In recent years, more and more brands have launched joint brands to ignite consumption enthusiasm and be favored by young people. However, CO branded models have high selling price, low cost performance, Limited sales, leading to rush purchase and other situations from time to time. Recently, the joint blind box activity of KFC and bubble Mart was criticized by the China Consumer Association for inducing excessive food consumption. What is the reason behind the explosion of joint models? How far can this “true fragrance” go? The reporter conducted an interview and investigation.
in order to collect all products, they don’t hesitate to spend a lot of money, and the co branded models are very popular
Yang Jinjin, a girl from Shenyang, is a fan of the blind box image “dimoo” under bubble mart, a blind box seller. There are countless “dimoo” blind boxes at home. Recently, I heard that KFC and bubble Mart jointly launched the “dimoo co branded blind box package”. Yang Jinjin took action immediately and ran to a number of stores to rush to buy.
She told reporters that there are two ways to collect this co branded blind box: one is to buy the family bucket package, and the other is to buy the “big God card” to participate in the lucky draw. “I’ve tried both methods, and I’ve also fought for dimoo. Although the blind box is just an ordinary plastic villain, it can’t stand it. It’s cute.” In order to collect the blind box, Yang Jinjin mobilized her surrounding friends to buy a large number of packages. Fast food has filled the refrigerator at home.
The reporter found that some young people who did the same thing with Yang Jinjin were in. Some people buy 106 packages at a one-time cost of 10494 yuan for a complete set of blind boxes. Behind the explosion of the joint blind box, there is even a deformed “substitute food” service. Some people say frankly that “providing professional substitute food service must not be wasted. The things are yours and the heat belongs to me.”
The picture shows the service advertisement of “substitute eating” after the popularity of “dimoo co branded blind box package”. (pictures from the Internet)
Although the China Consumer Association recently criticized the rush purchase of consumers caused by the “dimoo co branded blind box package” and believed that it used the blind box to induce excessive food consumption, the heat of the co branded package has not been reduced. The price of the second-hand blind box on the “idle fish” platform has been fried to 99 yuan, and the hidden one has been fried to more than 500 yuan.
The reporter’s investigation found that the co branded products have been favored by consumers for a long time, and the sales volume is generally much higher than that of ordinary models. For example, the fashion clothing brand SPAO launched a series of cooperation with Harry Potter. The monthly sales of one knitted scarf is as high as more than 1000 pieces, while the monthly sales of another ordinary solid color scarf is only 22 pieces
joint marketing effect of strong brands “1 + 1 > 2”
Why are co branded models popular? According to the reporter’s investigation, through collaborative marketing, brands not only meet the diversified and personalized needs of consumers in terms of product appearance, but also enrich the brand connotation. Some will be supplemented by the gimmick of “Limited sales”, so that the joint brands show the market effect of “1 + 1 > 2”.
Co branded models precisely aim at the consumption orientation of young people. A survey shows that today’s fashion categories with the highest attention of young people are clothing and sneakers, and they also pay high attention to 3C digital and hand-made fashion games. The young consumer groups growing up in the Internet age not only have consumption ability, but also have consumption desire and personalized consumption demand. They pursue richer shopping experience. “I earn enough. I don’t spend much at ordinary times. I just like dimoo. I think my salary can afford this. I’m willing to invest in what I love.” Yang Jinjin said.
Co branded models are the upgrading of brand marketing model. Facing the diversified choices of consumers, a single brand is difficult to support, and the cross-border cooperation between brands plays with new ideas. By combining the advantages of both sides in goods, it can bring consumers exclusive good goods that are not available in the market. “The launch of CO branded models is actually an upgrade of brand marketing model.” Said Xiang Tao, an associate professor at the school of Business Administration of Northeastern University. For example, the joint names of Li Ning and Disney, Ningbo Peacebird Fashion Co.Ltd(603877) and Dunhuang museum have increased the added value of goods by signing with popular IP.
The explosion of CO branded models highlights the recovery of China’s consumer market. According to the data from the Ministry of Commerce, from January to August 2021, the total retail sales of social consumer goods in China was 28.1 trillion yuan, a year-on-year increase of 18.1%. According to expert analysis, one of the reasons why the joint funds can “applaud and win the audience” is the continuous recovery of China’s consumer market. “Our residents’ disposable income has maintained stable growth, the consumer market has shown strong development resilience, the enhancement of market vitality and consumers have money are all the reasons to support the hot sale of CO branded goods.” Zhang sining, director and researcher of the Institute of philosophy of the Liaoning Academy of Social Sciences, said
if you want to “really fragrant” co branded models, you need to improve the cost performance
With the explosion of various co branded products, more and more brands have entered the joint brand, but the co branded products have high price, low cost performance, CO branding for CO branding, Limited sales, leading to rush buying, etc. people in the industry believe that the “Zhenxiang” co branded products still have a long way to go if they want to better develop the market.
Brand Co branding should first consider customer needs and consumption experience. Bian Ying, who works in Beijing, bought a brand co branded loose powder gift box, which contains a doll and five loose powder. “This is not a large set of loose powder boxes. The price of one more doll is so expensive. Who can use so much loose powder? When you look at the brand, you have no intention.” Bian said. In addition, there are netizens Tucao a brand joint box “Jerry saving cost savings”, make complaints about this joint product “no brand image, 399 yuan chassis is not as good as the 100 yuan outfit common box.” Industry insiders believe that the joint brand products must first achieve the ultimate products and pay attention to the consumption experience, otherwise the joint brand products will only become a flash in the pan FMCG.
At every premium, consumers need to shop rationally. Due to the limited number of CO branded goods sold, it is unable to meet the purchase needs of consumers. Some people deliberately hoard goods and resell them, which also leads to the shortage and premium of many co branded goods. “Fried shoes, fried baby and fried joint names will lead to abnormal rise in commodity prices. Consumers need to buy rationally. When commodity prices are fried to a high point, they will fall back. It is the receiver who will be hit.” Xiang Tao said.
Brand design needs to improve texture. Zhang sining said that snapping up co branded funds at “cost” is the embodiment of irrational shopping. Young consumers, in particular, need to give more consideration to their own consumption ability and consumption demand when shopping. In addition, if the brand wants to attract more consumers in the fierce market competition, it must draw nutrition from the traditional culture and improve the design level and texture. The behavior of “joint name for joint name” will damage the brand reputation.
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