Mr. Li Mingguang, founder and CEO of UR, attended the forum.
Creating the Future -202 1 Trend Forum is jointly organized by Guangzhou Municipal Bureau of Commerce, Knowledge-only Consulting and Accelerated Business School. The founders and executives of many well-known brands and platforms, including UR, discussed the future of brand rejuvenation, retail industry development and Z generation consumption with the theme of "Z generation consumption and retail in the next decade" around brand innovation and consumption trends.
Creating the Future-2021Trend Forum
Generation Z was born in 1995-2009, accounting for nearly 20% of China's population. They are more educated, have more confidence in China culture and have great consumption potential. Judging from the trend of consumption behavior, young people of generation Z pay more attention to experiential consumption, and the number of shoppers in physical stores is three times that of online shoppers. Self-satisfied consumption has also become a major trend, and they hope to get instant satisfaction by owning their favorite products; Generation z hopes to gain value recognition in the process of consumption and gain word of mouth with brands; They are also used to pursuing cost performance.
Mr. Li Mingguang, founder and CEO of UR, shared his insight into the consumption of Generation Z..
"Products, customers and brands are the three basic elements for UR to continuously attract young consumers," Li Mingguang said. UR insists on focusing on customer research, "insight" and meeting the core needs of consumers of generation Z, and regards "innovation" as the core energy to drive brand development.
For a long time, UR has implemented the product-oriented strategy, stood out by virtue of fashionable design, rapid update and high cost performance, met the individual needs of consumers through product style segmentation, and formed a strong product force. "In the future, UR will change from one-way product export to user-oriented and lead the new trend in the process of interacting with consumers," Li Mingguang said.
The product display of your offline store
Under the premise of user orientation, UR subdivides consumer groups and pays attention to the refined operation of members. For example, in Li Mingguang, UR organizes different styles of consumers into a community, organizes online and offline scene interactions within the community, and distributes different marketing interactive contents in a customized way. "We need to find the best balance between consumer demand and brand management strategy."
In terms of brand building, UR mainly exerts its strength from three dimensions: brand positioning, brand concept and brand experience: it puts forward a brand-new concept of "fast luxury fashion", conveys the concept of environmental protection through a series of public welfare actions, and creates a comprehensive brand experience from two aspects of retail space upgrading and smart shopping. Li Mingguang concluded: "It is necessary to convey brand value to consumers, establish emotional connection, and finally form a dual-energy drive of product power and brand power."
UR Guangzhou Guangsheng building flagship shop
Li Mingguang also predicted the development trend of the fashion industry. He believes that in the future, the whole industry will change in the direction of personalization, internationalization and segmentation, which is manifested in the emergence of designer brands and gender-free clothing, the emergence of global brands by international consumers, and the popularity of single brand.
Faced with these changing trends, Li Mingguang said: "We constantly study whether the products meet the needs of current consumers and whether our brands meet the preferences of current consumers." He proposed that UR will use technology, art and human culture to control the new trend: use technology to empower brand management, realize intelligent interaction, intelligent analysis and intelligent decision-making, and complete the transformation from traditional enterprises to intelligent enterprises; At the same time, continue to explore and create unique aesthetic elements to form product differentiation; Pay attention to the construction of brand spirit, convey humanistic spirit beyond brand and service to consumers, and stimulate young consumers' enthusiasm for fashion.
UR 2020 winter image blockbuster
Generation Z is a generation that pursues freedom, individuality and fun. They look at the world with curious eyes and are keen to express their views on beauty and the world with fashion. In the face of the challenging and changing consumer market, UR will still adhere to the business model of "fast luxury and fashion", but will keep up with the trend and fashion to continuously upgrade and innovate. At the end of the speech, Mr. Li Mingguang sincerely said: "I hope that the' Z New Generation' will still be keen on UR after 20 years!"
About urban renewal
URBAN REVIVO(UR) is the first brand of Fast Fashion (Guangzhou) Co., Ltd. and the leading brand of fast fashion business model in China. At present, the company has 6,300 employees worldwide, a global creative design center in London and more than 300 physical stores around the world. 20 16 began to expand overseas business, and has now developed into Singapore and Thailand markets.
UR has industry-leading product design and rapid supply chain management capabilities, providing customers with more than10,000 products every year, and maintaining the frequency of new products twice a week, so that the public can easily have high-quality fashion at reasonable prices. The company takes fashion UR and technology UR as the strategic core, insists on fashion as the root and technology as the foundation, continuously increases the investment in product design and technology, creates the latest fashion products for customers, and uses technology empowerment management to make the cost better, the efficiency higher and the decision more accurate, so as to realize the transformation from traditional enterprises to innovative intelligent commercial enterprises and realize the dream of making the world more fashionable.
In the future, UR will tirelessly provide fast fashion experience for global consumers and build an international UR fashion empire.