From scratch, it was conceived in an era when the jewelry industry was still in chaos. It has experienced many opportunities and challenges in the ups and downs of the market, and now it has taken the lead in the fierce industry competition. After 16 years of experience, CHJJEWELLERY has always been calm. Is it the care of the times or the accident of fate? Let's walk into this high-spirited, future-oriented local jewelry brand and look closely at the legend behind the aura. ...
1. Basic enterprise information
Chaohongji was founded in 1996, and began to implement brand strategy every other year, striving to build its own brand, thus walking in the forefront of brand building in China's jewelry industry. In the choice of core products, Chaohongji found another way, dared to innovate and tried, and resolutely chose the mainstream product in the future market-K gold jewelry as the core product to implement the product differentiation development strategy. Through accurate brand positioning, independent innovation as the core competitiveness, market and customer demand-oriented, and continuous innovation and practice, in recent years, the company has gradually consolidated its leading position in the domestic jewelry field, especially in the K-gold product field. 20 10 1, Chaohongji made its initial public offering and listed on Shenzhen Stock Exchange, becoming the first fashion jewelry company in China A-share market (stock code: 002345). 20 1 1 year, the company achieved sales revenue of 13 18632600 yuan, quadrupling that of 2008. The sustained and rapid development of the company's performance is mainly related to the following strategies of the company.
1. 1 All-round brand promotion to enhance brand influence.
Compared with other consumer goods, jewelry not only has material and functional attributes, but also contains aesthetic value, which meets people's spiritual needs. Therefore, brand concept is particularly important for jewelry products. Chaohongji is located in the middle and high-end market, with the brand concept of "fashionable in recent seasons, luxurious and approachable" and differentiated management by using K-gold products. Since its establishment, Chaohongji has attached great importance to the shaping of brand image and the cultivation of brand reputation, and has been at the forefront of many domestic brands in terms of product creative design, enhancing consumer experience and cultivating brand loyalty. 20 12, 1 June, 2008, Chaohongji was selected as the most potential listed company in Forbes China, and it is the only national chain enterprise of fashion jewelry in China. In June of the same year, Chao Acer once again boarded the list of the top 500 Chinese brands, ranking eighth, and continued to lead the A-share jewelry listed companies with a brand value of 9.056 billion yuan, and its brand value and ranking continued to climb.
Jewelry is different from ordinary consumer goods, and customers pay more attention to distinguished service and pleasant shopping experience in the purchase process. Store decoration, product display and shop assistant shopping guide not only expounded the core demands of the brand, shaped the brand image, but also influenced and changed the consumer behavior of customers. Chaohongji constantly enhances the terminal image of the store and creates a more comfortable and elegant shopping environment and taste atmosphere. At the beginning of 20 1 1, Chaohongji invited internationally renowned designer Mr. Jin Daiqiang to join hands with Mr. Liang Zhitian to redesign the brand image visual system (VI) and the shopping environment (SI) of specialty stores, and gradually upgraded the national specialty stores in 20 12, so as to further explain the brand's definition of jewelry fashion to consumers with a more international brand style and oriental charm.
In addition, Chaohongji adopts composite media combination, which effectively enhances the three-dimensional and multi-dimensional brand promotion. Not only did we launch hard and wide print fashion media, analyze consumption characteristics, do a good job in holiday promotion, and launch outdoor advertisements with high-quality channel partners, but we also tried to use a variety of brand-new marketing methods to pursue fashionable and interesting lifestyles and consumption habits for young consumers, which won good market feedback, greatly enhanced brand awareness, and at the same time made the brand's new positioning go deep into consumer groups. From the regular film implantation of If You Are the One 2, to the application of new video link technology in cooperation with Baidu Qiyi, to the successful operation of e-commerce platform, and the instant interaction between official Weibo and fans, all marketing methods have narrowed the distance between the brand and the target consumers in the most fashionable and convenient way, and enhanced the brand influence.
20 12 China jewelry yearbook
1.2 Fashionable product creative design, highlighting the core competitiveness of the brand.
In order to make the products stand out among many competitive brands by virtue of their unique selling points, Chaohongji particularly emphasizes the product differentiation strategy, strives to seize the market gap with the brand advantage of "leading design", and adheres to the concept of "promoting oriental culture and absorbing the essence of the world". Since its establishment, it has been committed to independent innovation, providing consumers with products with unique design and excellent quality, and the investment in research and development has increased year by year. In order to carry out the original design concept and get rid of the homogenization competition of domestic jewelry products, Chaohongji began to set up its own design team in 2000. Besides its own internal design center, it also cooperated with Tsinghua University Academy of Fine Arts to set up Chaohongji Jewelry Laboratory to develop artistic and humanized products. We will continue to strengthen close cooperation with famous French and Italian jewelry designers and teams, treat and interpret China culture from a western perspective, and create international fashion jewelry with unique cultural connotation and close to international fashion trends. In 2006, Chaohongji was invited to participate in the World Watch and Jewellery Exhibition in Basel, Switzerland, which is known as the "Oscar in Jewelry Industry", and became the only China brand to enter the international stage in the past century. An Oriental Jewelry Exhibition with the theme of "Purple Gas Coming from the East" has completely subverted the prejudice of the western world that China's jewelry industry can only copy, and ChaoAcer's excellent original design ability has since attracted the attention of the industry.
20 12 China jewelry yearbook
Chaohongji systematically manages the product development process by making a clear and reasonable product development plan, and strictly controls all aspects such as theme selection, material requirements and time planning to ensure that each series of products convey clear information, keep close synchronization with the popular fashion themes of the season, and always lead the fashion trend of the industry. Among them, Doraemon and Smiling Face series products perfectly combine the positive and warm product concept with impeccable innovative design ability, which is especially favored by consumers after 1980s, and also confirms Chaohongji's firm confidence and courage in exploring the development prospect of domestic jewelry industry.
1.3 form a composite channel model and improve the information system and management system.
Chaohongji strictly adheres to the principle of quality first and actively enters more core shopping malls. After years of intensive cultivation, Chaohongji has formed a core market in East China and Northeast China, covering nearly 120 large and medium-sized cities in China, with a sales network of more than 500 franchised stores, and the number of self-operated stores ranks first in Chinese mainland brand. More than 95% of self-operated stores are set up in high-quality department stores, and strategic cooperative relations have been established with five major chain department stores, Dashang, An Baili, Wangfujing, New World, Parkson and well-known regional department stores. In the process of rapid expansion of sales channels, Chaohongji has also formed corresponding cross-regional terminal management capabilities, especially after the introduction of SAP-ERP information management system in August 2006, which greatly improved the management level of sales network and laid the foundation for the continuous expansion of sales channels. High-quality sales channels and constantly optimized information management system have laid a good foundation for the sustainable development of the brand, which is conducive to the company's continuous enrichment of product lines around brand positioning, improving the operation ability of single stores and enhancing its sustainable profitability.
In August, 2009, Chaohongji kept pace with the times, combined with the development needs of the consumer market, set up the "Chaohongji Jewelry E-commerce" project, started the network operation mode, and established a network-wide marketing system with self-built platforms as the core, supplemented by third-party sales platforms such as Taobao, Tmall Mall, JD.COM Mall and Suning.cn, so as to realize the integration of information flow and logistics on the whole network platform, as well as the interaction and enjoyment of members, and let consumers enjoy the network.
2. Current situation of industry development
20 12 China jewelry yearbook
20 1 1 The turmoil in the global economic environment has made the domestic industry also present a confusing development trend. In such an uncertain environment, the investment in the industry slowed down obviously, and the national consumer confidence index declined, which also had a certain impact on the sales of the whole jewelry industry. In addition, in recent years, industry competition has become increasingly fierce, and market segmentation has become more obvious, which will certainly promote the transformation of industry competition from low-level price competition to brand competition and accelerate the pace of industry integration. The growth rate of domestic jewelry industry began to show a downward trend from the second half of 20 1 1, especially under the great influence of the continuous macroeconomic downturn, which restrained consumption to a certain extent, led consumers to reduce their daily expenses, and then made the consumption growth in the domestic market slow, and jewelry, as a high-end optional consumer product, was more obviously affected by this. Secondly, at present, domestic jewelry consumption is dominated by gold jewelry, and the international gold price stopped rising unilaterally in the second half of last year, which directly suppressed the sales price of gold jewelry. In addition, domestic inflation expectations weakened, and the price of gold stopped rising, which reduced the investment demand of consumers to use gold to maintain and increase value, resulting in a decline in the growth rate of the domestic jewelry industry.
Despite the current downturn in the industry and the slowdown in growth, domestic brand sales, including companies, are facing a greater impact. But in the long run, the industry still has a large room for growth. At present, it is in the stage of consumption upgrading and diversification. The rapid development of economy, the acceleration of urbanization, the pull of wedding consumption and the improvement of per capita disposable income have promoted the growth of consumer demand and the upgrading of consumption structure, which is the long-term driving force to support the growth of the industry. According to statistics, the total sales of China's jewelry industry reached 380 billion yuan in 20 1 1 year. In the next few years, China's jewelry market will continue to maintain an annual growth rate of more than 15%.
In addition, the jewelry industry has the characteristics of growth and periodicity. In recent years, the sales growth rate of jewelry industry is obviously higher than the total retail sales of social consumer goods. China's jewelry consumption habits will gradually move from the traditional gold jewelry to the refined development of market segments. With the continuous expansion of the market scale of retail department stores in China, consumption upgrading has promoted the endogenous growth of department stores, which in turn has led to the rapid growth of consumption of high-end consumer goods such as jewelry.
20 12 China jewelry yearbook
3. Future development strategy of the enterprise
Affected by the domestic and international economy, China's economy will still be in a period of "low growth" and "uncertain environment" in 20 13, and the competition in the industry will become increasingly fierce, the brand concentration will increase rapidly, and the whole industry will enter the reshuffle stage. In order to win the first opportunity in the new round of fierce brand competition, Chaohongji will still concentrate on doing a good job in brands, products and channels, and closely focus on the strategic measures of "making Chaohongji brand bigger and stronger, and building a multi-brand rolling development pattern with Chaohongji as the core", and make overall arrangements for funds through the efforts of single store performance improvement, brand building, channel expansion, product strength improvement and internal management ability improvement.
3. 1 Improve the management level and improve the performance of a single store.
The company will focus on improving the performance of single stores, defend core stores through classified management, develop potential stores, cultivate new stores, and take different measures for stores at different stages; By strengthening marketing information support, back-office business cooperation and terminal talent training, we can maintain the ability of sustained profit growth of single stores. At the same time, strengthen the planning and organization of annual major festival promotion activities, grasp the promotion business opportunities of store celebrations and jewelry festivals in various shopping malls, tap new growth points of performance, and enhance the performance of single stores in specialty store.
3.2 Change the terminal image and strengthen brand building.
The brand image of "Chaohongji" is an important intangible asset of the company and one of its core competitiveness. The opening of the decoration image of a new generation of franchise stores has a subtle effect on the improvement of store operation efficiency and brand image. The company will gradually upgrade the national specialty stores and complete the design of store image and visual elements under the brand-new positioning. Although the expenses will increase correspondingly in the short term, which will affect the company's current performance, in the long run, it will continuously enhance the company's brand awareness and profitability, laying the foundation for the company to achieve better sales performance in the future.
In addition, in terms of brand strength, the company will continue to adhere to the promotion of oriental culture as the brand foundation, increase investment in brand communication resources, improve brand regional visibility, pay attention to three-dimensional communication, enhance customer service experience, inject unique personality and culture into the brand, shape strong brand power, enhance market competitiveness, and build excellent fashion jewelry brands.
3.3 Accelerate channel expansion and further improve the composite channel combination.
In China's jewelry market, where the industry is developing rapidly and brand competition is beginning to take shape, it is an inevitable choice for domestic brands including our company to establish a nationwide distribution and retail network. In the future, the company will further expand channels, continue to stabilize mature regions such as East China and Northeast China, and then carry out strategic expansion to southwest and northwest regions. At the same time, build brand-name franchise stores in first-tier cities or core areas; Accelerate the development of specialty stores; Strengthen the commercial planning and construction of online shopping malls, enhance corporate image through resource integration, optimize and improve the combination of composite channels, fully meet consumer demand, create the most comfortable shopping environment and win the market.
3.4 Strengthen product planning and maintain the core competitiveness of products.
Strengthen product management, formulate effective management mechanism and planning, use product line function combination, expand the depth and width of product portfolio, optimize product structure, and use information technology to continuously improve supply chain management and enhance the overall benefit of large inventory. At the same time, it emphasizes product differentiation, develops new elements according to the diversified and personalized needs of consumers, pays attention to marketing and packaging, stimulates purchasing demand, and strives to achieve income growth while maintaining simultaneous profit growth.
3.5 Implement the "multi-brand" strategy to increase market share.
20 12 China jewelry yearbook
The diversification of jewelry consumption motivation and aesthetic taste requires diversification and personalization of products, and multi-brand strategy is one of the most effective ways to deal with market segmentation. On the basis of doing a good job of existing brands and maintaining steady and rapid growth, the company investigates brands in jewelry or related industries around the world, looks for brands that meet the company's strategic needs for cooperation or mergers and acquisitions, and launches sub-brands suitable for specific groups, specific regions and specific themes, so as to more accurately match the needs of consumers, implement cross-coverage of consumer groups, continuously expand the company's scale and strength, and achieve low-cost expansion and sustained income growth.