Young people's live broadcast room "explodes in buying" Shanghai's time-honored brands. This year's May 5th Shopping Festival, "Gold is More Popular than Love" live broadcast | Gold | Live broadcast room

The two month long May 5th Shopping Festival is coming to an end at the end of June. Although there is no large-scale consumption voucher, it does not hinder the enthusiasm of young people to buy gold. With the help of digital sales models such as live broadcast, Yu Garden's old temple, Yayi and other old brand gold stores have not only caught up with the gold buying trend, but also attracted a large number of post-90s new users, becoming an important player in the young operation of old brands.

Live streaming sales break new records

"When we watched the live broadcast, we found that many young star chasing people were very active in the live broadcast room where the idol spoke, and said, 'Gold is more popular than love' when they could not get the golden beans." What surprised Liu Yan, vice president of Yu Garden Jewelry Fashion Group, was that the old brand gold store, which originally focused on users over 45 years old, would stimulate young consumers to have such a strong consumption power once it hit the Internet.

Starting this year, the trading volume of Shanghai Laomiao Gold has increased significantly compared to previous years. During the May 5th Shopping Festival, the live broadcast of Laomiao Gold on Alipay, with a single live broadcast sales of 5.5 million yuan, broke the record of the platform, and Yayi Gold sold gold live, with the highest single sales exceeding 1.7 million yuan. What's even more gratifying is that more than half of the consumers who rush into live streaming rooms to grab gold bars are new users born in the 1990s.

When visiting the offline stores of Laomiao, the reporter learned that many consumers have recently received coupons online to inquire about purchases. Guests who usually come to the store will also proactively inquire about promotional discounts such as "1000 yuan off for over 20 grams of gold" expansion coupons and a 10% discount on designated items when they see the store's promotional information. "Nowadays, there is no longer a clear distinction between online and offline promotions. Laomiao Gold's live streaming and different sales methods not only cater to the consumption habits of young people, but also break through spatial and regional boundaries, complement offline stores, and expand the scope of sales channels." Liu Yan said.

It is undeniable that the popularity of time-honored gold brands is closely related to the enhancement of financial awareness among young people. From November 2022 to May this year, the price of gold on the New York Mercantile Exchange increased by 21.1%. Although the price of gold has recently fallen, consumers still have a high enthusiasm for buying gold, especially with the recent decrease in deposit interest rates, and gold bars have become a choice for many young people.

Taking advantage of the trend of "buy buy buy", established jewelry brands such as Laomiao and Yayi also hope to reach more young consumer groups and cater to their preferences through digital means. Liu Yan also told Liu Yan that after live streaming, Old Temple Gold added more than 10000 new members in just two to three weeks. These data have accurate user profiles and shopping preferences, which will be of great help to subsequent member accumulation and deep operation.

Yu Garden Breaks through the shackles of traditional culture and tourism

The popularity of time-honored gold stores such as Laomiao and Yayi is the epitome of the digital transformation of Yu Garden Business District. "Yu Garden is not only a clocking point for tourists from other places, but also a combination of local customers and cultural tourism business, and also a cultural card of Shanghai," said Meng Wenbo, co CGO and chairman of Fuxingxuan.

As the cultural card of Shanghai and the old city center of Shanghai, in recent years, Yu Garden has comprehensively deepened its digital construction at the C-end, B-end, M-end and G-end, accelerated the speed of digital transformation, and constantly improved the new experience of digital retail. It has accumulated more than one million members. Liu Yang, the chief technology officer of Fosun, explained to the reporter: "The digital construction of Yu Garden includes the C end serving users. In addition to the B end serving merchants, there is also the consumption scene of the M end corresponding to Yu Garden, and the G end corresponding to the government." At the same time, the Yu Garden Business District and the BFC Bund Financial Center in the Greater Yu Garden area were respectively awarded the titles of "National Model Smart Business District" and "National Model Smart Store".

During this year's Yu Garden Lantern Festival, the theme of the Lantern Festival was combined with AR technology, and the Alipay Five Happiness Activity was linked to carry out a slow live broadcast. The live Yu Garden Lantern Festival was combined with the virtual reality of AR's mountain and sea classics, which attracted 83 million people to watch, promoted the reality with the virtual reality, and drove the transaction transformation. A rabbit lamp created a sales of 300000 yuan.

The subsequent Huachao Festival and Huashen Festival also continued the popularity of the Lantern Festival. During the May Day holiday, Yu Garden received nearly 300000 tourists at most. "Through the combination of the blessing of activities and the improvement of digital capabilities, Yu Garden continues to attract more users." Meng Wenbo shared two data with reporters - during the Yu Garden Lantern Festival, more than 70% of the local customers were from Shanghai, and more than 50% of the local customers were from Huashen Festival. He was very proud to say that in only half a year, the big Yu Garden plate has been on the hot search list of Little Red Book at least three times

According to the "Key Work Arrangements for Shanghai's Urban Digital Transformation in 2023", Shanghai's urban digital transformation is divided into three major areas: economy, life, and governance, mainly involving demonstration scenarios such as health, cultural tourism, and shopping. In addition, Shanghai will also improve the innovation and development policy of live e-commerce, upgrade the brand level of the digital business circle, and build four benchmark digital business circle business streets, including Yuyuan Garden and Nanjing East Road Pedestrian Street.

"Tourists come and go, and it's hard to stay." Liu Yang said frankly that as a benchmark digital business district, how Yu Garden revitalizes from the traditional cultural and tourism business district is the key exploration direction of future digital transformation.