Recently, Bosideng's down jacket has been annoyed, and Bosideng, which is the light of domestic products, has also embarked on the road of low configuration.
It is understood that at present, Bosideng's most expensive down jacket is as high as 12,000 yuan, and the average price of Canada goose is only a few thousand yuan
Bosideng is the largest down apparel manufacturer in China and the leader of the domestic down apparel industry, with its products covering various market segments from low-end to high-end, and its brand awareness and market share are among the best in the same industry.
However, Bosideng is not satisfied with such achievements, it has begun a high-end transformation in recent years, it has continuously improved its products, constantly introduced domestic and foreign celebrity endorsements, and continued to cooperate with internationally renowned brands to try to create an international luxury brand image.
On the one hand, with the improvement of domestic consumers' income level and consumer demand, the space and potential of the high-end down jacket market are increasingBosideng hopes to seize the opportunity in this market and improve its profit margin and brand premium ability.
On the other hand, Bosideng is also facing competition and pressure from home and abroadForeign brands such as Canada Goose and Moncler have occupied a certain share of the domestic market, and domestic brands such as Duck Duck and Gaofan are also rising.
Bosideng's high-end road seems reasonable, but in fact, there are many problems and risks, and Bosideng's high-end has not been recognized and supported by consumers.
Although Bosideng's products are continuous, the quality and design of its products have not been improved accordingly, and Bosideng's down jackets are still mainly based on warmth, lacking fashion and personality elements.
Bosideng's brand image has not been effectively shaped and disseminatedBosideng's strategy is just a simple strategy, not a value strategy, which does not bring more value and experience to consumers, but makes consumers feel deceived and exploited.
Bosideng's high-end has also damaged its core competitiveness and market position, and Bosideng's ** has caused it to lose its original mass market, and Bosideng's sales volume and market share have declined.
Bosideng's financial report shows that although its revenue and net profit in the first half of 2023 have increased, its growth rate has slowed down significantly, and Bosideng's stock price has also been sharply**, and its market value has evaporated by more than half.
Bosideng's ** also made it lose its original loyal consumers, Bosideng's consumer satisfaction and reputation have declined, and Bosideng's brand image has also been negatively affected.
Bosideng's high-end has also had a negative impact on the domestic down apparel industry, and Bosideng, as the leader of the industry, has triggered a wave of price increases in the entire industry.
Many domestic down jacket brands have followed suit to improve their products, which makes the domestic down jacket market appear a vicious competition.
Consumers' purchasing power and willingness to buy have been suppressed, and the sales volume and demand for down jackets have declinedIt has had an adverse impact on the domestic down jacket industry chain, including breeding, processing, sales and other links, and has also affected the brand image and international competitiveness of domestic down jackets.
It can be said that Bosideng's road to premiumization is a failed attempt, and instead of bringing itself more profits and reputation, it has put itself in a predicament and crisis.
It did not bring more value and experience to consumers, but made consumers feel disappointed and angry, and it did not bring more development and opportunities to the domestic down jacket industry, but instead plunged the industry into a kind of chaos and recession.
Bosideng should re-examine its strategy and positioning, give up the illusion of high-end, return to its own essence and advantages, do a good job in its own products and brands, provide consumers with more choices and services, and make more contributions and demonstrations to the domestic down jacket industry.
In the future, Bosideng will stand at the crossroads of high-end, and in the face of the road ahead, it needs to face the difficulties and clear the fog on the road ahead.
The challenge of brand premium
Bosideng must prove the value of its brand through exquisite craftsmanship and excellent quality, so that consumers can understand and accept the high price**.
Brand premium is not only the first label, but also a recognition and trust of the value behind the brand.
Competition in the high-end market is like a torrent
Bosideng needed to find its unique position in this market and develop a differentiated competitive strategy.
It could be injecting more innovative elements into the design or showing a unique responsibility in sustainability to attract and retain consumers in the high-end market.
Consumer needs are constantly changing
With the progress of society and the upgrading of consumer concepts, Bosideng needs to keep an eye on the pulse of the market and understand the changes in consumer needs.
Only by keeping pace with the times and constantly adjusting products and services can we better meet the trend and meet the diversified needs of consumers.
The road ahead is full of challenges, but it also contains huge opportunities, and Bosideng must bravely navigate through the fog, find the right direction to move forward, lead the high-end market with innovation and quality, and move towards the future together with consumers.
In this fog, there may be more unknown variables, but it is in the exploration of the unknown that enterprises can continue to grow and surpass.
Bosideng