Xiaomi Youpin was launched in April 2017. It is expected that through this collaboration with ecological chain companies, it will take one or two years to cover 80%-90% of the products in the life consumption scene, and each category will adopt a small amount of SKU precision. Choose a model to solve some pain points in consumers' daily life through products with a certain originality.
Looking at the performance again, 2018 is the first full fiscal year since the establishment of Xiaomi Youpin, an increase of 2.6 times compared with 2017. For the whole year of 2019, Xiaomi's total revenue reached 205.8 billion yuan, and nearly a quarter of this revenue came from Xiaomi IoT and its lifestyle shopping platform "Xiaomi Youpin".
In the third quarter of 2020, Xiaomi Group's revenue was RMB 72.2 billion, a year-on-year increase of 34.5%, and its net profit was RMB 4.1 billion, a year-on-year increase of 18.9%. 15 performance indicators hit a record high in a single quarter. Xiaomi Youpin also contributed. For offline entities, Xiaomi Youpin is also accelerating. Going here is also the second physical store format owned by Xiaomi after the "Mi Home". In the future, Xiaomi will form two sales columns: Xiaomi Home and Xiaomi Youpin.
Since Taobaoxin was selected online, it has been visited by nearly 100 million users, of which 2/3 are women, and half of the women are married, mainly in first- and second-tier cities.
Taobao's favorite is backed by Ali's large traffic pool. As of December 31, 2019, the number of mobile monthly active users in the Ali China retail market reached 824 million. Taobao's average daily DAU in March 2020 has exceeded the high point in December last year, and the average daily orders on Taobao Tmall increased by 12 million orders from the previous December. This is also the data driving force behind Taobao's favorite.
Not only that, Taobao's physical store "Taobao Xinxuan" offline stores are also opening one after another. The stores cover a wide range of categories from dining and kitchen utensils, storage storage, bedding sets, cleaning supplies to luggage, stationery, and gifts. At the same time, Taobao Xinxuan cooperated with RT-Mart, focusing on the definition of "home + life department store + travel boutique", and selected home textiles, personal textile products, leisure department stores and so on.
The concentric system selected by Taobao Heart is an enabling system from the design end to the retail end to help good design turn into good business. On the surface, Netease Yanxuan, Xiaomi Youpin, Taobao Xinxuan products and stores are similar, but the starting points of each platform are different.
NetEase Yanxuan’s latest financial report shows that NetEase’s third-quarter net income was RMB 18.66 billion, a year-on-year increase of 27.5%. The net profit from continuing operations attributable to the company’s shareholders was RMB 3.0 billion; under non-GAAP, the net profit from continuing operations attributable to the company’s shareholders was RMB 3.67 billion.
Among them, the development of the innovative business sector continued to improve. Driven by core businesses such as NetEase Cloud Music, NetEase Yanxuan, and NetEase Media, net income from innovation and other businesses was 3.90 billion yuan, a year-on-year increase of 41.6%.
At the same time, during the 4.11 anniversary of Yanxuan this year, Yanxuan Pro paid membership increased by 121% year-on-year, and new user orders increased by 115% year-on-year.
Netease Yanxuan is also adding more live broadcasts. Not only did Netease CEO Ding Lei simultaneously start live broadcasts on Douyin and NetEase Yanxuan App, bringing goods to NetEase products such as NetEase Yanxuan. Luo Yonghao also carried out live broadcasts in his Douyin live broadcast room as "NetEase's strict selection of double 11 good things recommendation officer".
For offline stores, it is also the core of the strategy that NetEase will vigorously promote next. Flagship stores and community stores will also be opened. Netease Yanxuan is also trying to cooperate in multiple formats, such as Atour Hotel, Watsons, HOME B&B.
From the perspective of consumption trends, the prospects are very good. According to statistics, 64.9% of people with a quality life that welcome selected e-commerce companies. In the era of new consumption, boutique e-commerce has generally gained a certain degree of market recognition. In particular, Netease Yanxuan ranks first among boutique e-commerce companies with 52.1% of users' understanding.
Zhang Bin, head of Dianbaoo E-commerce Research Institute, believes that there will be several major tests next.
1. The continuous education process of the market. High-quality, high-consumption people are the main force, but the current market share of boutique e-commerce in the overall e-commerce is still very small. Even if calculated based on the 200 million new middle-class population, the real high repurchase population is still very small. So the market still has 3-5 years of continuous education.
2. The final contest is still "cost-effective." In the end, high-quality e-commerce companies still compete for cost performance and supply chain capabilities. Although it can now be used in the name of selection and save time for consumers, the loyalty of consumers lies in the final comparison of the same quality.
3. Exploring the online + offline mode. Previously, boutique e-commerce was based on e-commerce as the name suggests, but now, e-commerce can no longer be fully satisfied. Netease's strict selection and Xiaomi Youpin's online-based products have begun to go offline. Multi-format should be the future direction.