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Luster-Jewelry actively embraces change and explores new opportunities

Driven by the 5G era and the epidemic background, the live-streaming e-commerce industry will emerge as a new force in 2020. According to the research Report on the Ecology of Live Streaming E-commerce in China (2020) by IRUI Consulting, the transaction scale of domestic live streaming e-commerce is expected to grow from 451.3 billion yuan in 2019 to 2,854.8 billion yuan in 2022. The proportion of live-streaming e-commerce in online shopping is expected to rise from 2019 to 2022.

Jewelry Live user analysis

Preferred items and offers

According to the survey data of China Consumers' Association, the main reason why consumers choose to watch the live broadcast is that they want to know the detailed information of a certain product and preferential information of merchants' activities through the live broadcast, respectively accounting for the proportion and the proportion.

The cost performance and liking degree of products are the key factors for shopping decision-making. Through watching the live broadcast, the reasons for shopping are as follows: high cost performance of products, favorite products on display, preferential price, and time-limited and limited discount.

In general, the main reason to attract consumers to decide to buy is the cost performance and price of the product itself.

Live streaming users are getting younger

The user structure of live broadcast e-commerce shows obvious characteristics of youth. Therefore, jewelry brand layout of live broadcast with goods needs to pay attention to young people's preferences, integrate into the communication context of the young generation, further get close to young consumers and expand brand awareness.

We will focus on light luxury consumption

According to the data of iiMedia Research, in 2019, The proportion of Chinese consumers will choose the products from 501 to 1000 yuan, and the products from 2001 to 5000 yuan, and tend to choose the jewelry from 1001 to 2000 yuan, while the proportion of Chinese consumers will choose the jewelry above 5000 yuan. Chinese consumers are still structurally dominated by light luxury consumption ($300).

To love and marriage needs

According to Data released by DeBeers, 28 percent of consumers buy jewelry for courtship or wedding rings, while 30 percent buy jewelry for confession or anniversary gifts.

The proportion of self-reward is 27%, and the proportion of other gifts is 16%. Therefore, the consumption motivation of diamond jewelry is about 58% (marriage + love) in total, and the consumption frequency is still relatively low.

The low standardization of jewelry products, the high unit price of customers and the lack of intuitive feeling all restrict the online sales of jewelry products. The characteristics of direct broadcast e-commerce, such as strong interaction, wide traffic flow and high cost performance, have solved retailers' pain points. But not stand in the wind tuyere can fly, different brand still needs to make detailed plan according to oneself actual situation.

Luster Jewelry is also in the live broadcast industry this year, headquartered in Guangzhou Panyu Da Luo Tang jewelry town, Luster Jewelry, set production, design, terminal retail as one. Harry Yang, general manager of Luster Jewelry, told reporters that foreign markets have been slow to restart due to the impact of the epidemic. Therefore, I began to try live broadcasting in direct e-commerce channels, and encountered problems such as live broadcasting scenes, consumer interaction and ambient lighting. As the number of live sessions increased, the team continued to replay the problem, all targeted solutions. At the same time, based on excellent professional knowledge, the real production and manufacturing process display, has been greatly recognized by consumers.

Although consumers are still cautious when buying more expensive products. However, the targeted explanation and communication on the live broadcast gained the trust of consumers. Customer service staff follow up and guide to the offline flagship store to learn about the product face to face. At present, for the jewelry industry, it is very suitable for the needs of the industry users to complement the flow resources and real experience by combining online and offline communication.

From manufacturer to "service provider"

With the rapid development of the live streaming industry, more and more businesses are constantly exploring suitable live streaming forms and contents. Luster Jewelry is mainly produced and manufactured, but in recent years, Luster Jewelry has carefully served the end customers. First, I set up an independent product development and design team to develop more than 200 new products per month, so as to ensure that customers without research and development ability can also be updated on time. This is very important for the e-commerce industry, as consumers and platforms are generally concerned about the merchants' ability to continue to gain new capabilities.

Luster Jewelry has upgraded its manufacturing environment in order to cooperate with customers in the production process. It is convenient for customers to direct the production process of products. Meanwhile, the concept of modular design and production is introduced, and the products are divided into main modules. Key products to do a good job of module stock, even during the big promotion can deal with the surge in sales. At the same time, the monthly new products are equipped with standard graphic information to facilitate online customers to choose new.

Upgrading from a manufacturer to a "service provider" is more about understanding the real needs of customers. In the current fast-changing consumer market, service has become an essential part of business activities. Meanwhile, good service is to empower each trading chain and to truly enhance the value of products.