In 2014, Winona participated in Double 11 for the first time, and the sales amount exceeded 5 million yuan, achieving good results that betty did not expect anyone, but this was only the beginning of Winona's promotion to "the light of domestic products". In 2020's Double 11, Winona Tmall flagship store achieved sales of more than 700 million yuan, and it is also the only domestic brand to enter the "Tmall Beauty" TOP10 for three consecutive years after 2018. "Double 11 breaks the record again", "Winona changed the conventional path of domestic brand marketing", "Winona creates miracles again"... The outstanding performance of the brand has aroused heated discussion in the industry.
Jacaranda Bethany factory area
Winona's success is largely due to the foresight of its parent company, Bethanie (300957, SZ). For Winona's high-standing brand positioning, adhere to the development path of large single products, and give strong product strength, academic strength, operational support, a series of business policies and operational strategies have also enabled Bethany to successfully grasp the rapid growth of the cosmetics industry development opportunities, and rapidly grow into an industry leader.
At present, Generation Z has become the main growth driver of Chinese e-commerce users, and the scale of the mainland dermatological skin care market is also in a rapid growth trend, which is a good era for Bethany, who has in-depth insight into consumer needs, continuously improves the product matrix, and promotes the multi-brand strategy.
Domestic efficacy skin care faucet
Founded in 2010, Bethanie is bound to become a "functional skincare leader". "At the beginning of its establishment, Bethany set a corporate vision to bring health and beauty to people, and its mission in the medium and long term is to create a healthy skin ecology in China. From the beginning, Bethanie's goal was to make Winona the world's leading functional skincare product. Bethany Chairman Guo Zhenyu once said.
Since her inception, Bethany has devoted all her strength to "focusing on sensitive skin". This stems from the company's note that the results of the Survey by the Chinese Medical Doctor Association show that 35% of women have sensitive skin, so the company focuses its superior resources on the sensitive skin market.
Winona Product Collection
In addition to brand positioning and path, Bethany has established three major supports: product strength, academic strength and operational force. Different from traditional skin care products, Bethany adheres to medical research and co-creation, creates skin care products with the idea of making medicine, conducts product research and development according to professional needs, and conducts clinical verification and effect observation before the product enters the market.
In terms of academic strength, Bethany is deeply involved in plant technology and medical research, and digs deep into the industrial "moat". The company has linked up with dermatology experts at home and abroad to carry out a large number of basic research and exploration on the causes and textures of sensitive skin in China, and the R&D team has produced hundreds of high-quality academic papers, and participated in the formulation of more than 10 expert consensuses and guidelines to guide the clinical practice of dermatology in China. The relevant academic achievements have even attracted the attention of the global dermatology community.
Channel expansion ability is an important means for Bethany to achieve brand breaking. All along, Bethany has adhered to the sales model based on offline channel sales and led by online channel sales, applied Internet thinking, successfully opened up offline and online, and achieved omni-channel mutual penetration and in-depth coverage of consumer groups.
With strong comprehensive ability, Bethany continues to deliver excellent results.
In 2021, Winona was listed in the Top 6 of the Tmall beauty and skin care category, becoming the only Chinese brand to be in the top ten of the list for 4 consecutive years from 2018 to 2021. According to business staff and Feigua data, the turnover of Winona Tmall flagship store in 2021 is estimated to exceed 2.3 billion, an increase of 40% year-on-year, and the turnover of Douyin small shop is estimated to reach 400 million. At the same time, the company's coverage rate of OTC pharmacies continued to rise, and the expansion of South China, North China and other regions was steadily advancing, covering more than 18,000 outlets as of the end of the third quarter of last year; Watson's 4,000+ outlets basically achieved full coverage, and emerging beauty collection stores such as Xi Ran continued to be laid out. In addition, Bethany is accelerating the construction of the brand flagship store, and in this way, it will open up the interactive closed loop of online and offline members.
Through the replication of Winona's successful experience in brand operation, Bethany is entering a new round of growth. On the one hand, the company continues to supplement and upgrade the existing Shumin series product line, and broaden the product series and product categories to cover a variety of skin care needs; on the other hand, the company's new brand focuses on infant care "WINONA Baby", acne skin care "Acne Kang", high-end skin care "Beauty Answers" and high-end anti-aging brand "AOXMED" Operation has gradually entered a better state. "Multi-dimensional construction of moat barriers, new categories open another growth curve." Shanghai Securities said so.
Generation Z brings new momentum to the growth of skincare e-commerce
According to the National Bureau of Statistics, the online retail sales of physical goods nationwide in 2021 will be 10.8 trillion yuan, an increase of 12% year-on-year. Total retail sales of online consumer goods increased from 3.24 trillion yuan in 2015 to 10.80 trillion yuan in 2021, with a compound annual growth rate of 22.2%. From the perspective of the age structure distribution of new e-commerce users, the number of Generation Z users has increased year by year and accounted for more than half in November 2021, reaching 56.3%.
Gen Z is not only young, but also represents endless possibilities. As the e-commerce penetration rate of Generation X and Generation Y is close to the saturation point, Generation Z has become the main growth driver for Chinese e-commerce users. They are keen to pay for the appearance and trend, skin care products are more frequent, they are more professional and safe, functional skin care, they are very fond of online social media platforms to learn about product information.
In the context of the rise of Generation Z, "those who get fans get the world" has also become a mainstream phenomenon in the marketing of skincare brands. As one of the earliest functional skin care products companies that pioneered one of the professional KOL grass playing methods, Bethany has been deeply involved in social media platforms such as Weibo, WeChat, Douyin, Xiaohongshu, and Station B. Up to now, winona Tmall flagship store has more than 10 million fans, and the number of fans in the Douyin live broadcast room has reached millions. At the same time, the company has also created the marketing rule of word-of-mouth planting + model innovation + multi-circle interaction.
Winona full product
This is a good time for Bethany, who is well versed in the psychology of Gen Z consumer groups and a full range of efficient and diversified marketing methods.
According to data from Euromonitor International, the size of the mainland dermatological skin care products market reached 16.8 billion yuan in 2020, an increase of 23.5% year-on-year. In 2020, the penetration rate of mainland dermatological-grade skin care products was only 7%, and the market share of Winona in this segment is about 21.6%. From 2015 to 2020, the CAGR of the mainland dermatological skin care products market reached 26.13%, higher than the overall growth rate of the cosmetics industry. With the increase in demand for sensitive skin care, the market penetration rate of dermatological skin care products is expected to continue its rapid growth trend in the future.
The high growth of the industry also makes the market have higher expectations for Bethanie.
Minsheng Securities said: "(Bethany) card bit efficacy skin care and medical beauty dual boom track, the integration of production, education and research, product strength + channel power + operation ability comprehensive ability is strong. Guotai Junan believes that the company has the development concept of beauty instruments, oral beauty and other products, and is expected to achieve mergers and acquisitions with the help of capital. In the long run, Bethany is expected to move forward towards a multi-brand, multi-category skin health ecological group.
(This article does not constitute any investment advice, investors act accordingly, at their own risk.) ）
Text/and with the wind