McCarthalen: The new track of consumption in the digital age | the scene of the 6th Chaochuang Conference

Digital reconstruction of the future - new trends new models new industries, on November 8, the 6th Chaochuang Conference and the 2020 Global Chaoren Artificial Intelligence Conference was held in Shantou, nearly 300 Internet entrepreneurs, business leaders, outstanding enterprise representatives, young and up-and-coming from all over the world attended the conference to talk about the present and future of the digital economy.

Global Shopping Knight Privilege co-founder Jialun McGallen shared the keynote speech of "New Track of Consumption in the Digital Age", summarizing the trend of Chinese consumers and the way to win the brand in the digital age, and he proposed to sink channels, product innovation, products and services that meet user needs and have certain value advantages in order to precipitate deeper value.

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Below is an overview of the presentation

In fact, this year, everyone said that it is very difficult, very difficult, because during the epidemic period, there are many offline entities, including movies, physical stores, tourism, etc. are very difficult, but in fact, I think that enterprises should continue to repair the roof on sunny days, think about how enterprises can resist risks, how to embrace new technologies, how to enter this data age? Therefore, we can see that cloud office, online education, new retail, game live broadcasting, long video, etc. have ushered in huge opportunities. Various online platforms not only do their own business, but also become a focus of the survival of physical merchants. Just like offline catering, if there is no takeaway, what will they do today? Therefore, we want to know how to improve the resilience of enterprises, improve the ability to fight fragility and risk resistance.

In the digital age, the development of the Internet is a process of continuous infrastructure upgrading. In the past, in the era of traditional retail, everyone bought department stores offline, and with the advent of the Internet era, everyone's shopping gradually focused on the PC side, and then later on the mobile end, and the exposure channels of goods also changed. On the mobile side, we have entered a new era of short videos and even live broadcasts from the era of watching pictures and texts. Every change in technology is accompanied by new opportunities.

When the content form changes, how to empower e-commerce through multi-channel networks?

When the pattern of Internet oligarchs is relatively solidified, the e-commerce platforms used by most people, mainly Taobao, Tmall, Jingdong, Pinduoduo, Vipshop, Suning Tesco, etc., you can see that their growth is very slow, to seek a new growth opportunity, so they have launched a membership system, but in my opinion it is called a new pot of old wine, why? Because they didn't actually break through their own field to do such a thing.

In this case, we faced the changes in the dividends of new media, did the global purchase knight privilege, launched the explosive product global purchase knight card, we only took more than two years to accumulate 50 million users, for the Internet, it is already a phenomenon-level product. We believe that a good entrepreneurial project is not only more prominent in terms of delivery ability, but also must be its product outstanding.

Back to the bottom of a product to see, everyone's cognitive level consumption habits are different, from their own point of view is no way to find a popular entrepreneurial direction, so to make the project from the niche to the public, you have to empty your own needs, with an empty cup mentality and empathy, to understand the broader user needs, from which to find a relatively correct direction. After finding the direction of entrepreneurship, the next thing is the operational level. How do you go about forming this team? What kind of people to use? How can products be changed less early and reduce trial and error costs? When the direction is clear, the efficiency of the matching will be higher.

Back to what is the real need of the user. The real need is to solve the user's core appeal, from the original cognition to find a good solution, like a taxi, previously can only be played on the side of the road, and then through Didi an online platform, users and drivers are connected together, through the core algorithm can save everyone's time, that solves a very core need, a good product, not only can help save money, but also save time.

If you want to achieve a phenomenon-level product, we must let the product cover all aspects of the user's life, so that eating, drinking and Tesco have our shadow and become a high-frequency product. So we did it, and we packed all the life services into it. We do this kind of e-commerce, and everyone will say what is the difference with others? We have an essential difference with other e-commerce companies, that is, to integrate rights and interests, and gather the preferential offers of each place here to help users save time and money.

Some people will ask, will these platforms compete with us? In fact, we are in a state of competition with them, a win-win state, and we continue to help them drain. Why can we do this for compatibility with both, and why should life services and e-commerce be put together? In fact, it is still a return to the core appeal of users, whether it is life services or e-commerce, it is a concept of consumption. We think that as long as enough offers are provided, users will not care whether you are an e-commerce platform or a platform for life services, but for him, habits will slowly form, right?

Success may actually have the same qualities, just two words called "timing". A project is done too early, the outlet has not yet come, his money has been spent, the project is done too late, but it does not have the first-mover advantage, in this case, the timing is very good. At the beginning of entrepreneurship, we have signed Jingdong, NetEase, Koala, NetEase, Yanxuan, etc. These big platforms, so it is important to learn to borrow power in entrepreneurship. The card is not famous, but they are famous, and when they do this, they can get our suppliers to endorse us, and with the first one, there is a second one, in fact, this advantage is consolidated and expanded in this way.

Looking at our user portraits, young users aged 18 to 35 account for 60% to 70%, this group of people is the backbone of society, and the value of these groups can be continuously extended and tapped.

Of course, everyone will ask that entrepreneurship is also to chase the wind, but also to see the dividend? I think this is very correct, because it has something to do with timing, we must cherish every penny in the early stage of entrepreneurship, cherish the opportunities given to us by investors, and find effective channels to penetrate it. Second, are they enough to offer? There are offers. That's good, but can he provide it for a long time? This is also a question to ponder. The third point is that the rights and interests provided must be competitive, and only those who have advantages can let him settle in, not that there is a discount to come in. Fourth, quality and channel are important.

There is also word-of-mouth communication, if there is a company that can grow rapidly, it must have a dual engine. Your customers will spontaneously let the people around them know at the same time, so we listen to the voice of the user very carefully. Because if a user says you're not good, it's possible that none of his 100 friends will use you. In the development of user cognition brand, we must continue to work hard, constantly optimize, and be a company with long-term value, rather than a company that makes a wave of money.

In 2019, when starting a business, the knight card has been successfully activated a member can be profitable, see this dividend, very large businessmen also joined this track, to copy us, and then they found the first wave of dividends, that is, the opportunity to make money through members has disappeared, they left, and then came the second wave of competitors, they also like we continue to access these rights and interests of the platform, e-commerce platform, they said that the first wave of membership fees can not make money, just earn money for e-commerce consumption, Then they found that in fact, their supply capacity was actually not good, and as a result, the second group of people left, and finally they were left with people who were very optimistic about the track, or people with huge funds who continued to compete with us.

Now as far as we know, we are the only ones who have received financing on the track, or during the epidemic, and now this first-mover advantage that comes out, our organizational capabilities, that is, the barriers to this supply chain that we have established, have actually allowed us to go farther.

In terms of profitability, we will still have a lot of space in the future, because we have more and more members, more and more users to repurchase, naturally when we repurchase, we will no longer have to pay marketing costs, which can help us to achieve profitability. Regarding the future development, each e-commerce company has its own direction, we also have, everyone's understanding of member e-commerce is not the same, and the user demands are also different. I think we are just going our separate ways, we will still return to the essence of the user, and then create more value for the user.