The 260 million young people who like to get together can save the tide brand?

The original soundtrack new retail business reviews are included in the topic #品牌42#新consuming60

Author: Xiangma, Special Commentator of New Retail Business Review

"Every small category will give birth to a great company."

Good text 4,318 words | 7 minutes to read

The title picture comes from the movie "Play Back To School 2"

The changes of young people have attracted the attention of more brand businesses.

At the Yabuli China Entrepreneurs Forum 2021, "Pig Raising King" Liu Yonghao said bluntly: "Consumers have changed. Post-90s and post-00s have gradually become the main consumers. Their consumption scenarios and consumption channels are completely different from the past."

On the same occasion, Wang Ning, the founder of Bubble Mart, expressed this change more concretely. He believes that "the difference between contemporary consumers is that they have become a small tribe, each tribe has its own'social currency'".

Some tribes use sneakers, some tribes use tide play, some tribes use games, and some tribes use Moutai. In Wang Ning’s view, different tribes have their own "social currency" to solve social needs, show off needs, and satisfy Demand, collect demand.

The tribalization of consumers is a unique phenomenon of new consumption, which has a profound impact on consumers themselves, brand merchants or platforms.

The question is, how does the Chinese fashion brand, which takes focusing and leading young people as its mission, respond to this change?

Rising tide

Wang Ning's "contemporary consumers" refers more to the Z generation group that Pao Mart cuts into.

The so-called generation Z can be roughly defined as people born between 1996 and 2010, including those born in 1995 and after 00. According to data from the National Bureau of Statistics, there are as many as 264 million people in Generation Z, accounting for about 19% of my country's current total population.

The point is that most of the domestic Z generations are only children. Compared with those born in the 70s and 80s, they have more personality and love freedom. The loneliness in the growth process has prompted them to rely on online channels to seek more recognition.

According to the "Gen Z Social Report" released by Soul, nearly 90% of Gen Z users feel that their circle of friends is narrow and hope to expand their circle of friends through social software.

The rapid development of the Internet has contributed to the tribalization of Generation Z. Relying on consumer insights, algorithms, and AI technology, Internet top platforms not only enable them to have "almost zero time difference" with the most cutting-edge international sports, entertainment and fashion information, but also quickly help them find their own community.

Just as a fan can quickly join the "fan circle" through Weibo "square", "chaohua", celebrity support groups, studios, and official Weibo channels, a generation Z consumer can also find trendy entertainment circles and e-sports circles through the Internet. , Hanfu circle and other circles of their own, participate in the establishment of a certain orderly community.

Source: CBNData "Generation Z Circle Consumer Report"

Don't underestimate such a circle, its consumption power is amazing.

According to the media, because it happened to be born in an era of rapid economic growth in China, with abundant material life and more inter-generational wealth inheritance, the consumption power of Generation Z should not be underestimated. According to Tencent's 2019 data, the generation Z's back wave contributed 40% of the overall consumption.

Take the Hanfu, Lolita skirt and JK uniforms, which are also known as the "Three Sisters of Bankruptcy," as examples. In 2020, Tencent released the "Post-00 Interest Report" that these three occupy the top three hot topics of Generation Z, and there are some 62% of post-00s are “willing to invest more time and money in their fields of interest”.

After 00, real money came out. According to IT orange data, the overall market size of Hanfu, Lolita skirts, and JK uniforms in 2019 will reach 13.52 billion yuan. The market size in 2020 is expected to be 16.957 billion yuan, and the market growth rate will exceed 20%.

In addition to the "Three Sisters in Bankruptcy", Generation Z's pursuit of trendy clothing has also made many brands shine.

In the face of Generation Z, Alimama’s "Double 11 Investment Guide" once pointed out the "Five Major Consumer Truths", and the first item is "Extreme Trending". When consuming, Generation Z is more personalized and willing to express their attitude by catching up with the trend.

It is worth noting that this is not just a way of consumption, but the consumption sovereignty of young people is fully demonstrated, and thus guide brands to seek new changes.

For example, the GOTO brand from Guangzhou launched a sneaker storage box specially designed for trendy shoe lovers. During the marketing process, they found that consumers tended to a complete set of shoe repair solutions. Later, the trendy shoe storage box was no longer limited to storing shoes, and new species of trendy brands such as the blind box figure gave birth to more possibilities under the impetus of the younger generation.

Chen Zineng, also the founder of GOTO, who is also Gen Z, admitted: "It is users who are'teaching' us to develop products." It took only one year for GOTO to become the Top 1 in the subdivision industry from entering Tmall.

The trend is here, and whether you can enjoy the huge dividends brought by generation Z consumers is a key issue for Chinese fashion brands.

Into the circle

A marketing report pointed out two key points of circle marketing, one of which is to "build brand culture and promote circle culture integration." In other words, the brand needs to "enter the circle."

In fact, many brands are struggling to attract a certain circle of people. Among them, Li Ning's style of play is quite typical.

With the help of the "East Wind" of Guochao, Li Ning has continuously adjusted its business strategy and gradually focused the main consumer groups of the brand on Generation Z.

Research by Zheshang Securities shows that the main consumers of China's Lining are between 18 and 25 years old. The post-95s and post-00s have a significantly higher awareness of China's Lining than other age groups. China's Lining is also priced at 1,300 to 1,400 yuan. Help the Li Ning brand to regain its position in the most central business district of first-tier cities.

This change is due to Li Ning's attack on different circles of young people, and the e-sports circle has the most eye-catching performance.

According to the "Generation Z Consumption Report" released by the Business Data Center of China Business Data Center in conjunction with Tmall and Huya, more than 60% of e-sports enthusiasts are Generation Z.

Source: CBNData "Generation Z Circle Consumer Report"

For this reason, in 2019, Li-Ning Holding Co., Ltd. Feihua Sports spent hundreds of millions of yuan to acquire the League of Legends club Snake and renamed it "LNG E-Sports Club". The trendy brand LNG incubated by Feihua China also adjusted its focus to target the Z generation group. .

Analysts compared the clothing when LNG was first launched in 2010, and found that the brand concept and design are quite different from today's: the previous LNG focused on design integrating sports trends and outdoor scene elements, while today's LNG focuses more on the use of products The expression of the content strongly conveys the e-sports, function, Y2K art and two-dimensional culture that the Z generation group loves.

"With the help of product content expression" is indeed LNG's distinctive strategy.

In an interview with New Retail Business Review, LNG General Manager Yu Huishuang revealed that several product lines of the brand are developed around the ACG culture loved by Generation Z and are directly presented in product details.

In co-branding with the Japanese animation "Demon Slayer", which is popular among young people today, the Yu Huishuang team abandoned the "traditional practice" of putting relevant pictures on clothes, and replaced the cultural aspects such as passion and craftsmanship behind it. The things that permeate into the clothing design and re-creation, such as designing the pattern of the sword hilt of the "Demon Slayer" on the fabric, allowing the factory to customize the process to form uniquely designed products.

These methods have worked well, and the joint product of LNG and "Demon Killing Blade" was launched this spring, and the sales were booming.

Yu Huishuang said: "LNG is still in the stage of'branding', and the goal is to quickly establish the genes of the'leader' of the LNG brand's future trends in the minds of Gen Z. The brand content and product output can be triggered. Their emotions resonate and enter their circle."

For the brand’s entry into the circle, the trendy brand FYP, which focuses on the street concept, also puts great effort on the product. By analyzing user preferences, improving products and updating iterations, they have incorporated rebelliousness into the practical street outdoor product design in the past, and continue to output "We are who we are" trend culture and brand values.

Like other trendy brands, LNG and FYP use co-branded products and special plans to establish emotional resonance with Gen Z, especially a certain "tribe", and release their consumption power.

For consumers, purchase is expression, and consumption is attitude; for brands, finding the point of fit with consumers, accurately positioning, and presenting their unique cultural expression is the most challenging aspect.

Out of circle

The marketing report believes that the second key point of circle-level marketing is to "lower the cultural threshold of circle-level culture and take'out of the circle' as the core goal."

However, New Retail Business Review interviewed many brand merchants, and most of them valued whether they can really penetrate a certain circle, so that they can accept, love and even spread themselves, and "out of the circle" will be a natural thing.

Yu Huishuang analyzed: "The so-called exiting or breaking the circle, to express more accurately, is not to break through your own circle, but to attract people who do not belong to this circle to this circle through their unique emotional value attraction. In fact, it should be a process of'expanding the circle', attracting people from outside the circle, the circle will naturally gradually expand."

In fact, this is the case with Supreme, the "supreme" street fashion brand. While attracting the attention of young people with the expansion method of "everything can be fashionable", it also relies on many trendy celebrities, celebrities and Internet celebrities around the world to act as "walking advertisements". "Brand" has attracted consumers all over the world.

Supreme's advance in the international market has contributed to the increasingly developed Internet. In China, the development of the mobile Internet can be regarded as leading the world, "plugging wings" for the brand to go out of the circle.

An interesting example comes from COCO, the owner of Taobao after 00, who switched from selling wigs to selling Lolita skirts. Once, on social media, buyers posted a video of picking up plastic bottles in their clothes. The result was a "fire". The strong contrast attracted more netizens to place orders, and the clothes in the store were sold out.

As the shop owner, COCO called this experience "going astray." The production of hot styles is closely related to the traffic brought by contrast, but she believes that for Lolita skirts and other two-dimensional products, "good design is the core password of hot styles."

FYP principal zunhagee holds a similar view: "In the final analysis, as a brand, innovation and quality are the core competitiveness."

Allan, the principal of the new trendy brand PSO Brand, also said: “Online, consumer word-of-mouth and consumer purchases are based on quality. People cannot pay for a poor-quality T-shirt or a poor-quality pants. For loyal consumers, we need good quality to reflect the brand’s sincerity."

Quality is the "basic disk" of trendy brands, which has become a consensus. Trendy brands continue to improve their "core competitiveness" such as innovation and quality. The purpose is to strengthen the activity and stickiness of consumers, which is inseparable from the empowerment of the platform. .

In this regard, Tmall relies on its nearly 200 million generation Z users and consumer insights to increase the volume of fashion brand brands and expand sales. It also promotes its out of the circle through live broadcasts and node promotions. It also shows from store fans to brand membership building. Super strong brand business management capabilities, and the second growth curve is rapidly established.

The latter is the most popular private domain bonus for brands right now. According to media reports, as of June 16th, brand merchants had added nearly 60 million members during June 18 this year. More than 50% of the transactions of some brands came from members. Tmall flagship store has become the best private domain.

It's not just brand empowerment. As the main driving force of China's fashion brand ecological construction, Tmall has been deeply involved in it for a long time.

Since 2011, heavyweight fashion brands such as EVISU, IT, Aape, and Carharrt WIP have successively landed on Tmall; in the summer of 2016, Edison Chen brought his fashion brand CLOT into Tmall, Wilber Pan, Li Chen’s NPC, Axin and Domestic trendy brands such as STAYREAL, a famous illustrator, have also set up their first online flagship stores on Tmall.

In the past two years, luxury has flooded into Tmall. Balenciaga, Kenzo, Acne Studio, etc. have flooded in. BAPE, Undefeated, Thrasher, etc. have joined forces with Tmall to accelerate online integration, with more than 5 million loyal fans and originating in the United States. "Strong Sneakers Exhibition" Sneaker Con not only settled on Tmall, but also launched a sneaker trend exhibition jointly with Tmall, which set off an upsurge in China.

On the eve of 618 this year, Chen Weiting and Huang Zitao’s leading brands CANOTWAIT and YKYB also entered Tmall, competing with more than 1,000 trendy clothing brands on June 18.

In this way, the circle culture created by the joint efforts of Generation Z consumers and fashion brand merchants, and the platform culture of Tmall, have helped push the hundreds of billions of fashion brand markets forward and break out of the circle.

Allan admits that it is relying on the comprehensive ecological content system of Taobao and Tmall that PSO Brand has been able to gain continuous rising brand influence. "So far, the entire network has more than 2 million fans, and the annual sales volume of single products on the entire network exceeds 2.5 million."

At this point, generation Z consumer groups, fashion brands, and platforms have formed a virtuous circle.

The original driving force of "circulation" is obviously the needs of young people, but this kind of demand, changeable and perceptual, always tests the brand's innovation ability and strategic determination.

At the Yabuli China Entrepreneurs Forum, Wang Ning imagined that the trend of consumer tribalization will cause obvious changes-"Every small category will give birth to a very great company, and each small category can have its own very high degree of user love. ."

Which Chinese fashion brand will stand out? Time will give the answer.

Reference materials:

1. "Post-subculture circle, the "new tribe" of the network society", Yangtze Evening News

2. "From "Killing Matt" to "Ghost Animals", what is happening in China's online "subculture" circle? ", Ban Yue Tan

3. "The rise of Generation Z, this is an investment cheat that cannot be ignored! National trend, light medical beauty, circle culture, punk health...Look at the investment logic behind bull stocks", Brokers China

4. "The Big Report on the Consumption of Generation Z Circles", CBNData Consumer Station

5. "I haven't been nomadic in a few circles, I dare not say that I am a post-95", New Weekly

6. "Li Ning Company has hatched a trendy brand! How does LNG sharpen its sword in ten years? "Luxe.Co

7. "After 00, Taobao sells lo skirts with an annual income of 30 million. How can the two-dimensional goods explode in the youth circle? 》, E-commerce Online

8. "Chinese fashion brands that enter the market with quality, stand up! ", TopMarketing

9. "Top fashion brands join hands with Tmall, the 100 billion fashion brand market ushered in a breaking circle", 21st Century Business Herald

Come on, which street fashion brands have you bought? Where does it appeal to you?

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Original title: "The 260 million young people who like to get together can save the trendy brand? 》

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