"Pandora of Ups and Downs"
Article source: Japanese design station
ID：japandesign
Author: Jun Hizawa
Edit: Twins
Pandora Wangfujing global flagship store, closed!
Just a while ago, this global flagship store with excellent location, exposure and footfall was replaced by Tiffany and Cartier's home.
Ironically, Pandora, who once fascinated and jealous Tiffany around the world, was eventually replaced by Tiffany.
But in any case, Pandora's strength at the peak should not be underestimated.
· Every bead has a special meaning ·
At that time, when Pandora first entered the Chinese market, it was once popular among young girls.
Under the slogan of "a bead represents a story", it has won everyone's attention.
At that time, Pandora was not just selling a string of beads or a piece of jewelry, but a different story experienced by each girl.
This is exactly what it was meant to be – to encourage every girl to record her own life experiences.
· DiY ourselves, we are unique ·
In addition, Pandora's classic model is also quite interestingly designed.
You won't be able to buy a complete finished bracelet. Instead, you can only buy a basic bracelet first, and then buy the beads on it separately.
Such "rules of the game" not only allow girls to have jewelry, but also increase their DIY fun.
But there is a huge vanity trap behind this fun, and diying yourself represents uniqueness. So, what girl doesn't want to be unique?
· Fast frequency of new: 7 times a year ·
In order to satisfy their DIY fun and the vanity behind them to be different from others, Pandora has also done enough.
From the beginning, it was renewed twice a year, and then it was renewed 7 times in a year. At one time in the industry, it was called "zara of the jewelry world".
The styles of beading range from hundreds to thousands of tricks, making all consumers dazzling.
At that time, it was very popular to say that it was difficult to find the exact same Pandora in the world.
· Jealous Tiffany can't sleep ·
This routine coupled with the price is in a light luxury position, so that Pandora opened the market in an instant.
Since 2012, the performance has soared for five consecutive years. In 2017 alone, Pandora sold 100 million pieces of jewelry, and annual sales soared to $2.7 billion.
And among the top three global jewelry brands sold, many media reports openly wrote that "Pandora knocked down Tiffany" such a bold statement.
At that time, Pandora was like a dark horse that came quickly, and even the high-end big names were eyeing it.
But fairy tales that are wrapped in language will eventually be broken.
· Design itself, part of the beaded "ugly" is the original sin ·
Pandora on the new speed fast, is not false. But more and more consumers are finding that the design of each bead cannot stand up to scrutiny.
The color scheme of the big red and purple that is not attractive.
The figurative beaded design is full of resort style and visually low sense of childishness.
The co-branded series is even more difficult to say, whether it is the Harry Potter co-brand or the Disney Princess series, it makes people feel that it is a hasty thing.
· Strung together, there is a sense of cheap ·
And what's more, once the beads are more, they seem cheap.
Even because of the unreasonable design, some netizens said: "I am like Sima Guang carrying a stone to smash the cylinder."
· Requires meticulous care ·
Not only that, but the bracelet beads themselves have the problem of "easy oxidation".
If you are idle for a while, you will turn black and ugly.
There are also hairs on the arms that are always accurately clamped by beads, which also bothers many people.
For a time, there were more complaints about Pandora on the Internet.
· Performance declined, plummeting 70 billion a year ·
Of course, design isn't just one reason Pandora went downhill.
But the competition in the market, the low level of design, etc., so that Pandora's market value in 18 years plummeted by nearly 70 billion!
Later, the outbreak of the epidemic further overwhelmed the jewelry company. Pandora will close an average of about 10% of global physical stores in 2020, while in the first half of 2021 alone, 20%-25% of stores will be closed.
Pandora tried to flip the market: price increases, open afternoon tea restaurants The design of the National Games is too eye-catching
Faced with such a situation, Pandora also responded.
Not only in 19 years, the brave decision to "reduce prices" was made. Later, he also began to innovate, stepped out of his comfort zone, and opened an afternoon tea restaurant.
But the cruel competition in the market, "price reduction" is not enough to save the hearts of young girls. And "Open Tea Restaurant" was also spat upon, copying the ideas of Tiffany's family.
At this stage, Pandora is still in a dilemma, and how to break through the bottleneck of the industry seems a little difficult.
I can only sigh that pandora, who once made the girls crazy obsessed, is no longer fragrant.
Resources:
"Pandora who wants to make 3 times more money in China, and girls love to buy?" 》Public number: New Weekly (ID:new-weekly)
Image Material:
Pandora flagship store
Little Red Book @ Beijing Foodie Squad, @ White Moonlight and Cinnabar Mole, @ Yuan Yuan, @ Struggling Shanghai Drift Elderly, @ Mini Orange Juice, @ Cat, Elaine, @ Nine Years Old, @ Xiao Huan and Coal Brother, @Amore Xyq, @Yalta's Fat Cat, @ Invincible Sweet Boy
Know @ away from the original flower flower
Some of the image material comes from the Internet