Market polarization, Chinese luggage brand breakthrough opportunity
The distribution of domestic luggage industry chain is reflected in the serious polarization in the market. First, the pattern of domestic luggage is generally low end line, weak brand power, low price increase rate, and the unit price is generally below 500 yuan. Second, overseas brands occupy the high-end product line, with unit prices ranging from thousands to tens of thousands of yuan, and the price increase rate is high. The disconnection of the brand has become a good opportunity for the development of domestic cost-effective luggage brands such as Hermes and 90 points. The sales of suitcases priced at 300-1000 yuan are hot. It is difficult to find a high-quality and cost-effective product in China. At present, the downstream consumer market is relatively fragmented. Consumers in the third and fourth tier cities are still in the process of consumption upgrading, while consumers in the first and second tier cities gradually tend to be rational and pay attention to cost-effective products and personalized products. Changing the business model and innovating product thinking are the key to further deepen the brand and expand the market in the domestic luggage industry.
Reverse consumer demand trend promotes product line upgrading
The traditional luggage industry is closely related to the development of tourism. The travel panic caused by the new crown pneumonia epidemic has brought a huge impact on the tourism industry, and also affects the tourism market. Travel-related products, including hotel accommodation, travel ticketing, and luggage, are also facing slowing sales growth. Commuting, going to school, shopping, and short-distance travel have become the main moving lines of people's life and travel, which has also changed people's demand for luggage. Therefore, luggage companies represented by Samsonite and Aihuashi brands have also adjusted their product production lines and product categories in a timely manner, and launched luggage products that are more suitable for life and travel, such as Aihuas business backpacks specially launched for business travel and business talks And the briefcase series was very popular during this period, and functional bags such as children's school bags also performed extremely well.
Online sales continue to rise, channel blessing to change.Another change of consumption habits to the luggage industry is reflected in sales channels. The total online retail sales continued to rise. Data shows that from 2014 to 2019, the overall online retail sales in the country increased nearly three times. Due to the impact of the epidemic, online retail has performed well in 2020, accounting for 23.6% of the total in the first quarter of 2020, a year-on-year increase of 5.4%.
Among them, live broadcast delivery has been particularly prominent in the past year. Its authenticity, real-time interactivity, and a sense of safe distance across the screen have met the strong consumption needs of people who are inconvenient to travel during the epidemic. The dark horse attitude has become the traffic portal that major brands have seized. Under the huge flow of traffic, there are many ways to join hands with popular anchors, the boss to end the live broadcast in person, and create a brand live broadcast room. The luggage industry has also tested the water live broadcast. Among them, luggage brands such as Aihuashi and Bremen have performed outstandingly. They have established good cooperative relations with Weiya, Li Jiaqi, Lieerbao, Sydney and other leading Taobao anchors, and achieved good reputation and sales. In addition, Aihuashi has also set up brand live broadcast rooms of Tao Department, Douyin and other channels to deepen interaction with users, which has been widely recognized by fans. It is this keen market perception and adaptability to change at the right time and adapt to change, which makes Aihuashi luggage become the travel companion chosen by over 50 million people.
The consumer group is younger, and cross-border innovation helps brands break the circle and grow
With the post-00s entering the 20+ age mark, the consumption power of the post-95s and post-00s has risen rapidly. As the aborigines of the Internet, they have become the backbone of online consumption. The consumption attributes of this group are also particularly obvious. They pursue practicality, are keen on domestic products, pursue individuality, and have strong cultural attributes of the circle. The huge consumption potential brought by "consumption for love" is constantly being stimulated, and this group of people is also It is a consumer group that major brands love and strive for. In order to cater to young consumer groups, major brands have successively launched measures such as personalized customization and IP co-branded products to win young consumers and maintain consumer loyalty with more accurate marketing and more prominent features.
In recent years, product innovation and marketing innovation triggered by cross-border co-branding in the luggage industry have brought new vigor and vitality to luggage brands. 90 Points has successively cooperated with film and television drama IPs such as The Wandering Earth and Tomb Raiders to create situational luggage products, showing a national trend style with local characteristics; Bulaimei joined hands with Disney IP to meet the personalized product needs of young users; Aihua The cooperation between Shi Luggage and Coca-Cola and Snoopy is also a successful attempt of IP cross-border, injecting classic trend genes into the brand. There is no doubt that cross-border co-branding has become a surprisingly successful trump card. The combination of classic IP and brand is even more eye-catching. The collision of different cultural circles not only breaks through the dilemma of product homogeneity, but also makes brands and young consumers. The emotional connection of the group is more stable.
Under the huge market scale, China's luggage market can be expected in the future
Under the premise of the steady growth of the national economy, the overall development prospects of my country's luggage industry are still optimistic. With the steady growth of per capita disposable income, it provides a basic driving force for the growth of luggage consumption; and branding and scale have become the general trend, China's luggage brand power has gradually increased, and the markup rate has steadily increased. Therefore, the next ten years will still be a golden opportunity for the development of China's luggage industry.
In the face of the consumer market suppressed by the epidemic, luggage brands are just taking advantage of the time to build up their strength. In the short term, taking advantage of the momentum of China's economy to pick up the first, domestic and foreign sales will be exerted at the same time to consolidate the sales strategy of "both internal and external"; in the long run, do a good job of yourself Homework, combine luggage design and manufacturing with international trends, produce high-quality, unique products, create distinctive brand characteristics, and develop more products that are popular in the market. Only by changing and adapting can we keep up with the pace of the development of the times; innovation out of the circle is the root of the brand's invincibility.
