Illustration from Canva.
It is in line with the popular saying: "It's not that you can't afford to buy a brand new, but that the second luxury is more cost-effective." ”
Nowadays, "buying second-hand and using second-hand" is no longer an unspeakable thing, but is respected by more and more young people, and second-hand luxury consumption has become a popular way of life. People are actively buying second-hand luxury goods through e-commerce, live broadcast and other transaction methods, in addition to vertical platforms, comprehensive e-commerce platforms such as ** are also becoming a collection of second-hand luxury transactions.
At the end of December, ** Second Luxury held a Super Watch Day, and the head merchants of the second luxury watch led by Hengshili, Botai and Youxi refreshed their performance, with an average daily outbreak of more than 700%; At the end of January, during the New Year's Festival, ** Second Luxury carried out a special session of centralized live broadcast of the hotel, on-site investment + live broadcast with goods, and many merchants increased their average daily sales by nearly 300% through this activity.
Through the data, we have seen the two-way rush between the second luxury and consumers, and at the same time, we have also found that many young people have included luxury goods in the list of "New Year's goods".
Buying the old instead of buying the new has become a trend, and the consumption of second luxury has broken through a new high
The Spring Festival is the most important traditional festival in China, and the Chinese New Year goods are an important part of the Spring Festival activities, and the older generation generally prepares specific New Year goods according to customs and regional characteristics.
Different from the consumption concept of the older generation, the first principle of contemporary young people to buy New Year's goods is: buy what they like. For example: handmade snacks, trendy lantern blessing characters, or bags, watches, electronic products and other luxury goods that you usually want to buy but are reluctant to buy, in order to show your personality, taste and unique pursuit.
It's just that luxury ** is higher, which is an expensive investment for most young people, and the burden is too great. Therefore, young people who are interested in luxury goods but have a limited budget often choose second-hand luxury goods with higher cost performance, which is also the reason why the business of the second luxury merchants is very good during the New Year Festival.
In addition to the New Year's goods special session with hot sales of second luxury, the clear consumption data of second luxury in the past two years also confirms that "buying the old and not buying the new" has become a trend.
Second-luxury consumption continues to break through new highs for the following reasons:
First, economic growth and the rise of the middle class provide huge opportunities for the second-hand luxury market. China's rapid economic growth has given rise to a large middle class, which has strong purchasing power, and they have the ability and willingness to buy luxury goods.
Second, the change of brand awareness and consumption concept has promoted the rapid development of the second luxury market. The new generation of young people pay great attention to brand reputation and product innovation and uniqueness, and luxury goods have a good reputation, high quality is still relatively scarce, right in the middle, young people will also see the second luxury consumption as a way to pursue individuality and green environmental protection, and are very willing to pay for the second luxury goods.
Third, the popularity and development of e-commerce platforms and social networking have further promoted the maturity and growth of the second luxury market. The development of e-commerce platforms and social networks such as short and live broadcasts has provided new channels for the promotion and trading of second-luxury goods, and consumers are willing to buy luxury goods and share their purchase experience and experience in e-commerce, live broadcast and other channels.
Fourth, the huge supply of idle luxury goods has promoted the prosperity of the second-hand luxury goods market. Sufficient supply is the premise for ensuring the sustainable operation and development of the second-hand trading market. According to iResearch's calculations, the value of domestic idle high-end consumer goods stock has reached 2 in 202087 trillion yuan and will reach 39 trillion yuan.
In short, the rise of the middle class, the upgrading of luxury goods, the transparency of second-hand luxury transactions, and the enhancement of the personalized needs of a new generation of consumers and the awareness of environmental protection are all providing impetus for the explosion of the second-hand luxury market.
**The second luxury rises in the wind, and high-net-worth users are indispensable
* The rapid growth of second-luxury consumption is like the epitome of the outbreak of the second-luxury market.
In the **clothing "**Love Luxury Festival" event, the sales of a number of second-hand luxury live broadcast rooms have grown explosively, and the volume and audience have hit a record high. It is understood that in the live broadcast room of singer Ji Jie alone, the audience reached 1.82 million on the night of November 22, and more than 200 popular classic bags such as Hermes, Chanel, and LV were launched. **The sales volume of the top second-luxury merchant Feiyu on November 22 also increased by 150%, and the audience increased by more than 200% month-on-month.
In addition, mature businesses in industries such as Yangzai Second Luxury and Panpan Zhonggu have also achieved more than 100% growth through the support of the exhibition scene. During the New Year's Festival, the second luxury industry as a whole showed explosive growth, and new head live broadcast rooms such as The Little Prince and Milan Square also emerged.
Tracing back to the source, behind the rapid progress of second-luxury consumption, in addition to the favorable environment of the second-luxury consumer market, there is also a deep insight and thinking on user needs.
First of all, the large number of high-net-worth users gathered is the "main force" of second-luxury consumption, and increasing the second-luxury market is an altruistic and self-interested choice.
As we all know, ** is the largest e-commerce platform in China, gathering a large number of high-net-worth users. According to the official data of **clothing, more than 400 million people buy clothes in ** every year, including 200 million high-quality female users. About 20 million high-viscosity users buy more than 50 times a year, with an average annual clothing consumption of more than 10,000 yuan.
These high-net-worth users have the pursuit of high-quality life, and they are more inclined to buy "brand + quality", and they agree that "you can buy expensive, but you can't buy expensive.""has a high acceptance of second-hand luxury goods. In this context, the second luxury market can not only improve user stickiness and consumption frequency, but also attract more high-net-worth users and increase the trading volume of the platform.
In addition, by creating the IP of "Love Luxury Festival" and the dual drive of store broadcast and Dabo, it helps second-luxury merchants to better connect with target users and improve sales results.
In 2023, ** Apparel will focus on the second luxury business as a key support project, invest massive resources such as traffic, category coupons, red envelope rain and other massive resources to create the second luxury IP "**Love Luxury Festival", and set up a weekly category day and a monthly super talent day to effectively connect and link the second luxury merchants with influencers and consumers.
In addition, it is of positive significance to better display, promote and publicize the products of the second luxury merchants and effectively expand the first rate of the products through store broadcasting and broadcasting, which is of positive significance for increasing the income of merchants and promoting the development of the second luxury industry. In the new year, ** put forward a ten-city plan, hoping to link the online and offline ecology of the industry and help the sustainable development of the industry through the activity form of "on-site investment + live broadcast with goods".
Behind the second luxury consumption tide: a value resonance of merchants, users and platforms
Chunjiang plumbing duck prophet, whether it is a talent anchor, or a veteran second luxury business, are deeply touched by the growth of the second luxury consumption in recent years, the author had the honor to interview two ** two luxury head merchants, Sheng Tang Youlu and Angeli.
In the interview, the biggest feeling of the manager of Shengtang Youlu is: "I have earned money, and there are more people in the team." Before doing ** in 2014, the manager of Shengtang Youlu worked in a foreign company, and started ** by chance, and now has formed a two-luxury team of more than 100 people (50 + people in the live telemarketing team, 10 + people in the quality inspection team, 20 + people in the commodity market, and 50 + buyers).
Nowadays, the "cooperation" between Shengtang Youlu and ** has been almost ten years, and when it comes to how to support businesses, the managers of Shengtang Youlu have a lot of feelings. He said: "As soon as I started the small store model, I found that ** users have a high awareness of the second luxury, the demand is large, and the monthly transaction volume in the store is million. Later, the live broadcast model rose, and followed the ** live broadcast and cooperated with the second luxury talent, and the performance has been significantly improved......”
The manager of Angeli also expressed the feeling of "growing together with **". 2011 is the beginning of the mobile Internet tide, and it is also the beginning of the mobile phone era. In this year, Angeli opened the first online luxury care store (Zhuo Yinfen 2599), relying on ** traffic to incubate explosive models, and the order volume has shown a long-term growth trend. In 2018, Angeli tried to broadcast live on **, and successfully created a personal IP image "Brother Tian" within a year. He said: "Thank you very much for the support and help of the first platform, and we will definitely stick to our original intention in the future, serve customers and serve the industry." ”
In the process of interviewing the leading second-luxury merchants Shengtang Youlu and Angeli, the author found that the second-luxury merchants have formed a "value resonance" on the ** platform, and the resonance points are mainly concentrated in the following three points:
First, it comes with huge traffic, high conversion rate, and good use of marketing strategies to support second-luxury merchants to acquire customers. As the largest e-commerce platform in China, the total number of monthly active users of apps in the second quarter of 2023 has approached 87.7 billion, which means that second-luxury merchants can get a lot of traffic on the platform.
*As an e-commerce platform, it has a strong "purchase" tool attribute, and the ultimate goal of most users on the platform is to "buy". Compared with other content platforms such as short **, on the basis of the same traffic, it shows the characteristics of high conversion. At the same time, ** is a tool used by many consumers to compare prices, it is understood that during this year's double 11 the frequency of use of Pie Tao products **159%, in addition to taking photos to search for goods, screenshot search is also becoming more and more. Among them, there are screenshots from film and television dramas, grass planting communities, and many screenshots from other e-commerce platforms.
At the same time, as the head platform of the domestic e-commerce industry, it has rich marketing strategies and mature marketing plans. On the user side, use activities, discounts, coupons and other methods to stimulate user consumption; On the merchant side, ** use live broadcast traffic incentives, marketing resources and other methods to help merchants attract more users and increase sales.
Interestingly, in order to continue to attract investment and cultivate small and medium-sized businesses, various service provider policies have been established, such as: cash incentives for service providers, exclusive marketing traffic support, and exclusive 1v1 operation support for small and medium-sized businesses. To put it simply, give money, give people, and give traffic to help businesses grow.
Second, platform endorsement and technical support to enhance the trust of second-luxury merchants. Users' trust in the platform is often transformed into trust in merchants, and with a wide user base and good reputation, second-luxury merchants can enhance their trust with the help of brand awareness and reputation.
More importantly, behind the first-class mobile payment, logistics and distribution, intelligent recommendation and other services is a strong technical system support, a stable technical system to ensure the safety and smooth progress of transactions, two luxury merchants with the help of the platform technology system, to provide users with a safe and convenient shopping environment, to further enhance the user's trust in it.
Third, all-round and diversified sales methods and reliable transactions and after-sales guarantees help second-luxury merchants better communicate with consumers.
Before the transaction, ** provides live sales, store sales and other ways for second-luxury merchants, and second-luxury merchants can display products, product features, and usage methods in a variety of ways, and interact and communicate with consumers in real time.
At the time of the transaction, Alipay will be set up to guarantee the transaction and the transaction dispute resolution mechanism to ensure that the consumer's payment funds will not be directly transferred to the merchant before the purchase is confirmed, and to resolve the dispute between the buyer and the seller in a timely manner, so as to provide a safe trading environment for the second luxury merchants and users.
After the transaction, we will provide mature after-sales service to help second-luxury merchants establish better after-sales communication channels with consumers, and enhance consumers' loyalty to second-luxury merchants.
In short, the second luxury consumption is a trust transaction, the second luxury platform should not only use a variety of ways to attract users, conquer users with products, but also create an atmosphere of trust, so that platform users are happy, worry-free, and at ease consumption, and in this regard, it is obviously "higher" people.
**Two luxuries and a small step, a big step for green consumption
As the largest e-commerce platform in China, it will continue to attract investment and cultivate small and medium-sized businesses in the second luxury, actively expand the number of high-net-worth people in the second luxury, and promote the development of the second luxury market, while also promoting the high-quality development of green consumption.
Traditional second-hand luxury goods trading often has problems such as high transaction threshold, information asymmetry, low circulation and conversion rate, etc., through the promotion of the platform, attract more consumers to participate in the consumption of second-hand luxury goods, and promote the popularization of green consumption.
Perhaps, like the author, many people's perception of luxury goods often only stays at the brand level, what style is suitable for them? What styles are cost-effective? It's often confusing. This year's high-explosive second-hand luxury live broadcast can solve this problem to a large extent.
In the live broadcast room of many of the top luxury experts and stores that I follow, the anchor has a very strong professional quality, not only introducing the various products themselves, but also sharing information on relevant maintenance, identification and even value preservation. Moreover, the perfect after-sales guarantee system of the platform itself can be assured for consumers. All in all, thanks to the continuous development of the platform, the threshold for ordinary people to buy second-hand luxury goods has been lowered.
It is foreseeable that relying on its own strong service capabilities, it will continue to make breakthroughs in the field of second-luxury consumption, realize its own large-scale services, and help second-luxury merchants standardize transactions, while also promoting the upgrading of the entire industry and the upgrading of consumers' sustainable lifestyles.