On April 18, Yum Software and Yum Think Tank's first "Benchmarking Visit" research activity in 2024 came to Huaxizi's Hangzhou headquarters, and the activity has been carried out for four consecutive times since its launch last year. The event brought together more than 70 entrepreneurs and business leaders from brands such as Youngor, Deli, Bull, Chaohongji, Turtle Dad, Guanzhan and other brands, and they completed the study tour practice through field visits, seminars, case tastings, roundtable dialogues, etc. The White Paper on Digital Transformation in the Beauty Industry, which was carefully developed by Yum Software and Thoughtworks, a well-known consulting company, was also released at the scene, providing new ideas for the digital transformation and upgrading of the industry.
The headquarters of the national beauty brand Huaxizi visited
Mr. Huang Fei, Chairman and CEO of Yum Software, Ms. Linda, Partner and Senior Vice President of Yum Software, Ms. Cui Yajuan, Senior Expert of Thoughtworks, Ms. Li Qinjie, Manager of Overseas Ecological Development of Huawei Cloud Global Ecology Department, Mr. Zhang Hang, Co-founder of Guanhe Consulting & Guanhe Think Tank, Mr. Liu Zhong, Vice President of Yige Group, Mr. Li Guang, CIO, Ms. Zhang Da, IT Director and other senior leaders of the company. Witness the launch of the event with executives and business leaders from major brand retail enterprises across the country.
At the beginning of the morning event, Ms. Linda, Partner and Senior Vice President of Yum Software, delivered a wonderful speech. She first welcomed entrepreneurs from all over the country to gather in Hangzhou to participate in the research activities carefully planned by Yum Software and Huaxizi. The omni-channel fulfillment project co-created by Yum Software and Huaxizi can be said to have witnessed the eventful years of the two sides working side by side, with fruitful project results and continuous cooperation. "If you want to compare West Lake to Xizi, heavy makeup is always appropriate", this event invites everyone to appreciate the oriental aesthetics of Huaxizi, and at the same time walk into the beautiful legend created by Yum and Huaxizi Digital Intelligence. This event is also an open and shared platform, and we look forward to everyone exploring the effective path of enterprise digital transformation in communication, dialogue and discussion.
Mr. Liu Zhong, Vice President of Eagle Group, expressed his warm welcome and heartfelt thanks to all the guests on behalf of Eagle Group! He said that the unstoppable wave of digital transformation is the key to enhance the competitiveness of enterprises and achieve sustainable development. In the highly competitive beauty industry, brands need to use digital tools to drive their growth. In this event, Huaxizi is willing to share its experience and insights in digital practice and brand operation, and looks forward to discussing together, enhancing understanding, and working together to make the future development path smoother, and wishes this event a complete success.
Founded in Hangzhou in 2017, Huaxizi is a brand of Zhejiang Yige Beauty Group Co., Ltd., which uses makeup as the carrier and culture as the medium to let good products and brands go abroad and convey oriental culture and oriental beauty to the world. In the beauty industry, Huaxizi adheres to long-termism and the ultimate ingenuity, leading many fashion trends, and at the same time has achieved rich results in digital construction. At the event, Mr. Liu Zhong, Vice President of Yige Group, also shared the corporate culture of Huaxizi, and the guests visited and experienced it in the Huaxizi Cultural Exhibition Hall to further deepen the exchange.
In the ice-breaking part of the event, the guests showed their personal demeanor, accelerated their understanding of each other, and conveyed their expectations for this event through the joyful game of "I will guess if you come up with the question". The continuous wonderful interaction filled the scene with laughter and recognition.
Development trends and successful practices in the beauty industry
Ms. Cui Yajuan, Senior Retail Industry Expert at Thoughtworks, shared "Beauty Industry: Exploring New Trends in Changing Trends". By analyzing the market size and growth trend of the beauty industry, the changes in the beauty industry chain and the drive for innovation, she pointed out that traditional brands rely on product history and brand influence to develop strongly, while emerging brands are rapidly emerging with innovative, personalized and flexible marketing strategies to seize the segmented user market. She also further analyzed the crowd analysis and consumption trends of the beauty industry, pointing out that the deep integration of technology and digitalization has brought new opportunities, green environmental protection and sustainable development are the development trends, and the development direction and key driving factors of the future beauty market are reflected in personalized customized services, technological innovation driven, diversified consumption scenarios, cross-border cooperation and innovation. Based on the analysis of consumer market trends, she pointed out that the structure of domestic consumer groups will undergo fundamental changes in the next decade, as digital consumers become the main body, enterprises with backward digital levels will lose their original advantages, and it is the coping strategy of the consumer industry to create emotional consumption value with intelligent services.
Mr. Huang Fei, Founder of Yum Software & Yum Think Tank, shared "Makeup with Numbers, Thick Legends - Digital Transformation Trends of Brands in the Beauty Industry". He first briefly reviewed the cooperation process between Yum Software and Huaxizi to create an omni-channel fulfillment project, that is, the project cooperation follows the three ones "one heart, one thing, and fight together", and the project online switch reflects the three zeros "zero user perception, zero business interruption, and zero data loss". Specifically, he analyzed the digital innovation of retail operations in the beauty industry from the aspects of "digital global marketing", "omni-channel business operation", "smart store operation", "consumer smart operation", "product differentiation innovation" and "data-driven intelligent decision-making". Regarding the roadmap for the digital transformation and upgrading of beauty enterprises, he analyzed the commercial value of DTC digital transformation of brand enterprises, and explained in detail from the aspects of deploying omni-channel inventory to realize the digital operation of goods, laying out the digital operation of global members to achieve online and offline mutual drainage, building a management system for the integration of industry and finance, monitoring and management of digital business of enterprises, and building a digital strategy for brands to go overseas.
At the event, Yum Intelligence and Thoughtworks jointly released the White Paper on Digital Transformation in the Beauty Industry, which comprehensively analyzes the industry definition, market size, consumer changes, opportunities and challenges, and digital transformation theory and practice, and clarifies ideas for the digital transformation of brand enterprises.
Ms. Li Qinjie, Global Ecosystem Development Manager of HUAWEI CLOUD, shared "HUAWEI CLOUD Helps Chinese Enterprises Go Global". As the world's leading provider of ICT infrastructure and smart devices, Huawei has accumulated rich global experience. Based on an analysis of the economic situation and overseas markets in Asia Pacific, Latin America, Africa, Europe, and the Middle East, she pointed out that going global is the second growth curve of enterprise business. She also listed the benchmark cases of HUAWEI CLOUD helping Chinese enterprises go global.
Bonnie, a senior consulting expert at Yum Software, shared "Enterprise Middle Platform Helps Retail Brand Enterprises Digital Innovation". With more than 20 years of experience in the retail industry, the company has three platforms: business middle platform, data middle platform, and technology platform, connecting products and services such as integration and application construction, accelerating digital transformation and upgrading, which can not only meet the business development needs of brand retail enterprises in the next 5-10 years, but also support retail enterprises and their service ecological partners to share and co-create and achieve a win-win situation. From the perspective of digital transformation, what brand enterprises or retail enterprises should ultimately do is business innovation, open source and reduce expenditure, reduce costs and increase efficiency. She focused on the analysis of three aspects of improvement: goods (supply and demand, management of one inventory - global goods), end (distribution TOB, retail TOC), and finance (industry and financial management improvement), and combined with e-commerce scenarios and omni-channel scenarios, respectively, from the perspective of inventory sharing and supply demand improvement, inventory business value realization, and the brand's new retail store omni-channel scenario capacity improvement and other aspects of specific analysis.
Ms. Zhang Da, IT Director of Eagle Group, shared "Huaxizi Digital Transformation Practice". She analyzed Huaxizi's digital transformation practice in recent years, and pointed out that Huaxizi's digital project is closely focused on the value goals of improving customer experience, management efficiency, and decision-making efficiency. At the same time, combined with the characteristics and business development needs of Huaxizi's native Internet brand, he shared the rich practical experience and digital project management methodology in the process of enterprise digital transformation, and looked forward to the future digital transformation and upgrading plan of the enterprise.
Yum Software Delivery Manager Aoki shared his delivery experience based on the practice of Huaxizi Middle Platform project. He reviewed the goal of the omni-channel fulfillment project between Yum Software and Huaxizi, that is, based on the E3+ enterprise middle platform, focusing on omni-channel order fulfillment efficiency, highly flexible promotion strategy, multi-level flexible supply system, and complete automated finance and settlement. With the joint efforts of both parties, after several months of hard work, the project has achieved rich results in the automatic order processing link, global promotion support, omni-channel fulfillment system and business and financial connectivity, system monitoring and early warning to ensure the smooth operation of the business, etc., providing strong support for the business development of Huaxizi.
Discussion on the difficulties and opportunities of enterprise digital transformation
The final session was a wonderful roundtable discussion on "Difficulties and Opportunities of Digital Transformation in the Beauty Industry". The session was moderated by Mr. Zhang Hang, Co-founder of Guanhe Consulting & Guanhe Think Tank, and four guests participated in the dialogue: Mr. Liu Zhong, Vice President of Huaxizi, Ms. Yu Xiaochun, Vice President of Tianyuan Pet, Ms. Cui Yajuan, Senior Expert of Thoughtworks Retail Industry, and Ms. Linda, Partner and Senior Vice President of Yum Software. Through dialogues, exchanges and on-site interactions, the participants sorted out the current situation and development trend of digital transformation in the industry, and shared many insights that are beneficial to the development of practice based on research observations and best practices.
Based on the rich topics of the roundtable discussion, the guests in the audience raised a series of professional questions, such as how does Huaxizi User Insight Center use informatization as an iterative product to do data support, what is the specific application of digital construction in product life cycle management, and how to do omni-channel inventory management under multiple business formats?...... Several sharing guests on the stage communicated and interacted with everyone.
So far, the benchmarking visit has been successfully concluded with the enthusiastic participation of all guests, and the discussion on the digital transformation practices of the beauty industry and more retail sub-sectors will continue. I look forward to meeting you again with Yum Software and Yum Think Tank for the next stop of the "Benchmarking Visit" activity, see you there~~