VIPSHOP's Strategic Move: A Game Changer for Online Retailers in SEA
VIPSHOP is the official South East Asia headquarters of VIP.com which was formed by serial entrepreneur Eric Ya Shen in 2010. Only just over a decade on - VIPSHOP has grown to be an eCommerce GIANT and one of China's largest discount retailers. Based out of Guangzhou, China, their business model is one that optimises the 'flash sales' model of limited-time purchases.
In this exclusive interview for eTail Asia - Hoong An Wong, Sales Director at VIPSHOP talks to us about the rising trend of social commerce - why it’s HUGE in China and how working with the right influencer can boom your business. We discuss their use of AI, Social selling and how these tools can be used to gain huge advantage over your competitors.
“China is way more advanced when it comes to retail than the West. Everything is on the app. Everything is on the phone. Everything's on mobile. Ecommerce adds up to about 28% of the entire sales compared to about 15% in the West”
Hoong An Wong, Sales Director for VIPSHOP
Hoong also goes into:
- How VIPSHOP fend off criticisms of flash sales and built a business using this model
- What VIPSHOP learned by having ‘deals of the week’ to create urgency to buy
- How they use viral marketing to grow their user base
- The creation of bespoke apps that resonate with local regions using their own language, preferences, visuals and more
- Why finding the right ‘social partner’ is critical to reach Gen-Z, Millennials and baby boomer audiences
We hear Hoong’s perspective on the three retail biggest trends to look out for and why their expansion into Southeast Asia is the natural next step for this eTail super power!