Vipshop is the China’s third-largest e-commerce company, specialized in online fashion market. The total revenue of VIP.com in 2017 was RMB 72.9 billion, increasing by 28.8%. In comparison to Taobao, the most popular e-commerce platform in China, VipShop’s products are commonly known to be better, with a higher quality.
VipShop’s brand advertisement is to provide authentic products, from all over the world, and with flash sales. Its products include Ladies and men’s wear, children’s wear, shoes, beauty makeup, home textiles, mothers and babies care products. VipShop’s platform updates every day at 10 o’clock. For more information about e-commerce in China, click right here.
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Flash sales accelerate consumer’s need of purchase
It seems that luxury goods have more brand influence and Vipshop should naturally give more attention, but the opposite is true. After Vipshop shift the positioning of goods to brands such as light luxury, fast fashion, and high street, it turns in explosive growth. The sale’s system operated by Vipshop allows also unknown brand to break into the Chinese market.
The platform often organizes its sales around “featured brand+heavy discount+ flash sales” at many occasions. For example, there was a special event on the 19th april, then for the Labour Day on april 29th, 30th April and May 1st. Also, it will probably make event for May 20th and 21st (one of the chinese saint-valentine’s day, because actually there are a lot) and for june 1st. You certainly feel it, Vipshop, and e-commerce platforms in generally, doesn’t miss out every occasion to sell.
Weipinhui settled in Wechat wallet
On April 13th, the WeChat Wallet alerted users of the arrival of Vipshop with a small red dot on its platform. After that, WeChat users will be able to access directly the page of Vipshop through the “My Wallet-Third Party Services” portal, select and order for their desired products. In that way, Consumers can enjoy surprise benefits and achieve a renewed level of efficiency and fashion consumption.
As Wechat is the more used application in China (on March 2018, the number of users broke through 1 billion), this is opening a new chapter in Strategic cooperation for VipShop. VipShop targets to transmit quality life and enhance happiness experience to its consumers. Through this establishment, wechat households can access to Weipinhui’s page and use Wechat wallet to pay directly for orders. This is convenient for consumers but it will also improve significantly the sales of the entire platform.
Weipin will settle in WeChat Wallet to open a new chapter in strategic cooperation. It’s worth expecting that VipShop will not only cooperate with Wechat. At the same time, VIP will go further and develop new way to collaborate with more social e-commerce companies and join hands with the brand. Fun online shopping goes to a variety of forms and became a main subject in Weipinhui’s strategy, allowing users to enjoy more online shopping.
VipShop embrace “Z generation consumers”
On april 17th, Vipshop and Iresearch collaborated to publish a report on “The post-95s fashion consumption report. It is clearly shows the interest from Vipshop to Z Generation, who will become the main force of consumption.
This report is the first one based on the hundreds of millions consumer’s big data of VipShop club. It describes mainstream fashion consumption among the post-95s through multiple dimensions, such as their preferences, geographical purchasing power and consumption behavior. The report will become an important reference for predicting fashion consumption trends. “The company will continue to focus and fully embrace the “Z Generation”, helping to improve the consumer’s quality of life” said Huang HongYing, vice-president of Vipshop.
According to iResearch’s survey and recorded data, the post-95s take a leading position in the online shopping population, representing about 1/4 of e-commerce users. 63.9% of the post-95s respondents are using E-commerce platform every day and 10% order online each day.
In addition, the men’s beauty makeup market is welcoming an outbreak, becoming a main feature that distinguishes the post-95s consumers from other groups. Vipshop’s data show that between 2015 and 2017, the men’s beauty makeup consumption on its platform increased by 60%. The substantial increase will bring new potential for the market and lead new brands into the industry.
Consumers preference and habits
In terms of consumer preferences, the makeup consumption is the strongest and became the main feature of the beauty consumption area among the post-95th. Lipstick, BB cream, and eyebrow pencil became the favorite cosmetics category. In the purchase of luxury goods, most of them buy gifts and large-scale products. Jewelry and watches accounted for the highest proportion of demands and sales.
Besides their outstanding spending power, these young consumers are also considering as a very influent generation. The report calls them “种草一代 Zhong cao yi dai” , which refers to their strong brand communication ability. Young generations are very connected online and they use to share their daily activity. In the research about post-95s consumers’ habits, it was found that 41,8% said they would recommend good brands to their friends and family. In addition, more than 1/3 of them would forward useful information on the network and teach the elders how to use new apps.
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