Shen: Silver Thai Electric dealers strive to achieve profitability next year

Shen, the low-key head of the Yintai department, rarely interviewed by the media, at the helm of the Chinese department store in 2012, a rare trough in the last decade, Yintai department store has maintained a double growth in revenues and profits. In the face of the impact of the electric business, Shen also only do not say, the electric business round of the bloody Battle of silver-Thai network is rarely seen, but Shen said next year will be able to profit.

Reporter: At present, the retail industry is undergoing a major transformation, including Suning's marketing model is divided into online and offline, how do you look at the current transformation of the retail industry?

Yintai Group Shen: All retail enterprises need to be gradually transformed. Because of the development of technology, especially the rapid development of mobile interconnection. New requirements have been put forward for the retail industry. Su Ning from the entity chain to E-commerce, I think it is a very good transformation, but to do it better in the future, or to spend a lot of energy, to do better with these electric companies to compete, such as Taobao, Cat, Jing Dong. But if you don't step out of the line, there will be a lot of pressure in the future. What we are doing is called "Internet vending Machine". The small supermarket is called "Seven-eleven", sell hundreds of kinds of goods Internet convenience store, I think this future is a major change, I feel like catering industry, also want to make changes, like I invested in a company, recommend mobile phone brands, to help you buy lunch, now Beijing has, and do very well.

Reporter: Now put forward a trend, the future development point of department stores may be in the two or three-line city, may gradually from high-end to the low-end to go, the future of this piece of the market, you will go into it?

Shen: We are now in the second-tier cities, basically in every region. But compared with Beijing and other first-line cities, there is still a difference, I think we should pay attention to public consumption, consumption patterns change also need to change the corresponding mode of operation, this is the fundamental retail industry. We are working towards that direction ourselves.

Reporter: Before you said that Yintai will be profitable next year, now in the current department store, almost few enterprises can do. What is the basis of this profit?

Shen: There are a lot of differences between us and other e-commerce companies. E-commerce Some of these companies are very big companies are doing, some loss of a lot of money, then how much future it? It's hard to say. We silver Thai network and other E-commerce companies still have a big difference, at first we have to put dozens of stores to use up, thousands of of businesses to use up tens of thousands of of goods to use up, if we can get through the data link, in fact, than spending money to buy traffic will be more valuable.

Reporter: Then you this difficulty is how big, need to invest a lot?

Shen: This is better than an enterprise long-term losses do not go down. We have been trying for more than a year now to feel very good. This year our loss is over, next year we strive to achieve the month will be profitable, in two or three years time will be profitable is a very easy thing.

Journalist: I'd also like to hear your attitude towards charity.

Shen: I think every entrepreneur should have the responsibility and obligation to do charity, I am now in China Charitable Foundation, the current rescue cash This is the world's largest, more than 15,000 people. Yintai may also be involved in the rescue of orphaned children. I think China's charity still needs a lot of entrepreneurs to participate, so that China's charity can be changed, and need to do a very market-oriented charity, close to the needs of the line. Now a charitable fund named after the company is being filed for approval.

Reporter: The future of Yintai group will be in Yunnan project landing?

Shen: Yunnan I have come many times, we may then have investment in Yunnan, now our group is responsible for the expansion of several departments have been in contact with the local government, from the beginning of this year, the Kunming municipal government has also visited US Yintai, the next step we work with Ali Company, the business may have landed in Yunnan.