We are a Cost-effective Chinese E-Commerce Agency and we can help you to sell on Secoo your Luxury, Fashion & Lifestyle Brand.
Secoo E-Commerce Agency
Secoo is China’s biggest luxury e-commerce platform focused on the Asian market. Founded in 2008, its total revenue reached RMB 802.5 million (USD$ 127.9 million) in Q1 2018.
Enter into Secoo is not that easy, and you need a special process to enter, that is why most Brands need an Agency to facilitate the Adminission.
SECOO: A Significant Player on Luxury E-commerce Market
The sales of luxury items are moving online: 32% of online sales in 2016, with a forecasted increase to 44% by 2025.
Secoo works on the business model of an online retailer, which implies that the company first purchases goods from manufacturers and then sells them on its platform through the website and mobile applications. It also has several offline stores in major Chinese cities.
New Chinese Consumers Generation
According to a 2017 Chinese Luxury E-commerce Whitebook report from Secoo and tech giant Tencent, Chinese tech-savvy millennials and Generation Z are set to become the dominant driver of luxury consumption over the next decade. The average age of Chinese luxury shoppers has dropped from 35 to 25, and 48 per cent of them are under 30, as the World Luxury Association reported. It is 15 years younger than the average European luxury consumer and 20 years younger than the average U.S. luxury consumer.
These young consumers seek more personalized and less mainstream experiences. According to the report “Global Powers of Luxury Goods 2017” by Deloitte, “These consumers are no longer overly loyal to one specific brand. Instead, they want luxury brands that speak for themselves. They are more willing to pay attention to trendy brands with stories.” source M2C
For example, as Hip-Hop culture has become high-performing now, more young people are turned into fans of Supreme and Vetements brands. source fashionChina
Big Names Collaboration
Secoo is still best known for luxury fashion, counting handbags and shoes among their best sellers. Many influential international labels have won a huge exposure in China thanks to the platform.
L Catterton, LVMH’s private equity arm, announced their investment in and partnership with Secoo this year, meaning the luxury platform will benefit from special partnerships with a wide range of top-end brands under the LVMH umbrella.
On 26 November, Secoo officially announced that the Italian fashion clothing brand Diesel Kid enters its online platform and becomes the exclusive online platform for Diesel Kid in China.
There is also made-in-Europe shoes on the platform, as the European Confederation of the Footwear Industry (CEC), representing 87 per cent of footwear production in Europe, signed on to be an exclusive partner back last year.
- Apart from fashion, Secoo also partners with Malaysian department store chain Parkson to offer cosmetic and beauty products.
- Secoo is also searching Brands from Italia. source China Market Blog
From Offline to Online
Although consumers are more digital-oriented to seek everything on their smartphones, the purchase of high-end goods more likely takes place in stores. Secoo here is a two-in-one business model integrated both online and offline infrastructure.
Branded as premium lifestyle centres to showcase products and offer VIP services, Secoo has invested in a number of locations, including major first-tier cities in China, plus cross-border stores in Milan, New York, Tokyo and around the world. However, sales have been growing online while decreasing offline.
Luxury retail is only a part of Secoo’s ambitious plan to be a one-stop-shop for all the things. The online retailer is expanding its services to give high-end consumers personalized travel, education, healthcare, luxury and restaurant experiences by way of acquisition and partnership.
To demonstrate their serious intentions Secoo bought a subsidiary of Caissa Travel who provides tourism services in more than 100 countries and regions and began rolling out customized suites in hotels and premium routes.
Secoo launched a series of special night events with their VIPs to dive into nightlife industry and present their own cocktail brand distributed via exclusive bar partnerships.
Secoo has released the first-ever butler service for their platform. The new program is called “39 Degree Service,” and it is available both online and offline for shoppers. All butlers affiliated with Secoo are experienced with the brand they sell. “A butler is not just one person -you can consider the butler a complete service system with experts and key opinion leaders,” – says CEO of Secoo, Li Rixue. “Butlers will transform all resources into premium services and products, offering the optimal experience and achieving the goal – devotion to you.”
Premium League Player
The way Secoo skipped to the top of the premium e-commerce ecosystem in only 10 short years only proves the huge potential in China’s online luxury market.
They succeeded to build an infrastructure that allows bringing both online and offline shopping experience into one platform covering various lifestyle aspects with customized offerings. This is no doubt a fascinating strategic development based on a solid marketing decision.
If you want to integrate Secoo, contact us.
Fees start at 1000USD only