In the past two years or so, Taipei 101, like other boutique retail stores, was hit by the new crown epidemic and lost more than 10 million tourists a year. However, during this period, its performance not only surpassed that of 2019 before the epidemic, but it has continued to grow so far.
One of the keys to Taipei 101’s growth against the trend is to respond quickly to the epidemic and focus on operating local members. General Manager Zhu Liwen said, “Local customers have loyalty and will continue to consume. The operation is long-term.” During this period, Taipei 101 not only made up for 30-40% of the annual revenue of tourists in the past, but also created higher performance through membership management.
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Not only the consumption amount of members in the first half of 2022 has increased by 30% compared with last year, but the number of people who need to spend 1.01 million in a single day to obtain the honorary membership is now about 2,200, which is nearly double compared to about 1,200 before the epidemic.
“Under the epidemic, we found that, first, consumers moved closer to big brands and pursued safety in their purchasing behavior. Second, the epidemic did not affect the customer base at the top of the pyramid, and many well-known watches were still hard to find. We also observed that , Our customers and members are very sticky. Our members are slightly older than general department store members, but they are all high-asset customers. Generation X is 40 and 50 years old, and generation Y is 20 and 30 years old. Basically, the performance contribution accounts for the members. 80%, and it is still growing.” Zhu Liwen said. Therefore, when the world is in the shadow of the epidemic in 2020, and many international watch exhibitions have been suspended, Taipei 101 made good use of its advantages of gathering many boutique flagship stores and decided to bring forward the jewelry and watch exhibition, which has always been held in September, to July. held. Gathering the global limited edition of jewelry watches, not only the attendance rate of the event exceeded 80%, but also the sales performance increased by 40% compared with the previous year. “Because of the impact of the epidemic, members of Taipei 101 can see, appreciate and buy unique products.”
According to the statistics of Taipei 101, from May to September 2020, the museum will hold a total of 123 brand marketing activities, and expand the high-end consumer customer base through cooperation with banks, car dealers and other cross-industry partners.
Online appreciation, small boutique exhibitions, warm services are still provided during the epidemic
During the interview, the sofa area on the other side is also conducting a focus group interview with 101 and honored members. The general manager said with a smile that he had heard customers say, “He doesn’t dare to use the bathroom in other homes (shopping malls).” They attach great importance to the feedback from members: repairing toilets almost every year, setting up charging stations in the parking lot, and optimizing the direction of the museum Indicators, etc., to give customers clearer guidance.
On the other hand, in response to the impact of the epidemic on the willingness of some customers to visit, General Manager Zhu Liwen said, “We try our best to make online services the same temperature as offline.” Taipei 101 will launch Stage101 in 2020, and members can use this The platform interacts with real people in real time, and can also make an appointment for appreciation online. The brand knows the needs of members and can prepare in advance. On the other hand, Stage101 integrates online and offline CRM (customer relationship management) systems to help brands guide customers accurately. For example, when Dior holds brand events, Stage101 will send invitations to Cartier, Chanel, Customers such as Boucheron sometimes cross-sell across industries, with restaurants and apparel brands, “often with a high success rate.”
For the members of the honor club, Taipei 101 will personally call to explain the content of the brand activities, and agree with the members on the appreciation date. It will also cooperate with various brands to hold relatively private small watch exhibitions to introduce the characteristics and craftsmanship of boutiques. In addition to honorary members, customers who have the potential to become honorary members are also invited.
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Focusing on the needs of local customers, creating a refined living circle
Zhu Liwen said that in the future, Taipei 101 will still focus on local customers and continue to deepen local membership operations. Taipei 101 found that after 3 years of Premier membership, the churn rate dropped significantly. Therefore, their strategy for managing members is to increase the retention rate of this group of high-quality members. “We hope that our members will become more and more attached to us. We hope that when they want to buy, eat, or travel, they will think of Taipei 101.” Recently, Taipei 101 has been actively creating a refined life circle, such as introducing Taiwan’s first mid-to-high-priced clothing brand COS, opposite 2020 boutique glasses, and audio brand B&O. An experience space is also set up to run hand-made, cooking classrooms and other activities, hoping to attract nearby residents and tenants of the building, including the Taipei 101 Mid-Autumn Mooncake Gift Box, which was first launched in July, is an attempt centered on customer needs.
He is currently the general manager of Taipei Financial Tower Co., Ltd. and the chief operating officer of the shopping mall business department, and the executive director of the Republic of China Retail Department Store Association. He used to be the Deputy General Manager of the Administration Office of the Taipei Financial Building Corporation.