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In the long run, helping farmers is indeed a long-term undertaking and is also conducive to urban and rural development, but at present, it is mixed with more Yu Minhong's personal feelings, not that this is a bad thing, but for an enterprise, the responsibility to be borne is too heavy.
Author 丨Kinki
Edit 丨 nuts
Cover source 丨 Figureworm Creative
After the "double reduction" of the education and training industry, New Oriental announced the complete closure of the K12 online education business and began to explore the road of transformation in various industries, and the live broadcast industry is one of the most controversial directions.
Some netizens think that Yu Minhong should not think of making quick money, and some netizens expect Yu Minhong to become the second "Luo Yonghao", last December, the New Oriental agricultural live broadcast business officially opened, it has been two months, how about the "live broadcast business" of New Oriental?
1
Live Streaming Novice "Oriental Selection"
In December last year, New Oriental announced the establishment of "Oriental Selection", officially joined the live broadcast with goods, according to the new jitter data, as of February 20, "Oriental Selection" has been live broadcast more than 30 times, the cumulative number of viewers has exceeded 4 million, and the cumulative live broadcast sales are close to 5.5 million yuan.
During the period, the total number of listings was 367, with an average sales volume of 3,675 pieces and an average sales volume of 183,200 per game, and a total of 12,100 items were sold in the highest sales volume, accumulating nearly 270,000 fans so far.
The types of goods are also as Yu Minhong said, mainly to help agricultural products. The unit price of the commodity is mainly concentrated in less than 50 yuan, with sales of 25,000 pieces, in addition, the sales volume of single products in the range of 50-100 yuan is more than 4,000 pieces; the sales volume of single products in the range of 100-300 yuan is more than 2,100 pieces; and the sales volume of single products with a unit price of more than 300 yuan is only about 160 pieces.
Judging from the above results, "Oriental Selection" does not seem to have handed over too bright a report card. Yu Minhong's first live broadcast on Douyin only received sales of 4.81 million yuan on the same day, while Luo Yonghao, who was also a cross-border live broadcast, had sales of 190 million yuan and more than 11 million viewers.
The data difference between Yu Minhong and Luo Yonghao's live broadcast, we seem to be unable to explain it simply in terms of "charm value", then, whether it is Yu Minhong or the "Oriental Selection" behind it, why has it failed to make live broadcast results beyond expectations?
First of all, the "Oriental Selection" was positioned too high at the beginning, taking Yu Minhong's debut as an example, from the appearance of the first commodity Fuping apple, there were constantly viewers in the live broadcast room saying that it was "too expensive", the price of 15 Fuping apples was as high as 128 yuan, for the e-commerce live broadcast room that always showed people at "low price", I am afraid that Li Jiaqi is also difficult to sell.
However, "Oriental Selection" also quickly realized this problem, began to adjust the product to take the "cost-effective route", from the above live broadcast room product unit price and sales ratio, less than 50 yuan of products or most of the products, which is why the "Oriental Selection" live broadcast room at the beginning of the fan growth rate is slower, in the Spring Festival after the beginning of the reason for the climb.
On the other hand, it is related to the genes of Yu Minhong and New Oriental itself. Many fans in the live broadcast room said that watching Yu Minhong's live broadcast is more like watching the teacher's class, and when he broadcasts the goods live, he will also carry the popularization of various geographical knowledge, and most netizens still praise it.
However, in the current live broadcast room full of all kinds of yelling, sexy, hi-buy, can "clear streams" like Yu Minhong really attract the attention of consumers for a long time?
2
Yu Minhong could not become Luo Yonghao
In addition, many netizens will also compare Yu Minhong and Luo Yonghao. Also frustrated in the original career, and then chose to devote to the live broadcast career, but netizens believe that "not everyone is Luo Yonghao" and "selling books may be more suitable for Yu Minhong".
On the surface, it may be that there are differences in the expression habits and personal temperament of the two, but from the essence, it should be that the timing of the two entering the live broadcast industry is different, and the main products are different, resulting in different effects presented between live broadcasts.
Luo Yonghao began his live broadcast debut in April 2020, although the debut time of Yu Minhong is only two years, but the development of the entire live broadcasting industry has been very different, in the past two years, the number of new live broadcast-related enterprises in China has exceeded 65,000.
Not only that, the dividend period of the barbaric growth of the live broadcasting industry has also come to an end, with the normalization of live broadcasting and the standardization of supervision, the industry competition that Yu Minhong and "Oriental Selection" are currently facing has long been much more intense than Luo Yonghao.
On the other hand, compared with Yu Minhong's "Oriental Selection" focusing on helping agricultural products, Luo Yonghao's "Make a Friend" selection is much richer, covering daily necessities, beauty, video, technology products, etc. From the perspective of the scope and frequency of use, it is higher than the "Oriental Selection", and it is not surprising that the GMV is higher.
In addition, the agricultural products themselves also belong to the category of more difficult to carry goods, one, its requirements for quality control are very high, and it involves food safety, which is a single product that is easier to step on the thunder in the live broadcast room; second, the added value of agricultural products is low, the profit is also low, and it is often a thankless thing for the live broadcast room; finally, China's land is vast, and it is not easy to pick out the fine products.
In the long run, supporting farmers and helping farmers is indeed a long-term undertaking and is also conducive to urban and rural development, but at the moment, it is mixed with more Yu Minhong's personal feelings, not that this is a bad thing, but for an enterprise, the responsibility to bear is too heavy.
From this point of view, at this moment to join the live broadcast industry with "helping farmers", it is not as netizens said to make quick money, more like Yu Minhong chose a thorny road for himself, and then opened up a new battlefield for New Oriental.
3
Other options for New Oriental
So far, "Oriental Selection" has only been live for two months, and it is still too early to make a conclusion.
At present, perhaps the live broadcast results of "Oriental Selection" are not up to expectations, but at least for New Oriental, with the continuous appearance of the live broadcast room, the exposure of the brand can be "not reduced but also increased", and for New Oriental, the transformation has never been more than one option for live broadcasting.
Recently, some media learned from Tianyancha that New Oriental is quietly laying out the chip around. A company named Taiyuan Layout Future Technology Co., Ltd. was established a few days ago, and its controlling party is New Oriental Education Technology Co., Ltd., whose business scope includes: information system integration services, industrial Internet data services, Internet data services, and 5G communication technology services.
In addition, in the past three months, New Oriental has also invested in the establishment of a number of new companies, including Oriental Selection (Beijing) Technology Co., Ltd., Beijing Excellent Programming Network Technology Co., Ltd., Beijing New Far East Human Resources Service Co., Ltd., etc., involving professional intermediaries, food management, education hardware, human resources, sports industry, software development, intelligent robot research and development and other fields.
Obviously, New Oriental's recent exploration in different business categories is of strong significance, and for the "transformation", live broadcasting is definitely not the only bottom card of New Oriental.
Moreover, although New Oriental is actively trying different new businesses, it has not given up its original education business base. In February, New Oriental signed a strategic cooperation agreement with the China Overseas Chinese Talent Development Foundation to jointly promote inter-university resource sharing and the construction of international universities.
In the future, New Oriental said that it will further launch a variety of international education projects such as international training for teacher teams and training for small language courses, which shows that New Oriental will continue to strengthen the layout of the moat in the field of studying abroad.
After the "double reduction", major online education groups are seeking transformation, both New Oriental is moving towards the live broadcast industry; there are also ape counseling to enter the clothing industry and sell down jackets; and Ruisi Education is expected to enter the field of electric vehicles through mergers and acquisitions.
Exploring different transformation directions is the responsibility of the major education giants at the moment, and until the complete transformation is successful, it is difficult to say which business is the best antidote for them. The industry is floating and sinking, look at New Oriental's insistence on education business, perhaps, teaching is the original intention of New Oriental!
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