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Partnered Event – Selling online on China’s E-Commerce Platform in Shanghai on March 25-26th

E-Commerce in China

VELVET will partner with CCIFC for the exclusive “Selling Online on China’s E-Commerce Platforms” on March 25-26th in Shanghai. Dedicated to French companies thrilling to enter the Chinese E-Commerce market to sell products online, the French Chamber of Commerce has tailored an exclusive seminar to understand the E-Commerce market opportunities and meet experts in this field.

China’s market overview:

  • With more than 600 million netcitizens and 250 million online shoppers, China is the biggest e-Commerce market worldwide
  • 75% of Chinese shoppers buy at least once per week
  • In 2012, the overall of online sales reached more than 152 billion euros representing a YoY of 66,5%

Meet the two Leading Players on China’s E-Commerce Market Tmall – with more than 50% of E-Commerce market share – and JingDong – with more than 20% of market share ; as well as agencies expert in the field. VELVET will be pleased to be part of this value added training and be ready to answer questions or interrogations on evolving e-commerce market.

Save the date & Request more details here!

Date: March 25-26th, 2014
Location: Shanghai
Duration: 2 day
Price: 15 900 RMB

China Digital Roundup I Apple, Tmall, Fan BingBing, LightInTheBox

A roundup on how digital is transforming our life and business – both in China and the rest of the world through January 10th.

Apple aims for more Chinese customers with a new e-store on Alibaba’s Tmall, by Tech in Asia

Apple Store tmall Premium Brand

Apple has opened an official web store on Tmall, Alibaba’s “online mall” for brands and big-name merchants, reports the Wall Street Journal. Accessible at apple.tmall.com, the new online storefront marks Apple’s first foray into setting up an e-store outside of its online Apple Store.

What’s the significance here? For one thing, it’s a sign that Apple is directly utilizing yet another sales channel through which it can reach Chinese consumers. Last December it finalized a massive deal with domestic telco China Mobile, and it will cut the ribbon at a shiny new Apple Store in Beijing today.

 

Fan Bingbing’s potent ‘Star Effect’ worth $74 million on Taobao, by JingDaily

Fan Bingbing Taobao iron man

Brands such as Louis Vuitton, Chopard, Cartier, Mercedes-Benz, Adidas, Moët & Chandon, and L’Oreal knew what they were doing when they hired actress Fan Bingbing (范冰冰) as their celebrity brand ambassador: a report last month by online retail giant Alibaba’s Taobao revealed that the Iron Man 3 star has generated US$74 million (RMB450 million) in e-commerce revenue.

Showing that “star effect” is actually quantifiable, the e-tailer released its list of the most lucrative brand ambassadors generating income for the site in 2013. According to the report, Fan easily topped the charts. The ranking was calculated by taking into account the name keyword searches that brought in the most revenue, along with the total sales revenue of each brand with a celebrity ambassador, according to Taobao. Unsurprisingly, her largest influence was in the areas of women’s dresses, handbags, high heels, and sunglasses.

 

Try on virtual makeup and pay with your hand with Retail Tech at CES 2014, by Brand Channel

ModiFace Makeup Mirror

Traditionally the International Consumer Electronics Show (CES) is an event that offers a glimpse of the future in technology from a consumer perspective. CES 2014 is no different—but it wasn’t just a glitzy keynote by Yahoo CEO Marissa Mayer that was creating buzz. Also on display were several technological innovations that suggest a whole new retail world is right around the corner.

The latest innovations are: “3D Augmented Reality Makeup and Anti-Aging Beauty Mirror” by ModiFace, The Biometric Scanner by PulseWallet, the virtual currency BitCoin and the tracking technology iBeacon by Apple. This is just the beginning of a brave new retail world—and consumers have yet to weigh in on just how much technology they want to help them shop.

 

China’s LightInTheBox acquires Ador, the Seattle-based social commerce site, by Tech in Asia

Ader LightInTheBox social ecommerce

LightInTheBox, the China-based e-commerce and sourcing company, has acquired Ador, the Seattle-based social e-commerce startup, for an undisclosed sum. The Lockerz team then launched Ador last April as a site where users could follow celebrities and models, track what they wear, and then purchase goods from retailers that provide Ador with a cut.

The acquisition is quite an interesting one. Ador appears to be in a state of constant transition, and a relationship with LightInTheBox – which, as a business and a brand, is pretty far from a sexy social e-commerce firm – will likely bring about further changes in its business model. Meanwhile, LightInTheBox can leverage Ador’s expertise in social and its existing partnerships with US retailers to move beyond its reputation as a seller of high-quality, inexpensive Chinese goods. In addition, the Ador team’s experience at Amazon will bring along knowledge and industry connections.

 

China Luxury Trends for 2014, by Red Luxury

China Luxury trends

China is a country in constant change. The rate of change related to anything China has been phenomenal, presenting both challenges and opportunities for luxury companies who want to part of this promising market.

Despite a much-reported growth ‘slowdown’ and political upheavals, China’s growth will continue. We expect Chinese luxury consumers’ desire for less conspicuous consumption and unique experiential pursuits to gain further momentum this year. Other trends to watch in 2014 include:

E-Commerce/M-Commerce Becoming the Norm – Lower Tiered Cities Become Major Battlefield – Research & Purchase Model Is Here to Stay – Growth of “Lifestyle” Brands – Shift from Rapid Store Expansion to Improve Store Productivity – Second Hand Luxury Boom – China to Become Greener.

China Digital Roundup I Valentino, Luxury E-Commerce, Apple, Alibaba 11/11, Vancl

A roundup on how digital is transforming our life and business – both in China and the rest of the world through November 15th.

Valentino Targets Global Audience by Live-Streaming Shanghai Collection, from Luxury Daily

VALENTINO Fashion Show

Italian fashion house Valentino is taking an unconventional approach to promote the opening of its new store location in Shanghai by unveiling an exclusive collection Nov. 15 that will be available at this location months before it hits the shelves in other stores.

The Maison’s creative directors, Maria Grazia Chiuri and Pierpaolo Piccioli, designed the Shanghai collection that will premiere Nov. 14 on the Bund and via a live-stream on its Web site. By live-streaming the show, Valentino is giving consumers around the world the opportunity to participate in the opening of its newest flagship even though they cannot be there in person.

 

5 Tips for Luxury E-Commerce Success, from Jing Daily

5Lux example eshop

Luxury is set to take up a significant part of the online retail pie, with an estimation to be worth $27 billion by the end of this year. However, China’s e-tail landscape has proven especially tricky for luxury brands. Despite the significant profits to be made, Macy’s put its China e-commerce plans on hold in October of this year, which followed a decision by Neiman Marcus to downscale its China e-commerce operations several months ago.

These instances likely reflect the fact that luxury e-commerce faces many challenges in China, including logistical issues that harm quality of service, customer concerns about fakes, and fear of online fraud. However, the business climate may be improving: a recent survey of Chinese luxury customers by Ruder Finn and IPSOS found that 36 % of respondents prefer to shop for luxury goods online, a 22 % increase from 2012.

 

Apple is about to crash the party, claims L2 founder, from Luxury Daily

Apple Luxury orientations

L2′s founder predicted that technology giant Apple will be venturing into luxury categories in the near future to capitalize on enormous profit margins and its pristine brand image at the L2 Forum 2013. L2 Think Tank boss Scott Galloway pointed out that Apple’s acquisition of CEOs from Burberry and Saint Laurent indicates that the brand is forcefully moving toward the luxury sector. The founder also warned that luxury brands will begin to face increasing disruption from outsiders.

“Apple is about to crash the party,” Mr. Galloway said. “Why wouldn’t [Apple] migrate to [luxury]? The move gives consumers a chance to express their affinity for Apple with something other than [technology],” he said. “Luxury is on the verge of a massive disruption by competitors.”

 

$5.7 billion spent in 24 hours on ‘Cyber Monday’ Alibaba, from Tech In Asia

Alibaba Tmall

China’s 11/11 online shopfest – the country’s equivalent of America’s Cyber Monday – has just finished. It’s been a record-smashing mega-sale on hundreds of e-stores. Here at Alibaba HQ, the makers of China’s top online marketplaces are celebrating the biggest-ever shopping day: a grand total of $5.7 billion (RMB 35.02 billion) spent in the course of just 24 hours.

(Update: Total unique visitors on Tmall on this 11/11 hit 402 million, up from 213 million on the same day last year). The sales on Alibaba’s Tmall involved over 20,000 merchants on its online marketplace. That massive $5.7 billion figure counts only Tmall and Taobao customers who paid via the company’s own Alipay (like Paypal), so the total spending amount will be higher once all payment methods are totaled up. The most popular store on Tmall all day was the official shop of Xiaomi, China’s upstart phone-maker.

 

Chinese clothing e-tailer Vancl gets $100 million funding, from Tech In Asia

Vancl eshop

Chinese clothing e-tailer Vancl, which sells Muji/Uniqlo-esque cheap yet funky clothing on the web, has wrapped up its seventh round of venture capital funding. The newest tranche is worth $100 million, Vancl vice president Xu Xiaohui revealed to China’s Economic Observer newspaper. No further details were given.

Vancl – which also has an open marketplace for clothing-related merchants called V+ – is still dogged by rumors of financial problems. Vancl has raised over $400 million in its previous rounds from the likes of IDG Capital, but the e-store spent 2012 shedding thousands of jobs, and earlier this year restructured its business divisions as it seeks to remain agile amidst ever stronger e-commerce competition in China.

China Digital Roundup I The Left Shoe Company, Tmall, Cartier, Le Printemps

A roundup on how digital is transforming our life and business – both in China and the rest of the world through November 12th.

The Left Shoe Company: Old Craftsmanship and New Tech, from Business Of Fashion

Left Shoe Company Scan

The London outpost of Finnish upstart The Left Shoe Company is located in a jewel-sized store in Princes Arcade, a covered shopping arcade that runs between Piccadilly and Jermyn Street in one of the British capital’s smartest shopping districts, known for its men’s shoe and shirtmakers.

At the store, customers can order made-to-measure shoes, selecting from six different sole options and 20 different upper variations, available in a wide range of colors and materials, from leather and suede sourced from Italy to exotic skins like stingray and alligator, sourced from Taiwan and Paraguay, respectively. The shoes are designed by Maurizio Mazzucato, who works with some of Italy’s largest fashion houses.

 

Alibaba’s Tmall Sees $500 Million spent in First 20 Minutes, from Tech In Asia

Tmall Singles Days

It has just turned November 11 in China, commencing the nation’s craziest day of online shopping discounts and spending. It’s called 11/11. At Alibaba HQ, China’s top e-commerce company is watching its consumers spending in real-time in what I like to call its ‘big data’ war-room. Alibaba’s Tmall, its open marketplace for merchants, saw $177 million spent in the first six minutes. That leapt to $266 million (RMB 1.64 billion) after the first ten minutes, and then to very near $500 million (RMB $3.021 billion) at the 20-minute mark. (UPDATE: After the first 50 minutes, $1 billion has been spent).

In the hour before midnight, Alibaba representatives said that six million people had put items in their virtual baskets, awaiting the start of 11/11 and for the discounts to become active. More than 20,000 merchants on the Tmall online marketplace – from small businesses to major brands like Uniqlo – are taking part in the sales day.

 

How to Set up a Fashion Business from Scratch via e-Commerce, from Business Of Fashion

eCommerce Fashion Brands

It’s no secret that the web has become one of the most effective tools for fashion brands to market and sell their wares. According to market research firm Emarketer, online sales of apparel and accessories are now growing faster than any other e-commerce product segment (20 percent per year).

By 2016, the category will account for $73 billion worth of online purchases in the US alone, just over 20 % of all online retail sales. And while young fashion brands will always need to maintain offline touch points where customers can touch, feel and try on product, seizing the e-commerce opportunity is equally crucial to long-term success.

 

Cartier CEO Stresses Importance of Carefully Curated Digital Presence, from Luxury Daily

Cartier - YouTube

The North America chief of French jeweler Cartier at the L2 Forum 2013 said that while the brand is investing heavily in digital media, the house proceeds with caution when applying a new social media tactic, keeping in mind the brand image and long legacy.

While other brands jumped on Facebook and began posting a lot of content, Cartier decided to test the waters first, only posting one item a month out of worries that fans would tire of seeing multiple posts from them. During the “A Conversation with Prestige CEOs” session the Cartier executive said that the jewelry brand has since raised the frequency of its social media postings, but still keeps a tight hold on its presence online.

 

Printemps Sets E-commerce Strategy, from WWD

Le Printemps Paris

Absent from e-commerce until now, Printemps said it hopes to generate at least 10 % of its sales from the channel within three to four years.
“We believe the French market is at a tipping point,” Printemps chairman and CEO Paolo de Cesare said. “Customers want to have an experience online, and in a physical store.”

Last month, Printemps acquired French fashion e-commerce site Place des Tendances from media firm TF1 Group, and de Cesare said it would be its main vehicle in the online world.