Where Is The Spring Of Luxury Goods "Nail Households"?

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Slow march

Fashion nail traders will also start selling core products on the Internet. At present, high-end watches and jewelry brands still believe that consumers will not spend money on hard luxury before they can actually touch and feel the products themselves.

But the electricity supplier is still one of the few growth points in the stagnant luxury market, and there are signs that attitudes are changing.

"In the field of" hard luxury ", this is still one of the most important topics at present.

We see that 9% of luxury sales come from online channels, but for hard goods, only 4% or 4.5%, which also includes jewelry, jewelry is much larger than watch business. "Rene Weber, a senior watch industry analyst at Swiss bank Vontobel, said:" but if you want to buy real high-end watches online, this is basically not.

Many brands started last year, such as Net-a-Porter and the first brand on their own website, but this is just a starting point.

According to the world clothing and shoe net, some luxury watches brands still believe that e-business is easy to nourish counterfeit goods or unauthorized sellers. These "gray market" sellers buy goods that are difficult to discount from authorized dealers.

Hard luxury, especially watch brand, is heavily dependent on wholesale business, and the business facing consumers is relatively small, though the latter has higher profit margins and better control of customer experience quality.

The British watchmaker's treasure list (Bremont) was first sold in 2013 for the first time on the Mr Porter watch of menswear website of YNAP group (Yoox Net-a-Porter), but the watchmaker also had only 4 self owned boutique stores, while authorized dealers reached 185.

"It is important decisions to replace these wholesalers.

We feel that our wholesale customers are doing very well, and I do not want to compete with them online to some extent, "said Giles English, co-founder of the treasure list." but in the end, it comes back to a question: you want to give your customers what they want -- but through what channel? If they want to buy products directly from your website, you should provide website purchase channels.

I think many brands will start to do this in the end.

But we are also watching to see what measures the big brands will take.

Indeed, Rolex, Rolex and other well-known brands of wrist watch industry have extensive wholesale networks, but there is still no direct online sale.

There are also other brands, such as the luxury luxury watch brand Richemont IWC, which sold products on Net-a-Porter and Mr Porter in November last year, but still did not set up its own direct Schaffhausen business.

Li Feng is also the largest investor of YNAP group. Currently, it is testing the brand of its brand by Net-a-Porter, Mr Porter and many other websites, including the advanced watch manufacturer, Panerai and the Earl of jewelry brand (Piaget).

"Until now, we are all very interested and sales are very good," said Angelo Bonati, chief executive of nannai, referring to the first online product: 25 watches sold in Mr Porter. "In the digital field, the international market is now facing a new era, and the e-business platform is growing rapidly and constantly building up its reputation."

High end services have become the key to attracting YNAP, Jingdong and other online retailers.

YNAP group never concealed its goal and ambition in developing high-end luxury market: before 2020, jewelry and watch revenue is expected to exceed 100 million euros (about 116 million dollars) target.

For all brands, the attraction of cooperation with these providers is from the high net worth customers they attract, of which only 2% of the customers contribute 40% of the revenue, and the ability of these websites to deliver "white glove services" such as express logistics and private shopping guide.

Earlier this year, Chopard, a luxury jeweller, chose to open its first electricity supplier store in the Chinese market at Jingdong, employing qualified couriers and driving electric vehicles to deliver the goods within hours.

Chopin, general manager of China Tasso von Berlepsch, said that the move would "enable young customers who like online shopping to have a better understanding of Chopin".

By contrast, jewelry brands embrace online sales more quickly and give priority to opening their own websites.

In 2010, Cartire (Cartier) launched the electricity business in the United States; in 2012, Chopin followed closely; and since 2000, Tiffany (Tiffany) has been selling online, although the US online sales of jewellery brands have not increased in the past 3 years and remain at about 6% of net sales.

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Philippe Galti e, senior vice president of global sales, said: "although we find that more and more customers start their shopping journey online, most customers eventually need to acquire luxury shopping experience, hoping that knowledgeable sales professionals can guide them."

Bain consulting (Bain & Company) said that even for the millennial generation of regular online shopping, department stores are the most popular channel for buying diamond jewelry, followed by independent stores, multi brand chain stores, and then e-commerce.

Olya Linde, partner of Bain consulting, said, "buying diamond jewelry is still a very emotional process and involves a lot of personal feelings and stories."

Electricity providers are popular with low-priced products, but analysts think this is changing.

Boodles, the British jewellery brand, said that the average selling price of online products was about 1000 pounds 5 years ago, and now it has risen to 3000 pounds.

But offline experience is still crucial.

James Amos, director of marketing at Boodles, said, "for employees, meeting real interest customers in the store can start to understand them. This experience can always exceed the excitement that electricity providers can bring to you, because this is the establishment of a real relationship."

Boodles's annual sales volume is about 70 million euros, only slightly more than 1% of the figure comes from e-commerce. Amos said that the proportion will reach 2% to 3%.

Although not all brands are embracing the electricity supplier enthusiastically, many brands have begun to label product prices, purchase stores, interact with users and brand customer service through real-time chat and social media.

Weber, Vontobel's Weber, said that the most high-end brands in the watch and jewellery market may never enter online shopping, but by the year 2025, the business will contribute 20% of the total sales of luxury goods.

"Customers who want to buy watches worth 100 thousand Swiss francs may not choose to buy online.

But now we can see more products directly on the Internet, and we will see more websites that can be traded.

We are slowly seeing changes in this industry. "

More interesting reports, please pay attention to the world clothing shoes and hats net.