Created in 2008, the Chinese VIP marketplace, or 唯品会 in Chinese, has become one of the main competitors of such market players as Tmall and JD.com. At the moment, the range of the site includes a wide range of products - from clothing and shoes to household goods and food. But the main difference between VIP and other marketplaces is specialization in luxury goods. According to official data, 30,000 elite brands from all over the world are represented on VIP.com. In 2018, the company's annual revenues reached 84.5 billion CNY (129 million USD), while the total number of orders in one year exceeded 430 million.
VIP.com is the leader among online stores, providing discounts to its customers. The total number of active users in 2019 was more than 60 million people.
Now the official website VIP.com has 340 million registered users, and the repeat purchase rate is 86%. However, it should be borne in mind that VIP is not the most suitable platform for small and medium-sized businesses. The Chinese marketplace focuses on working with major brands, such as - Calvin Klein, Armani and Tommy Hilfiger.
Both Chinese and foreign companies can open a store and start selling on VIP.com. To do this you need to obtain the following:
a business license issued in China or abroad;
an identity document of the representative (passport or driver's license will be suitable);
bank account statement;
To successfully register a store for VIP you need to pay a guarantee fee of approximately 100,000 CNY (15,000 USD). At the same time, the platform also charges each purchase – from 3.8% to 9.8%, depending on the industry and business. The annual fee for using the platform will be 600 CNY (90 USD).
The platform has its own advertising channels for promotion, which collect user behavior data not only within the platform itself, but also from other platforms such as Baidu and Tencent.
If you want to enter the Chinese market, but don't know where to start, China Digital Marketing Agency is ready to provide a full range of services to bring your brand to China.
Our team will help you:
to register in VIP and open your store
to set up a store and design fly pages
to organize a support service in Chinese
to launch an advertising campaign in the platform