The ATV of Secoo's 618 sales campaign increases by 70% than that of last year, top-level users entering into luxury investment

Rhea-AI Summary

Secoo's recent press release highlights a significant 70% increase in Average Transaction Value (ATV) during the 618 sales campaign compared to last year. As the luxury goods market in China opens up post-epidemic, consumers are increasingly viewing luxury purchases, such as rare bags and watches, as investment opportunities. A surge in inquiries regarding the value maintenance of luxury goods has prompted Secoo to establish a high-end steward department to cater to these users. With over 50 million registered users and a vast selection of luxury brands, Secoo aims to enhance its services in the luxury sector.

Positive

• 70% increase in Average Transaction Value (ATV) during the 618 sales campaign.
• Growing trend of luxury goods viewed as investment opportunities among consumers.
• Establishment of a high-end steward department to provide tailored services to luxury consumers.
• Over 50 million registered high-end users across 4000 luxury brands.

Negative

• None.

BEIJING, June 21, 2022 /PRNewswire/ -- As the epidemic starts to slow down in China, Beijing and Shanghai, the major cities for luxury goods, begin to open up.  Li Rixue, the founder and the CEO of Secoo, points out that during this year's 618 sales campaign, the ATV increases by 70% than that of last year. According to the statistics, individual users buy more intensively in this year's 618 sales campaign. Rare bags and watches are popular with consumers, some starting to invest in luxury goods. 

In recent year, a rare handbag or a watch is not only a display of social status, but also serves as an investment method for those who purchase high-end luxuries. The money invested in luxuries is also believed not to be lost. Users can kill two birds with one stone. Bain&Company predicts that China is expected to be the largest luxury goods market by 2025.

Comparing to past years' 618 sales campaign, the conversation rate of high-end users purchasing rare goods increases significantly this year, considering the purchasing period drops from one week in the past to one day now and the consumers spread from tier 1 and tier 2 cities to tier 3, tier 4 and tier 5 cities.

Ms. Wang, being the user of Secoo for 11 years and a super vip of Secoo, tells that she originally buys luxury goods for her own use, but later finds out that people around her start to treat luxury goods purchase as an investment method. As the price of luxury goods goes up and down, Ms. Wang starts to get the hang of price fluctuation rules of luxury goods. Once the price achieves her expectation, she sells them on Secoo online platform. The whole process is quick and easy.

Secoo finds out that users like Ms. Wang are not uncommon since the beginning of the year. They are more like a group. The number of users inquiring about the the maintenance of value and the increase of value of luxury goods grows bigger. In order to meet the demands of these high-end users, Secoo has set up a high-end steward department to search rare goods for Secoo's high-end users, provide the latest information of fashion trend and the price fluctuation, as well as to provide home delivery service for high-end users, ensuring the quality of goods and at the same time making them feel they are served with Secoo's full attention. 

As a world-famous cross-border luxury goods purchasing platform, Secoo has dedicated itself to serving high-end users around the world who pursue extreme life experience. As of now, Secoo has more than 50 million registered high-end users, covering over 4000 high-end brands of clothing, shoes and boot, bags, watches, jewelry and accessories. In the future, Secoo will keep improving and perfecting itself to meet the demands of high-end users through expanding its presence in luxury goods industry and integrating more famous luxury bands.

 

View original content:https://www.prnewswire.com/news-releases/the-atv-of-secoos-618-sales-campaign-increases-by-70-than-that-of-last-year-top-level-users-entering-into-luxury-investment-301571824.html

SOURCE Secoo Group

FAQ

What was the ATV increase for Secoo during the 618 sales campaign?

Secoo reported a 70% increase in Average Transaction Value (ATV) compared to last year during the 618 sales campaign.

How are consumers in China changing their perception of luxury goods?

Consumers are increasingly viewing luxury goods as investment opportunities rather than just status symbols.

What initiatives has Secoo launched to cater to high-end users?

Secoo has established a high-end steward department to cater specifically to the needs and inquiries of high-end luxury consumers.

How many registered users does Secoo have?

Secoo has over 50 million registered high-end users.

What does the future hold for Secoo in the luxury goods industry?

Secoo aims to expand its presence in the luxury goods market and integrate more famous luxury brands to enhance its offerings.