Young People'S Pursuit Of "Freshness" Brings New Vitality To The Fashion Industry.

Chloe piggy bag, a more than 10000, when the fire broke out, Xiao Wang sent around to buy people from abroad.

It was a good time to miss the moon when it was not there. After that, it was a great care and love to put up with it. After a few months, it entered the "cold palace". It was crowded with offwhtie's protective clothing and Stuart Weitzman bandage shoes bought a few months ago.

The first two days, the BOF McKinsey Global Fashion Industry released a survey of young people's consumption habits. One of the data shows that compared to 15 years ago, the number of people buying clothes increased by 60%, but the life expectancy of each garment was only half of that in the past.

For a young girl, if a dress goes through one or two times, even if it is "old", 1/7's young British girl even thinks that being photographed wearing the same dress for two times is a very unseemly thing.

Girls change too fast, but this is not all bad.

Before rushing to "consumerism", you can see that the youngsters' ultimate pursuit of "freshness" is bringing new vitality to the fashion industry.

(1)

When Xu Wei, who was studying abroad, first sold his spare bag on eBay, the online shopping in China is in the ascendant.

In the booming overseas consumer market, she felt the charm of commodity circulation ahead of time.

In 2016, the Taobao Jingdong has grown into a monster. Ma Yun's second-hand electricity supplier "leisure fish" has quickly captured 200 million users after 2 years. Xu Wei has just left the Innovation workshop, and has changed from the investor to become an entrepreneur who has joined the "second-hand market".

A year later, Xu Wei's fashionable idle trading platform Plum was formally launched, and the unit price was about 1000 yuan.

Xu Wei is not a paragon of investment and excellence.

In her case, entrepreneurship is the "beginning", and investing is only a way and means to help understand the industry.

During her schooling, she captured the idle market generated by excessive consumption of new products from a user perspective.

Of course, this happened mainly overseas, with the eBay mentioned above, and the very mature charity shop under the line.

BBC has also produced a documentary to introduce the secret of old clothes. Every year 30 thousand tons of old clothes are shipped to Garner from charity shop in the UK, and local second-hand clothing wholesalers can earn 25000 pounds a day at most.

Finally, when the purchasing power and consumption desire of the Chinese people are gradually being irrigated into towering trees, a new shady place arises at the same time.

Taobao's product operation Chen Wei Ye found Alibaba CEO Zhang Yong, applied for internal entrepreneurship, in June 2014, the original "Taobao second-hand" renamed, Chen Wei Ye has a new title: leisure fish founder and CEO.

In November 2015, 58 launched a second-hand trading platform, followed by Tencent's capital injection, valued at over $1 billion.

In the hands of people who have nowhere to place old things, except for garbage basket, they begin to have a new place -- they take out their cell phones, take pictures, hang up "idle fish", and wait for the visit of new owners.

"The emergence of a problem can have many solutions."

In Xu Wei's view, leisure fishing is a path to eBay, which is defined as a platform for information release and a paction.

"In the early days, there were not many service providers for idle goods in the whole Chinese market. In this case, the light mode is easy to get up and there is nothing wrong with it."

But when people have higher demand?

Although the leisure fish never released the relevant data of passenger pass price, Xu Wei gave an observation of himself: to buy secondhand fish on the idle fish, everyone is rushing to the cheap, only cheap and cheaper, the difference between the 5 yuan can be dragged for a long time.

The most efficient commodity price on idle fish is 50 yuan, that is to say, the turnover of 50 yuan on idle fish is very smooth.

But once we run up to 100 yuan -150 yuan, this is not a very high price range. The flow of commodities is no longer smooth.

"The higher the value of commodities and the higher the complexity of pactions, the platform needs to do a series of standardized and value-added processing of merchandise sales, so that paction experience can be greatly improved."

Obviously, for the Plum which is the main category of second hand luxury goods, the simple information publishing platform is no longer applicable.

"The situation becomes more complex, and services must be re emphasized."

Thus, in the middle of C2C, Plum intervened in the power of the platform to do directional services: providing a one-stop consignment service for the individual sellers, sending goods to the seller under the order, the platform responsible for receiving, identifying, photographing, on-line selling, packaging delivery, and after sale; for buyers, it is a standardized second-hand purchase experience similar to the purchase of new products.

"Buying second-hand is more costly than buying new products, and you have to minimize the cost of making decisions.

How do you do it?

Let them buy second-hand products like buying new products, so that they will be leveled off.

(two)

Plum can not be regarded as an old expert in the second-hand luxury electric business paction. As a rookie, the growth is very bright.

Official data show that Plum currently accumulates a million users, and the monthly growth rate of pactions is kept at 100%, which is GMV over 10 million.

Nowadays, the higher the cost of online traffic is, the more difficult it is to get customers. Xu Wei said that the company did not spend a lot of money on promotion, and more than 80% was natural traffic.

How to do it?

Plum has not launched a app as the preferred form of company products.

Before taking the first step to net users, Xu Wei first drew a clear picture of Plum's target audience: like buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying, buying and buying younger consumers.

So where do we find these users?

One of the destinations is WeChat.

"Consumption related discussions and even final decisions may take place on the WeChat platform, plus at that time point (early 16), I think there is still a chance to do the WeChat public address."

So Plum first launched its own WeChat public number and spread it in WeChat group and friends circle, trying to establish a certain sense of trust with users in a short time. Some users are willing to try to send their thousands of bags.

At the same time, the content platform of the social attributes such as bean paste, know, micro-blog and so on has gone on the production of high quality content, in order to further absorb users.

With the content of WeChat public account and bean petal account, Plum has absorbed its seed users -- a group of young consumers who love diversified consumption and have brand awareness.

They soon became the "chips" used by Plum to talk about cooperation with KOL. In the early days of the brand establishment, it was already the usual practice to take money to feed a batch of V of considerable tonality, but Plum talked about replacement cooperation: "based on our precise positioning, we should exchange and cooperate with the users of such a group with such a group of customers.

Because of the early accumulation, what kind of bloggers should be found, what kind of content to export, and how to guide our own traffic platform, there is a spectrum in mind.

In this way, Plum's monthly sales increased from tens to tens of millions.

"In this process, we have not used the promotion fee, it should be said to be a zero cost acquisition (user) a state."

Xu Wei emphasized.

The third step of growth is social fission.

Arguably, after having seed users, they can start social fission. Why didn't they start earlier?

In this regard, Xu Wei expressed concern that "too early in the way of social fission is not accurate enough to catch users": "blindly fission, may come in is invalid users, he may not have a degree of recognition for the brand, may not be able to bear the price of 1000 yuan or even the customer price, and even no consumption habits of second-hand, after experiencing the first two steps, I already have a large number of user groups, and this group of users is able to generate accurate trading conversion users, on such a basis to design fissile things, the effect will be much better."

How to design it?

Unlike most of the knowledge payment products borrowed from social fission, Plum is based on physical products, while fashionable social networking teams are cheap to pull new ways, and Plum's second-hand goods are completely unable to support. Most of the cases are SKU with only one commodity, and the unit price is still high.

So they evolved and made a lucky draw.

Users deliver social efforts in exchange for raffle tickets.

Today, this mechanism has become a regular activity of Plum.

It can be said that for a long time, the main pactions of Plum came from the WeChat platform, which was completed by the small program + the public number, because the cost of acquiring the users was relatively low.

However, there are limits to WeChat's reliance. For example, when you try to make content on a platform like tremble, it is basically ineffective to stream to public numbers or small programs.

"You need another reservoir."

So in August 2017, Plum finally launched his own app. "Some things are not done, but when to start.

For now, it is the main task of this stage to guide users from small programs to app, but in the future, it is still hoped that they can be integrated together.

A real problem is that both WeChat and app will be restricted by two rules.

"When we go to app promotion, we have to follow Apple's policy. On the other hand, you see that in the process of iterating subscription numbers, many adjustments in WeChat have great influence on the flow of the enterprise. The real change is constant. It's better to have your own private traffic and get rid of the influence of these platforms.

So, you need to constantly create your user backup.

The ideal state is that all of your users are best able to do maintenance through a personal WeChat.

Of course, for Plum, we are actually building the initial stage of backup.

In addition to the user volume and the objective growth of GMV, a data that Plum has mentioned is the dynamic sales rate, claiming that the "90 day sales rate is above 80%".

On the one hand, it benefits from the continuous iteration and efficiency improvement of the whole new backstage process, and on the other hand, it also has a certain relationship with the pricing mechanism.

As a bilateral business, the pricing mechanism of the platform is an important link to balance the interests of sellers and buyers and ensure user experience.

At present, there are two ways of platform pricing and personal pricing on the platform. Choosing platform pricing, the platform is based on the price of goods, the platform extracts 15% Commission on the basis of the price, and chooses the individual price, then the platform extracts 30% of the personal pricing amount as commission.

Relatively speaking, price sensitive sellers tend to choose independent pricing, the platform does not intervene, but it will provide a price adjustment tool. When the seller's independent pricing does not attract the right buyers, the power of pricing will be pferred to the platform again.

Platform pricing is actually a horse racing mechanism between independent pricing.

Why platform pricing?

"The individual seller is not the most professional seller. He does not know which price of his skirt bag can be sold most quickly, and on the basis of this, he can get the most reasonable income.

And we have machine algorithms to do this. From the results of the current operation, the price of the platform must be sold faster than the individual price. "

(three)

2018 is not a good year for venture capital, but a second-hand fashion business like Plum is not cheap.

Besides Plum has completed tens of millions of dollars B round of financing, such as "heart", "fat tiger", "only two" and other projects also have a series of new capital moves.

Some people call 2018 the year of the outbreak of China's second-hand fashion business.

But compared with the maturity of the US and Japanese market, China's second-hand fashion consumer market is still a primary state.

Once the local "pioneer" temple library, but not by the second-hand business listing bell, as early as 2011, the focus of the business will shift to the new consumption of luxury goods, and in 2015, the proportion of second-hand business accounted for less than 5%.

The premise of the prosperity of second hand fashion market is that the consumption of fashionable new products is excessive.

Relatively speaking, luxury as a higher value category is the most valuable category.

In the extreme cold winter to the recovery of the luxury goods industry, China's consumption power has become the backbone of the luxury consumer market. In 2016, the global luxury market grew by 3.32%, and China's luxury goods sales accounted for 21% of the world's total, second only to the United States ranking second in the world.

Therefore, at the moment when domestic luxury consumption has reached a certain volume, we may be more optimistic about the growth of this new field.

In 2011, the United States produced two fashion and second-hand e-commerce platform, mainly clothing and handbags. One is called Poshmark, the other is called the RealReal.

The former completed a $87 million 500 thousand D round of financing in November 2017, with a valuation of over $600 million, while the latter completed a $115 million G round of financing last year. It is reported that in 2017, its revenues exceeded $500 million.

A report released in the RealReal2017 shows that Z generation (after 95) is the fastest growing group of consumers on RealReal, increasing by 35% over the millennial generation.

This growth is even excited by a number of luxury brands.

French luxury goods giant LVMH and Kering are negotiating more cooperation with theRealReal.

And from the industry trend, at present, the new important business of every second-hand fashion business is to open the line and shop.

After attempting the success of the flash store, theRealReal announced in 2017 that it would open a series of offline stores, the first stop in New York.

In the same year, another second hand clothing consignment platform ThredUP opened its first physical store in San Marcos, Texas.

And the second hand luxury electric business in China, such as fat tiger, opened its first line store in 2016. In 2017, it began to shop under the two or three and four line city layout lines, providing users with services including appraisal, maintenance, recycling, ordering, leasing and auctioning, etc. at present, there are 50 stores under the line.

Plum has just opened its first real store in Sanlitun.

The life of a commodity in a single consumer is compressed by the desire of "new".

But this new product is not necessarily the pursuit of new products, but the pursuit of "freshness". It stimulates the accelerated flow of commodities and prolongs the life cycle of a single commodity. In addition to second-hand, leasing, as a pre trial scenario, business is also growing in this trend.

Author: Wang Lixian