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【国元证券】安居宝:调研纪要

國元證券 ·  Jan 25, 2016 00:00  · Researches

Big B is the manufacturer, and the small B is the store. Currently, the B2B market is still quite promising. Work began in May last year. The B2B2C business platform consists of two parts: a BPB platform and a “peripheral discount” app. The BPB platform between Big B and Small B (peripheral preferential procurement and wholesale platform) is actually an online and offline integrated B2B secured transaction platform (similar to Alipay and Tmall). Realize the “de-centralization” of sales channels, and at the source help suppliers to drastically reduce channel construction cycles and channel costs, accelerate cash flow, and solve the problem of distribution difficulties. Address the interests of both product suppliers and terminal retailers at the source. Current progress: The development of the PC side of the platform has been completed, the mobile terminal was launched at the end of January, and the investment promotion of major B-side merchants has now started. The “Peripheral Deals” app (released in May 2015) is a new O2O shopping guide platform that integrates shopping, sharing, communication, and services (no capital transactions, just drainage). Stores can post discount information on their own, and the company strives to make it the app with the most discount information in China. The company charges 1 yuan/kilometer (using the store as the radial radius of the center of the circle) /day for posting preferential information to stores. Light value products or services (bakeries, laundries, etc.) often require a lower radiation radius of about 1 kilometer, while stores with high value products or services (home appliances) require a larger radiation radius. “Surrounding area discounts” focus on services located 3 kilometers around the community, providing users with convenient living and real discount information, and bringing real convenience to community users. C-side fans use “peripheral discounts” to find discount information, and Xiao B uses it to post discount information to draw traffic to stores. Positive feedback is formed between stores and users, and can also attract big B manufacturers to participate in the platform. When “Surrounding Area Deals” was first released in May of last year, it only supported the publication of discount information, and then the function of issuing coupons was added. The publication of coupons on the “Peripheral Discounts” platform is different from popular reviews, Meituan, etc. First, “peripheral discounts” are released for free. Furthermore, there is no deposit of merchant funds. Customers receive vouchers to spend at stores instead of buying vouchers first and then going to stores to spend with vouchers. Therefore, they have a certain appeal to stores. For users, the payment time is delayed, and they get free options that can be cancelled before actual consumption. Current progress: 198,000 stores have been registered in 35 cities across the country. The company's B2B2C business platform is somewhat innovative compared to other companies on the market. Compared with the Huicong Wholesale Network, Echo, etc., the company has more B2C, connected services, and built an ecosystem. 2. Promotion plan 1. Promotion of stores (b) and fans (C) A. Company promotion has covered 35 major cities (major provincial capitals) a. Local promotion and entry of a certain amount of local discount information and coupons. For example, Guangzhou plans to enter more than 10,000 offers and discount information (Meituan and popular reviews in Guangzhou only have more than 7,000) b. Distribute promotional materials and environmental protection bags with surrounding promotions to local stores. For example, Guangzhou will distribute 3 million plastic bags to no less than 100,000 stores, and distribute over 100 million plastic bags nationwide (free plastic bags, 800 million plastic bags for a small cost) Minutes, the big one six The average is between 1 cent 2 and 1 gross 3. With the gradual promotion of the business, “information related to surrounding discounts” will be printed on both sides of the plastic bag on one side in the future, while the other side will be sold as advertising resources in exchange for revenue balance production costs). Plastic bags are taken home by users and have high visibility. c. Regularly send plastic bags and promotional materials free of charge to merchants (small b) who register to download “peripheral offers” and receive discount information and coupons to stimulate store enthusiasm. Guangzhou is expected to distribute 6 to 8 million within six months. According to this scale, every household in Guangzhou will own at least one plastic bag. d. Users who download the “Peripheral Offer” (C-side) will receive a 1-hour “Personal Bodyguard” worth 38 yuan (“Body Guard”), a unique personal safety protection mobile application that comes with the peripheral discount app. It provides 7*24 hours of emergency help for personal accidents, and provides users with paid help services through voice deterrence, audio and video surveillance, shaking alarms, etc. Price: ¥38/hour, recharge available) app to attract and increase user stickiness (a total of 30 million copies are planned to be sent out nationwide). Current progress: The above promotion plans in 35 cities will be completed within 3-5 months. B. Qiancheng Promotion Plan a. Launching a partnership system with counties and districts as units. It is intended to recruit no less than 2,000 county and district partners (recruitment will be completed before May) and quickly spread throughout the country; 1-3% of wholesale turnover will be used as commission, and fans will be rewarded: ¥3/person. b. Recruit local security engineers from various municipalities as local promotion partners. The company will use store alarms, network camera sales agents, and cloud parking business agents in some regions as conditions of cooperation. c. The first to fourth steps are the same as in 35 major cities: users who download nearby offers (C end) are given a one-hour personal bodyguard app worth 38 yuan to attract and retain users (the national plan is to send out a total of 30 million copies). Current progress: The recruitment of partners has now begun and will be completed by the end of May 2016, and the promotion work will be completed in Qiancheng by the end of July. 2. The investment promotion of manufacturers (big B-side) uses stores registered with “peripheral discounts” and the free sending of discount information and coupons as a selling point to attract manufacturers to enter the platform. Means: plastic bag advertisements, apps' own advertisements, media promotion, etc. Preferential measures: All large B-side manufacturers and large wholesalers were completely free of service fees for the first half of the year. Currently, all platforms entering the market basically charge service fees. JD 2W, and many other platforms 4-5K/year, Tmall not only requires service fees, but also 8-10W deposits. After half a year, the membership price will be determined based on the development of the platform and merchants. 3. Project development space and benefits Offline transactions currently account for about 80% of the country, with a space of about 10 trillion dollars. Project revenue sources: 1. Membership fees for manufacturers entering the platform 2. Advertising fee revenue: a. Peripheral preferential advertising b. Accurate promotion of store advertisements by manufacturers 3. Intermediate transaction fees, technical support fees, and plans of 3%-8% (maximum). Here, it will be split between partners. After deducting fees from payment channels, it will be split in half with Heji Promotion Partners. With the gradual development of later business, there will also be certain adjustments.

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