WUDASHU Founder Wu Nan Highlights Key Factors in Surge of Chinese Domestic Brands
BEIJING, June 21, 2023 /PRNewswire/ — The retail environment in China is undergoing a significant transformation in 2023, with domestic brands experiencing exponential growth on the market.
WUDASHU, found by Wu Nan, has been recognized as a leader at the China Industry Impact Brand Summit, where the recent developments in Chinese branding were discussed.
Wu Nan points out that with the polarization of Chinese consumers, many Chinese retailers are increasingly excelling in this area. 5-10 years ago, there weren’t many players in the domestic brand market, and no one anticipated that these brands would become the key to winning consumer favor.
Regarding the current Chinese domestic brand market, Wu Nan suggests that we can analyze it from three aspects: retailers, consumers, and suppliers. Past Chinese retailers often made mistakes when developing their own brands, such as inconsistent product quality or unclear product positioning, causing consumers to distrust these brands.
Nowadays, as the business scale expands and the level of specialization increases, the Chinese retail market has begun to reevaluate and launch domestic brand projects. As consumers mature, rational consumption behavior leads to the emergence of many high-quality, cost-effective products. Retailers now hold more initiative by developing domestic brands in cooperation with suppliers, benefitting from direct procurement and lower marketing costs, they manage to offer competitive products.
In addition, Chinese consumers are demanding more. They seek more personalized and trendy products to meet their needs, making domestic brands comparatively flexible. In the past, suppliers led the development of domestic brands, but now retailers are closing the distance with consumers by gaining a deeper understanding of them and reducing product development time.
At the supplier level, with the rapid industrial development, many small suppliers are becoming more specialized. These suppliers have strong production and research capabilities and can effectively control costs. However, they urgently need suitable retailers to provide channels to address overcapacity. This kind of beneficial cooperation can achieve a win-win situation.
WUDASHU is a brand that has evolved with the development of e-commerce platforms and content platforms. The company has gone from the traditional e-commerce model, where it communicated with consumers through pure text, to the era of graphics and images as internet technology matured, and now to the era of short online videos. After more than a decade of evolution, WUDASHU continues to grow and improve communication efficiency with consumers.
In 2020, WUDASHU invested a significant amount of time researching short video content and quickly opened communication channels with consumers through unique content on the Kuaishou platform. With the growth of the Douyin platform, and the optimization of traffic and algorithm mechanisms, WUDASHU shifted to Douyin to further reach a large user base.
Short video content, as an important bridge between WUDASHU and consumers, is not only limited to platforms like Douyin and Kuaishou, but also applied to Taobao, Pinduoduo, and other channels, always synchronizing with consumer reading habits. Traditional e-commerce platforms are gradually integrating short videos, with globally popular TikTok leading the charge.
In 2022, Douyin e-commerce upgraded from “interest-based e-commerce” to “pan-interest e-commerce”, and WUDASHU continued to strive to provide e-commerce services from both expert and brand perspectives. The brand’s partners are becoming more diverse, and collaboration is deepening.
From 2023 onwards, WUDASHU has further strengthened its operations and promotion in the Douyin Mall, and its operational activities are becoming more detailed. As of January 2023, WUDASHU has repeatedly topped the sales rankings in the women’s shoe stores across Douyin Mall, achieving a single-store monthly sales volume of approximately 5 million.
Originally published at https://www.prnewswire.com/news-releases/wudashu-founder-wu-nan-highlights-key-factors-in-surge-of-chinese-domestic-brands-301856932.html
Some images courtesy of https://pixabay.com
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