After the transformation of Mushroom Street How to run the "social retail" electric business platform? Listen to CEO Chen's answer

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$200 million trillion in financing, 1 billion dollar valuation, which is the investor's pricing for the transformed Mushroom Street.

You should remember Pingwest's report on Mushroom Street--2013, Mushroom Street out of the "Shopping Guide website" positioning, on the line from the establishment of the electric platform "excellent shop", completed the transformation. The long-term parasitic on Taobao platform shopping Guide website, and finally rely on vertical, community and low price of services in the giant outside to find an independent development of the soil. Mushroom Street currently has 80 million users, mobile phone end of the month active users more than 35 million, in the recently completed D round of financing, it received from the Hopu investment, Zhi-Xin Capital and several funds of the 200 million dollar investment.

But the transformation of Mushroom Street is far from complete. Maintenance of the newly established electric business platform, not only means to continue to attract traffic, Mushroom Street began to need entirely by their own maintenance business relations, improve the business background, the control of commodity quality, smooth transition and user and business docking. Vertical shopping site to small, can do all-inclusive of the electric business platform to take into account the delicate operation and user interaction, but in the above mentioned aspects than Amoy is still a lot of tender, and this is the next stage of the real challenge Mushroom Street.

Around these issues, Mushroom Street CEO Chen received pingwest interview. He told Pingwest, for these problems after the transition, on the one hand, Mushroom Street with Shopex, E store and other professional business management software provider to solve the problem of the background of the merchant, on the other hand, it with Baidu, 360 and micro-letter platform to solve the flow and pay the problem. And for merchant qualification and screening, after-sale, commodity quality, Chen Frankly, these are "long-term work."

Chen admits that today's Mushroom street is still not profitable, but Chen doesn't seem to worry about it. "Clothing-oriented fashion consumer goods, gross margin will be far higher than 3 C, daily and other common categories," he explained, "I and investors are very optimistic about the future profitability." "In the new round of financing, Mushroom Street is valued at $1 billion trillion," he said.

So, what happened after the transformation of Mushroom Street? How to keep the flow, maintain the relationship between the merchant, build the backstage? How to make up the business short board? Pingwest to Mushroom Street after the transformation of the operation of 10 questions to see how Chen is to answer it:

Pingwest: What changes have been made to the focus on products, technologies, and operations of a self-built platform compared to a shopping guide site?

Chen: In fact, since the start of business we have been focused on the "female Fashion consumer goods retail" this area, but our product core after several upgrades, from the initial "consumer community" developed into a "social shopping guide", and at the end of last year upgraded to "social retail platform." Because the long-term focus on this area, our products, technology and operations do not require major adjustments, the appropriate adjustment of organizational structure can adapt to the new platform requirements.

Pingwest: How does Mushroom Street maintain and expand its source of traffic after the transformation? What are the same and different places before the transition? In the current place of excellent store merchants, the original Taobao sellers accounted for how much proportion?

Chen: We have always believed that the best marketing or the user's reputation, so long-term focus on women's fashion consumer goods research, especially on the understanding and development of fashion, is our continuous expansion of the most important reasons for the user scale. At the same time, like other internet companies, we have focused our resources on the mobile Internet, with most of our new users coming from the mobile internet. Taobao is currently the largest selection of merchants the best of all category trading platform, so has been settled in the store most of the merchants have Taobao experience. These experiences have successes and failures, but the number of stores that only operate a platform of gifted stores is growing steadily, and it is believed that the trend will continue as the scale of our platform continues to grow.

Pingwest: How do you shop with backstage docking? After setting up the electric business platform, what new requirements have been put forward in technology? What is the current level of completion?

Chen: Remove the perfect foundation backstage, we have launched the open API to help the merchants docking their backstage system, the most basic order management, the printing function can be easily realized. We are also with Shopex, E store and other professional business management software providers to cooperate, looking forward to the business as soon as possible to provide comprehensive and complete the basic tool environment.

Pingwest: How to judge the quality of business, and screening?

Chen: This is a long term job, it is difficult to simply make good or bad judgment to the merchant. So we first set up a complete set of rules and try to make sure that it can be done fairly and openly, then rate the performance of all businesses by a mathematically established mathematical model, and eventually upgrade or eliminate the business by this score. Of course, the main variable weight of this model is changed with the market situation, if we find that the merchant response to the buyer's consultation time is too long, we will be the first response to increase the weight of the long to identify those who can not be required to provide good service platform.

Pingwest: How to maintain the user experience after a transition? For example, after-sales problems, the source of goods and quality issues.

Chen: This is another long-term job. We first guarantee that there is enough product update degree, that is, the number of goods, this is the user experience the most superficial layer, must first. Then we will be quality, price, service and other factors according to the ease of management, improve one by one. For example, recently we focus on the delivery speed, in a period of time many of our colleagues will be involved in this matter, the Customer Manager will be directly linked to the slow delivery of the business to understand the situation, customer service will establish an early warning mechanism, algorithm engineers will be high delivery fast merchant weight ... Any small details need to be the whole company's efforts, so now the work is indeed more difficult than before, but this is the threshold, we will be very focused on this category of user experience to do through, so that the competition can not follow.

Pingwest: Micro-credit payments in the wireless and PC-side accounted for a large proportion of the transaction, you and micro-letter payment of the cooperation process?

Chen: We should be micro-letter payment of the first batch of partners, the whole process is very simple, is based on the "win" consideration, we actively encourage users to use micro-letter payment, micro-letter will be "legislation and subtraction" and other subsidies to stimulate users in the Mushroom street orders. Of course there is a premise, is the micro-letter payment itself stable and easy to use, in this year's cooperation, I am very satisfied with the micro-letter payment.

Pingwest: How much is the profit margin of the self-builders?

Chen: We are still in the market investment period, in addition to charging a certain amount of trading as a means of market regulation, the temporary has not been able to make profits. But clothing-oriented fashion consumer goods category, gross margin will be far higher than 3 C, daily and other common categories, so I and investors are very optimistic about the future profitability.

Pingwest: In addition to Tencent platform, Mushroom Street also with which platforms have cooperated?

Chen: In addition to Tencent, we and Baidu, 360 and other large flow of the platform has been very good cooperation, and we also and downstream suppliers have good cooperation, such as the previous mentioned Shopex.

Pingwest: Will you expand the category in the future?

Chen: On the contrary, we might shrink the category, and I've always thought that being more focused would be a major factor in our success. So in the future, we will not have their own clothing brand.

Pingwest: Mushroom Street should not be involved in self-built logistics, then how do you work with the logistics company?

Chen: There is no direct cooperation with logistics companies, but we are trying to work with the campus on behalf of the point of cooperation, hoping to improve the female students receiving experience (because many express can not enter the campus).

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