Airbnb exited the Chinese market
Global homestay booking giant Airbnb officially announced its withdrawal from the Chinese market today, which is a blockbuster news in the tourism industry, the vast majority of people in China do not know and are familiar with this brand, but in the hearts of people who like outbound travel, Airbnb is the supreme magic weapon for outbound travel, especially independent travel. As of the close of the US stock market on May 23, Airbnb's market value reached $73.1 billion, while Chinese consumers are familiar with Ctrip's only $130, Airbnb's market value is nearly 6 times Ctrip's, and it is a well-deserved giant in the travel industry.
In 2016, Airbnb officially entered the Chinese market, with great confidence and expectations, into a supermarket, which is undoubtedly exciting, but also let China's fans full of expectations, but Airbnb's Road to China seems to have been very hard, there have been 2 years to change 6 responsible persons, coupled with the impact of the epidemic, nearly 6 years later, finally can not hold up, eclipsed away from China, of course, Chinese fans do not misunderstand, not the platform to withdraw from China, And only close China's homestay business, do not do domestic homestay only, and will be used normally in future outbound tourism. What exactly led to Airbnb's failure in China? The epidemic is only the last straw to crush it, even if there is no epidemic, Airbnb will withdraw from China sooner or later, the author believes that there are mainly the following reasons:
First, China's homestay consumer market is not mature
Many people may think, now that the domestic homestay is so hot, there are so many homestays, how can it be said to be immature? However, what the author is saying is that the Airbnb model of the homestay consumer market is not mature, Airbnb's core business, but also the starting model is to let the landlord to rent out idle rooms and beds, collect rent, rather than such a homestay hotel in China now, this is the essential difference, and Chinese consumers are now accustomed to the Homestay is a Chinese-style hotel homestay, for short-term rental to other people's houses, with other people's things, the vast majority of consumers are not used to it, not to mention Airbnb, It is the homestay business of Piglet, Ctrip, qunar, this kind of homestay reservation situation is not very good, because for Chinese consumers, this is a new way, but also need time to accept and understand, it is undeniable that this part of the business will have a lot of space in the future.
Second, the operation and management model is not suitable for the Chinese market
As a foreign brand, Airbnb continues to practice abroad in operation and management, which is obviously not in line with the Chinese market, mainly reflected in several points:
1. The brand name is not localized
Airbnb, Chinese brand name is: Airbnb. First of all, the English name is niche in the eyes of Chinese consumers, and cannot enter the hearts of most consumers; and the Chinese name has no characteristics and memory points, which cannot trigger the enthusiasm and resonance of consumers, and this platform still belongs to that small group of consumers.
2. There are very few advertisements
Since Airbnb entered the Chinese market, in fact, it is rare to see their advertising, whether online or offline, which has caused the brand communication power is not enough, and consumers have almost no awareness of the brand.
3. Insufficient channel construction
Airbnb does not have a strong channel team in line with the Chinese market, whether it is channel team building, online and offline channel development, channel services, etc. can not be compared with the local platform, perhaps many foreign brands are not used to doing it!
Third, the marketing model is ahead of its time, and the Chinese market has not yet adapted
Chinese tourism, hotels and other businesses and models for European and American countries, still stay in the previous price stage, and Chinese marketing is short and fast, but now the global tourism hotel marketing concept has passed this stage, has been emphasized in the integration of resources marketing, consumer experience first. Foreign platforms now almost do not subsidize consumers to directly promote the way to consume, they are more about integrating resources, creating concepts, cultivating consumer consumption habits, this set of models will also be popular in the domestic travel brands in the future in the near future, now there is such a momentum, and it will become the mainstream in the future, but under the epidemic, most domestic consumers are more concerned about price.
Fourth, the inner volume is serious, and the foreign brand is not adaptable
As a foreign brand, Airbnb has a very big flaw is that it does not know enough about the local market, local competitors and consumers, which has no advantage with local enterprises, because China is not a country and thinking in the English-speaking world, and China has its own market characteristics, culture and thinking concepts. In fact, whether it is Airbnb or Booking, the model of foreign platforms is actually very simple, that is, to provide reservations, extract commissions, platform marketing activities are discounts, some owners and hosts provide value-added services for platform customers, both to provide consumers with better service and experience, but also for the host, hotel and owner side with reasonable profits, nothing more, there are not so many routines, the price is more expensive than the local platform.
And the local platform, all kinds of dazzling routines, crazy subsidies, squeezing the price of suppliers, completely disregarding the consumer experience and suppliers' profits, they just have to draw commissions, but most consumers at present eat this set.
5. Summary
The author believes that Although Airbnb's temporary withdrawal from the Chinese market is a helpless move, it is also a wise move, because China's market still needs time to cultivate, consumers' consumption habits and thinking need to be exercised, and they need to encounter many pits to improve and grow. The model of foreign brands is that Chinese brands and enterprises will face and use the situation, because we are walking the road that others have already traveled, I believe that in the near future, Airbnb will definitely make a comeback, at that time the market will be more mature, look forward to seeing you again!