Secoo digs gold in blue ocean of high-end consume service
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E-mail China.org.cn, July 14, 2016
"The luxury goods industry facing wintry chill is a false proposition. This industry is not in depression, it's rather escalating." Li Rixue explained that, in the past, consumers might save money to buy shoes or bags, but now they might spend a big amount of money to go to the South Pole to ski, or to the North Pole to see the Aurora borealis, they could spend 50,000 yuan to buy a skiing equipment, or they could spend almost 100,000 yuan for a bike.
"It's not that the consumers don't spend money anymore, but the scenery, the way and the interest to spend money has changed." Li Rixue believes that, what the luxury goods industry, or Secoo, should do, is to adapt to the consumers changes, even before the same consumers know that, then offer them the relevant goods and services, satisfying their demand.
To suit this modification, Secoo has set up a large digital system, gathering the users' consume behaviors and preferences, in order to offer them personalized information and follow-up services.
"Secoo's big backstage system is able to discern among different customers, carrying out services classification and accomplishing the customization." Li Rixue gave an example: if one client often buys painting and calligraphy on Secoo, it's possible that that person is Ma Weidu (calligrapher, translator's note); one client that often buys watches online, could be a watches brand marketing agent; when delivering goods, we could drive a Benz because that day is that customer's birthday.
And this kind of strategy's underlying value is also not only satisfying the consumer's only need of changing scenario, but it is an opening to the high-end consume environment.
Identify big data + increase the service value
The two main problems that the luxury goods industry cannot bypass are authorization and authenticity. In the past, the fact that JD did not obtain Tissot's authorization already lead to a controversy; however according to Li Rixue today's brands cannot renounce anymore to the online channel. Currently, there are already 10 front line brands cooperating with Secoo, whereas the luxury products agents and traders are even more.
"Currently, Secoo has already started to cooperate with front line brands, releasing exclusive custom made models, proving that the value-added service carried by Secoo to the brand already obtained the brands' approval", said Li Rixue.
Besides, Secoo's platform gives a plus to the brands: for those that have not entered the country, it offers the value-added service that the brand itself couldn't provide to the consumer. Let's say that a customer wants to purchase a private airplane. This client already spent around five million yuan on Secoo. This time, Secoo has given him a ten million yuan credit, letting him paying for this airplane in installments. This airplane is insured by Secoo's investments, and is also delivered for free to Shanghai, therefore the customer and the Airplane company really support Secoo.
In particular, to be worth mentioning is that Secoo's Authentication Centre in the past 8 years accumulated huge volumes and certification techniques using custom-made precision instruments, increasing its accuracy and efficiency. At the same time it collects commodities standard data to set up a database, and through big datas comparison it conducts smart identification and long range evaluation. The exploitation of datas and smart technologies to provide luxury goods services will surely be the future main point in this domain. Obviously, Secoo stands at the very front.
It is known that Secoo Authentication Centre is the only luxury goods authentication centre of Chinarecognized by the government especially for the March 15 event of the e-commerce trustworthy platforms, and it's also China Certification & Inspection Group's strategic direction and technical cooperation unit, providing a professional and standardized service in the identification of luxury goods.
We could say that Secoo did its utmost establishing an authentication authority. In Secoo's identification system, the appraisers are divided into three levels, basic, middle and high: only to train a first level appraiser 3 years are needed. It is reported that Secoo's Authentication Centers in Beijing, Shanghai, Chengdu, Hong Kong, Shenzhen have also a luxury goods team. Among them, there are many senior experts hired from the United States and Japan's developed areas, whose overall experience in this field exceeds 15 years.
However, from Secoo's CEO Li Rixue point of view, having an authorized authentication centre is not enough: Secoo established "cross-border experience clubs" in Beijing, Shanghai, Chengdu, Hong Kong, Milan, New York and Tokyo, where consumers can sense the real merchandise objective and enjoy a sales service similar to the one of big brands stores. Li Rixue will position Secoo as "China's largest high-end consumes and services platform", through the development of each segment of the market, not only selling goods, but opening up services, becoming a powerful competitive advantage in the industry's eyes.
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