At the same time, Sun Yuanwen also conducte a lot of offline visits and referre to the research of some professional research institutions. For example, Tmall’s “Post-95 Players’ Hand-picking Power List” previously release shows that figures, trendy shoes, e-sports, cosplay and photography have become the five most popular and “money-burning” hobbies among young people born in the 1995s. “Four of the five hobbies are relate to fashion games, and this business can be done,” he adde.
Of course, more importantly, by analyzing the sales data of a large number of MINISO members, it is found that the trendy toys categories such as blind boxes and building blocks have grown faster and faster in the past two or three years. “These are very good support for our entrepreneurial ideas.” Sun Yuanwen said.
As a result, Sun Yuanwen began to prepare for the trendy play project, and registere and establishe the trendy play brand TOP TOY in December 2020. On the 18th of thatIn this regard, Sun Yuanwen said that the spee of TOP TOY’s store opening since its establishment is not an exaggeration. Instead, due to the repeate epidemics in the second half of this year, it intentionally controlled the speed of store expansion.
The Strong Expansion Ability Of Top Toy Is Also Relate To Its Team
Second, stronger supply chain capabilities. TOP TOY stores are not pure collection stores. 70% of their products are purchase from outside, and the remaining 30% of products are from their own exclusive and original products. “We want our product to have both diversity and a moat,” he said.
Third, deeper user understanding. TOP TOY has more user data and has Lebanon Email List more patience to understand and understand user needs. “What we want to do is not a product brand, nor a channel brand, but a consumer brand.” Sun Yuanwen said.The first is inventory. Due to repeated epidemics and other reasons, the overall consumer market was cold in the second half of this year. “In the second half of the year (this year), the actual sales of many fashion play brands have formed a huge deviation from their previous expectations, resulting in greater inventory pressure.” Sun Yuanwen said.
Sun Yuanwen Also Wanted To Be
The second is IP management. “To be honest, we are all in the IP business.” Sun Yuanwen said that IP has a life cycle, and how to manage the life cycle of IP determines the life and death of a brand to some extent. Chongwan brands have several core IPs in their hands. Whether these IPs can continue to develop and create value for them is obviously worth thinking about.” He said.
Of course, it is not impossible to overcome the above-mentioned common challenges. TOP TOY provides a sample for the industry.In response to the inventory problem, TOP TOY not only built a flexible supply chain system, but also opened up multi-channel sales, and also relieved inventory pressure by opening stores continuously.