Secoo (NASDAQ:SECO), China’s largest premium e-commerce platform, will cooperate with Parkson Retail Group to launch its ‘Goddess Festival’ shopping campaign from February 28 to March 11. This will be the two’s first commercial foray after forming a strategic alliance in January.
Continuing its strong moves with increasing market power and new market potential amid China’s luxury market revival, Secoo’s campaign now targets China’s independent and high-profile female consumers who are increasingly conscious about identity, financial status, and self-expression.
Earnings of Chinese female are predicted to reach USD 4 trillion by 2020 and the well-functioning female economy is highly likely to further boost general market performance as a whole. As China marks International Women’s Day on March 8 as a national holiday, retail groups will continue the tradition of launching shopping campaigns to boost sales in March. Although leading retail groups such as Alibaba and JD also actively participate, lack of proper offline resources limits the general retail enterprises’ potential in offering luxury experience. Secoo, by comparison, can flexibly leverage its partnership with high-end offline stores like Parkson to lead the game.
Apart from top mainstream brands such as Hermès, Louis Vuitton and Chanel that will join the campaign, niche product lines including Chinese-style indie designs, avant-garde designer’s displays, and couture make-up will also be carefully selected to satisfy diverse consumer needs, especially among the millennial generation.
Meanwhile, during the campaign, shoppers at Parkson can use Secoo’s financial services to pay in interest-free installments with discount rewards. With these offerings, Secoo hopes to gain firsthand insights and information about high-profile consumers’ buying habits. Doing so will gradually establish a comprehensive database as well as cultivate consumer loyalty in Secoo.
According to the strategic alliance contract signed in January, Secoo and Parkson’s cooperation will enable sharing of the two’s products, channels, and membership management resources, meaning that consumers will benefit from more exclusive consumer options and privileges.
The festival will also host Q&A quizzes, the live internet business model of which has recently attracted millions in capital.
In other words, the ‘Goddess Festival’ will be a display of Secoo’s ambitions in the luxury industry’s high-end ecosystem building. The campaign will demonstrate how the integration of diverse online and offline models can perform. Secoo is also eager to know what ought to be planned ahead for strong and sustainable future growth as well as long-term business strategy.
Richard Li, Founder and CEO of Secoo, believes that the deepening cooperation between Secoo and Parkson will also further enable business practices in smart technology-driven retail models that explore data’s practical use in future retail challenges. The alliance will also improve the shopping experience of consumers and lower operation costs.
Li also said that in the near future, Secoo will provide more practical solutions aimed at integrating omni-channels to offer exclusive user experiences.
（Top photo from Secoo.）