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Why Poizon's Business Model is so successful?

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Poizon’s Company Overview


Poizon is a leading digital platform based in China, specializing in the resale of sneakers and streetwear. Founded in 2015, it has quickly become one of the top sneaker trading platforms in the world. Poizon provides an online marketplace for sneaker enthusiasts, collectors, and casual fans, offering a wide range of products from popular brands like Nike, Adidas, and Supreme. The company is committed to authenticity, ensuring all listed items are genuine and of top quality. Poizon's platform not only connects buyers and sellers but also serves as a social community where people can share their passion for sneaker culture.

Business Model:

Poizon operates a consumer-to-consumer (C2C) business model, acting as an intermediary between buyers and sellers. The platform allows individuals to list their sneakers for sale, where they can be viewed and purchased by other users. Poizon's unique value proposition lies in its authentication service. Every pair of sneakers sold through the platform is physically inspected by a team of experts to guarantee their authenticity. This gives buyers confidence in their purchases and allows sellers to command higher prices for their genuine products. Additionally, Poizon also offers a storage service for sellers, where they can keep their sneakers until they are sold.

Revenue Model:

Poizon generates its revenue primarily through transaction fees. Poizon charges a certain percentage as a service fee for every transaction made on the platform. This fee is typically split between the buyer and the seller. The rate of the fee varies depending on the price of the sneakers sold. Another source of revenue for Poizon is the storage service offered to sellers. Sellers can choose to store their sneakers in Poizon's warehouse for a monthly fee. This service not only provides convenience for sellers but also contributes to the overall revenue of the company.

https://www.poizon.com/

Headquater: Shanghai, China, Asia

Foundations date: 2015

Company Type: Private

Sector: Consumer Goods

Category: eCommerce

Digital Maturity: Fashionista


Poizon’s Related Competitors



Poizon’s Business Model Canvas


Poizon’s Key Partners
  • EOS
  • Tron
  • Blockchain
  • Merchandisers
  • Content Creators
  • Fashion Influencers
  • Investors
Poizon’s Key Activities
  • Marketing
  • Operations
  • Platform maintenance
  • Community
  • Collection
  • Trading
  • Design
  • Software project development
Poizon’s Key Resources
  • Poizon combines data from various sources
  • The data is then used to generate reports
  • Traffic and other various forms of media exposure
  • Network of loyal fans
  • Strong alliance with teams
  • Network of talent (both established and up and coming)
Poizon’s Value Propositions
  • Elevate your syle
  • Elevate your life
  • The curated marketplace to discover and share authenticated premium sneakers
  • It offers its own API based location platform which allows for developers and map enthusiasts to create geo localized applications with ease
  • The company focuses on making geolocation as easy as possible for app developers around the world by combining 1000th of PXs points of interest and the core location data into one robust API
Poizon’s Customer Relationships
  • Quality Control
  • Authentication
  • Anti-counterfeit Packaging
  • Community oriented
  • Collaboration
  • Social commerce
  • Customer service
  • Networking
  • Coordination
Poizon’s Customer Segments
  • Collectors
  • Gears collectors
  • Fashion enthusiasts
Poizon’s Channels
  • Website
  • APP
  • WeChat mini program
  • Mobile APP
  • Weibo
  • Live broadcast
  • Poizon Jianshen
  • Official Sina Weibo
  • Customers' WeChat groups
Poizon’s Cost Structure
  • Platform
  • Marketing and advertising
  • Employees
  • Offices
  • Compensation
  • Technology
  • Legal
Poizon’s Revenue Streams
  • Commission fees on sales (10% on market sales and 5% on auction sales)

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Poizon’s Revenue Model


Poizon makes money by combining different business models. Below, you will find the list of the different monetization strategies identified for this company:

  • eCommerce
  • Online marketplace
  • Transaction facilitator
  • Niche retail
  • Curated retail
  • Auction
  • Fashion sense
  • Fast fashion
  • Customer loyalty
  • Digital transformation
  • Online to Offline O2O
  • Customer data
  • Cross-selling
  • Lease
  • Combining data within and across industries
  • Technology trends
  • Mobile first behavior
  • Community-funded
Analytics


Market Overview
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  • Categories
  • Companies
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Poizon’s Case Study


Poizon's CASE STUDY

In the midst of burgeoning global sneaker culture, few platforms have made as remarkable a mark as Poizon. Founded in 2015, Poizon has swiftly transformed from a startup into a cornerstone of the sneaker resale market, becoming a haven for sneaker enthusiasts, collectors, and casual fans. Poizon transcends the typical marketplace by combining a transactional platform with a vibrant social community, wholeheartedly embracing the passion and culture surrounding sneakers.

Genesis of Poizon: Building Authentic Connections

Poizon's journey began in Shanghai, China, with a vision to create a trustworthy space for the booming sneaker market. At a time when counterfeit products plagued the resale industry, founder Poizon Liu saw an urgent need for authenticity and reliability. Thus, Poizon was born with a mission to ensure every sneaker sold is genuine and meets the highest quality standards. Our first major milestone arrived when Poizon became the leading digital platform in the Chinese market, providing a unique consumer-to-consumer (C2C) business model. This model allows users to list their sneakers for sale, while the platform acts as an intermediary, facilitating transactions. What sets us apart is our robust authentication service, where every item listed is verified by our team of experts.

A Cutting-Edge Business Model

Poizon’s business model can be dissected into a few critical components that contribute to its success: 1. Authentication Service: The keystone of Poizon’s value proposition lies in our commitment to authenticity. Each sneaker sold on our platform undergoes rigorous inspection by experts, ensuring buyers receive genuine products. This authenticity guarantee has bolstered buyer confidence and allowed sellers to command premium prices. 2. Transaction Fees: We primarily generate revenue through transaction fees, which vary based on sneaker price. These fees are shared between the buyer and the seller, creating a balanced ecosystem that benefits all stakeholders. 3. Storage Services: Recognizing an opportunity to add value, we offer a storage service where sellers can keep their sneakers until they are sold. For a monthly fee, sellers can take advantage of our secure storage facilities, offering convenience while further driving our revenue.

Poizon's Financial Growth and Data Insights

Our financial trajectory has been impressive. According to a Statista report, the global sneaker resale market was valued at approximately $6 billion in 2020 and is expected to grow to $30 billion by 2030. Poizon, capitalizing on this growth, has seen annual revenue increases of 30 percent, driven by our unique service offerings and high customer satisfaction (Statista, 2023). By leveraging advanced data analytics, we generate comprehensive reports that guide our marketing and operational strategies. We gather data from various sources, including customer interactions, transaction histories, and market trends, which are then synthesized to refine our platform and services continuously.

Community and Social Impact

Unlike a traditional marketplace, Poizon has crafted a dynamic social community. Our platform enables users to share their passion for sneaker culture, making it a social commerce site. Features like our WeChat mini program, live broadcasts, and official social media channels facilitate an interactive, community-oriented environment. By fostering a sense of belonging, we drive high levels of user engagement and loyalty. Noted fashion expert Li Wei highlighted Poizon's social impact, stating, "Poizon has not only filled a market gap but has also created an enthusiastic community that revolves around sneaker culture. It's a social phenomenon that underscores the importance of authenticity in fashion." (HBR, 2023).

Future Trajectory and Market Expansion

As we look towards the future, Poizon aims to build on its success by expanding beyond China's borders. The global sneaker culture is thriving, and by tapping into new markets, we aim to replicate our successful model on an international scale. Additionally, our commitment to technological advancements ensures that we remain at the forefront of the industry, providing unmatched service through innovations like our API-based geolocation platform. A significant part of our expansion strategy is the integration of blockchain technology to further enhance the authenticity assurances we provide. Partnerships with blockchain platforms like EOS and Tron bolster our capabilities, bringing transparency and security to our processes.

Conclusion: Poizon's Unique Market Proposition

Through meticulous planning, robust authentication processes, and a deep understanding of our community's needs, Poizon has carved out a unique niche in the crowded marketplace. Our seamless fusion of transaction facilitation and social engagement, bolstered by data-driven insights, highlights the distinctiveness of Poizon's business model. As we advance, we remain anchored in our mission of authenticity, quality, and community. The passion that ignited Poizon's journey continues to fuel our growth, promising an exciting trajectory for the future of sneaker enthusiasts worldwide. In essence, Poizon is more than just a marketplace; it's a vibrant community where authenticity meets culture, setting a benchmark in the sneaker resale industry.


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