Shangpin, China’s online retailer of designer and contemporary fashions, has launched a full-price retail website which will offer Chinese consumers access to designer and contemporary fashion from nearly 80 brands.
With the highest average transaction price of any online retailer in China, Shangpin provides brand partners with access to a network of millions of affluent customers who trust shopping on Shangpin.com, as well as national distribution throughout mainland China.
In launching its full price website, Shangpin is seeking to capitalise on the large and rapidly growing market for luxury goods in China, which is expected to reach US$27 billion in sales in 2015.
“Shangpin knows the challenges that smaller brands have establishing themselves in China, and we therefore provide them with the national distribution, marketing services and local know-how that foreign brands need to succeed in the Chinese marketplace,” said David Zhao, founder and CEO of Shangpin.
Founded in 2010, Shangpin originally launched by introducing the flash-sale online retail model as a rewards system for platinum credit card holders of China Construction Bank, Huaxia Bank and Minsheng Bank. That allowed Shangpin to quickly build a customer base for its full-price website of over 2.4 million customers.
Shangpin provides branding and marketing services and local market expertise to help foreign brands succeed in the Chinese market. It has the highest average transaction price of any online retailer in China of 3000 Chinese yuan (approximately US$470). The average transaction price online in China is only 200 Chinese yuan (about US$31).
Through its digital marketing and public relations support, Shangpin creates brand awareness for its partner brands in traditional, online and social media. This includes creating a brand’s digital footprint in Mandarin. Shangpin also helps brands market with an editorialised, curated approach to fashion brands, with a focus on styling and tips to the Chinese consumer on how to dress and find their own style.
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