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What Opportunities Will The "Long Tail Effect" Of The Expo Bring To The Fashion Industry

2023/11/13 13:57:00 0
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Entry Expo

As the world's first national level exhibition with the theme of import, the Expo has been held for six years by the Ministry of Commerce and Shanghai Municipal Government. In the industry, this is an exhibition that responds to the top-level design of the market. The strategic direction is the first important thing.


Just as Wu Yue, president of LVMH Greater China, expressed his views on the Group's participation in the Expo for four times, he accurately interpreted the significance of many fashion brands' participation in the Expo, He said: "As a representative of international high-end brands, especially the fashion industry, we are releasing new products every day, every week, every month and every quarter through carefully established retail stores in major cities. Therefore, participating in the Expo is not mainly to release new products. Most importantly, we salute the spirit of entering the Expo and regard it as a stage for dialogue and exchange between China and the world."
Indeed, no matter how the world situation changes, the fair held as scheduled is not only a commitment, but also transmits different messages every year.
For example, in 2020, the world economy will rarely decline significantly under the haze of the epidemic. The "special message" that the Expo will deliver to the world is that China will not stop opening up, and China's big market will become the ballast of the world; As the first major international exhibition after the Twentieth National Congress of the Communist Party of China, the last year's Expo, the fifth Expo, the first show of "new technology", the gathering of "fresh goods", and the surging "green tide", is the "wind vane" of the Chinese market; This year, after a series of measures to boost the economy and complex international relations become clear, what kind of "China's proposition" and market implications does the 6th China Expo, the "window" of China to the world, show?
This year, the fashion industry participated in the Expo, including the world premiere, Asia premiere, China premiere as always, as well as "exhibits become commodities". Beyond the strategic layout, the market strategy of pragmatism gradually emerged on the stage of the Expo. We summarized three key opportunities after reviewing the data performance of all exhibitors at the 6th China International Fair for the Promotion of Fashion Industry and the outstanding cases of relevant participants in the fashion industry.

About 1500 representatives from 154 countries, regions, international organizations, politics, business and other sectors of the world attended the opening ceremony

3486 enterprises from 128 countries and regions participated in the exhibition, and 289 of the world's top 500 and industry leading enterprises reached the highest number ever.
The intended transaction amount was US $78.41 billion (calculated by one year), an increase of 6.7% over the previous session.
In early November, the International Monetary Fund (IMF) predicted that China's economy would grow 5.4% this year, compared with the previous forecast of 5%. Behind the obvious increase in expectations, it shows the resilience of China's economy and its economic performance in the third quarter. Almost at the same time, the 6th China International Fair ended with an intended turnover of 78.41 billion US dollars, up 6.7% year on year. In fact, the Expo, which has a cumulative turnover of more than 350 billion dollars for six years, has attracted many Fortune 500 participants. In the fashion industry, Kaiyun has participated for five consecutive years, and LVMH and Lifeng have completed their fourth exhibition this year. With Luxury Group as the representative, global fashion enterprises express the belief of continuously strengthening close ties with Chinese consumers and partners through Jinbo, with a view to opening up new opportunities in collaboration.
However, in fact, the current reality for fashion industry practitioners is that the global economic situation is full of uncertainty, the recovery momentum is obviously insufficient, and all parties are looking forward to opening up a new situation. As a link port between China and the world trade, what confidence does Jinbo give to the market in addition to the exhibitors who come as promised and the highest intended turnover over the years?
In 2023, the luxury consumer market represented by jewelry and watches will perform well. As one of the world's leading boutique groups, Richemont Group, which has outstanding advantages in the fields of jewelry, watches and writing tools, achieved a record high sales in 2023. This time, it participated in the exhibition with eight boutique brands, including Cartier, Vacheron Constantin and Van Cleef&Arpels. The theme of its exhibition, "Time Witness the Eternal Beauty", not only reflects the ability of luxury goods to pass through the economic cycle, but also confirms the consumption capacity of the Chinese market with 400 million middle-income groups. ‍‍
The high-end market has shown resilience and vitality under the high-quality development of China's exhibition layout. Fast fashion also shows the trend of transformation and upgrading in this era. The three key words of H&M Group, namely, cutting-edge design, green production and disruptive innovation, represent the next milestone development of this field in the Chinese market. The fast selling group represented by Uniqlo has four exhibitions in Jinbo. This time, Uniqlo will enter the real live broadcast room in Jinbo, online and offline "cloud shopping exhibition", linking multiple stores and Jinbo booth live broadcast in China. It can be seen that China's digital economy and e-commerce advantages will continue to be applied and amplified by international brands. At the same time, the market will tend to be rational and pragmatic, and at the same time, Achieving revenue growth is the key to winning the future. ‍‍

442 representative new products, new technologies and new services launched for the first time; Attraction of Innovation Incubation Zone
More than 300 innovative projects from 39 countries and regions participated in the exhibition, more than the total of the previous two sessions. Trade and investment reached 416 cooperation intentions with nearly 4000 exhibitors.

96 centralized signing activities and more than 600 cooperation intentions were reached. 71 new product launch activities, displaying 142 cutting-edge technology products.

738 institutions participated in people to people and cultural exchanges and exhibitions, with more than 200 booth activities and public benefit performances, and the number of related activities exceeded previous levels. ‍‍

During this year's Expo, six exhibition areas focus on high-quality development and high-quality life. Innovation and leadership have become the common theme, and technology empowerment has become the mainstream trend. Strong sense of technology has become the main feature of exhibitions and exhibits.
Take Nike, which entered the Chinese market in 1981, for example. Through continuous investment and innovation, it has become the leader in the Chinese sports consumer market. In the first quarter of fiscal year 2023, the brand's revenue increased by 2% on the basis of unchanged exchange rate in the same period last year, while the Chinese market grew by 12% year on year, achieving double-digit growth for two consecutive quarters. It is also an important manufacturing, export and innovation center.
While the Chinese market has become Nike's second largest market in the world, it is also an important manufacturing, export and innovation center. At the Expo, Nike announced the important progress on its innovation journey: it will build the first sports research laboratory in Asia at its Greater China headquarters in Shanghai in 2024.
Obviously, technology can not only help brands break boundaries, better serve consumers, and win greater market share, but also help brands to better complete "localization" operations. The latter will play a more long-term value in any potential market with a longer cycle.
In fact, the cosmetics technology of daily chemical enterprises has always been popular at the Expo. This year, L'Oreal showed four major beauty technologies represented by Paris Kashi K-SCAN AI intelligent precision tester, Armani beauty Meta ProfilerTM muscle microscope, 3D "shu" exclusive eyebrow makeup for Jumura Show, and L'Oreal HAPTA precise intelligent makeup applicator; Estee Lauder shows the image acquisition capability of the new generation scientific research photography system of VISIA CR 5.0; Moisture Map skin moisture distribution tester and Hirox skin digital microscope to solve skin problems; Shiseido Group has demonstrated three major scientific and technological components of Asian skin anti-aging... As the leading enterprise in China's beauty industry, the parent company of Perfect Diary Yixian Group released its strategic layout of "Yixian Technology Road" at the Expo, and built three global independent research and development centers at home and abroad to gather world-class scientific researchers, It provides innovation impetus and scientific and technological support for all brand products under the Group.
Of course, compared with "black technology" and innovative elements, what is more striking is the investment in overweight technology. Represented by the "BIG BANG Cosmetic Technology Creation Camp" project initiated by L'Oreal, the International Cosmetic Group is accelerating from exhibitors to investors to witness and participate in the opening and innovation of the Chinese market with technology as the breakthrough point.

3060 Double Carbon Plan - "Zero Carbon into Expo and Zero Plastic for Expo 2.0" action, purchased 8 million kilowatt hours of green power through inter provincial green power trade, and achieved 100% green power exhibition for the first time.

Represented by beauty enterprises, in addition to scientific and technological elements, another key word is green concept. Almost all beauty groups showed their determination and achievements in sustainable development on the stage of the Expo.
For example, Shiseido demonstrated the 100% recycling mode through green packaging with the "Renewal Plan of Red Skin Activating Essence Empty Bottle"; Estee Lauder continuously improves the proportion of natural ingredients in product formula to realize the sustainability of product formula. Kaiyun Group, with activities such as "Jumping Her Shadow", Kering Generation Award Kaiyun Sustainable Innovation Pioneer Award, is committed to inspiring society and promoting change in the fields of art, culture and sustainable development
As the "full time student" of the six sessions of the Expo, Bailian Group has demonstrated the ability of sustainable fashion narrative in an all-round way - with the theme of "the balanced progress of sustainability and life aesthetics", the brand responsibility of the b á lancing, its fashion buyer store, and the narrative context of "Shifting Landscapes/Transmutation", to build a BEST-LINKS booth of about 1000 square meters, The landscape changes with time, environment and other factors.
Under the 3060 double carbon plan of China, the 6th China Expo has carried out the action of "Zero Carbon Expo, Zero Plastic Expo 2.0", purchased 8 million kilowatt hours of green power through inter provincial green power trade, and achieved 100% green power exhibition for the first time. Encourage the recording of carbon footprint and lead the trend of "carbon neutral" era. Not only in the Expo, but also in the whole Chinese market, "low-carbon", "environmental protection", "sustainable" and "ESG" are hot spots. Focusing on the era theme of "green fashion", the apparel industry alone has a global market size of 2.5 trillion dollars at the "sustainable fashion" track. It can be said that, like the theme of the previous era, "Internet+", any project can be reshaped and innovated through "sustainable+", especially in the fashion industry.
As the world's second largest consumer market and the largest trade country in goods, China is the key hub of the world economic cycle. Behind the outstanding performance of fashion consumer goods such as cosmetics, shoes and clothing at the 6th International Fair for the Promotion of Fashion, is the current situation that the global fashion industry is facing the Chinese market. Its debut in the Expo certainly reveals the fact that the Chinese market is an important part of the global supply chain and a key link in the global value innovation chain. Next, how to use the determination and confidence of Jinbo to achieve win-win cooperation and benefit the world, as well as the long tail effect it has released, to cultivate in the vertical industry is a common challenge facing the industry.
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