A grand conference is held at Intercontinental Shenzhen Oct Hotel

August 29, a grand conference in Shenzhen Oct Intercontinental Hotel Held, Wanda Group, Baidu, Tencent announced the joint venture to establish Wanda E-commerce Company, plans to invest RMB 5 billion yuan, Wanda Group holds 70% stake, Baidu, Tencent each holding 15% per cent.

Three "China's richest man" have arrived at the signing scene: According to "Forbes" released "2013 China Rich List", Wanda Group chairman Wang to 86 billion yuan. In another rich list "Bloomberg billionaire index", Baidu chairman and chief executive officer Robin Li, Tencent board chairman and CEO Ma are the top.

After the signing of the three parties, Wang with a smile to raise his glass, first with the left of Ma touched a cup, and then turned to the right of Robin Li. Just the previous afternoon, he invited Robin Li to fly from Beijing to Shenzhen with his private jet, the Bay stream G550. The two internet giants as shareholders will inject a lot of resources into the joint venture, and, of course, they hope to get the expected rewards: Tencent will contribute to its micro-mail and mobile QQ resources, and hope they will become the most important online entry for Wanda Plaza. At the same time, Tencent also hopes that consumers in Wanda Plaza will be able to use micro-credit payments as an online payment tool. Baidu provides mobile search flow to the entrance, and hope that the Baidu map and glutinous rice Network to provide business to Wanda Plaza merchants.

However, because Tencent and Baidu are small shareholders, and there is no staff in the management, the joint venture's dominant party is clearly Wanda. Wang for the new company's future has a grand idea: "In the future O2O may be the future of E-commerce market is the largest piece of cake, and this cake is not yet cut, in such circumstances, I think the opportunity for everyone is equal." Since there is no big platform, we are willing to make efforts in this respect. ”

Speaking of doing O2O, Wanda Group does have a unique advantage: it is the world's leading real estate enterprises, China's largest cultural tourism enterprises, the world's largest cinema line operators. According to Wanda's own forecast this year to Wanda Plaza, hotels, resorts consumers will be more than 1.5 billion people, it is already the largest offline consumer platform. And conservatively estimated that by 2020, every year to Wanda consumers will be more than 5 billion people, become the world's largest offline consumer platform. It is precisely because Wanda Group has such a wealth of offline resources, only to get the urgent hope to expand offline from the online Tencent and Baidu two internet giants of the favor, and willing to become a joint venture small shareholders. It is said that the three-party specific agreement, for Wanda Group in the future of the number of users have a clear demand.

For Wanda Electric Business CEO Donze, his current most important task is to develop Wanda electric business members as soon as possible.

In the future, when consumers enter the National 107家万 Plaza, will enjoy free wifi services, the price is registered as a Wanda Electric Chamber of Commerce. Since then, he will be through the WAN Hui network, million-Hui app, and so on in time to learn about the nearby Wanda Plaza Business promotion and preferential information. When he is spending at Wanda Plaza, he can also get general points and spend on all the Wanda squares. In this year's trial run, Wanda Electric business plans to develop a membership target of 40 million, and before the end of next year to more than 100 million. Wanda Power Online, will be with Wanda Financial sector, launched a series of Internet innovation Financial services. In addition, Wanda Electric will also launch a Wanda member equity and multi-account management "card", the Unified Integration Alliance, Internet investment Business and other new platforms, new business, new services.

However, these grand ideas are easy to say and difficult to do. "My opinion is that three monks have no water to eat. "The traditional companies will think that O2O is an industry that is bigger than strength, and I am richer and more powerful than you," said Coo Mahaiping, the original Wanda electric trader who left the business in July this year. But this kind of thing does not set up in the Internet domain, knock over the Giants are small companies, not that you have more money, more people you can make this thing. ”

In fact, as early as May 2012 Wanda has formed a team and started a pilot in the field of electrical business, but the process is quite tortuous, now unspeakable success.

At that time Wanda Bright tyrants true colors, claiming to spend 2 million annual salary recruit CEO,100 million annual salary recruit senior executives. It was said that almost all the well-known executives were harassed by Wanda's headhunters, so that they did not receive Wanda phone are embarrassed to say that they are engaged in electrical business. December 2012, has served as Google Headquarters E-commerce Technology department manager, Alibaba International Trading technology senior director of the Yi Yitao as the CEO of Wanda Electric. In addition, a large number of executives from Ali, Google and other internet companies have joined Wanda Electric business.

But the executive team has a fatal weakness: most of them have not done the offline business and have little knowledge of Wanda's unique business model. After joining Wanda Electric dealer, they mentioned a lot of plans, most of them are to build a website, do mobile app, sell real goods such as pure line of thought, for Wanda huge offline resources and not much help, so also be Wang one by one veto. Until August or September 2013, the executive team still did not come up with a suitable for Wanda's electric business program, the consequences of course is also very serious: CEO Yi Yitao Although not directly announced the class, but has been stripped of all the power, with Wanda Electric quotient inside the words, is "as Shadow and air."

Since then, Wanda Electric Company for the time being by Wanda Group CIO Zhu Combat readiness in escrow. Zhu Readiness has served as a joint venture Shanghai Bell Alcatel Lucent's CIO, and in Wanda Group experience for many years, to create the domestic real estate industry's best IT systems.

Pragmatic Zhu War with a gang of people, and again to study how Wanda Electric business, they came to the first conclusion is: Wanda do the trader definitely no! It takes a lot of investment to do it, and since the cat and Jingdong have established a leading edge, it is too hard for other companies to catch up. It is also true that Suning, the largest retail company in China, is not a small investment in the business of investing, but it still cannot catch up with Beijing. Moreover, compared with Suning, Wanda used to do commercial real estate, just collect rent, do not master Wanda Plaza in the supply chain of various commodities, how can we do it?

However, Wanda Plaza has a huge flow of people-if distributed throughout the country's Wanda Plaza every year, the number of visitors 20 million, a year there are more than 2 billion traffic, absolutely can catch up with any one of the domestic medium of traffic. Moreover, these offline flow of the customer unit price, conversion rate is much higher than the online: consumers since go to Wanda Square, always want to buy something, see a movie, sing a karaoke OK.

From this perspective, Wanda Electric business is not the way out, but O2O. But O2O is no better than the good. The so-called O2O, is not the line to the line, nor the line down to the line, but the fusion between the two. Specifically, the key to O2O is to completely data the business behavior, so that user data can be online and offline free flow, so as to create an end-to-end, seamless user experience.

First of all, in the user's acquisition, offline manufacturers can no longer rely entirely on their own offline channels, but to be able to complete the online experience all the process. Today, for example, many users who go to the Wanda Studios are accustomed to using micro-mail to select movies, seats and payments, and they even want to be able to enter directly by scanning the two-dimensional code.

Secondly, when consumers are baptized by the consumer, the demand for localized living services is much higher. For example, the current consumer to the Wanda Square car is still very cumbersome, must first in Wal-Mart and other supermarkets export to the staff inspection and seal, and then in the huge parking lot to find their own cars, queuing up to pay through the export. You know, online is never so complicated.

All of these, to the ready to enter the O2O of the Wanda power provider posed a serious challenge, it must strive to achieve "two convergence":

The first fusion is the integration of data and systems. Nowadays, the user data has become the core competitive advantage of the new electric and O2O enterprises compared with the traditional retail enterprises. The reason why Jingdong can defeat Suning Gome is that it has put every consumer's consumption behavior data, and through large data analysis technology for consumers to provide product recommendations, and guide the meticulous operation of the background. and Suning Gome Limited in the past years, "two landlords" business model, and did not accumulate a real big data available.

And Wanda is the same. In the past so many years, Wanda Plaza, although the visitors are woven, but did not really accumulate their own membership and universal Integration System, not to mention the so-called big data. It is clear that Wanda hopes to accumulate its own membership as soon as possible by introducing the flow of Tencent and Baidu. In the future, it also hopes that its membership system and general integration system with Tencent and Baidu account through, to create a seamless online user experience.

The question is whether the business of Wanda Plaza is motivated to join the Wanda system. For Starbucks, Uniqlo, Zara, the international chain of Giants, the membership and integration System is their own core competitiveness, how can open to other businesses? In the past, Wanda has been trying to put its own POS machine into these "big café" shops, in order to master their sales data, but did not succeed. More feasible in the future, I am afraid, or in these "Big coffee" shop installed two sets of POS machines, consumers still use their own pos checkout, and in the points, while the chain of the brand and Wanda members of the points. With such a pattern, Wanda may be able to gradually make its own Wanda members and Wanda integral into a truly universal type.

Before that, Mahaiping had talked to some big businessmen in Wanda Square, he found that companies like Watson, who knew more about electricity dealers and had hands-on experience, were able to accept the conditions offered by Wanda, while some of the margins, such as electrical stores, said they could not afford membership and points.

The second fusion is the combination of teamwork and corporate culture. Because O2O also involves offline and online business, the team must have knowledge of the Internet talent, but also to understand the operation of the line under the talent, they also have to be very well integrated, forming a resultant force.

And this is precisely Wanda Electric Trader's present difficulty. For many employees who operate offline, they used to emphasize discipline and enforcement. For the internet, they are advocating freedom and bottom-up innovation, which makes them out of line with their offline employees. And when these two very different cultures clash, and cause the foreign staff acclimatized and Exodus, will cause the enterprise O2O strategy stagnation.

Even more to the embarrassment of Wanda Electric, it used to have no independent enterprises necessary people's authority and financial authority. However, all the directors above the Wanda Electric executives, unified by the Wanda Group Human Resources department is responsible for recruitment, Wanda Electric executives are not even qualified to recommend candidates. This also makes the past Wanda Electric business executives team from corners, like eight, simply can not form a strong combat effectiveness.

Wanda Electric Business also has no independent financial authority, large and small fees are to be approved by the Wanda Group, and the management of the budget people do not understand the business, so inevitably appear all kinds of wrangling.

Many executives at Wanda Group do not know about electricity, but they are very thin. Last December 26 million net first edition online, a group of senior executives on the earnest to warn them, must consider logistics problems, must have a strategic vision, and did not realize that do O2O do not need to build their own logistics. There is also a group of senior executives pointing to the picture below the mouse, why the mouse on the top, the picture is not enlarged? In fact, the picture is just a coupon, magnified no meaning.

"Wanda executives and Human Resources executives, who honestly do not know the electric business, they choose the electric business management team, are talking they can understand, any professional talk they do not understand, they think this person is not." "A former Wanda electric dealer's staff said deeply.

Now, after experiencing the Yi Yitao, Zhu War Two in charge of the replacement, Wanda Electric Dealer's core executive team eventually formed the CEO Donze, COO High Gorge and CTO Cao Dajun "Troika" situation. These three executives have not had much overlap in the past, in the electrical and O2O Field also has no successful experience, but also from different types of enterprises, they can form a resultant force, still need to test the facts.

Wen/Shongqing