英文_Re-Hub-DLG_指南针指数2025年第二季度_弥合营销与电子商务绩效之间的差距_34页_2mb

The COMPASS Index Summary - Q2 2025

Core Content Overview

The COMPASS Index is a performance benchmarking tool designed to bridge the gap between marketing and eCommerce performance for luxury and premium brands in China. It provides integrated insights across multiple digital platforms, including Weibo, WeChat, RedNote, and Douyin, to measure brand visibility and its conversion into revenue. The index is powered by Re-Hub and DLG, and it offers three components: Marketing, eCommerce, and Combined. Brands are encouraged to act decisively as the market shows signs of stabilization, and the competition is intensifying.

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Main Points and Key Insights

1. Marketing Impact

• Marketing performance is measured through Brand Generated Content (BGC) and User Generated Content (UGC).
• Brands must focus on integrated measurement and smart execution to convert marketing engagement into revenue.
• Top 50 Fashion & Leather Goods Brands:
  • Louis Vuitton and Dior maintain strong positions.
  • Prada, Gucci, and Burberry show mixed performance with some decline and others showing growth.
  • Risers include Zegna, MCM, and VALENTINO, while Fallers include Moschino, Tory Burch, and GIVENCHY.
• Key Performance Drivers:
  • BGC Engagement and UGC Mentions are crucial indicators of brand performance.
  • COACH had a notable drop in engagement, especially on RedNote.
  • PIAGET and GRAFF saw strong engagement from ambassador announcements, with PIAGET achieving over 10 million mentions.

2. eCommerce Performance

• eCommerce is evaluated based on revenue performance, product performance, pricing strategies, and discounting.
• Ready-to-wear (RTW) continues to lead with over 10% YoY growth, while Jewelry and Accessories show signs of recovery.
• Tmall performance indicates that 64% of brands are maintaining or growing, showing a positive trend.
• Top 20 Fashion & Leather Goods Brands:
  • RALPH LAUREN and COACH are among the top performers.
  • MCM and ICICLE show growth in both marketing and eCommerce.
  • Fallers include CANADA GOOSE, MONCLER, and KARL LAGERFELD.
• Top 20 Watch & Jewelry Brands:
  • LONGINES leads in both marketing and eCommerce.
  • PIAGET, GRAFF, and Chopard show strong performance in the watch and jewelry segment.
  • Pomellato and TASAKI are notable risers in this category.

3. Combined Index (Marketing + eCommerce)

• This index combines both marketing and eCommerce performance to give a holistic view of brand success.
• Top 20 Fashion & Leather Goods Brands:
  • Gucci and COACH rank highly in both categories.
  • Louis Vuitton is the top in marketing but not present on Tmall.
• Top 20 Watch & Jewelry Brands:
  • LONGINES and BVLGARI are leading in both marketing and eCommerce.
  • PIAGET and Chopard have strong combined performance.

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Key Trends and Performance Highlights

Marketing Trends

• BGC and UGC are critical for brand visibility and engagement.
• Weibo and RedNote saw significant declines in BGC engagements, while Douyin and WeChat showed more stable performance.
• COACH and PRADA had strong UGC mentions, indicating consumer interest and brand engagement.

eCommerce Trends

• RTW leads with consistent growth, while Jewelry and Accessories show signs of recovery.
• Tmall is the key platform for revenue generation, with 60% of GRAFF’s revenue coming from the ¥50,000+ price range.
• MCM achieved 80.2% of its total revenue from top 20 best-selling products, with a significant portion from the Visetos line.

New Product Launches

• The GLOW Index measures the effectiveness of new product launches in driving revenue growth.
• Acne Studios and RALPH LAUREN show strong performance with a high percentage of new products contributing to revenue.
• COACH and ZEGNA have seen notable growth from new product releases.

Grey Market Impact

• The SPECTRUM tool helps monitor the grey market to assess pricing gaps, discounting trends, and sales cannibalization.
• TASAKI and GRAFF are highlighted as brands with strong brand power and minimal grey market impact.

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Strategic Recommendations

• Brands should integrate marketing and eCommerce strategies to ensure better performance and conversion.
• Focus on optimizing pricing and promotional strategies to maintain brand equity and maximize revenue.
• Use UGC and BGC to gauge consumer sentiment and brand health.
• Monitor new product launches closely to align with market demand and optimize assortments.
• Identify performance gaps and opportunities to prioritize high-impact areas.
• Utilize grey market insights to protect brand value and prevent cannibalization.

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Key Figures and Data

• 36% of brands on Tmall saw revenue growth of more than 10%.
• 64% of brands are maintaining or growing.
• PIAGET and GRAFF show strong engagement and revenue growth.
• COACH had a significant drop in engagement, especially on RedNote.
• MCM and ICICLE are rising stars in the fashion and leather goods category.
• Zegna and Rimowa show strong performance in the eCommerce segment.

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Conclusion

The COMPASS Index is a powerful tool for luxury brands to understand their performance in the Chinese market. With the market stabilizing and competition intensifying, brands must act decisively by integrating marketing and eCommerce strategies, leveraging UGC and BGC, and optimizing pricing and new product launches. The index highlights key performers and areas for improvement, offering actionable insights to drive growth and maintain brand equity.