Recently, there was a sudden snowstorm in Harbin, and college students put it onArmy coats, as if transformed into an Antarctic scientific expedition team. Army coatsFrom this became popular and becameFashionableThe new darling of the world. However,Army coatsIt's not just because it stands outFashionableand, more importantly, its value for money. In contrast, domesticDown jacketsBrandsBosidengThe average price has reached 1,600 yuan, and will be ** to 2,000 yuan in the next three years, and the ** of some single products even exceeds 10,000 yuan. However, one pieceArmy coatsYou can buy it on the e-commerce platform for only a few dozen dollars. Not only consumers, but also investors are making choicesBosidengThe share price has increased by 50%, and the market value has evaporated by more than 30 billion Hong Kong dollars.
It is worth noting that this domestic productionDown jacketsof the "first brother".BosidengIt originated from the village-run sewing group founded in Changshu, Jiangsu Province in 1976, and was supported by 11 farmers with 8 unitsSewing machinePull oneself up by one’s bootstraps. After nearly 20 years of entrepreneurial hardshipsBosidengIn 1994, it completed the enterprise restructuring and began to catch up with the road to take-off. In that everybody thinks".Down jacketsFocus on keeping warm".BosidengIt was the first to introduce fashionable design and launched the "light, beautiful and thin".Down jacketsBosidengofDown jacketsNot only good-looking, but also of high quality, it has been worn by scientific expedition members to the North and South Pole and Mount Everest. It won the gold medal at the 1995 American-Russian Exposition and became a licensed product for the 1996 Atlanta Olympic Games. In 2007,BosidengListed on the main board of Hong Kong, the stock price has reached a maximum of 6HK$57 shares.
However, this once brilliant company fell into trouble in the second decade of the century. From expansion to contraction,BosidengIt seems that there are many challenges on the way back on track. Needless to say, for a long time,BosidengYou can be at the top with your main business alone. However, since 2013, the world has continued to experience warm winters, and the cost of duck down has continued to **, which makes itBosidengIn terms of both ** and sales, it has encountered difficulties. Like other well-funded industry leaders looking for a way outBosidengIt also chose diversified development and put forward the transformation strategy of "multi-brand, four-season, and internationalization". BosidengOut of the comfort zone, began to acquire other **, even children's clothing brands, and entered the "Four Seasons Clothing" market. However, business history tells us a phenomenon:BosidengIn the end, it also failed in the "multi-brand" strategy. In 2017,BosidengAnnouncing the **casual** brandMogaoIn just five years after the acquisition, it lost 60% of its book value. Industry insiders believe thatBosidengInDown jacketsBrand resources and talent reserves outside the field are very weak, and it is not wise to venture in. The most lethal thing is that too many cluttered brands can easily cause confusion in consumer positioning, so that the group's energy and funds are scattered. After almost a decade of explorationBosidengFinally decided to return to the bank——Down jackets。However,BosidengWhat I didn't expect was that I conquered the market with "fashion design" 20 years ago, but now I am labeled as "rustic" by young people. And soBosidengStart toFashionableFor example, in terms of brand design and IP cooperation, Yang Mi and William Chan were invited to serve as spokespersons, and a large number of emerging content marketing methods such as street photography, product placement, and KOL delivery were adopted. Since 2020,BosidengThe proportion of marketing expenses to revenue has increased year by year, and the proportion of marketing expenses to revenue has exceeded 35% every year.
withBosidengSimilar, other domesticDown jacketsThe brand has also embarked on the pursuit of premiumizationRoutes**Universal**. Recently, "domesticDown jacketsSold to 7,000 yuan" topic also caused heated discussions. And domesticDown jacketsThe ** is in the spotlight, probably because their actual performance does not match the **. toBosidengFor example, it only adjusted its direction to enter the high-end market in 2017, and launched ** up to 11,800 yuan in 2019Down jackets。And the domestic one that "sold for 7,000 yuan".Down jacketsThe brand has been established for less than 3 years. Whether it's brand heritage or functional design, it's hard to understand thisDown jacketsWhy is it so expensive?
In addition, in the context of consumption upgrading in recent years, people have become more sensitive to the pursuit of cost performance, and price reduction has become a trend in various categories, from milk tea to ice cream, from clothes to shoes and bags. However,Down jacketsBut it's constantly going on, making it take weeks or even a month's salary to afford oneDown jackets。This timeArmy coatsThe rise may soon pass, but domesticDown jacketsThe "betrayal" of ordinary consumers has made them gradually lose their fundamentals.
In business school,"Pricing:"It's a stand-alone course, and there's a lot of learning in it. Chaincost, product image positioning,ProfitsFactors such as fulfillment can affect a company's pricing strategy. What we can't ignore, however, is the consumer, who is ultimately the one who pays. If ordinary people spend more than half a month or even a month's salary to afford oneDown jackets, then the brand's best strategy may lose the market.
ForDown jacketsFor brands, the disconnect from market demand may be one of the main reasons. In the current context of increasing downward pressure on the economy and declining purchasing power of consumers, brands should think about how to provide products that are more suitable for consumer needs, while maintaining a certain levelProfitsSpace.
Innovation is the key to finding a breakthrough. Brands can consider developing more cost-effective product lines, not only pursuing the high-end market, but also focusing on consumers in the low-to-mid-end market. At the same time, we will continue to innovate in product design and technology research and development to improve the functionality and comfort of products, so that consumers will be the most comfortableDown jacketsThere is a stronger sense of identity.
Brand marketingPositive adjustments are also needed. toBosidengFor example, although new marketing methods have been adopted, it has not changed its positioning of pursuing a high-end image too much. Brands can be considered with:FashionableIn line with the trend, we will carry out cooperation and co-branded design to launch products that are more popular with young people. At the same time, through cooperation with social channels, KOLs and other channels, strengthen the communication of brand image and increase the quality of products.
In short, domesticDown jacketsBrands need to find breakthroughs in product pricing, innovation, and marketing to offer products that are more suited to consumer needs. Only in this way can we occupy an advantage in the market competition and maintain the development and growth of the brand.