![]() ![]() Perfect Diary has been able to perform product development that carefully analyzes collected consumer data to bring to market products that consumers find appealing. ![]() No matter how many KOL you mobilize, crucial products need to be evaluated for profits to continue to grow. These efforts have proven successful, and customer loyalty to the brand has risen significantly - while their repeat purchase rate in the second quarter of 2019 was 38.9%, come 2020 it had risen to 41.5% for the same period.Įven with over 200 offline stores, 90% of their sales remain online These are used to communicate with their userbase, allowing them to notify about new campaigns and take in user feedback. Not only do they have an official WeChat account but they also run accounts for sales staff from stores across the country through the use of mini-programs. In particular, they’ve built up their WeChat presence, having attained 15 million followers there. ![]() Outside of e-commerce, Perfect Diary has also opened accounts on a variety of platforms that include social media and video services, and their overall followers amount to over 48 million as of the end of November 2020. Around 800 of these KOLs are said to have over a million followers each. Perfect Diary is partnered with close to 15,000 KOLs and they’ve utilized their own data-driven management system to sidestep agencies and directly partner with them. The reason for Perfect Diary’s rapid growth in such a short period lies in their rigorous “digital supremacy” approach, and the crucial element backing their sales have been KOL. The current market capitalization of Yatsen has also surpassed 12 billion dollars. Their 2019 sales saw amazing growth, increasing by 363.7% over the previous year to 3.5 billion yuan (US$539.8 million), and their performance was also strong in 2020 despite the pandemic - sales in the third quarter up to September grew by 70.2% over the previous year to 3.8 billion yuan (US$586 million), already surpassing the total sales of the previous year. According to Yatsen’s IPO registration statement submitted to the US Securities and Exchange Commission (SEC), for three years since its launch, the brand maintained the most online sales out of all Chinese D2C brands. The brand has grown through an e-commerce-focused D2C model that targets Gen-Z consumers. Launched in 2017, the Perfect Diary brand is characterized by its reasonable price ranges and its Western-style branding. How did it defy tough market conditions to grow so much so fast? Yatsen represents the first Chinese cosmetics brand to list on the US stock market. Yatsen, the company that runs Chinese cosmetics brand Perfect Diary, launched its initial public offering on the New York Stock Exchange in November 2020. ![]()
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