Chow Tai Fook Competitive Product Analysis Report

1. Background

1.1 Product Analysis

The total annual sales of gold and silver jewelry in my country has still maintained a Growth, with an increase of 46% in 2010 and 42% in 2011. Although the growth rate slowed down after entering 2012, the annual sales of gold and silver jewelry in 2012 and 2013 still reached 220.9 billion yuan and 295.9 billion yuan respectively, a year-on-year increase of 16% respectively. % and 26%. China's netizens have reached 649 million, the number of online shoppers in China has exceeded 310 million, and jewelry e-commerce has become the second largest development channel in the jewelry industry. The survey shows that in 2013, people purchased jewelry through online channels, accounting for about 30% of the total consumption of the jewelry industry. The proportion of online jewelry sales is bound to continue to rise in the next few years.

1.2 Competitors

1.21 Direct competitors of products

Chow Tai Fook Tmall store, Chow Tai Fook JD store, Secoo and other same brand e-commerce platforms

1.22 Product indirect competitors

Chow Sang Sang, Chow Tai Sang, Lao Feng Xiang and other brand e-commerce platforms

This report will focus on Chow Tai Fook Tmall store and Chow Sang Sang JD store as competing products analyze.

2. Competitive product analysis

2.1 Brand analysis

Chow Tai Fook: Chow Tai Fook Group is a powerful private business group owned by the Cheng Yu Tung family, with a market value of more than 256 billion Hong Kong dollar. The group's business is mainly operated by two companies: one is Chow Tai Fook Enterprises Co., Ltd., which focuses on investment holding business, and the other is Chow Tai Fook Jewelry and Gold Co., Ltd., which specializes in Chow Tai Fook brand jewelry, jade and gold ornaments.

Chow Sang Sang: Chow Sang Sang Jewelry is a well-known jewelry brand under Chow Sang Sang Group International Co., Ltd. With a modern and fashionable image, we provide customers with one-stop professional jewelry services. We have always adhered to the management philosophy of "hands-on work, customer first, genuine goods at reasonable prices, and quality first". With this pragmatic and worldly philosophy, Chow Sang Sang has built a comprehensive self-operated store platform, committed to providing customers with outstanding professional services, so that high-quality jewelry can be displayed; with the goal of excellent corporate governance and operations, we sincerely treat customers with sincerity.

2.2 Target group

According to Baidu Index data from September 2013 to the present, the target groups of Chow Sang Sang and Chow Tai Fook are almost the same, with more than 80% of them aged 20-39. And most of its target people are in first-tier cities.

However, it has been observed since 2015 that Chow Sang Sang’s target group is getting younger, with the proportion of people aged 20-29 increasing. It is speculated that Chow Sang Sang is targeting young people.

Summary: All three stores have upper navigation bars, and Ctfeshop has category navigation on the left. Tmall’s category navigation is in the middle of the page, but compared to Tmall and JD.com, the level of classification needs to be improved. It is commendable that Ctfeshop has floor navigation to facilitate customer selection.

3. Summary

Through comparative analysis, Ctfeshop still has certain disadvantages compared with Chow Tai Fook Tmall flagship store and Chow Sang Sang JD flagship store. The two rely on their huge platforms to gain a large potential customer base. However, the current neutral position can avoid the impact of malicious attacks from the two camps. Ctfeshop should strengthen the optimization of the site, the improvement of services, and the publicity and brand awareness outside the site to continue to develop itself.