Xiong Yong: Integrating online and offline resources to boost China's second-hand luxury jewelry market

According to relevant data, China's luxury jewelry consumption reached 600 billion yuan in 2017, accounting for 46% of the world's luxury jewelry consumption in China alone, which means that Chinese almost half of the world's luxury jewelry. The ensuing industrial upgrading and the change in people's consumption concepts have prompted the domestic idle luxury jewelry trading market to heat up rapidly, and the domestic luxury jewelry market is huge, but in the second-hand luxury jewelry transaction, the proportion is far less than that of countries such as the United States and Japan.

A huge market gap is waiting to be exploited. In fact, there are already many second-hand luxury jewelry stores in major shopping malls and high-end communities, but for traditional second-hand luxury jewelry stores, sales channels, capital chains, customer sources, inventory, and supply sources have become hard problems that hinder the further improvement of store sales. Consumers' concerns about the authenticity of second-hand luxury jewelry, the high difficulty of luxury jewelry identification, and the dispersion of the market have also become obstacles to the development of second-hand luxury jewelry service providers.

The problems are numerous and difficult, but once these barriers are crossed, they will face a vast blue ocean market.

Considering the category attributes of luxury jewelry and the consumption habits of users, Xiong Yong found that most consumers are more inclined to buy luxury jewelry offline, and the visible and tangible consumption experience makes consumers buy more steadily.

In view of the above industry pain points, Xiong Yong and a friend who worked on the idle fish platform discussed whether they can empower online traffic and technology to offline, integrate offline resources into online resource sharing, which can solve the problem of single channels for merchants to obtain customers, low inventory, and at the same time, online can also provide users with a formal and reliable second-hand luxury jewelry trading platform, not only the source of goods can be shared, appraisers can also be shared, multi-store alliance, not only to ensure the sufficiency of the source of goods, It also better ensures the accuracy of luxury jewelry identification, so Xiong Yong's idle fish station × luxury cloud store was born.

Xiong Yong said on the stage of "Entrepreneurship Chinese": "Opening up online and offline resources can greatly improve the distribution efficiency of offline stores, and the profit space can also be greatly increased." Then the idle fish station × all stores under the luxury cloud store system for unified management, and the shared model solves the problems faced by traditional second-hand luxury jewelry stores to the greatest extent. While helping merchants improve their operational efficiency, they can also standardize technical standards and improve service capabilities, so that consumers can buy their favorite genuine bags more securely and conveniently × luxury cloud stores in the idle fish station. Connecting online and offline resources, promoting the development of the industry, helping stores grow, and providing consumers with better services is the significance and value of luxury cloud stores. "

Since the establishment of the luxury cloud store, in the past year, Xiong Yong and the team have communicated with nearly 20 second-hand luxury jewelry stores across the country to successfully join the idle fish small station × luxury cloud store system. For such a vast blue ocean market as second-hand luxury jewelry trading, there is still an immeasurable development space in the future.

China's second-hand luxury jewelry market is being rewritten and developed, although the task is long but the prospect is very broad, with the post-80s, post-90s become the backbone of market consumption, the second-hand luxury jewelry market will also usher in a huge breakthrough.