I am Li Shen and Li Shimin, the free kings of the Tang Dynasty

Li Shen started his business by selling liquor and later expanded into soap and tea businesses.

Li Shen no longer had his original furniture business, and currently only does some high-end furniture business.

These three things have always been the main industrial pillars supporting the Ji Wang Mansion.

But now Wang Hongfu says it only accounts for 30% of the total income.

Li Shen always thought it should be at least 40% or 50%.

"Your Majesty, it is absolutely true."

Wang Hongfu nodded in affirmation.

"How could that be? Don't these three things account for 40% of the revenue? Could it be that sales have dropped?"

This is the only explanation that makes sense.

"Your Majesty, sales have increased by 10% compared to last year."

"Why is that?"

Li Shen frowned.

"Your Majesty, let me tell you about the main source of income for our palace at present."

As he spoke, Wang Hongfu flipped a few pages of the notebook forward.

“Your Majesty, the current income of our palace includes wine, tea, soap, cotton cloth, clothes, cotton, books, paper, and coal.

Other industries include Paradise on Earth, a medical school, a bank, an industrial park, and the recently launched camping site.

Iron, salt, and spices, though we had plenty of them, were never sold in large quantities.

Among these, our main source of income comes from the industrial park, which accounts for 30% of the palace’s income.

Liquor, tea, and soap account for 30%. Other income, including that from the medical school, only accounts for 20%.

"That's not right, this is only 80%, what about the other 20%?"

Li Shen counted on his fingers.

"Your Majesty, the remaining 20% ​​is from Tang Yi Fang."

"Tang Yifang?"

"Tang Yifang!!"

Not only Li Shen was surprised, even Wang Xuance, who knew nothing about business, was shocked.

Twenty percent of Prince Ji’s mansion’s annual income is no small sum.

"Yes, Your Majesty."

Wang Hongfu nodded in affirmation.

"How is it possible? Tang Yifang, can you make so much money by selling clothes? Are you deceiving me?"

Li Shen still didn't quite believe it, even though Wang Hongfu wouldn't lie to him.

"Your Highness, how dare I lie to you? Everything I said is true. If you don't believe me, you can ask the princess."

Wang Hongfu assured.

"Alas~~~It's not that I don't believe you, it's just that this matter is a little too unbelievable.

Can you make so much money in a year just by selling clothes?

Twenty percent, at least a hundred thousand, right?"

Li Shen sighed. Selling clothes was so profitable.

He thought that earning hundreds of thousands a year was a lot, after all, most of the clothes during this period were made to measure.

The rich and powerful either had embroiderers at home or hired someone to do the work for them, while the common people did it themselves.

"Your Majesty, Tangyifang now has nearly a hundred branches in the Tang Dynasty.

According to the prince’s plan, all of them will be opened in those wealthy states, because we have the first chamber of commerce in the Tang Dynasty.

So we know where there are the most businessmen and where there are the most wealthy businessmen.

We sell each set of clothing in limited quantities throughout the world as the prince said, and they become even more scarce after being distributed to each branch.

The cheapest price of our clothes is more than 50 guan, and most of the time the starting price is 100 guan.

Those limited edition collector's editions of 1,000 guan, 2,000 guan, and 5,000 guan are selling well because of their scarcity.

The first group was the local nobles, and the second group was the local wealthy businessmen.

Many clothes are in short supply.

According to the prince, the more people want it, the more we have to control the quantity, so as long as a new style comes out, it will be sold out quickly. "

Wang Hongfu explained the reasons to Li Shen in detail.

No matter what era, the word "face" is a very important part of the human body in China.

Some people are willing to sacrifice their own lives for the sake of face.

Just like in ancient times, the color and pattern of clothes one wore were regulated according to the official rank.

This is also a limited edition.

Li Shen certainly knew this truth, but he was still a little surprised when the product really sold well.

"Your Majesty, I never thought that a small piece of clothing could make people so crazy."

Wang Xuance sighed.

"Of course, everyone wants to save face.

Old Wang, what is the purpose of my limited edition sales? "

Li Shen took a sip of tea and tested Wang Hongfu.

"Is this... the hunger marketing strategy that the prince mentioned?"

Wang Hongfu asked tentatively.

Li Shen shook his head.

"Old Wang, today I am telling you a word: scarcity marketing."

“Scarcity marketing?”

This was the first time Wang Hongfu had heard this word, so he quickly took a pen to write it down.

“It’s actually very simple. This king’s limited edition is to keep the product out of stock on the market.

This will allow the Tangyifang brand to spread on its own.”

Li Shen explained.

"Spread it yourself? Your Majesty, how do you spread it yourself?"

Wang Xuance asked curiously.

This is the same principle as spreading news. If you want to spread news quickly, you must hire a large number of people, which the prince calls the navy.

"Of course, we let the customers spread the word themselves. After buying the clothes, they want to show their uniqueness.

I will definitely show off to others.

We limit sales, causing scarcity of goods, so that a large number of people who want to buy them cannot get enough.

At this time, there will be a sense of loss.

They will look forward to our next limited edition so that they can buy it.

Think about it, will they tell others if they miss me so much? "

Li Shen smiled proudly. This has been proven to be effective in later generations, and a lot of wine and food were bought up by people.

At that time, a certain brand of car was limited to 400 units worldwide, but when we checked, we found that there were only 1,300 units.

"So that's how it is. Your Highness is indeed very talented in business. I admire you so much.

Even if a villain thinks about it for ten years, he won’t be able to come up with such a wonderful method.”

Wang Hongfu's horses arrived at a very opportune time.

"Your Majesty is very talented. If this method is used skillfully, it can be used in many places."

Wang Xuance also followed suit and expressed admiration.

“Haha, that’s nothing, in fact, the key point of this method is to create a sense of scarcity.

Hunger marketing is not about scarcity, but about random production while ensuring that demand exceeds supply.

And scarcity doesn’t necessarily mean limited quantity. It can also mean limited people, limited time, and limited purchase quantity.”

Li Shen laughed out loud.

"I understand." Wang Hongfu quickly wrote it down in his notebook.

"Actually, this king is not doing this for the sake of making money. This king just wants me to run an old store.

A thousand-year-old store, a store that belongs to our Datang.

Only the rich or the noble can buy our products.

In the future, I will open Tang Clothing Shop all over the world, to the countries in the Western Regions, and even further.

We want to make people like them proud to wear clothes from our Tang Yifang.

Promote the name of Tangyifang.

From now on, even if Tang Yifang just took a few leaves to sell, as long as the words "Tang Yifang" were on them, the price would be thousands or even tens of thousands of strings of cash.

And there are a lot of people scrambling for it.”

Li Shen stood up, full of pride, isn't it just a luxury brand? China has them all.