Seven wolves performance downturn can take the ultimate single product to turn the tide

The traditional business crisis is very heavy and the transformation of the e-commerce business is difficult. Under this background, a new project has been quietly prepared for more than six months within the group.

Seven wolves teamed with Suning on Sina Weibo to publish "an ultimate shirt", priced at 499 yuan, and on the day of publication, nearly 10 million topics were read and went into Top5. This is the first time that seven wolves have learned to create a single product for the Internet seniors. Coincidentally, two months ago, an old-fashioned high-profile shirt with a price of RMB 128 was announced, and Vanke was announced to return to the ultimate single product line. Will the ultimate single product be able to save the traditional business? Please see how Wang Hao, the general manager of Seven Wolves E-Commerce, answers.

1. Why choose a shirt as the ultimate single product?

Wang Wei: Our traditional business is facing a huge impact this year. We have always wanted to find a new growth model and use the popular Internet thinking to do more to meet the needs of Internet users.

Shirts are chosen because in all clothing categories, shirts are the products closest to "standard products," and each man has at least one shirt to meet his business life needs.

We made two products this time. One is the "wolf Totem 140S" which is the main business elite, fabric, workmanship, packaging, and even express delivery. We use the best way we can think of in all aspects. It is entirely possible to PK off all the luxury shirts on the market. After pricing, the price is determined to be 699 after multiple investigations. The starting experience price is 499. This price is what we believe is the highest price that Internet users can tolerate for a shirt.

Another, 100S, the others are similar, the fabric is reduced to 100 pairs of parameters, collar type made a young and fashionable adjustment, an increase of Swarovski crystal cuffs, priced at 299 main white-collar workers and newly admitted to college students.

2. Can these two products make money?

Wang Hao: 499 has less than 20% of profits, 299 is slightly lower.

The ultimate single product is a process of learning all the way to senior Internet companies. In addition to the product and model, teachers can be found. Products are all-pervading and their prices are completely subverting the traditional garment magnification calculation methods. Consumers enjoy luxury-grade product quality at a very low price.

3, clothing can rely on a single product to fight the world?

Wang Hao: There is no lack of success stories with a single product. Uniqlo shirts can PK off most Chinese clothing brands every year. However, Wolf Totem definitely does more than just make a shirt. It will continue to iterate and will continue to introduce new products. . But only shirts I think will not starve to death, the number of business shirts single-class class million can live well.

The demand for shirts is still very large. We will soon launch a weekly package and sell it in 5 packages a week. Also, I stress again that we will wear the shirt, but we will introduce other categories at the same time and then we will wear them one by one.

Category selection is definitely the basic line. Make the basic model the ultimate. Use the best materials in the world to sell civilians.

4, mobile phones can make the ultimate single product, shirts are not so high in the product barriers, at any time someone will surpass you, then how to make money?

Wang Hao: There are no product barriers to mobile phones. Today, it is difficult to build product barriers for commercial products. You can do shirts that are the same as wolves totems, but they are not always willing to do or dare to do. This is a reform of their own lives, not everyone has such courage.

I welcome the follow-up of competitors. The more people do, the more transparent the cost-effectiveness of shirts, the greater the amount on the Internet and the more revolutionary.

Later, consumers all know that 299 can buy a luxury-grade shirt, who still buys offline? I just want to focus my energy on this shirt and break it down.

5. How to achieve 10 million topic readings on Weibo?

Wang Hao: This time, we and Sina are strategic cooperation. We have made a lot of paves before release. On the day of release, Sina’s national stations and large-scale promotion of the whole party have caused the crowd to watch the effect of a shirt. Of course, there is no shortage of forwarding prizes. effect.

Before we released, we did a lot of deductions. At what time we did what we did. We had a plan with Sina team for more than two months.

6. How is the new product positioned with the original Septwolves?

Wang Wei: So we did not use this LOGO of seven wolves. We used the wolf totem. Just launched will endorse the brand with seven wolves, and later will be separated at the brand level.

7. Will a single product strategy be an enduring strategy at the group level?

Wang Hao: We will definitely persist in doing this. We must do it slowly and eagerly.

I think that in the future business environment, consumers will make a differentiation. Some consumers will still focus on store experience, brand culture, designer charm, and values ​​recognition. The other part of consumers may be more concerned about the practicality of products. Cost-effective, the charm of the product itself, then someone will go to produce such an ultimate single product to meet the ultimate needs of consumers.

There will be more and more people who will focus on the ultimate single product in the future, but it will not completely replace the entire market.