Starting from a fitness app with social attributes, Keep has accumulated more than 200 million registered users in 5 years, with a valuation of more than 1 billion US dollars, and has entered the “unicorn company” camp. From focusing on the establishment of content and brand barriers to expanding into the consumption scene of eating and wearing, Keep is currently leading the track. In the development of Keep products, we can see the two lifestyle changes of consumption upgrade and healthy consumption to people’s consumption patterns at the same time. Nowadays, people’s need for health is no longer just for running, but a complete set of sports solutions from wanting to moving. Not only are they accustomed to self-study courses and member intelligent training programs, but they also need offline family sports scenes. Consumer products such as smart hardware, sports equipment and light food will be further matched. After grasping these needs, Keep began to expand to fully serve the user’s sports process, and then became a “new” form of sports brand.
Y: The network environment and consumption richness and convenience are gradually liberalized. What kind of brand will always lead in favorability regardless of changes in the environment?
L: I think brands with technology-driven products can usually take the lead, such as mobile phones. The turnaround between brands is all about technology. When you have a strong grasp of technology, you can easily get the pulse. What kind of company is easily replaced by a new brand? I think it is a brand that drives products by user demand, such as a food company. The creativity of the food itself is not too great. When people’s awareness of sports and health increases and they begin to pursue 0 calories, sugar-free, and fat-free, there will be a forest of vitality. Emergence, when user demand is greater than product demand, new brands will emerge, most of the cutting-edge brands are on this line.
Y: What type of Keep is?
L: Driven by user needs, so on the track of sports, I think the grasp of user needs is particularly critical, which is equivalent to your core competitiveness. Nike’s previous announcement that it wants to transform to DTC (Direct Consumers) channels also saw this.
Y: What brands are worth learning?
L: There are two companies I often mention internally, Xiaomi and Uniqlo. Xiaomi has become a standard product of 3C products, users will not spend more time choosing, just feel the scene it gives me. Uniqlo’s perception to consumers is “I trust it”, and it conveys to me a most intuitive consumer concept—just like my wardrobe, it takes into account the needs of each user in product polishing, and from an overall perspective, this The transfer of users’ minds is consistent. For us, it is hoped that these two can be combined. Today, the sports industry is fighting a brand war. When no one cares about the details, it is our opportunity. We start from the product, do something for users like Xiaomi, and guarantee its reasonable price, and continue to pass on the brand to users. Information about high quality and good price.
Y: How do you evaluate the growth of new domestic products in the past 5 years? What factors contributed to this happening in the right time, place, and people?
L: There are many companies with insight. All new domestic products are not born in an unheard of field, but these brands use keen insight to find their own direction and find a new entry point. If you give a few examples:
First, we look at traditional sports brands. The biggest recognition of them lies in brand differences, but in fact, the homogeneity of products is very serious. So we cut from the product. The first treadmill made of a physical product is defined as a treadmill made into a home appliance, which means that it is a long-standing thing at home and finds an opportunity to cut into the track from its appearance.
Second, traditional sports brands have been doing sports scene expansion, and we focus on indoor fitness, which has limitations on the boundary, so we started to expand consumption scenes. Eating and wearing exercises are the needs of user consumption scenarios, and it is also a very good business model. The gross profit of electronic products is very low, and a healthier business model is needed to help it move forward. Eating and wearing happen to be fast-moving consumer goods. The purchase rate is high. Third, the consumption concept has changed. Consumers will buy the best things with the most expensive money, buy better things with the same money, and buy the same things with less money. Among these three consumption upgrades, Keep seized the opportunity to “buy better things with the same money” because users in the sports field have their own clear budget.
In addition, the marketing link has also undergone some changes. Traditional companies will do a lot of brand placement and do a good job in channel building, so that consumers will think of me as long as they have demand. But now that user needs are saturated and need external stimuli, marketing links will be more integrated in daily life, such as Inadvertently obtained from channels such as Douyin, Moments, etc. Some people continue to try new things. These people have a reputation. The good reputation will stay, and the bad ones will die. The change in the media structure is also the birth of the “new domestic product” and the popularity A big environment.
Y: After the “new domestic products” hot search and explosive styles are known to people, from a longer-term perspective, what other aspects and problems of the new domestic products will take longer and more effort to solve?
L: The environment is a common bonus for everyone. We can seize the opportunity now that does not mean the next stage. We have been thinking about this for a long time, and our product planning has also been divided into three stages. The first stage is the era of high-quality goods, using the SPU (standard product unit) that 30% of the users buy most to buy better things with the same money. The second stage is to explode the products, polish the products into mental products, and some categories must get the first place in the market share, such as this year’s yoga mats and konjac powder. After seeing the needs of users, we will mobilize all resources to make them. The third stage is to form a solution. Keep positions itself as a sports technology brand and hopes to provide product solutions. The evolution process is from a single course to a set of training plans, to food and clothing, and various solutions to satisfy users. This requires constantly thinking about what users’ new needs are. This year I think it’s a live broadcast. There are three upgrades from courses, plans to live broadcasts. The outside world feels that Keep does everything, but we see it very clearly internally. Of course, we have experienced a very difficult process of selection, from boutique, explosive products to solutions, and finally occupy the minds of users. This is the future I look forward to most.
Y: What needs have been falsified today? What are the trade-offs?
L: For example, when we first started food, we chose a category like salad, which is definitely better than packaged food in terms of the ultimate in health, but after entering this field, we found that its traffic is more on the takeaway platform. In this case, there is no problem with the product design itself, but the operation and infrastructure behind it are completely different from ours. The product was found to be wrong as soon as it went online, so it quickly adjusted to packaged food. When making packaged foods, I found that the highest-selling milkshakes, chicken breasts, protein bars, and whole-wheat breads were homogenous, and even the suppliers were similar, so there was no way to differentiate between brands. We realized that low-calorie and delicious food are user pain points, and we chose to work hard on the Chinese food track. Last year, WonderLab also grew rapidly. It was also based on the understanding of this pain point. It co-branded with HiTea to achieve the ultimate taste, and then achieved the ultimate efficiency through a large number of launches. This is based on the brand’s insight into user psychology and demand insight. Opportunity.
Y: In recent years, what vocabulary related to the concept of consumption has impressed you?
L: “User portrait” has a new way of defining. The previous user portraits are partial attributes. Now the user portraits obtained by various platforms are more personalized and more detailed. For example, “Outside the Fifth Ring Road” does not necessarily mean that they actually live outside the Fifth Ring Road. Instead, they say that this group of people pays attention to cost-effectiveness and likes to compare with each other; the feature of “Chinese Aunt” is that the picture is cheap, and this impression comes out at a glance. We also have user portraits of sports people, such as “Salted Fish Seeking Belt”. With the new understanding of users by emerging consumer brands, various user portraits will be generated, which I find quite interesting.