qiu wenbin, chairman and ceo of baozun group: how do international brands view the future chinese market?
2024-10-06
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caption: photo provided by qiu wenbin, founder of baozun and chairman and ceo of baozun group, interviewed (the same below)
there is still one month left before the opening of the seventh china international import expo, and baozun group’s preparations related to the ciie are in full swing: several foreign companies it serves are exhibitors, such as canadian fashion brand aldo, which will appear in the consumer goods exhibition area, and french essential oils. skin care brand nuxe will open a booth at the french national pavilion; baozun, as a member of the "6-day + 365-day" trading service platform of the shanghai trading group of the ciie, provides exhibitors with one-stop e-commerce solutions. in addition, baozun will also deeply participate in the "silk road e-commerce" cooperation innovation and development conference and the launching ceremony of the 2024 national "silk road cloud products" e-commerce festival, focusing on displaying more distinctive and technologically rich digital business services and product solutions.
what do foreign businessmen think of the chinese market? what specific new changes in service requirements are there? baozun group, which has helped more than 400 international brands develop in china, has first-line experience. mr. qiu wenbin, founder of baozun and chairman and ceo of baozun group, recently accepted an exclusive interview with a reporter from xinmin evening news.
qiu wenbin believes that international brands place great emphasis on professionalism. they know the strengths and weaknesses of their own capabilities, which core businesses they must do in china themselves, such as branding, and which ones they must rely on domestic partners, such as channels and logistics. "china's economy is developing rapidly, and e-commerce is developing particularly rapidly. since its establishment 17 years ago, baozun has continuously developed capabilities to meet the needs of these cooperative brands, and everyone hit it off. our gmv (gross transaction volume) has increased from 100 in the first year of establishment. more than 10,000 yuan, it is now far ahead of its peers.”
at present, international brands are constantly putting forward more and more new requirements for chinese partners. in addition to basic operations, customer service, it, and logistics, the requirements for market capabilities are gradually increasing, especially online marketing, product market analysis and r&d guidance, business intelligence, artificial intelligence. qiu wenbin said that baozun has also been cultivating and accumulating new capabilities, which have been shaped by the long-term cooperation with more than 400 international brand customers and consumers in the chinese market.
caption: hunter brand under baozun brand management opens a limited-time experience store in zhangyuan, shanghai
before founding baozun, qiu wenbin, who graduated from the department of electronic engineering at tsinghua university, initially worked as a system engineer at a foreign company in shanghai, providing it services to many international brands. my first entrepreneurial experience was in software systems, providing consumer goods brands, especially clothing companies, with a complete set of solutions from retail pos to back-end inventory and business intelligence. "the predecessor of baozun is our software company, which has accumulated a wealth of technology, customer and team resources for the future development of baozun, and has become a key competitiveness of baozun when it is engaged in e-commerce. baozun has grown from the leading from the first day, using an enterprise-level system, which can support billions or tens of billions of orders. to sum it up in one sentence, the use of "electricity" reduces the difficulty of "business". this has allowed baozun to not only make clothing in the past 17 years, but also make a series of products such as electrical appliances, home furnishings, nutritional products, cosmetics, etc., because it does not require a lot of difficulty, and the difficulty of sales itself has been reduced, creating a good environment for new enterprises. a stage is provided.
competition in the chinese market is becoming increasingly fierce. what do overseas brands think of the future development prospects of the chinese market? qiu wenbin replied that the chinese market is definitely a very important market for international brands. "almost no international brand will say that it does not need the chinese market." since china's entire retail environment is currently facing great challenges, it is necessary to adjust strategies. according to his observations of foreign businessmen, making chinese businesses more independent will be a major direction for future strategic adjustments of international brands. specifically, there are many ways to achieve this, such as giving chinese management teams more decision-making power, use local technology and business systems, or consider changing some directly-operated stores into authorized stores, and choose to cooperate more with local ecological partners in china.
qiu wenbin added that e-commerce is baozun’s specialty. in addition, baozun’s brand management business can also handle other needs of the brand in addition to operations. cooperation between the two parties will make it easier for international brands to launch their business in china.
after many years of entrepreneurship and development in shanghai, qiu wenbin evaluates shanghai's business environment as "very good", "you may not feel it when the market is going well, but you will feel it deeply once you encounter difficulties. the government cares about enterprises very much." development, which is very rare.” in addition, foreign businessmen favor the shanghai market and like to set up china and asia-pacific headquarters here. an important reason is that shanghai consumers are the best able to understand the connotation of international brands and have innate market development conditions. "if we do well in the shanghai market, we can also succeed in other places in china."
xinmin evening news reporter tan ying
