What Inspiration Can Fans Bring To The Clothing Industry?

The increase in revenue is mainly based on the expansion of the retail network, the rapid development of e-commerce and new businesses. Among them, fans of Jiangnan Buyi have a strong economic performance, accounting for over 70% of their revenue contribution.

The fans of Jiangnan Buyi are strong in economic strength. They are regarded as a group of fans in China earlier. What is the economy of fans in the south of the Yangtze River? What can we learn from it?

From the brand strategy point of view, the company continues to launch new brand, multi brand strategy to meet the individual needs of different subdivision consumer groups. After more than 20 years of fission, men's wear CROQUIS, children's wear JNBY by JNBY, women's wear less, teenage dress Pomme de Terre, home JNBYHOME have been gradually developed. In 2018, it also launched professional men's wear designer brand SAMO, fashion environmental brand REVERB, and designer brand collection shop.

From the perspective of channel distribution, the main business of the company is concentrated in two or three line cities or even more subsiding cities. For a designer brand, it is more forward-looking for the channel to sink to this level.

From brand strategy to channel is the overall layout of Jiangnan cloth and clothing. These initiatives also develop "membership system" and develop fan economy.

During the reporting period, Jiangnan Buyi had a membership of about 3 million 600 thousand, up 100 thousand from the same period last year. Among them, the number of WeChat accounts is more than 3 million 100 thousand, an increase of 47.62% over the same period last year. According to the financial information, during the period, the proportion of retail sales contributed by the members of the southern part of the Yangtze River accounted for about 70% of the total retail sales, reaching 2 billion 400 million yuan. In 2018, its retail sales amounted to RMB 2 billion 170 million, contributing to the total retail sales of more than 40% lines.

Focus on social media and enhance interaction with fans

In the fan economy sector, Jiangnan cloth is the front end of the industry. Jiangnan Buyi is very concerned about the social media sector. For example, the WeChat public number of Jiangnan Buyi focuses on the setting of columns. Apart from simply sharing Clothing promotion, it also combines travel, photography, food, architecture and other arts to show the attitude of people around them to fashion literature and art. Through the platform of WeChat public address and micro-blog, the relationship between fans and fans in Jiangnan has become a new way of communication, which is very beneficial to the improvement of brand business.

Secret member mode, with fans as the core

What is the membership mode of Jiangnan Buyi under the line? It is understood that the gold card for women's clothing in the south of the Yangtze River has consumer demand, and it can be opened and enjoy the discount after reaching the quota. At the same time, after becoming a member of the Jiangnan cloth and paying an annual fee of 199 yuan, you can enjoy six one to one collocation division customizing service each year. This is a series of measures to further expand the core customer base and maintain and enhance customer loyalty.

For online shops, there are various directional promotions, lucky draw, daily check-in gifts, birthday greetings, exclusive membership benefits and other activities, in order to strengthen links with fans. At the same time, in improving the layout of each channel, it also provides consumers with as many combinations as possible, giving consumers the ability to freely switch in various buying modes.

Jiangnan cloth clothing side said that Jiangnan Buyi group "fans" as the core, using Internet thinking and new technology, and constantly strengthen and improve the construction of the interactive platform. In the future, we will further enhance the design innovation and R & D capabilities, optimize the brand portfolio of designers, constantly train new fans in the south of the Yangtze River, adhere to the core of the fans economy, encourage operational innovation, and continuously create and provide value-added services for the fans to create scenes and contacts to enhance the fans' experience.

But through this earnings report, we can see that the growth rate of Jiangnan Buyi has obviously declined this year, with the overall performance narrowing and the share price falling. In addition, the change of channel structure of Jiangnan Buyi company led to a 250 basis point margin of gross margin to 61.2%. In fact, the gross margins of all brands and all channels show a decrease in varying degrees.

Economic challenges of fans in Jiangnan

The growth rate has declined and the gross profit margin has been shrinking. There must be some related factors behind these explicit data. Especially in the era of massive information and more choices, a test for fans of Jiangnan Buyi fans is to maintain their original style. Prior to the plagiarism storm for designer brand Jiangnan cloth influence is particularly huge. The core of the economy of Jiangnan Buyi fans is brand influence, but several successive plagiarism storms have made the reputation of Jiangnan cloth clothing face the test.

In November last year, the company's women's clothing brand JNBY was suspected of plagiarizing the works of independent designer Chen Peng on Tmall China Japan fashion week. Before that, the CRUQUIS of a men's clothing brand CRUQUIS was forced to go off the shelf because of alleged plagiarism. In September last year, the video taken by women's brand less and creative short film platform NOWNESS was also plagiarized. This series of turmoil has led to sharp fluctuations in share prices.

With the advantage of fans, make efforts to digitize new retail outlets.

All garment enterprises face many challenges in the new era. For Jiangnan Buyi, one of the major advantages to face the challenge is to make use of the fans economy to break through their own ceiling. The core of fans' economy is to grasp the needs of consumers, and make adjustments in product and strategy according to the needs of consumers. Jiangnan Buyi re layout in the new retail, replace CEO, with fans economic advantages to the full channel, digital retail transformation.

With the gradual saturation of the traditional clothing retail market, multi brand has become the layout strategy widely adopted by the domestic apparel group. In order to better break through, Jiangnan Buyi is also increasing the development of online business to meet the needs of the new consumer groups. Different from other domestic clothing brands, Jiangnan Bu Yi's new water trial starts from the line, such as the launch of the mini program "last box" last year, and Jiangnan Buyi is changing from product provider to service provider. Making full use of fans online, Jiangnan cloth line is also the key direction of future efforts.

Jiangnan Buyi integrated channel interactive platform in recent years is mainly composed of three parts: physical retail stores, online platforms and interactive marketing service platform based on WeChat social media. Therefore, in the channel construction, Jiangnan Buyi uses digital transformation. It is a bold attempt for apparel brands to build new online channels of interaction and sale with consumers through technology and services. The success of the new retail path in the south of the Yangtze River is of great significance.

Even if Jiangnan cloth clothing such a fan economy to the front end of the company is also facing the problem of growth and speed down, so the sustainable development of an enterprise needs to be taken into account in various aspects.