Intime Commercial Seven Years: Become a technology company that can sell goods

Estimated read time 8 min read

The picture is generated by AI

The picture is generated by AI

Intime Commercial is trying to make itself a technology company, or a department store that is completely driven by technology.

Intime Commerce and Technology started strategic cooperation with Alibaba in 2014. In 2017, Int wanton startup was launched, and Alibaba officially became the controlling shareholder of Intime Commercial.

At that time, the Internet giants played fiercely in the O2O battlefield. Ali’s strategic intention also aims to develop a new world in this typical traditional physical retail market. It has also begun a digital transformation of Yintai Department Stores.

Digitalization of price war exploration

Although the digitalization of consensus in the industry is the future, no one can pixels online and offline retail in practice.So at a time, a series of actions of the Internet giant in the retail industry are more like an adventure of investing huge funds.It is unknown whether Intime can go out of the way.”Tuition fees” are inevitable.

This is exactly the case. After a round of price war, the most exaggerated situation,Wanda Feifan and Yintai Meow Street’s monthly marketing costs are in units of 100 million yuan, Used to fight digital free battles, “Merchant digital software and hardware only need to be used, all free.”But the result is that each family also recovers quickly,Users who are truly grasped on the Internet price war are only about 10%Essence

Even so, no one wanted to stop the wheel that stopped the price war. It was rumored that Ali and Tencent’s senior management reached an agreement. Then they stopped the subsidies of Ali and Tencent.

The simplicity of the traffic play of the Internet model is obviously unreasonable on physical retail. The most fundamental reason is that it has not been caught in the core users of the mall. “As soon as the subsidy stopped, the person ran 90%“” “.

Where is the core user and what is the essence of retail?

Answer this question will return to the traditional practices and the biggest pain points of traditional retail facing the problem.The biggest problem in traditional retail is the limited life cycle of 3-5 years and 5-8 years of shopping malls. New districts must be developed.So what needs to be solved by digital retail transformation is that can the malls continue to operate for 100 years after digital reconstruction?

After thinking, Intime summarized three “no” “do”:Do not do pure e -commerce, do not do real estate, second landlord, do not do shopping mallsItemsCore membership, That is digital member.Finally, the precipitation is “a fundamental reconstruction of physical retail with digital technology.”

Meow Street APP, Digital Retail New Infrastructure

The Meow Street APP later became the position of the core member of Intime, and the Intime365 members have also become an important starting point for improving members’ repurchase and stickiness.With the position, the user can mail it home online. You can visit the counter at home, and even a APP can visit all stores and counters across the country, which has greatly improved the user experience.

But another question also appeared: how to display, display the products in the APP, and how the supply chain behind it supports and follow -up.You know, there are as many as 5 million yuan in Yintai Department Store, but only 10%are really sold well.Intime Commercial uses digitalization capabilities to display good online and offline products to the core area, “selling good products better.”

The change here is a qualitative improvement in the change brought by “selection”.It turns out that “good -selling products” may only exist in the subjective experience of shopping guides or store managers, and they can remember that 1,000 items are already the limit.However, digitalization can “remember” all the good -selling products, and artificially only need to “move” these well -sold products to online.

Intime Commercial CTO Xiong Chao still remembers,During the time when Meow Street was established, there were only less than 100 teams in the team. Everyone had to be responsible for the launch of a certain number of goods, and took a mobile phone, SLR, and the line.The first day sold 100,000 GMV, 200,000, 800,000 the next day … gradually ran to 100 million.In 2019, the transaction value of Meow Street achieved a 15%growth, which is three times the growth rate of offline, and it is an additional growth in the case of offline growth and stability.Essence

In this process, Intime Commercial has gradually established the ability to judge the price on the supply chain.By -way benefit with the merchant, “Xiong Chao said.

It was also in 2019 that Intime Commercial achieved 100%cloud.Shangyun brings the most significant changes to Intime Commercial. The Meow Street APP is not just a shopping venue, but has become a digital retail infrastructure.”There is no need to repeat the wheels. It does not require a new digital system to take over a new shopping mall. It is directly ‘long’ on Meow Street. It only needs to add a new shopping mall on Meow Street.“Xiong Chao said.

User experience and business efficiency

On the base of 100%of the cloud, the more considerable part of the digital new infrastructure is that in order to develop or acquire a new shopping mall, it only takes one month to realize the switching of the Intime business model, and to understand the portrait portrait of the original shopping mall.For traditional shopping malls, it may be necessary to spend six months to hand in and then upgrade for six months. In the end, it may be difficult to open the black box of user portraits.

In terms of personnel scale, it was originally maintained a shopping mall operation. From IT personnel to finance, operations, and customer service, at least 100-200 talents were required to operate, but after a unified base, a team of about 20 can manage a shopping mall.”It turns out that a store needs at least one finance, and now there is only 0.2 finances in a shopping mall now“The saved manpower can further optimize the business model and live broadcast on Meow Street and other creative work.

The customer experience of Meow Street APP and offline department stores is also gradually improving with the power of technology.

It is understood that starting from last year, the Counterbank Course of Yintai Department Store has deployed a large -scale “robot” and has increased the sales growth of the same store by 7%.”The judgment made by the manager was much higher than before. The accuracy rate was much higher than before. Because the robot is not capable of poor,” said Chen Xiaodong, chairman of Yintai Commercial Group.

The Meow Street APP also launched smart shopping guide and wearing recommendations. For example, the content of the trend trend of the Meirald, shopping guides or bloggers need time to consume time to produce limited dressing recommendations.AI may recommend more than 20 sets of wear in one breath, covering from men’s clothing, women’s clothing to children’s clothing to work scenes.Recently, Meow Street APP has also launched the makeup function. Users choose their favorite lipstick, open the camera, and make the makeup effect directly “on the face”. This is an important update of Meow Street in continuous exploring the user experience.

However, this is not the whole of Yintai Business. After exploring the seven -year digital reconstruction, Intime Commercial has made itself a technology company with more than 60 shopping malls and 40 million digital members and can sell goods.Yintai Commercial subsidiaries, like Smart, undertake a large part of technical work for such a huge retail system. Scene solutions cover intelligent prevention and loss, smart buying small and medium, smart car stores, etc.It is applied to Yintai Department Store, and it has been applied to the supermarkets such as Hema and RT -Mart. In the future, it is also expected to be applied to more shopping malls that need to be digital transformation.

What is the essence of retail?After exploring seven years, Intime has found the answer.”The essence is to create customer value.The most important thing is to solve two things: why do customers come, and why do customers buy?The digitalization provides you with an opportunity to reconstruct from the bottom layerEssence”Chen Xiaodong said.

Seven years ago, when Intime was determined to digitize digitization, maybe still a bit ahead.However, after a series of explorations such as the construction of new infrastructure, 100%cloud, and user experience iteration, the reconstruction of Intime is obviously a bit different.This characteristic is not only manifested in the malls of Meow Street and offline, but also in the overall culture and genes.Because for a traditional retailer, it is difficult to complete the vigorous elephant to turn around without the courage to reconstruct from the bottom.

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