"New Chinese-style clothing" is extremely popular, with monthly sales of 200 million on Douyin. Which businesses are making huge profits?

Since last year, "New Chinese Style" has become the new favorite in the clothing industry, setting off a wave of craze on various platforms. Under the craze, how are the new Chinese style clothing merchants and related products on the platform performing? Which merchants have taken over this overwhelming wealth? Which products are selling the best? The author uses the data of Douyin e-commerce as an example to analyze the relevant situation of new Chinese style clothing in the first two months of 2024.

Since last year, the "new Chinese style" has become the new favorite in the fashion industry. From horse-faced skirts to national style suits, many businesses have become extremely wealthy under the "new Chinese style" craze.

On platforms such as Douyin and Xiaohongshu, content on related topics continues to emerge, driving this track to continue to be hot. This year's Spring Festival, the horse-faced skirt has become the first battle robe for young people.

Amid the craze, how are the platform’s new Chinese-style clothing merchants and related products performing?

Xinbochang uses the data of Douyin e-commerce as an example to analyze the relevant situation of new Chinese-style clothing in the first two months of 2024 - monthly sales of 500 million, single product sales exceeding 5 million, a large proportion of products below 200 yuan, live broadcast and short video...

1. “New Chinese-style clothing” is popular

This Spring Festival, the new Chinese style has become the most popular choice for "Year of the Dragon uniform".

It is understood that Hanfu has grown into a prosperous market with annual sales of nearly 10 billion yuan. By the end of 2023, Taobao will add "Hanfu" as a secondary category. Data from the Pinduoduo platform shows that Chinese-style Hanfu and other clothing are one of the hot products in the past two years, with an annual growth rate of more than 230%.

On March 6, Douyin E-Commerce released the "2024 Douyin E-Commerce Women's Consumption Trend Data Report". The data showed that in the past year, the number of orders for new Chinese-style clothing by female users on Douyin E-Commerce increased by 195% year-on-year, among which the order volume of horse-faced skirts increased by 841% year-on-year, and the order volume of Hanfu, Songbrocade jackets, and Xiangyunsha clothing also increased significantly, with year-on-year growth of 336%, 225%, and 112% respectively.

There are traces of the popularity of the new Chinese style.

One is the change in the market environment. As more and more female stars wear horse-faced skirts to go out and walk the red carpet, bloggers on various platforms share new Chinese style outfits. The once niche "new Chinese style", "horse-faced skirt", "Hanfu" and other styles have become new popular styles. It is reported that "horse-faced skirt" has twice entered the top three hot searches on a certain e-commerce platform within a week. Moreover, "horse-faced skirt" is one of Taobao's top ten products in 2023.

Another is the influx and efforts of more and more businesses. According to Qichacha data, there are 5,853 Hanfu-related enterprises in my country. In the past decade, the number of registered Hanfu-related enterprises in my country has shown an overall growth trend. In 2023 alone, there were 2,686 new Hanfu-related enterprises in my country, a year-on-year increase of 355.25%, reaching the peak growth rate in the past decade.

These new Chinese merchants now know how to combine relevant topics and better integrate content with sales. Among them, platforms such as Douyin and Xiaohongshu are important content marketing platforms.

According to Douyin e-commerce data, during the Douyin Mall Good Goods New Year Festival from January 13 to January 28, the number of views of short videos with the topics #国潮 and #新中式穿搭 on Douyin exceeded 500 million. With the promotion of a large number of high-quality national style short videos and live broadcast content, new Chinese style clothing became popular on Douyin e-commerce, with sales increasing by more than 21 times year-on-year.

According to the huge amount of calculations, the number of views on topics such as #国潮 and #新中式国风 exceeded 5 billion. As a popular item, the "horse-faced skirt" has increased its content by nearly 16 times. As of early February, there were more than 2.6 million notes on the "new Chinese style" on the Xiaohongshu platform.

So, with the new Chinese-style clothing booming, which businesses have taken advantage of this overwhelming wealth? Which products are selling the best?

Xinbochang combined the data from Youmiyoushu to conduct a corresponding inventory and analysis of the new Chinese-style clothing data of Douyin e-commerce in the past two months.

2. With monthly sales of 200 million, which businesses are making huge profits?

Data shows that since 2023, the sales volume and sales revenue of Douyin's new Chinese-style clothing have been on an upward trend.

Among them, in terms of sales volume, January 2024 increased by 1.56 times compared with January 2023, and the month with the highest sales was September 2023; in terms of sales revenue, January 2024 increased by 6.96 times compared with January 2023, and the month with the highest sales revenue was January 2024, with monthly sales exceeding 200 million.

It can be seen that in December and January, which are close to the Spring Festival, the sales volume and sales revenue data are continuously rising. This is inseparable from the consumption demand of many young people to buy New Year's uniforms. Previously, some media reported that before the Spring Festival, the horse-faced skirt was even in short supply.

Judging from the data of live streaming sales, from January to February 2024, the store with the highest GMV from live streaming sales was the "Zuiyuduo Official Flagship Store", which brought in 2.5 to 5 million goods in two months and had sales of 10,000 to 25,000.

"Zui Yuduo" is a new Chinese-style women's clothing store that specializes in horse-faced skirts. Searching for "Zui Yuduo" on Douyin will reveal 13 related accounts, of which the official flagship store account has the most followers, with 780,000. The account is broadcast every day and has released more than 500 short videos, all of which are related to horse-faced skirts, including the details of the horse-faced skirts and the effects of models wearing them.

In the store, the product that tops the best-selling list is the "Airplane Sleeves", which is priced at 89 yuan after coupons; the second is the "Mother-of-Pearl Woven Silver Horse Face Skirt", which is priced at 168 yuan after coupons.

From the live streaming sales rankings, we can also see that in addition to the store accounts, there are two expert accounts, "I am Qiqi" and "Doudoucocomiracle".

Among them, "Wo Cai Qiqi" is a clothing anchor who sells a variety of clothing types, including new Chinese-style suits and many daily clothes; "Dou Dou cocomiracle" has the fewest followers among the accounts on the list, with only 63,000 followers, but sold 500,000 to 750,000 in 2 months.

The new broadcast found that the clothes sold by "doudoucocomiracle" are all new Chinese style, including suits, horse-faced skirts, etc., and they all come from the same store - Zhi Jingjing|Yi. Douyin shows that this is a new store.

Next, let’s take a look at the top 10 products in terms of sales of new Chinese-style clothing.

The product with the highest sales volume is "Xinghe Han Ge (Cui Yu) Horse-faced Skirt Chinese Style Daily Spring and Autumn Horse-faced Skirt Gold-woven Horse-faced Skirt Hanfu Horse-faced Skirt", priced at 326 yuan, with sales volume of 75 million to 10,000 and sales of 5 million to 7.5 million.

Awei, the person in charge of store promotion for the Hanfu store "Xinghe Hange", once introduced that the main product of Xinghe Hange is the horse-faced skirt. When the store first entered the Hanfu e-commerce field, the sales were relatively flat. Three months later, the brand successfully launched a hit on Douyin, and it has since ushered in an explosion. At that time, the platform's daily sales alone reached 200,000 yuan.

It can also be seen that half of the TOP10 products on the product list are horse-faced skirts, with sales exceeding one million.

Not only that, among the products on the list, except for the 7th and 10th products which only use live streaming for promotion, the other products all use both short videos and live streaming for promotion.

Let’s take a look at the price range distribution of the TOP 1000 new Chinese-style clothing products in terms of sales.

First, the number of products is positively correlated with the price. The number of products priced between 0 and 200 yuan is far ahead, accounting for more than the total number of products in other price ranges. From this point, we can see that price advantage is also very important in Douyin e-commerce.

Secondly, in terms of sales, products priced between 0 and 200 yuan contributed the highest sales, followed by products priced between 300 and 500 yuan; products priced above 2,000 yuan also contributed more than 10 million yuan in sales, indicating that despite the high prices, there is a certain target audience.

In general, new Chinese-style clothing merchants with mature strategies and stable sales have begun to appear on Douyin e-commerce. These merchants use a combination of live broadcasting and short videos to promote the use of short video content, thereby directing traffic to the live broadcast room and product display windows for monetization; moreover, it can be seen that almost all merchants have flagship products, and they quickly accumulate popularity by promoting single products to complete the cold start of the store.

However, from the current perspective, there is no absolute leading brand in the new Chinese track of Douyin e-commerce, and there are still many merchants and influencers who continue to make efforts.

In addition to new Chinese clothing brands, there are also many influencers who use the supply chain advantage to promote new Chinese clothing such as horse-faced skirts. The competition in this field may become even more intense.

Will the "new Chinese style" craze fade or rise? Will businesses maintain rapid growth? It remains to be seen.

Author: Changmei WeChat public account: Xinbochang