BEIJING, Oct. 18, 2011 /PRNewswire-Asia/ -- Shangpin.com, one of the online retailers of luxury products in China, reported encouraging sales during the National Day holiday in October: a US$20,000+ Patek Philippe watch, a US$10,000+ Piaget watch as well as the Fall/Winter 2011 bags each worth US$3,000 were sold, demonstrating Chinese consumers' strong purchasing power during the holiday. Chinese consumers spent more than US$100 billion during the seven-day holiday of this year, according to data from the country's Ministry of Commerce.
Why do Chinese consumers prefer shopping sprees on holidays? Psychologist Ms. Bai Yanyi said that shopping sprees on holidays is a compensatory behavior. Holidays allow consumers to ease up and relax and represent a compensation for hard work. However, such compensation is not enough and a large number of consumers like to indulge themselves by shopping during holidays.
Shangpin.com achieved strong sales performance during the National Day holiday, mainly thanks to the launch of the Consumer Trust Plan, besides people's increased consumption enthusiasm during the long vacation. This program is designed to bring a great customer experience to consumers. The company's monthly sales have grown 25 percent on average since the implementation of the plan.
Shangpin.com initiated the Consumer Trust Plan in July 2011, when the company raised US$50 million in series C financing. With all the funds gradually in place, Shangpin.com began to implement the program, which is also the firm's long-term strategy that aims to fully improve customer experience through procurement, logistics, customer services and brand strategies, among others.
At present, Shangpin.com has launched a series of unique services, including a 7 days unconditional return policy for the purpose of bringing a premier shopping experience to consumers, and a try-on service available at the time of item delivery which allows consumers to cancel orders through courier services smoothly without any additional costs when they have doubts about or are unsatisfied with their purchases. In addition, Shangpin.com provides free maintenance services throughout China for all sold leather products - even if a customer is in a remote city, his or her leather products also can be delivered through express services to the nearest services center for maintenance. The site also launched innovative authorized clock and watch services centers for all sold watches where the site members can enjoy after-sales services like they bought their products in a specialty store after showing their shopping vouchers.
Shangpin.com CEO Zhao Shicheng said that trust is the basis of a matured e-commerce business to grow, especially for a high-end e-commerce company for high-spenders like Shangpin.com, it is clearly more important. As a result, they are committed to make Shangpin.com become "the most trustworthy luxury shopping site".