What Signals Did Farfetch Deliver With Mr. Bao?

In 1967, the six dimension theory, put forward by Mir Glenn, a social psychologist in the United States, believed that there would be no more than five people between you and any stranger, and you could recognize any stranger at most through five people.

For a long time, social interaction is the most effective leverage to achieve innovation, especially in the age of social media in the past half century. Technology has become the accelerator of social interaction. Everything is developing towards a more direct, faster and more convenient way. Fashion retailing is also being reshaped by social interaction.

Yesterday, luxury fashion business Farfetch and last year's Forbes, "30 Under 30 Asia" celebrities list of fashion owners, Mr. Bao jointly launched the WeChat small program "Mr. with Farfetch", launched a social networking business trend to the new trend of the fashion industry.

In the past, luxury fashion providers used to cooperate with fashion bloggers mainly to provide special discount codes for fans, so as to realize the drainage of bloggers' fans from the content platform to the electronic business platform. This time, Mr. Bao and Farfetch cooperate with the small program to bridge the Farfetch's e-commerce platform into the content environment. When consumers browse the content, they can place orders directly under Farfetch without jumping out of the small program of Mr. Bao, and realize the experience of "buying and watching" in the WeChat ecosystem.

In this cooperation, Farfetch not only provides technical solutions, but also opens up its products from more than 50 countries and more than 3000 brands for the content operators. Mr. Bao yesterday revealed in the WeChat public article that the contents of the small program electronic business will be basically cooperated with Mr. Bao's WeChat content. After reading Mr. Bao's article, the reader can enter the small program to purchase. Even if it is not purchased, the price and size information can be queried in real time more quickly.

Mr. Bao said to WeChat public number LADYMAX, "as a producer of content, when I face the readers, I will receive some feedback from them. For example, some of the people in the bag are very fond of the small package. I also like to recommend small crowdsourcing in the article. This time the problem comes. After reading the article, I want to buy a bag, but I don't know how to buy these bags. Because most of the small packages have no shops in China, I can't give them a reasonable purchase channel so that they can buy at ease. "

It is reported that the recommended products in the new product recommendation section of the small program will be updated every Tuesday morning. This also means that it is different from the short-term flash form of the cooperation between past bloggers and e-commerce platforms. The long-term guidance of Mr. Bao's cooperation with Farfetch will have a deeper impact on the fashion retailing form and the online behavior of consumers.

Since 2017, the commercial realisation of fashion bloggers has become a hot topic in the industry. Bloggers or self built small business electric providers, or cooperate with intermediate service providers to launch selected platforms, select products according to their own viewpoints, and then aggregate purchase channels, thereby shortening the chain of content realisation.

However, after-sales service and supply chain have always been the weakness of this selection mode. Mr. Bao with Farfetch is directly connected to the Farfetch global product information database and real-time inventory. After entering the package port, the user will complete the order on the Farfetch applet. In this way, consumers can get reliable consumer protection, including Farfetch's customer service and logistics services. For Farfetch, it also helps to accumulate accurate user data and enhance user loyalty.

For Mr. Bao's fans, Farfetch offers a wide range of brand choices. Mr. Bao believes that the choice to cooperate with Farfetch is also because Farfetch brand is very complete, from luxury brands to niche brands to street corner cards, almost all of which are not only from a store, but from all over the world, all kinds of brands and buyers. It is worth noting that at the end of last year, Farfetch also bought Stadium Goods, a multi brand sportswear retailer at a price of $250 million, to accelerate penetration and street apparel market.

Based on Mr. WeChat's mature WeChat public account content operation, combined with the full set of technical solutions provided by Farfetch, "Mr. Bao with Farfetch" social electronic business applet can achieve "strong ties" at multiple levels, open up the identity of consumers and readers, make content closer to purchase, further integrate content platform and trading platform, realize seamless user experience of WeChat fashion content and e-commerce transformation, and help fashion bloggers realize large-scale social content realisation.

In the fiercely competitive Chinese market, technology and society are tightly bound together. Whether it's fashion bloggers or fashion electric providers, as the beneficiaries of social dividends, they are seeking to make use of new technologies to achieve new breakthroughs. For a long time, Farfetch has not only positioned itself as a luxury fashion supplier, but a technical service provider.

Farfetch was founded in 2008 by Jos Neves. In order to make more small boutiques accessible to global consumers, the Farfetch website used a special buyer shop mechanism to aggregate the buyers of more than 50 countries in the world. The website earned profits from the two hundred bits of the transaction amount than the Commission, and the goods were sent from the third party retailers, while Farfetch did not keep the inventory. This can significantly reduce management costs on the basis of maintaining buyer shop entities. In the data report released by C & C Strategy Consultants and Financo, Farfetch has become the fastest growing online retailer in the UK.

Based on the two concepts of full channel concept and technology provider, Farfetch began to prepare new business named Store of the Future in 2017. In April 2017, the "FarfetchOS Technology Fashion Festival" was held in April 2017. This "future store" is located in a brick wall built in the basement of London's ha Ni Ni, with the core operating system developed by Farfetch, and the advanced technology including hanger and smart racks.

In addition to Luxury Retailing, Farfetch is working with global luxury brands to provide new technology and e-commerce solutions to its brand through its technology service platform Farfetch Platform Solutions. It is noteworthy that in February last year, Farfetch reached a cooperation agreement with Chanel, which resolutely opposed online sales. It plans to provide consumers with the best digital shopping experience through online and offline upgrading. In the first quarter of this year, Farfetch has launched the first "future store" enhanced retail pilot in Chanel Paris flagship store.

But Farfetch's ambition is more than that. Eventually, technology will return to social networking. Farfetch will revitalize China's online traffic and build a stable community through platform and technological capabilities.

In July last year, Farfetch acquired Curiosity China, a Chinese digital marketing company, which mainly provides digital business development and management services for more than 80 luxury and high-end brands. Through the integration of CuriosityChina and Farfetch, it further supports its new business unit Black&White solution launched in 2015, and provides services for the cooperative brand to enter the Chinese market, including completing clear and complete inventory inventory, excellent e-commerce marketing capabilities, and a full range of customer service and cross border logistics solutions.

As China's social media traffic dividends have been carved up, how to build and stabilize their communities has become a new common problem of fashion business. Working with head opinion leaders to build more long-term and in-depth cooperation through the flow pool of these "traffic masters" is considered the main task of the next stage.

The long-term strategic cooperation with the industry's recognized head influence figures not only enables fans to understand the Farfetch platform and products, but also provides long-term benefits to fans with the flow owners. First, "make friends" and then go shopping to work together for community operation. Liu Xiaoqin, managing director of Farfetch Greater China, seems to have a broad interpretation of opinion leaders in the industry. Because their fans have a certain coincidence with brand users, the two sides can leverage each other to expand their influence.

In fact, cooperation with Mr. Bao will be just the beginning of a series of Farfetch opinion leaders' cooperation. From a technical perspective, the social Mini program business model is replicable, enabling Farfetch to cooperate with other fashion bloggers and opinion leaders in the future.

The real imagination is that in addition to opinion leaders, Farfetch can also sink the pattern to ordinary users and establish a community of content sharing. It is noteworthy that in this "with Farfetch" package of small businesses, the desire list of consumers, users can not only see their own desire list, but also can see other people's list, further strengthening the electricity supplier's sociability.

In recent years, Farfetch has made great efforts to develop its different dimensions of community operation system, including the launch of UGC (user original content), "Farfetch fashion community" as a planner. The invited users choose their own products and shoot blockbusters on the Farfetch global platform, so that consumers can turn themselves into opinion leaders and spontaneously become communicators, so that everyone can make use of personal influence to share fashion experience and shopping experience with others.

With the growing popularity of social business in China, the recent "invitation Award" activities launched by Farfetch also reflect the distinctive characteristics of social business. Consumers can purchase WeChat's small program in Farfetch China APP or Farfetch boutique mall, and invite friends to become Farfetch users through WeChat, both sides can receive shopping benefits.

But the social business of fashion is still different from that of mass consumption. If the social media business in the mass consumer field has cut the desire of consumers to make money, the fashion industry's social business providers rely more on content, and more on the psychological identification between consumers.

Last month, Farfetch also worked with young magazine NYLON nylon to take pictures of 20 millennial young people on the theme of no boundaries. They explored the combination of high fashion and street fashion and held a flash exhibition at Kerry Center, Jingan. NYLON nylon magazine has put forward a unique community operation idea around college students' associations, which reflects the efforts of the fashion industry as an "exotic" fashion to move closer to local fashion and consumers in the past. At the moment, Farfetch's efforts are also trying to achieve the "integration" of diversified consumer groups through the operation community, especially the youth community, and further integrate the global luxury platform with China's local market.

Social networking defines fashion consumption, and fashion e-commerce is the product of information redistribution. The distance between consumers and commodities, experience and opinion leaders is infinitely short, and 5G will accelerate all this.