In today’s modern generation, social media already plays a significant role in the daily lives of millions of people all over the world. Especially in the fast developing country of China, the social media development is much more prominent. This country also raises plenty of high-end consumers who show frequent social media behavior.
On 11th April, Shanghai held a luxury retail and innovation summit. This summit brought forward the retail insights and market analysis of high-end consumers, to provide luxury brands with a better understanding of these new wealth upstarts.
During the summit, Nicole YANG, CEO of Secoo EEC Business and Group CMO, offered valuable insights about the online luxury buyers. With this, luxury brands can know how to improve their business in the best possible way. Secoo, the largest luxury e-commerce platform, revealed about the characteristics and the hobbies of luxury buyers which include age group, regional distribution, lifestyle, food, gaming, recreation, and entertainment.
With Tencent’s cooperation, Secoo analyzed consumers’ data and matched it with Tencent’s big data, to classify the luxury buyers with respect to gender and status. These include:
- Delicate piggy girls
- Trendy cool men
- New middle class
- New rich
The luxury buyers in Secoo are interested in virtual and real objects. Most of the upscale luxury buyers love to purchase luxury clothes and shoes. On the other hand, entry-level buyers begin from premium beauty products.
If brands in China want to reach a high level of sales, then they must develop essential social media marketing strategies. For instance, WeChat, the most popular social app of Tencent, launched mini program and moment ads, where brands can heavily promote products and services through different advertising types. With effective social media marketing to precise targeted audiences, luxury brands could expand their business in a fast and reliable way, without spending more time and budget as they did in the traditional advertising approach.
Secoo analyzed the shopping data under different scenarios during the summit. In the luxury white paper, brands could be properly guided on how to improve social media marketing techniques to make the most of its services. Secoo is committed to offering guidance for different high-end brands which conduct marketing campaigns to develop more alternative solutions to boost traffic.
Secoo also revealed that the online luxury buyers have a keen interest in categories like photography, shopping, personal care, makeup and more. Shoppers always want to stay on trend, hence the companies can benefit from offering only the most trending and in-demand products and services that can match to their particular needs.
By Nicole’s introduction, brands also acquired insights of high-end consumers’ needs and wants. For example, high-end consumers in China are interested in entertainment category like explanatory and exotic events about entertainment and food. They also love to watch or read emotional things that can relieve them of the pressure and daily stress.
Every customer has specific needs. It is therefore advisable for brands to offer products and services that will meet the needs and requirements of potential customers. With the fierce competition in the industry, companies must not be discouraged with competitors. Instead, brands can make this competition as a source of motivation to improve services further by establishing more innovative social media marketing with the help of Secoo in China to attract more targeted audience.
By using creativity and knowledge in the best way, luxury brands can achieve the goals, visions, and missions through better understanding of their consumers. Even more important, brands can also establish a good reputation in the industry and gain the trust of many consumers. Overall, social media marketing can be the best tool.
Amazon is Inviting More Sellers and Handicraft Groups through its Global Selling Programme
Amazon India has offered an invitation to sellers to list their products on its 12 marketplaces. After the success of its global seller program, Amazon is asking handcrafts and artisan bodies to sell their products for the export market. The success of Amazon’s seller program can be judged from the fact that its net sales value or cumulative GMS (gross merchandise sales) has touched $1 billion over the last three years.
Gopal Pillai, Vice-President, Seller Services, Amazon India said that there are expectations for the cumulative GMS to touch $5 billion by the year 2023. He said that those sellers who sell their products globally will witness five-fold growth in GMS. However, Pillai didn’t hint about the expected number of sellers that will be brought by e-tailer on board.
According to the data available, more than 50,000 sellers have joined global selling program. And through this program, products such as apparels, home decor items, power tools have been generating export interest. In addition to these products, Indian handicrafts and traditional art have also joined this list. All a seller needs to do is make his account popular. And in today’s time, where there are established eBay and Amazon Accounts for Sale, making the account popular is also not much of a difficult task anymore. Due to this, all these sellers are getting excellent value for their products.
Pillai said that Amazon India is trying to attract various artisan groups such as State government organization and cooperative bodies such as Tantuja (the supreme body of handloom weavers in West Bengal). Another one is the Jharkhand Silk Textile & Handicraft Development Corp. Currently, 15 government agencies, handicraft groups have joined the ‘Kala Haat‘ program of Amazon India. Out of these, a couple of groups such as Tantuja is selling their products overseas.
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