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Bulgari CEO: The traditional way to go in China is not successful

2017-08-09 14:27:51 | 日記
2016 report said: only less than 10% of the luxury goods involved in WeChat electricity, Bulgari as one of them, at the end of July last year, Tanabata to see the sweetness of the following: in the WeChat boutique limited starting bvlgari Divas’Dream necklace replica The Bulgari constantly in the Chinese market, new attempts and innovation is obvious to all. Recently by Hurun Report in 2017 as China’s top ten luxury luxury top ten Following the new list last year ranked ninth this year rose five ranking straight to the fourth, as “the best performance” luxury. JingShi Media’s partner LuxurySociety interviewed Bulgari’s CEO Jean-Christophe Babin to explore its global strategy in the Chinese market, including:

1. Why does Bulgari continue to innovate on the electronic platform?

Past experience has shown that electronic platforms are particularly important in large countries. why? Because Bulgari is a luxury brand, we will not open 200 stores in a country. So in big countries like the US, China, Canada, Australia and Russia, most potential customers will have an average of five hours from the nearest boutique. So electricity is not just a useful tool, but a necessary tool. Lost the electricity business, it means that the loss of a large part of the potential customers.

Consumers buy luxury goods is still impulsive consumption, even if you go through a thoughtful way to spend a thousand euros to buy a watch ready, if one day you fall in love with a Bulgari watch, most people still want to immediately buy.

(The role of electricity providers here), its presence allows customers to buy anytime, anywhere If you want to buy on Sunday night, and boutiques away from you, you can buy it directly. (If there is no electricity business), then the next morning you are likely to forget this thing.

2. Bvlgari on the WeChat strategy

(The first in the United States and Japan’s electricity business) platform is very old, probably introduced in 2009, so we have to redesign, completely transform our platform. The new platform is very convenient. Especially in the payment process this piece, many customers choose things online, to the time of payment found too much trouble do not buy. So we have been promoting our new platform, want to teach customers how to use this platform. We first launched this platform in Japan, and then plans to launch in China next year. (In terms of electronic), our strategy to start in China is particularly successful. Some countries, such as the United States need traditional electric business, but in China is entirely micro-dominant. It is not successful to take the traditional path in China.

3. on the Bulgari’s business strategy

Online sales still account for a small portion of overall performance, especially for per-share sales. (Low-end products in terms of), if the perfume sales removed, jewelry sales online line is the same. Or subdivision point, more than 20,000 US dollars of products, people tend to buy in the store, but the twenty thousand in fact the line is not much difference online.

4. Compared with other countries, Bulgari’s media investment strategy in China?

Chinese consumers have abandoned many traditional ways, not just the media, more traditional information systems. There are not many newspapers in China, and no one will always look at the daily newspaper. Most Chinese people get information online. I am referring here not only rely on the Internet, not on the Tablet PC, but on the phone. So it is clear that in countries like China, if you want to improve brand visibility, you have to invest a lot in digital media, because your audience is on the number of media.

Russia is the opposite of China. Everyone in a traditional atmosphere to learn to grow up, people will read a lot of books, magazines, the presence of digital media is very small. So it would be a mistake to invest 50% of the budget on Russia’s number of media, because most viewers would expect you to appear on TV or magazines.

I think the brand really must adapt to different markets, the development of each country’s digital media into account.

The development of Brazilian digital media, to some extent, is beyond our expectation. And the situation in China is somewhat like, the Brazilians skip a lot of traditional information, there are many Brazilians rely on mobile phones.

The United States is the top five countries. If you spend 30% of the budget on the electronics, it is not enough now Everything is growing fast, you have to keep up with the trend.
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