Yu Xiaohui, who has more than 20 years of experience in the furniture market in the United States, decided to play a different concept in this era of Internet + home change.
"In the US market, because IKEA has always focused on physical store sales and neglected online sales, it has been overtaken by local emerging home e-commerce brands Wayfair and Overstock." Yu Xiaohui pointed out to reporters. The reason is that the physical store model has to bear expensive rents, lengthy supply chains, and slick space decoration, resulting in an increasingly uncompetitive pricing mechanism and customer experience; in contrast, Wayfair and Overstock take advantage of the e-commerce model. Winning more and more American consumers.
At present, traditional home retailers such as Pottery Barn and WestElm in the United States have begun to increase investment in network platforms, which has confirmed to some extent the huge development space in the future of home online shopping. At the same time, domestic home furnishing enterprises have also undergone changes. The old-fashioned home chain store Red Star Macalline has launched a new home retail store. Alibaba has also opened its first home-based consumer experience in the smart home experience hall in Hangzhou. .
Although there is a certain difference in the consumption trends of the home market in China and the United States, the new home retail business model that is fully integrated online is still a major trend. How to fully absorb the superior experience of China and the United States and explore a new business model suitable for the beautiful home, Yu Xiaohui made a special in-depth study on the online mode and development path of American home online, and began to explore Internet-based e-commerce O2o mode of Chinese-style home new retail business model.
American home e-commerce business model
Take Wayfair as an example. It has stood out in the highly competitive US home market and has even become a leader in the US home electronics business, with four major DNAs.
First, the excellent customer experience, based on customers prefer to compare the style and price of different home brands, Wayfair adjusts the marketing strategy in the early stage of development - if users order home on Wayfair platform is the best, if the customer has other choices, Wayfair platform will be based on The user clicks on the information and recommends that the user go to a nearby home store to purchase, thereby maximizing the user's personalized home demand, thereby attracting more and more traffic.
The second is to fully use the e-commerce model, there is no physical store (you can recommend users to other brands store to buy), so that you do not have to bear expensive rents, lengthy supply chain and store space decoration costs, thus providing users with more cost-effective products. Pricing to maximize the flow of traffic.
The third is to establish a diversified logistics system. In addition to cooperating with logistics companies to expand the logistics business of large-scale brand home suppliers, Wayfair has set up its own specialized logistics warehouse, which does not charge storage fees for different household enterprises' commodity storage, thus attracting more and more Multi-home enterprises enter the platform to expand user choices.
The fourth is to carry out big data analysis and user portrait modeling. In order to accurately understand the user's home needs and provide targeted purchase suggestions, Wayfair sorts out the purchase records of different types of users in the past, thus sorting out many home design purchase plans, which can be based on users' Click on the traces to judge his home needs and provide a highly targeted solution.
However, there seems to be some variation in whether the corresponding strategy can be replicated in the Chinese market. The reason is that first of all, China's home market is a low-stakes, high-involved industry, that is, Chinese consumers will not pay attention to the home without demand. Once there is demand, the whole family will choose to purchase, which leads to home. The purchase suggestions and diversion strategies of the e-commerce platform were “weakenedâ€. Secondly, Chinese consumers generally have low awareness of home style and low demand for style. Therefore, they rely more on physical store guides when choosing homes. This has caused the furniture industry to be extravagant, light, practical and aesthetic. The phenomenon, but it just brings a natural development space to the new home retail model.
"Comparatively, the new retail model of home e-commerce will have a large room for development in China." Yu Xiaohui pointed out. First, its online diversion, offline procurement mode, effectively share the operating expenses of physical stores and other expensive expenses, and secondly, it has greatly changed the functions of physical stores - in the past, people always regarded physical stores as sales stores. However, under the new home retail mode, it can also be transformed into a user experience center and a logistics center. The former attracts users to experience offline orders and share the operating costs of physical stores. The latter allows physical stores to effectively speed up product turnover. Improve the efficiency of business operations.
“The new retail home experience museum of the beautiful home is not so much a solution to the practicality and modern aesthetics of home purchase. It is better to create a brand new customer experience, namely innovative design, precise service, excellent quality and reasonable price. The fusion." Yu Xiaohui said frankly.
New home retail
As one of the leading figures in China's textile and soft-pack furniture, and one of the key drivers of Chinese furniture to the US market, Yu Xiaohui successfully promoted Chinese furniture, home textile fabrics, leather and soft-pack furniture to the US furniture market, and opened up the US and China. The channel for communication in the furniture industry. She has been in the Chinese and American furniture industry for more than 20 years, and is well versed in the new consumption trends of the world's fashion homes.
First of all, in the rise of domestic home OEMs, when most domestic home furnishing companies have no foreign trade awareness, she will build an international team and invest in building factories, strengthen home product research and development, create fashion trends, and improve product quality in North America. The market has made a difference and has become a supplier to most of the top 100 brands in the North American furniture market.
Secondly, as domestic home furnishing companies compete for the domestic market, she took the lead in proposing the concept of indoor private customization, creating a high-end fashion home brand, a beautiful home, and a personalized and differentiated development model, from color, materials, The change of decoration creates a unique home, which is recognized by the wealthy consumers such as Yu Yuxi and Wei Zhe. This is also the beginning of her exploration of the new retail business model of Chinese-style home.
“The beautiful home adopts online sales and offline to experience the new retail business model. It fully integrates the powerful resources that Xiaohui has accumulated in the North American furniture market for more than 20 years, positioning the target consumers as the new generation of consumers, and redesigning them. The products that are healthier, more environmentally friendly and cost-effective are dedicated to creating a pleasing, safe and comfortable living space for Chinese consumers, bringing a new life aesthetic experience to Chinese families.
Nowadays, the overall consumption upgrade introduced by the mobile Internet era is coming, and the consumption scene is constantly changing. Yu Xiaohui suddenly realizes that the new home retail model based on the shared economic concept is likely to change the entire home industry territory. Therefore, the beautiful home has undergone an overall strategic upgrade, mainly in the following aspects:
From private customization to home fast fashion. Inspired by the haute couture, the beautiful home is locked in the elite of the pyramids, over the traditional panel furniture customization and interior design, to create a working and living space for the wealth layer. In the era of sharing economy, the beautiful home proposes the concept of home fast fashion, the production of household products with the idea of ​​fashion single products, serving the general public, allowing more consumers to develop home dressing habits.
From product sales to life aesthetics. From modern fashion American home products to life aesthetics leader brands, the beautiful home not only sells products, but also wants to sell a life aesthetics concept and substantiate consumer education.
Use the shared economic thinking to change the function of the physical store. Transforming from traditional sales platforms to quality of life service platforms to increase traffic and user attention. At present, all the brand experience halls of the beautiful home are open to the public. All consumers can use the beautiful home experience hall as their own living room for salons and meeting guests.
Of course, there are many internal strengths that enterprises must practice.
Yu Xiaohui revealed that on the one hand, the beautiful home needs to deploy a team of designers with international fashion resources and establish a professional large-scale modern factory, thus eliminating the lengthy industrial chain to reduce production costs and achieve high cost performance of household products. It is necessary to strengthen the environmentally safe production of homes. At present, the home textiles and sofas produced by the beautiful home are also co-branded household goods, whether it is wood, paint, textile fabrics and leather, or the filling inside the products, and the hardware used for decoration. Parts are in compliance with the American Society for Testing and Materials (ASTM) and the US Consumer Product Safety Commission (CPSC) standards.
"If we can grasp the pain points of users' home environmental protection, first spread the knowledge of home environmental protection on the Internet platform, consumers will notice these problems when they shop online, which will drive the development of the entire O2O model," she pointed out. This will also benefit home suppliers that meet the higher environmental production labeling, and drive the industry to have good money to drive out bad money.
Copy the explosion model?
To successfully implement the new retail model of home e-commerce in China, sometimes it is necessary to rely on Internet thinking - such as the explosive product model.
"In the American home furnishing industry, there are often explosive products." Yu Xiaohui pointed out that this is mainly because the American household retailer's commodity department or design department has gathered a large number of professional buyers, according to the latest trend of consumer demand for home, Will purchase the corresponding new products from various home suppliers, and participate in marketing and pricing strategies, so the new products recommended by these buyers, many times when they are available, have been welcomed by many consumers, becoming a popular explosion of home products. .
“I have always planned to introduce the buyer model in the Chinese home e-commerce o2o model, and use their insights into the needs and style changes of Chinese users to find the most popular, fashionable and cost-effective safe and environmentally friendly household products. Paired with the beautiful home's own sofas and other products, which led to the O2O model to create greater results." She pointed out. At present, he is a buyer of the beautiful home. From the United States, he introduces house lamps and other household items to carry out different styles of home design matching, as a propeller for the O2O model.
The beautiful home has designed itself and has started multi-faceted cooperation with senior American brands. For example, the century-old high-end brand Flexsteel, Bernhardt, the new fashion designer brand DwellStudio and other furniture brands have joined forces to quickly launch a pleasing, safe and comfortable modern American-style furniture with the American market.
However, in the eyes of the industry, this mode of operation of o2o has made the business process of the beautiful home become "heavy." In contrast, Wayfair in the United States adopts a light asset model of platform operation—that is, home suppliers set their own sales prices and product types and are responsible for their own profits and losses. Wayfair does not hire buyers to implement commodity purchase underwriting, but creates traffic and The supplier is charged the corresponding customer operating expenses to obtain a higher market valuation.
"But my dream is to adopt the business model of online sales and offline experience O2O, so that consumers who love beauty and love quality in China can enjoy the elegance and aestheticism brought by the world's top designers without going abroad. Peaceful, healthy, safe and full of connotation, the new experience of home life aesthetics." Yu Xiaohui told reporters. At present, the Chinese home furnishing market lacks similar brands with strong fashion, high credibility and high cost performance, and this is precisely the biggest fundamental for the rapid development of the new home retail model in China.
Editor in charge: Zhu Ling
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