Kill the king in Taiwan(China) accumulated 150,000 users

[Business ID]

Company Name: Bargain King Co., Ltd.

Start-up time: 2009

Venture Location: Taiwan(China)

Founder: Yang Jicheng

Business model: Bargain auction platform, the client does not bid in the form of points to refund fees, can be converted to cooperative businesses.

Financing conditions: fund-raising

Lift the auction, "the highest bidder," the rules have long been popular, and from Taiwan(China)'s website, "bargain-hunting king" is biased to a big subversion, creating a set of "the lowest bidder and the only winner" gameplay. Yang Jicheng founder told reporters on the South are low-cost everyone loves, more importantly, even if there is no loss of the winning bid, the fee will be returned as points, you can go to the merchants to exchange products. With this unique business model, Strike King has accumulated 150,000 users in Taiwan(China), it is learned is currently preparing to open up the mainland market.

Since the purchase of bargains

Yang Jicheng used to work in a gaming company and later has been a pioneer in the Internet. Yahoo's auction was very hot in Taiwan(China) in 2005, arousing his interest in researching auctions. He tried to take a small doll sold online and found that buyers are particularly fond of bargain-hunting, which gave him inspiration: Since so many people love to bargain, why not do a special bargain-hunting site? As for the rules of the game, the traditional British auction is the highest bidder, why not to new ideas, in turn who bid low who won the bid, but to add a condition, the lowest price must be the only bid to avoid double-bidding.

For example, bargain-hunting king to shoot a product, two people out of 1 yuan, four out of 2 yuan, one out of 3 yuan, three out of 4 yuan, one out of 5 yuan, the final bid of $ 3 this is the case commodity.

For consumers, are interested in bargain-hunting are high-priced products, 3C, home appliances and so popular. However, who is willing to put high-priced goods on the platform to sell it cheap? Yang Jicheng analysis, bargaining is actually a way of advertising, even if the goods sold for a penny, but for businesses have earned a quick exposure, all of a sudden find the target customers interested in their products, especially for those who want to push new products , Playing brand business. However, the premise is King of bargaining platform to do enough big enough to have such an advertising value, he said frankly that in the initial stage, the team had to pay for the first to buy goods, gathering popularity.

Bargain + Exchange = Shopping guide

Balance in the bargain-hunting king of goods, Yang Jicheng initially envisioned the business model is very simple, since Taiwan(China)'s online game habits charge, then play the bargain is no exception, so that users pay a fee for each bid on the line. The move seems plausible at first, the platform breakeven in a month, but then it faces the problem of loss of users: If you always do not win the bid, but also continue to suffer a fee, then who are still interested in continuing to play?

Thus, a year later, the king of the bargaining transformation, in the "bargain" to add a "exchange" part of the bid did not win the fee in the form of points can be returned to the cooperative merchants to buy goods. This part of the exchange business is not hard to find, give them the flow of natural pleasure, Taiwan(China)'s largest online shopping mall Yahoo Shopping, the largest telecom operator Chunghwa Telecom and the local nearly 5000 7-11 chain convenience stores are all king bargaining partners .

However, the Southern reporter learned that the use of the bargain-hunting king in Taiwan(China) is limited, each can only be offset by a certain amount of shopping money, for example, users have accumulated 100 points, the price of 50 products, but he may only Use 30 of them to deduct 30 bucks. This is equivalent to disguising users to spend more, Yang Jicheng admits the experience is not good, in the Mainland will optimize the exchange rules, 100% points used, perhaps only appropriate to charge a little fee.

In the new rules of the game, the bargain-hunting king hopes to form a closed-loop consumer, but Yang Jicheng told Southern reporters, the platform can not count on shopping guide to make money. Simple calculations, the user did not win the 100 convertibles, the platform from which probably make 1-2 commissions, but to buy an iPhone to attract bargain had to spend 5500, that is how much shopping guide to return. "In fact, really make the king of the king to make money is the user's consumption trajectory." Yang Jicheng said that there are already companies have an appointment to buy their report, but at this stage bargain-hunting king has not yet large-scale operation, precipitation enough consumer, so big data for a short time Within the platform can not become the main source of revenue.

From Taiwan(China) to the mainland

The bargain king bigger, a broader market in the mainland. In fact, Yang Jicheng planned to enter the mainland as early as in 2010, all these years in order to make the bargain-hunting king brand accumulation.

"The biggest problem with bargain auctions is the solution to people's trust, which is the most lacking in the mainland market." Therefore, Yang Jicheng intends to no longer use a real-name system on the mainland and may use cell phones to certify it. From another point of view, Reputation and credit, do not need to repeat the old name system.

At present, the Chinese version of the bargain killer has not yet been launched. Yang Jicheng revealed that the mainland version will first launch the APP, and at the same time, it will launch a large-scale operation simultaneously with the website of Taiwan(China) and rapidly expand users. Cooperation with local strong O2O merchants, with the rapid expansion of each other's resources, according to the plan will first pilot in Shanghai.

Pulse number

Comments guests:

Zhuang Shuai, senior expert of China Electronic Commerce Association

Big data profitable road difficult

This kind of bargain-hunting auction may be able to live in Taiwan(China), but it does not necessarily come to the mainland when it comes to the mainland. The mechanism of trust can not be easily ruled out. How to ensure the fairness of the auction process and how to eliminate consumers' questioning is a question. In addition, the bargain by the king who do not win the bidder's shopping guide commission, which can not earn much, and secondly, those who are interested in bargaining is to buy low-cost goods to buy cheaper, did not account for the cheap people , Although you can change points, but if always the case, there will always be opinions, so go on vicious cycle, the final negative public praise. Overall, I think the bargain-busting auction, though lively and eye-catching, does not have a clear profit-making direction at the moment. A few years ago some websites with similar models closed down and needed to be on guard.

As for the direction of big data to go, in my opinion not very satisfactory. Think about it, even have massive data of BAT did not think how to use big data profitability, let alone start-ups? With a bargain, shopping guide website, smashed how much money can be accumulated under the big data? In fact, there are not many enterprises in the country who are willing to spend money on data reporting. Some foreign-funded enterprises may buy some, but it depends on whether the data analysis provided by you is truly instructive. In short, enterprises that make data in China now live in general .

Written: Southern Reporter Liang Zhuohui