On January 11, half a month after the topic of “cold wave warning upgraded to orange” hit the hot search, “Canada Goose sold out of stock” landed on Weibo hot search, with a reading volume of 200 million.
The cause was the surge of customers at the Canada Goose stores located in Shanghai IFC and iapm malls, and the need to queue to enter the store. This is not a phenomenon unique to Shanghai, AI financial news agency visit to understand, Canada Goose out of stock phenomenon in Beijing also appeared.
Nearly ten thousand yuan a piece of Canada Goose why so sought after? In the end, who are the people sweeping the goods?
Directly operated stores out of stock, overseas agency a hard to find
January 12, located in Beijing skp mall Canada Goose outlet store also appeared out of stock phenomenon. The shopkeeper told AI Finance that almost all styles are out of stock. Not only that, thousands of miles away from the Korean duty-free store also appeared out of stock.
A few months ago, Haruko asked her classmate to help her buy a Canada Goose in Korea duty free store. I didn’t expect that the experienced and professional agency would fall in Canada Goose, the Korean duty free store was out of stock and could not buy one. The down jacket did not wait to come, the cold wave has arrived, the domestic customers have been frozen shivering, shopping students have no choice but to play up the idea of “fake goose”.
The agency students found a “fake goose” manufacturer in Henan, the real Canada Goose highest visibility “expedition model”, the direct store price to 10,300 yuan, here only 1300 yuan, only one eighth of the former. Experience how, Haruko’s feeling is: Henan production of “big goose” quality is too good.
For why will sell out of stock? Canada Goose shopkeeper explained that, on the one hand, because the brand has been insisting on the import of Canadian origin, domestic and no OEM factory; on the other hand, the epidemic, the import control of goods more stringent, and the Canadian factory side of the strike, the factory in 2020 to reduce production by 40%.
Canada Goose supply reduced, but in the demand side, this year, repeatedly encountered a cold wave, the consumer’s purchase enthusiasm is high, and eventually sold out of the phenomenon. At the capital level, Canada Goose’s share price has risen 14.48% so far on January 5, with a total market value of $3.587 billion. At the revenue level, Canada Goose’s total revenue for the third quarter of 2020 was C$195 million, with a gross margin of 59.21% for the past twelve months.
IQ tax or middle class standard?
Since then, many domestic stars have planted, more and more celebrity photos wearing Canada Goose appeared on social media platforms, adding another fire to its popularity in the country. Immediately after, Canada Goose took advantage of the heat and entered the Chinese market, opening a flagship store in Tmall. In the same year, on the “double 11“, its one-hour turnover exceeded ten million RMB.
Up to now, Canada Goose has opened about 16 directly-managed stores in China, and its official Tmall flagship store has 1.77 million fans. Among them, in Canada Goose Tmall official flagship store, the first sales ranking is a pike coat, selling for up to 9,100 yuan a piece, monthly sales of 339 strokes. The most expensive one down jacket sells for as much as 15,900 yuan, and the cheapest one baby cap also costs 600 yuan.
Because of this, Tmall listed Canada Goose in the luxury queue. It is safe to say that for the average person, it is difficult to buy a real Canada Goose and requires scrimping and saving. According to the data of the “2020 Salary Level Report” released by Juyouji, the average salary in Beijing is only 12160/month, which means that even in a first-tier city like Beijing, a Canada Goose down jacket of nearly 10,000 yuan is not affordable for the average person to consume.
A core reason why some people are willing to buy Canada Goose is that it has become a status symbol and can satisfy their vanity. Chen Can, a senior consultant working for a consulting firm in Beijing, foresaw the cold wave in November, so he lined up at the Canada Goose outlet store in Sanlitun. Although it was crowded, he was able to buy the style he wanted. Asked why he would rather wait in line to buy Canada Goose, his family is well-off, his monthly salary of 20,000 said lightly: “Because expensive.”
However, the sale price of nearly ten thousand yuan or even ten thousand yuan Canada Goose is not really better than ordinary down jacket warmth? At present, this point is controversial, some people questioned that Canada Goose is actually an IQ tax, the warmth of the down jacket mainly depends on the amount of down and fluffiness, from the effect of goose down than duck down, but unless particularly expensive a few, most Canada Goose and affordable brand, are used duck down.
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