The Innovation Catalyst team at the Fung Academy has been working with DX Quality Outlet to help them understand how they can use the social commerce model to sell apparel and accessories.
DX Quality Outlet, a business unit under the Fung Retailing Group, sells high-end off-season items across China and Hong Kong.
Using the pop-up shop model, DX Quality Outlets protects brands from image damage through offering great deals for customers and enabling brand owners to quickly clear inventory, creating a win-win solution for everyone.
DX has already been incredibly successful in their current approach, however they wanted to explore other sales channels to scale their business. They had experimented with WeChat, a multi-purpose app that is used for social selling – enabling them to sell RMB120,000 worth of goods by using one KOL to post pictures on the app.
However, the team learned that through WeChat they could only sell items worth RMB200 or less, with higher priced items not performing as well.
Read the case study to find out more.
Tags: design thinking , Innovation Catalyst , Innovation Coaching , Retailing