The results of the seventh census have been announced recently, and the growth rate of Chinese population has slowed. According to the "Report on the Development of China's Aging Industry", between 2014 and 2050, the consumption potential of China's elderly population over 60 years old will increase from about 4 trillion yuan to about 106 trillion yuan. Demographic changes have spawned the development of the silver hair industry. 36Kr recently focused on a silver hair industry project "Wu Zero Lu Zero".
Different from traditional e-commerce, Wu Zero's e-commerce system mainly relies on the WeChat ecology. The growth of Wu Zero Land Zero relies on the core barriers of 3 modules - POPCORN Popcorn User Growth System, Enterprise WeChat Community and Service Model, and Thousands of People's Smart Retail Middle Platform. From January this year to the present, the monthly repurchase rate of first-time users has always remained above 50%. Touchpoints such as multi-dimensional communities, one-to-one, circle of friends, and mini programs have thousands of people's touch content, "accompaniment" actions, and commercial transformation activities.
Founder Zhao Xinyu said that the first purchase of middle-aged and elderly users is more difficult than that of young users, but once trust is established, it is easy to continue to repurchase.
Founded in the second half of 2020, the core target users are "dynamic silver-haired people" aged 50-69 in 1-3 tier cities. With a 3-month iteration cycle, the team has an overall operating rhythm: july-September 2020, complete the development of the underlying layer, in October-December, initially complete the selection of products and carry out conversion testing, and from January to April this year, user growth will be carried out.
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Relying on the WeChat ecology, Wu Zero Lu Zero has launched the mini programs "Wu Zero Lu Zero Health Club" and "Wu Zero Lu Zero Travel Club", with a total of more than 1,000 SKUs, and the team follows the selection logic of "5 choose 1" and has tested more than 5,000 SKUs. Its products include two kinds of goods and services, physical goods to health maintenance, nutrition and health products, service products include tourism, physical examination, etc., the future will also be extended to cultural entertainment, life services and other categories. From online to offline is the overall way of playing, offline home care will be the focus of the later extension, so the current user acquisition is divided according to the region, entertainment activity products are the key to regional expansion in the future and offline.
Zhao Xinyu told 36Kr that the anxiety of people in their 50s is concentrated in several aspects: first, value anxiety, they need to obtain a sense of value from the outside world, the second is social anxiety, female users are more anxious, the third is income anxiety, the savings of people over 50 years old are very high, and the per capita annual disposable income is more than 60,000 yuan, but with the decline in their expectations for future income growth, and the "end anxiety" that continues to increase with age, how to choose the right products and services. It is the industry pain point that needs to be solved.
From 0 to 1 start, Wu Zero Lu Zero first obtained seed users from different channels, relying on the background system to accurately profile the crowd, users are layered according to age, interests and other tags, dispersed into different communities, at present, these links have been basically automated with algorithms, 3 months 1V1 fission has reached 40 layers.
Zhao Xinyu told 36Kr that as early as 2011, he wanted to do home care projects, but now is a good time to enter the game, according to recent internal team survey data, among the 50-69-year-old people in China, more than 95% are netizens, and this part of the population is separated from the 70-year-old crowd in the crowd portrait, which is different from the public perception, their business decision-making ability is higher, and their autonomy is stronger.
Wu Zero Land Zero E-commerce Page Diagram
There is a misunderstanding in the mass market about the needs of middle-aged and elderly people, believing that the premise of their purchase of products is too much companionship and verbal preparation, so it is difficult to solve the standardization of thousands of people with algorithms. "Users with commercial value don't talk very often, we just meet their needs and provide services." Zhao Xinyu said.
Zhao Xinyu believes that before the Internet did not popularize to the silver hair industry, the silver hair industry was mixed, with the strengthening of market supervision, the industry became more and more standardized, and also gave serious business the space to cut into the track; on the other hand, the current dividend period of the enterprise WeChat, Tencent's opening in smart retail, gave the merchants the outlet for growth, and the dividend period is expected to last until the end of 2023.
The team's goal at this stage is to increase arpu value and conversion rate, and it is expected that the cost of customer acquisition in the next quarter can be equalized in the same month, achieve profitability, and start the next round of financing.
In August last year, Wu Zero Lu zero completed a 15 million yuan angel round of financing, including Yajie Fund, famous investor Yang Dong, founder of Xueda Education Jin Xin, and Chu Dachen, former senior vice president of ByteDance.
Edit | Zhang Ting