Tmall,
as one of the biggest eCommerce platforms, attracts a lot of brands to open a
flagship store on it. Generally, sales are the most direct and effective factor
to evaluate a store's operation, and three factors can affect sales – store traffic,
conversion rate and per customer transaction value. Every brand must be dedicated
to improving sales by all manner of means in the competitive eCommerce world.
We would like to introduce some general methods on Tmall store operations:
A bigger challenge for New Look may be to secure the right locations, especially as rivals also seek to add hundreds of stores in the coming years.
"To find 500 stores of real estate and roll that out in the right way ... I think it is virtually impossible," said Franklin Yao, managing partner at strategy consultants Smith Street.
This week we are introducing you to Parkson Core Mall. This mall used to be a traditional Parkson Mall (carrying premium and luxury), but is now mixing it up and experimenting with a new strategy to reach today's Chinese consumers (middle class and millennials). After the mall's transformation Parkson claims their daily traffic is up 800% and daily sales revenue tripled. In their first two days after opening, the mall generated record sales revenue of 23 million RMB.
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