Feb 16, 2022|
Many Luxury Brands See Valentine’s Day Surging Growth on JD.com
by Xiaoqian Han
Sales of fashion and luxury goods on JD.com, such as Tory Burch, MCM, FURLA, TOD’S, HUGO BOSS, Emporio Armani, Longines and Coach, increased significantly on Valentine’s Day.
The turnover of trendy women’s purses increased by more than 10 times year-on-year (YOY). Tory Burch, an American brand that recently opened a flagship store on JD.com, saw a 246% increase in sales month-on-month compared to the five days before the Valentine’s Day period (February 9th to 14th). Sales of other brands like Germany’s top leather goods brand MCM and long-standing Italian leather brand FURLA also increased by 318% and 650% respectively month-on-month. Sales of TOD’S increased by 331% YOY, and HUGO BOSS and Coach increased by 168% and 588% respectively YOY.
Various fashion brands have launched limited designs for Valentine’s Day, highlighting romantic love in various styles to provide JD consumers with more special choices. The sales of facial and skin care products, which are popular among female consumers, increased by more than 5 times, and the sales volume of perfumed makeup products grew by 2.4 times YOY. Meanwhile, diamonds, watches, and luxury goods sales climbed by over 4 times YOY, while pearls and K-gold accessories sales increased by more than 2 times. For example, the turnover of Emporio Armani’s diamond ladies’ watch increased by 1521% YOY on Valentine’s Day. The sales of Longines and rorolove watches grew over 200% YOY.
Consumers of different age groups tend to buy different types of items. The younger generation born in the 1990s prefers romantic gifts, and men purchased 70% of the romantic-categorized gifts to express their love. Consumers born in 1985s are the primary purchasers of surprise-categorized Valentine’s Day gifts for their partners. Gift boxes account for a bigger proportion of transaction value in the 46 and above age group, and the consumption data also show that customers in this age group tend to choose practical gifts more than other age groups.
Many luxury brands have joined JD.com as a result of outstanding sales performance on the platform. So far, more than 300 luxury fashion brands have opened official flagship stores on JD.com, allowing customers to purchase items from across the world without leaving their homes and enjoy the high-quality products.