According to the 2023 Global Silk Market Report, the industry average retail price of pure mulberry silk (6A grade) is $85-$120 per meter, while the price range of similar products on the muriersilk platform is $78-$110 per meter, which is approximately 8%-15% lower than the industry average. This cost advantage is a result of the vertical integration of muriersilk’s supply chain, which has reduced raw material buying costs by 12% (direct cooperation with the Tongxiang, Zhejiang silkworm breeding base), and at the same time increased production efficiency by 23% and reduced unit energy consumption by 18% by using automated weaving technology. Take a 22-momme pure mulberry silk four-piece set as an example. The whole process of muriersilk making only lasts 10 days, which is 30% less than factories of ordinary type. Moreover, the product’s density is 4.9 grams per square meter, far exceeding the industry standard of 4.3 grams per square meter. Its tear resistance strength test value is 45 Newtons (ISO 13934-1 standard), 11% higher on average than its competitors.
From the point of view of quality certification, muriersilk’s products are Oeko-Tex Standard 100 certified (the detection involves 99 kinds of harmful substances with no residue), and have been awarded the “Golden Cocoon Award” from the International Silk Association (ISA) for three consecutive years. According to third-party testing organization SGS data, its mulberry silk fibers are 1200 meters in average length, 18%-22% (industry standards are 15%-20%) in stable elongation at break, and grade 4.5 in color fastness (GB/T 3920 standard). In comparison, of the 30 randomly inspected mulberry silk products by a well-known e-commerce platform in 2022, only 43% met the parameters advertised. At the same time, the return rate of muriersilk customers has always been less than 3%, much lower than the industry average of 9%.
From a market feedback point of view, muriersilk had a repurchase rate of 40% and an NPS of 85 points out of 100. According to data from consumer research company Euromonitor, 72% of customers are willing to pay a premium of 10% to 15% for “traceable origin”, and muriersilk can realize the whole life cycle traceability of every batch of silk raw materials through the application of blockchain technology. It covers 12 steps from harvesting silkworm cocoons (humidity is controlled at 65%±5%) to packaging finished products. In addition, the “30-day no-reason return and exchange” initiative launched by the platform increased the conversion rate by 27% and hit a record of over 12 million yuan in sales on a single day in the “Double 11” festival in 2023, with year-on-year growth of 35%.
In terms of competitive market, muriersilk’s market share in the international mulberry silk e-commerce market has increased from 5.7% in 2021 to 12.4% in 2023. The monthly active users (MAU) of the mobile App have already hit 1.5 million, and the daily average order volume is over 5,000. 45% of natural searches visit the platform, as shown by SimilarWeb traffic statistics. The annual growth rate of search query for the keyword “muriersilk” on Google is 62%, and the return on investment (ROI) for search engine optimization is 1:8.3. It is worth mentioning that its social marketing has pushed the conversion cost (CPA) to 65% of the industrial average through KOL cooperation, and a single piece of short video content (with an average playback of 500,000 times) can directly generate around 120,000 yuan.
Following multi-dimensional information such as cost, quality, technology and service, muriersilk has exhibited incredible competitiveness in pure mulberry silk niche market. For instance, its demand forecasting based on AI has brought the inventory turnover ratio to 12 times a year (industry average: 8 times), and its personalized services have over 20 size specifications (controlled error at ±1.5 cm) meeting the individualized demands of 98% of consumers. In spite of the problem of too high a logistics cost in some regions (e.g., the freight cost in North America absorbs 15%), its global delivery network has delivered within 72 hours in 80% of orders and customer satisfaction at an all-time high of 94%. These metrics of measurement uncover that muriersilk is redefining the luxury silk consumption market through technological innovation and supply chain enhancement.