"The total market value of the men's clothing market is actually more than 700 billion?"

Shen Feng looked at Chen Xi, who was a little bookish in front of him, the founder of the clothes, and teased: "I thought men didn't like to go shopping!"

"You're right, that's the biggest pain point we want to solve. Chen Xi explained: "Although even the men themselves say that they hate shopping, 700 billion consumption is still an undoubted fact. ”

Shen Feng nodded, this is also a project locked by Goldfinger, more than three years in business, the team is basically mature, the model is very similar to StitchFix, which has just been listed in the United States, customers can regularly receive suitable clothes without leaving home.

"In the men's clothing sector, the growth of the casual category is far greater than that of formal wear. Chen Xi was very excited in the face of Shen Feng, and it was rumored that as long as he could have a meal with Chairman Wanli, the investment would be basically proper.

"Because formal wear is a choice defined by role, what kind of person I work for, what kind of occasion I attend, what I should wear. ”

"Leisure is more of a personal expression, and the growth behind it means that personalized needs trump regular needs. So when the market demand rises, there must be a better channel to meet them. ”

Shen Feng smiled and said nothing, this is also the reason for looking for projects, male members in luxury time are all in a hurry, and as a man, they are very disgusted with shopping, how to dress has become a daily headache.

"In fact, the domestic consumption trend is the same as that in Europe and the United States, starting from the first and second-tier cities, and then sinking continuously. There is not much need to change in the process, you just need to follow the delivery method of the consumption itself. ”

"But now it's a little different, due to the rise of content platforms, a large amount of information is rapidly popularized, and Douyin Kuaishou can quickly reach users, resulting in people in third- and fourth-tier cities who have purchasing power or want to have a better consumption experience no longer rely on the principle of sinking. ”

"In the past, there was a saying in the industry: big cities should open small stores, and small cities should open big stores. ”

Chen Xi smiled: "The internal logic is that if I am a person from a third-tier city and suddenly come to the capital and see a certain brand everywhere, I will think that the brand is good, and nine times out of ten I will buy it." ”

"But consumer demand in third-tier cities is not so concentrated, so it is necessary to open large stores and attract customers in need to come in by themselves. ”

"But now there is an explosion of information, and everyone is exposed to similar information, so those consumers who have purchasing power, but do not have local supply, their needs are awakening ......"

Shen Feng agrees with this point of view, clothing is a non-standard product, with the emergence of personalized needs, its difference can not be distinguished in a very coarse-grained way as in the past.

For many emerging people, they want to pursue something that is relatively long-tailed and not so common, but can satisfy their desire to consume.

At this time, it is difficult for traditional e-commerce, based on Taobao and JD.com, to capture this long-tail demand, because its essence is to pursue traffic explosion and emphasize convergence, which will inevitably lead to the pursuit of personalized and differentiated people's needs not being fully met.

"As a subscription e-commerce project, I understand that the essence of subscription is a contract, and you must try to establish a relationship of trust with users, how do you do that?"

Chen Xi took a deep breath, the dry goods finally came, and said seriously: "If it is a normal e-commerce platform, you will probably think about what you want when you buy something, and then search with keywords, and then you will show a lot of products." ”

"We don't hang our clothes, before buying something for the first time, we do a questionnaire first, let us understand the details of the customer, even if we finish it, we won't show you any products, but try to refrain from it!"

Seeing that Shen Feng was interested, he continued: "Because after obtaining information from users, we will use the data to accurately infer how to recommend product combinations to users?"

"The first time we send a package based on what we know about the user, they will only know what we recommend the moment they open it. ”

This is the biggest selling point of subscription e-commerce, and it is also the core competitiveness, how to accurately recommend the best choice for customers?

What is the essence?

It is to constantly recommend to users, and users continue to give feedback on whether things are good or bad...... Why is satisfaction...... Why are you dissatisfied......

Then analyze and compare again, and finally lock in the user's preferences and aesthetic tastes.

"We wanted to solve several problems, the first of which was efficiency. Now users are anxious a lot because there are so many things to choose from. ”

"How to buy the right thing quickly is a pain point that many users can't solve on traditional platforms, and draping clothes can help them improve efficiency. ”

Chen Xi said confidently: "If we can satisfy you every time, this is certainty, and trust can be generated in the long run, then users will be more willing to accept this contract and even develop a buying habit." ”

Speaking of this, he said helplessly: "This is also the reason why the daily activity of the APP is very low!"

Shen Feng smiled slightly, there is no way, now the daily activity has become the biggest indicator of venture capital, an Internet project with low daily activity, no matter how much the founder spits lotus flowers, it is useless.

The most innovative aspect of this business model is to redefine the relationship between fashion and retail.

In the past, fashion was a very top-down process, and consumers were constantly brainwashed by many so-called trend brands to see what was good.

But now that the content producers are no longer that small group of people, the rules of the game are completely reversed, and if the retail system is still based on the rules of the past, it will become less and less efficient, and the end result is only mismatch.

Based on this principle, subscription e-commerce does not need to study what fashion is at all, but only needs to understand the user and understand what they are thinking when they choose something.

Aesthetics is the most subjective thing,

As long as you are satisfied,

Nothing else matters!

Shen Feng asked the secretary to change a cup of coffee and said to Chen Xi: "I'm very interested in your algorithm. ”

"I think subscription is the most important two words!" Chen Xi said solemnly, "The premise is that user behavior is guessable or influential to some extent." ”

"Based on the lock-in behavior, the user's consumption can be better planned, and the final result is that after the supply chain is improved, it is easier to lock the stability of both parties, so that the entire closed loop can be planned in an orderly manner. ”

"So subscription is a way to lock down the behavior between users and us and the certainty of the supply chain in an uncertain retail environment. ”

"To be fair, we're not a company that's good at traffic!"

Chen Xi smiled bitterly: "This is also the reason why we have been rejected by countless venture capitalists, but our retention is excellent, and the retention rate can reach 45% in 18 months!"

It also means that on average, one out of two things recommended to users will be retained by users, proving that the business model is viable. ”

Shen Feng pouted, nonsense, everyone StitchFix is listed, and the business model is certainly viable.

The question is whether it can be done domestically?

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