Wei Cotton CEO Lin Wei: About Socks Comfortable

Wei cotton CEO Lin Wei

"Comfortable thing".

Before choosing to start a business, Lin Wei did more than a year's thought and field research and visited potential suppliers or competitors in Yiwu, Guangzhou and Shanghai.

He believes that the current online shopping socks Market is facing two problems.

First, there may be goods wrong, low prices, poor quality; two, high quality, high price, high threshold for users to enter.

Lin Wei thought that if the price is lower than that of the cotton Republic, the quality will not be discounted, will there be many people who need it?

Lin Wei's ideas and entrepreneurial team hit it off.

Located in fast fashion, start with socks.

On the first day of sale, sales reached 100 orders, and online 8 days exceeded 1000 orders.

These figures surprised the cotton team.

"The sales volume is far beyond our imagination. Our expectation is that it will be 100 days in three months."

Besides quality, cotton also worked hard in packaging.

"Many people call our customer service and thank us for providing such a beautiful and tasteful box."

Lin Wei said, many users choose it as a gift, the price is not expensive and very warm.

"We do not want to be a gift market, but it has already carried the function of gift."

"People often neglect comfort, but in fact, people's need for comfort is unlimited, but the cost of comfort at present is a little high."

Lin Wei said socks and close fitting clothing have the opportunity to create a global website.

The socks of the world 70%-80% are all originated from China. The socks of the same quality, the United States has to sell for about 30 yuan, and many domestic shopping malls are even more expensive.

The price of cotton is only 12 yuan.

One hundred and eleven

Cut in close fitting clothes from socks

In vertical e-commerce, or has formed such a pattern, buy electronic products to the Jingdong, buy books to be Dangdang, buy bags to wheat bags, Lin Wei hopes that users will buy close fitting clothing to VCOTTON cotton.

Why do you choose socks?

Lin Wei believes that, first of all, socks are clothing, in the Internet field, we all accept the basic necessities of life, clothing is a big Internet market, user acceptance is high.

Second, the market demand is large. Socks are the products that everyone must have. There is no boundary, no big or medium size code, and the entry threshold is low enough.

It is understood that China's personal clothing market size about 100000000000, the size of the socks Market about 20000000000, and the Internet socks market only tens of millions of scale, there is still enough room for the market.

High quality, low gross profit: cost price only.

Lin Wei said, at present, the gross profit margin of cotton is very low, it is only cost price.

"At the stage of creating brand, we should first let users enjoy good quality socks, and user experience is the first priority. Let consumers know at the lowest cost that we are the only path to fast development of cotton."

Lin Weiding's mission this year is to rush into the second army of e-commerce.

He hopes that in the next 18 months, orders can reach 3000-5000 orders, and will be profitable in three years.

The first battle: Christmas War

From December 5th to January 10th, it is the "Christmas month" of the "cotton Christmas campaign". "This Christmas campaign is a great battle for our new company."

Lin Wei said.

It is understood that the cotton will launch Christmas discount activities, two fold.

Lin Wei's request to the team is to attack the 300-500 single day, and to detonate the market of socks Market through product quality and pricing.

Advantage of backwardness: step on the shoulders of giants.

Wei cotton is not the first to enter the stocking market, and all customers, Taobao and so on have socks.

Lin Wei believes that socks are perfect for other shopping malls only. They can not be single-minded and involve users' cognitive problems.

"We are stepping on the shoulders of giants, and the latter can be more efficient and more accurate in terms of user needs."

He believes that all customers, such as Mcglaughlin and other predecessors, have laid a good foundation for the e-commerce industry and opened up a road.

First, the understanding of Internet users' consumption behavior.

Predecessors have solidified the market tools, and summed up many experiences and lessons. Through the absorption and learning of these experiences and lessons, cotton began to understand how users purchase and what users need.

Second, the recognition of e-commerce business mode.

Ten years ago, e-commerce was still stuck in the concept. Many predecessors groped for today, and have already found the approved business mode.

Third, consumer recognition of Internet shopping.

Data show that at present, the size of the domestic online shopping market has increased by an average of 80% per year, and the average annual growth rate of online shopping users is 30%.

Facing challenges

At the same time, Lin Wei realized that as a start-up company, there are now more than a dozen people and are facing challenges in terms of resources.

First, the challenge of talent resources.

In the face of fierce competition in the market, only by finding good talents can we ensure rapid growth.

Lin Wei said the next step of the company's focus is to increase staff to match the pace of integration of the Internet.

"The company is looking for a new office address. We are in a vacant position. We welcome those who wish to join us."

Second, the challenge of marketing resources.

E-commerce companies have invested a lot of money and set up a marketing threshold.

At the same time, the ways and channels of marketing are homogenized.

Such as portal advertising, word of mouth marketing, search engine and so on, each module can find successful cases, such as objects, offline mass advertising.

Lin Wei said that these methods will be used by cotton, but the key is how to arrange and achieve the best results.

Because of the importance of product quality, it is difficult to display solely by advertising pictures.

He said that the marketing method suitable for personal clothing is still under exploration.

Through micro blogging word of mouth marketing

In December 1st, Sina micro-blog crashed for 4 hours.

This has resulted in a decline of 1/3 in user registration and independent visits.

Micro-blog has become an important marketing way for cotton.

"Micro-blog is a very good platform from mouth to mouth.

Many users will get the package and shoot it on micro-blog to show it.

So far, there are no personal products that have brought such a great surprise to people.

It's an unspeakable strong feeling. "

When it comes to socks, Lin Wei is always excited.

Lin Wei analysis, when a certain user base feel the quality of products, will spread word of mouth, the next marketing will have a relatively low cost.

Later, without the large market cost, the same order can be obtained, thus reducing the cost.

In the existing users, cotton has formed a good reputation.

It is suggested that users should make an order replication function and share their stockings order with their friends, thereby eliminating the need to re select links.

It is very difficult for a user to recommend a product to the surrounding people and facilitate the purchase behavior, that is, "successful recommendation".

Lin Wei said that the success rate of cotton recommendation was very high, averaging 30%. "Cotton is easy to recommend successfully, which also provides us with a good train of thought for the next step of marketing."

Through investigation, he found that the price, quality and overall feeling of cotton socks are very suitable for word of mouth.

Operation is the core competitiveness

Lin Wei believes that the real core competitiveness lies not in the commodity itself, but in the operation, which lies in the deeper understanding of goods and users.

"Public goods, do not emphasize the advantages of commodities, commodities have advantages for competitors, but also for users to use threshold."

Lin Wei said that the quality of cotton is higher than most of the products on the market.

"If there are identical products on the market, we will win by operation.

The core of the operation is to constantly find users' subtle needs, and to meet users' psychological and physiological needs in an all-round way, so as to raise the threshold of operation.

"When you can meet 200 users' needs, they must be different from their competitors, and these 200 needs are accumulated in continuous operation."

E-commerce has just begun

Lin Wei said that e-commerce has just begun.

Nowadays, many traditional enterprises still regard e-business as a marketing channel rather than a big marketing platform.

In his view, 2000 is the embryonic stage of China's e-commerce. 2010 is the first year of the year. It is a milestone. It is the beginning of the new business model, the pformation of China's entire social industrial structure, and the foundation of the business model for the next ten to twenty years.

"Many traditional businesses took 20 years to form business models, such as foreign trade, to obtain foreign orders with cost advantages.

In 2010, the old business model was challenged due to the economic crisis.

To expand domestic demand, we must create from China to China, and e-commerce is a very important tool.

Lin Wei said.

Therefore, 2010 will be the beginning of the new business model. The future must be "entity + Internet". The existing high cost plus low cost will make a convergence in the next 5 to 10 years and create a new business format.

"In this process, we must take part in it. Otherwise, even now it is very man, but in the next ten years, it must be outman."

In the Chinese e-commerce market, Taobao occupies 80% of the market share.

"China's e-commerce should not be the only one of Taobao. When the Taobao share is only 40%, it will be the maturity of e-commerce."

In terms of independent brands, CEO, a vintage product, has said that this year's sales volume is expected to reach 2 billion yuan, but 100 billion is the dream that everyone should have.

Lin Wei said that in accordance with the calculation of the past, all customers will grow 50 times. In this process, there is still much room for development of independent brands such as cotton.

The second stage of e-commerce: quality competition

Lin Wei said that in the first stage of e-commerce, price driving has become the first choice of online shopping.

Under such circumstances, many Internet traders, in order to pursue price impact, product Jerry building.

In the second stage of e-commerce, Lin Wei calls it electronic commerce 2. It has the following characteristics: first, the value of commodities will really return, better than traditional products and lower prices.

Second, the Internet will become more and more closely integrated with traditional business standards.

"In the 2 stage of e-commerce, products have the quality of traditional industries, but they use the Internet marketing platform.

In the face of the national market, the traditional brands have to open 1000 stores, with 1000 management systems and employees.

For us, 24 hours without closing, and no shop assistants, just like group buying, the aggregation of purchase information and release on the Internet platform is the real reason for the cost reduction.

Fans of fans

On many occasions, Lin Wei has said that he is a fan of all customers.

"Three years, the growth rate is the highest in the industry.

While constantly raising funds and expanding the organizational structure, we can finish the task beautifully. This is the result of continuous difficult actions.

In the past three years, we have accomplished very good corporate development values and cultural values.

"In three years, the team from 10 to 4000 people, the amount of financing from several million to 100 million U.S. dollars, orders from 0 to fifty thousand single......"

Lin Wei is very clear about these data, "the development objective of every guest grows geometrically, it is awesome."

"All customers have made outstanding contributions to the development of the industry as a whole.

And detonated at the time point of the detonation. "

Different from fans.

All customers focus on fashion and price.

Lin Wei said that the emphasis is on product quality and price.

China's e-commerce market has really entered the fast track of high quality and cost-effective.