"Bag Master! Bag Master! Sell bags on the bag master! ”
In recent times, the social animals working in the core CBD of Beijing, every time they enter and exit the elevator, they will accept a round of "magic sound bombardment" of the new elevator advertisement of Master Bao, and after a few days of repetition, it will become the trend of "magic brainwashing", and will always accidentally hum out the "Master Bag".
Behind this magic advertisement, as one of the main platforms for domestic luxury goods transactions, the new trend of luxury consumption represented by Master Bao is obviously more worthy of attention:
Whether it is a young "luxury white" who has just entered the pit, or a high-end player who will focus on limited editions and commemorative models, with the increasing maturity of luxury consumption and the increasing transformation of consumption concepts, second-hand luxury goods are attracting more and more people's attention.
The data shows that from 2016 to 2020, the market size of China's second-hand luxury goods industry has surged from 2.85 billion to 17.3 billion, maintaining double-digit growth. Especially under the impact of the epidemic, overseas consumption has been blocked, and the transaction volume of second-hand luxury goods in 2020 has increased by 47.87% compared with 2019.
But this is just getting started. According to the survey data of professional institutions, the current scale of China's second-hand luxury goods market accounts for 5% of the entire luxury goods market, which is still far from the proportion of about 30% of second-hand luxury goods in developed countries in Europe and the United States.
A future market of 100 billion or even trillions is about to come out.
The new posture of "cure all diseases"
"Nothing was a problem, it was a package that couldn't be solved. If there is, there are two. ”
This popular "cure for all diseases" online joke represents many people's love for luxury consumption. Whether it is a "little white" who has just entered the workplace or an "old bird" who has been in the battlefield for a long time, for them, a luxury is of great significance: it is not only a reward for their hard work, but also a "combat equipment" that can give themselves extra points in their work.
However, for a long time in the past, some young people did not hesitate to "eat soil" and buy luxury goods beyond their own consumption capacity appeared in the media reports repeatedly, and loans to buy luxury goods, and even the news that college students were caught in "naked loans" in order to buy luxury goods, has also become the focus of public opinion.
Such a phenomenon, with the rise of second-hand luxury goods platforms is changing, young people who are not yet rich on hand will aim at second-hand luxury goods, and "cure all diseases" has a new posture.
The data shows that in the rapidly growing second-hand luxury goods transactions in recent years, the proportion of post-90s buyers and sellers is about 50%, becoming the absolute dominant group. Among them, young people in first-tier cities represented by Beijing and Shanghai are the main force in the consumption of second-hand consumer goods. Similar to the various lifestyles in the past, the new consumption boom set off from first-tier cities is rapidly spreading to second- and third-tier cities.
Why buy second-hand luxury goods? Price is naturally one of the biggest factors. Open the "Bag Master" App, a Burberry's men's belt bag is priced at 2000+, a Gucci old fashion classic women's bag only needs more than 3,000 to take down, usually unattainable luxury goods, here seems quite approachable.
In addition to prices, the change in young people's consumption concepts is also an important boost to the rise of second-hand luxury goods transactions. According to the 2021 "Research Report on the Development of China's Second-hand Luxury Goods Market" released by the Luxury Research Center of the University of International Business and Economics and other institutions, domestic consumers have gradually realized that the consumption of second-hand goods is both economical and environmentally friendly in recent years, and the more rational consumption habits have led to a double growth in the transaction volume and transaction volume of China's second-hand luxury goods industry.
A new battlefield for high-end players
Of course, second-hand luxury goods can not be directly equated with "cheap", a good second-hand luxury goods trading platform, in addition to buying "young people's first package" is an excellent choice, but also a "new battlefield" favored by high-end players of luxury consumption.
Also taking the bag master as an example, in addition to the affordable entry-level second-hand luxury goods, there are also Hermès Birkin, which costs more than 500,000 yuan, and Richard Miller men's watches that cost more than 2 million for high-end players to choose.
In fact, after years of rapid development, China's luxury market has long passed the initial stage of only one-way "buying, buying and buying".
Some consumers who have accumulated a large number of luxury goods, in the face of bags, shoes and accessories that have long been stuffed with cloakrooms, as well as increasingly transformed and more advanced consumption concepts, let them bid farewell to the past luxury "hoarding habits", and strive for excellence in luxury consumption, and the demand for selling some luxury goods to "change the warehouse for new" is increasingly strong.
When buying luxury goods, high-end players have long been not satisfied with buying a luxury goods full of logos to highlight their identity. After a deeper exploration of the culture of luxury goods, collecting specific types of luxury goods such as limited editions and souvenirs has become their new hobby. However, this kind of luxury goods either need to go to the counter to try their luck, once the sale is over, it will basically not be replenished again; or you need to go to the counter to queue, and it is likely that it will not be queued...
In the second-hand luxury goods transaction, there is no such problem, maybe if you are not careful, you can dig up the treasure, and the long-sought favorite will appear in front of you.
Whether selling or buying, the value of second-hand luxury goods platforms for such mature luxury consumers is also accelerating.
New demand for smooth buying and selling
The demand for the sale and purchase of second-hand luxury goods is strong, but the sale of second-hand luxury goods is not an easy business.
Different from ordinary commodities, in the transaction of second-hand luxury goods, from the identification of fidelity, the distinction between the new and old levels, to the price setting, pre-sales and after-sales service, etc., is a relatively complex industrial chain, the smooth operation of this chain, especially the need for an authoritative and reliable platform to "escort" the whole process.
This is also one of the important paths for Master Bao to "break the game" in the second-hand luxury goods business.
For sellers of luxury goods, through the Bag Master platform, a variety of services can be obtained:
From the maintenance of luxury goods, so that it can "sell the old as new", to achieve the maximum preservation and even appreciation of value; to luxury identification, to obtain the most important trust endorsement; to the professional valuation of luxury goods, better find a balance point to quickly deal and maximize the value of transactions. These are just needed services in the sale of second-hand luxury goods.
On the other hand, for buyers, the authoritative endorsement of Master Bao has established an excellent trust foundation for second-hand luxury buyers, and genuine endorsement + reasonable price valuation are the two "magic weapons" for Master Bao to achieve second-hand luxury goods transactions.
From the perspective of commercial value, Master Bao has become the core competitiveness of Master Bao by establishing a strong luxury supply chain, coupled with high-quality second-hand luxury goods trading services. In the complex industrial chain of second-hand luxury goods, such a competitive advantage makes it difficult for many large e-commerce platforms to reach.
A new industry with a scale of 100 billion
The outbreak of second-hand luxury goods transactions, especially under the influence of the epidemic, the overseas market and offline markets have been frustrated, and the second-hand luxury online platform represented by Master Bao is receiving more and more attention.
In this context, domestic and foreign enterprises have laid out. The investment and financing events in the second-hand luxury goods industry have grown rapidly from 0 in 2014 to 5 in 2020, with a total investment amount of 881 million yuan.
However, the development of the entire domestic second-hand luxury goods market is still in its infancy. As mentioned earlier, the current proportion of second-hand luxury goods in China is only about 5%, which is still huge compared with the nearly 30% of developed countries in Europe and the United States.
The development of second-hand luxury goods is also in its infancy, from the perspective of investment and financing rounds, the major start-up companies in the industry are currently concentrated in A and B rounds, all in the early stages. But from the recent situation, the speed at which venture capital firms bet on second-hand luxury head platforms has accelerated significantly. In May this year, Master Bao officially announced the completion of the B round and the B+ round consecutively, of which the B round was exclusively invested by the Xingyuan Fund managed by Fosun for nearly 100 million yuan, and the B+ round was invested by the Changshu Southeast Industrial Investment Fund. Prior to this, Master Bao has successively completed multiple rounds of institutional investment such as Qingsong Fund, BuQiu Venture Capital, and Huaying Capital.
Forward-looking analysis by authoritative institutions shows that by 2025, the scale of China's luxury market is expected to reach 1.4 trillion yuan, and with the gradual maturity of second-hand luxury goods transactions, an industry of 100 billion yuan is taking shape. At present, the market value of the British luxury e-commerce platform Farfetch has exceeded 100 billion yuan, and China, which accounts for nearly half of the world's luxury consumption market, of course, has the opportunity to give birth to a similar or even more than Farfetch platform.
Among the many "contestants" running on this track, the "four-wheel drive" international luxury industry platform package master driven by the four major businesses of second-hand luxury trade services, luxury industry trade services, identification standard industry empowerment, and new high-end brand incubation has undoubtedly seized its own unique opportunity.
An interesting phenomenon is that in the past few years, the enterprises that have been "brainwashed by magic sounds" in elevator advertisements have almost without exception started a magnificent new journey in the following days like blowing a stormtrooper. Among them, there are impressive boss direct employment that shouts out "looking for a job, I want to talk to the boss", and the first generation of the "magic brainwashing" world, and many people still hum "Pinduoduo, Pinduoduo, Fight More and Save More"...
And after Master Bao's "magic brainwashing", what kind of story will be opened next, it is worth looking forward to.
Wen | Songguo Finance (ID:songguocaijing1)