 2018, foreign high-end down jackets such as "Canada Goose" quickly became popular in China, occupying a benchmark position in one fell swoop. For a time, the domestic market was full of turmoil. With years of branding, Bosideng finally played its own rhythm, targeting the market above 2,000 yuan, digging into the mid-to-high-end market, and increasing its share from 7% in 2018 to 19% in 2019. Bosideng's name is clearly on the paper as the leading "domestic down jacket" enterprise.
As Mr. Gao said, brands do not come from scratching their heads. The adjustment logic behind the mid-to-high-end market benefits from big data technology: Based on 2018 sales data, Meiyun Big Data uses algorithmic analysis and positioning to gain insight into the price range above 2,000 yuan. There is only "Canada Goose" as a head brand, which means that it is a latent incremental market. Bosideng immediately used marketing methods such as "designer co-branded models" and fashion weeks to enhance the brand image and quickly grab the high-end market.
➤ Re-operation: Two-wheel drive of "channel layout" and "operation control"
Competition in the apparel industry is fierce, and brands need to drive both “online channel layout†and “daily operation controlâ€. Bosideng uses big data platforms to seize online customer traffic, timely grasp the distribution of other brand channels, and flexibly adjust strategies. In 2019, we spared no effort in channel management and control of Tmall specialty stores, and maintained a leading sales volume. At the same time, we focused on the promotion and marketing of Tmall flagship stores to lead the industry.
In addition to the store layout, Bosideng also has a pair of "perspective eyes". Looking at the big data platform is like looking at the stock market every day. Other brand store promotions, new rhythms, sales, etc. have a "public" view.
US Cloud Big Data Platform Monitoring Express
In the post-epidemic era, how does the clothing industry show its charm in the Year of the Ox?
In the context of new retail, the trend of consumers' offline experience and online ordering is irreversible, constantly forcing the traditional model to withdraw from the stage of history. E-commerce platforms will be one of the main battlefields in the future, and the industry concentration will be further digitized. For companies that are transforming or accelerating their transformation, Bosideng continues to actively explore technical routes and adjust business models, which is of great reference.
In the post-epidemic era, how can the apparel industry show a good second half on the market runway? From the trends in recent years, it is not difficult to see that after each "disaster", companies that have actively embraced change have survived: after the SARS in 2003, JD’s "Nuggets" e-commerce platform, in 2017, after the "close shop tide" Li Ning Embarking on the road of "big stores"; after the impact of e-commerce in 2018, Hailan House cooperated with Tmall to upgrade "smart stores"...
Great power weapon, gentleman fake! Despite a long start in 2020, China's apparel e-commerce still has a promising future. In November 2020, the total retail sales of textiles and apparel across the country reached 149.7 billion yuan, a year-on-year increase of 4.6%. In addition, in the first half of this year, the e-commerce industry has experienced a spurt of growth. According to the research data of China's live broadcast e-commerce industry in June 2020, the number of live broadcast viewers and online shoppers reached 562 million and 749 million, with a penetration rate of 59.79% among netizens. Compared with 79.68%, young consumers' online shopping habits have gradually been cultivated. It is estimated that the total retail sales in 2021 will reach 406.44 billion yuan.
Picture from China Business Intelligence Network
With a population of 1.4 billion, China is the world's largest consumer and producer of clothing. Who will become the best "gold nugget" in the bandwidth of opportunity? How to change the world in 2021? Wait and see~
The above market observation
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