Silver Thai Electric Trader: Oneself knocks over oneself, "small monster" O2O transformation

When a man appears in the Yintai department store, Hangzhou Wulin shop using mobile phone to pay the way to buy a pair of 39-yuan socks, a silver-Thai business Transformation O2O (online cooperation) of the era, because the man is Alibaba board Chairman Ma Yun.

Yintai and Alibaba in the field of electric business cooperation is quite "Yuanyuan", the same as Zhejiang merchants of China Yintai Investment Co., Ltd. (hereinafter referred to as "China Yintai") Chairman Shen and Ma Yun hit, starting last year, launched a "double 11" promotional, mobile phone payment and many other cooperation, this strategic cooperation eventually rose to the capital level Alibaba invests 5.37 billion Hong Kong dollars in Yintai business.

At the commercial level of Yintai, the entity retailing industry must change, rather than being overturned by others, the future of the retail industry combined with the development of electric and physical power will be a "small monster" with momentum. The cooperation with Alibaba let Yintai business experience to the electrical business in just one months to bring the equivalent of the entity store accumulated 16 years of membership effect. And this has strengthened the silver Thai business will o2o the road to the end of the determination.

Knock yourself over.

Shen, who abandoned the financial industry to "go overboard", has long been aware of the crisis in the physical retailing industry. About 6-7 years ago, the department store was flourishing, but the Shenguo army always felt it was not too reassuring. "We had a company meeting in Wu Town, so far we have called the" Wuzhen meeting "of great significance, when I put forward that the traditional department stores will be adjusted in the future, so must be transformed, the future can not simply do single department stores, but should do shopping malls or complex projects, so our transformation, Cooperation with the electrical business is a long-term strategy. Shen told the first financial daily reporter.

Perhaps Shen completely began to Silver Thai line O2O is from its cooperation with Jack Ma rookie network began.

Once a year there are 4 months in the travel Shen, since with Ma Yun to create rookie start, he has already counted how many open up to create a meeting. But in Shen's view, change is necessary.

Chen, who has been following Shen's commercial CEO, Will Shen the idea to the actual action.

"Any enterprise will eventually be overturned, the difference is to be overturned by others, or the ego overturned, that is, self-innovation, change and even self subversion." What we call ' self tipping ' is innovation and self-denial. Once this atmosphere is formed, everything will come naturally. If an enterprise does not innovate all the times, the key point is ' die '. Adhering to the concept of innovation, from the 90 's, the Yintai department has been in constant self-improvement state, when we from the traditional marketing to dynamic young marketing, then the first silver-Thai "electric shock" set up a silver Thai network operation so far. Chen accepted the "First financial daily" reporter in an interview revealed.

However, with the rise of the electric business and the impact on the physical retail industry, Yintai more and more feel that relying on their own site is not enough, must work with professional electrical business enterprises.

"We have inspected countless enterprises, projects found that the operation of the industry has specialized, online business we have to go beyond the good electricity business is difficult, but the entity retail industry has its own advantages, such as commodity resources and management, supply chain, so, the entity retail business and the electrical business than cooperation. But there are a lot of real business people talk about the electric business ' gnashing of teeth ', difficult to co-operate. We have the initiative of the Silver Thai O2O with the electrical business of the first step, decided to cooperate with Alibaba, because since the entity can not create a Alibaba, then why not with Alibaba win? Chen said.

To be a little monster.

In Chen's view, the future of the retail industry should be combined with department stores, entertainment, life, experience consumption, electricity quotient, logistics, such as the comprehensive industry, this "Sibuxiang" feeling similar to "monster", the retail industry will also appear other "monsters", if Yintai can maintain innovative thinking and innovation guarantee mechanism, The Yintai department must be one of the closest to the monster.

Although already is the commercial CEO of Yintai, but Chen in O2O business on the frontline. He still clearly remembers the initial cooperation with Alibaba starts with "double 11" promotion. The physical store closes at 10 o'clock, and the electric dealer is in the early morning net buys is intoxicated, especially "double 11", when 0 points is Alibaba staff most crucial work moment, a large number of staff in the midnight time energetic, the facial expression nervously brushed the computer screen.

That day, Yintai business staff in the early hours of Alibaba staff to send a late-night snack, the move was Chen jokingly as "Little Monster" for the electric dealer to send food. And Alibaba staff in the "double 11" working state also really let the Silver Thai department was stunned--massive order processing, instantaneous data explosion, logistics and so on, these are the real business is unimaginable. A "Double 11" sales may be a traditional department store turnover of one year, so that the real industry is amazing.

After that, Yintai commercial custom hundreds of sets of powder color "little monster" cartoon outfit, under Chen's leadership, Yintai business from management to employees are mostly wearing this set of "Small monster" cartoon installed in department stores, subways, squares and other collective "selling Meng", "Flash", for the public to know, the traditional retailer Yintai began to "Little Monster" posture for O2O transformation.

1 months equals 16 member accumulation

Perhaps because the initial cooperation results good, then Yintai business and Alibaba frequent cooperation, so that both "emotional sublimation" when the number of capital cooperation.

This March, Alibaba invested in Yintai business with a strategy of HK $5.37 billion. With the capital level of the bundle, Yintai business began to combine electric power business, launched the first Chinese retail business card, stored value, pay a full chain of virtual membership card-"Silver Thai Treasure", which is also yintai business and Alibaba Cross-border cooperation of innovative products.

"Silver Thai treasure is based on Alipay products, and Alibaba has this cooperation, Yintai department store shopping flow has changed significantly." The original guest to queue in cash or bank card payment, once during the holiday, light line to pay for a long time. And now using the silver-Thai treasure based on Alipay, guests can only click on the mobile phone silver Thai treasure to pay, shorten the cashier time, to avoid the peak, improve customer experience. "Yintai business insiders said.

If you stop for about 1 hours in a department store in the Yintai Hangzhou region, you can see a part of the young people have accepted the "Silver Thai Treasure" payment, these "thumb a clan" is very skilful to sweep the goods or sound wave docking after the "Silver Thai treasure" to pay, if "Silver Thai treasure" Payment account balance is not sufficient, the system will automatically be transferred by the Alipay account or binding credit card to pay the balance online.

"Silver Thai Treasure" to the business of silver Thai surprise than "Double 11" more violent.

Yintai Business data show that this year, "Silver Thai treasure" on line one months, through the mobile phone Taobao platform and pay the registered member of the wallet more than 1.7 million people, more than the Thai line under the 16-year store of the total number of members accumulated. May 31 ~6 2nd this year, in the "silver-Thai treasure" driven by consumption, nearly 30% of the consumption is done on the Yintai online, showing the huge potential of online payment. June 15, "Silver Thai Treasure" online Hundred Days, the number of users as high as 5 million, is the Silver Thai line VIP member number three times times; just three months, there are 150,000 internet buyers through various channels in yintai consumption, become a new consumer group Yintai.

"It is very surprising that the geographical range of new members is obviously expanded, we see from the background system, and even from China, Hong Kong and Macao, China, we found that the Zhejiang local guests are more to store consumption, while other regional guests are more use of silver Thai treasure for online shopping. Line under the two major channels parallel, with the silver Thai treasure to carry out a series of rebate activities, these new members into the Silver Thai loyalty conversion rate is quite high. The above Yintai business insiders told reporters. In the future, with Alibaba's O2O cooperation to obtain massive customer data, both sides can be based on large data research to obtain more consumer information, and to develop a new plan.

It is reported that for Rio Tinto O2O, Yintai will increase cooperation with Alibaba, Yintai business and Alibaba joint venture to set up a platform company, and will be the Silver Thai network resources into the platform company.

Some people doubt that in the process of O2O cooperation, perhaps the electrical business to earn more, or the real industry will appear online under the "Left hand stroke" problem. In this regard, Chen that, at present, it is too early to talk about who earns more, the benefit will be proved after a period of time, but the line under the integration of online must be correct. In the commercial view of Yintai, O2O is not a competition within the enterprise, but a "closed loop", complementary and mutually beneficial.