Box Ma Xiansheng began to "turn positive".
"Adjusted EBITDA of stores over p>“12 months old has all turned positive." Recently, Hou Yi, founder and CEO of Box Horse Fresh Life, stood at the Ali Investor Conference to share. This is the most grand appearance of Hou Yi since the independence of Box Horse Business Group in June this year. In front of more than 711 investors, Hou Yi also threw out a lot of key data.
By the end of August this year, Boxma Xiansheng had opened 171 stores in 22 cities across the country, initially completed the national layout, and basically completed the nationwide live fresh cold chain. In the past year (August 2118 to August 2119), the number of fresh and active buyers of Box Horse reached 21 million, with an annual retention rate of 61%; The proportion of online GMV climbed from 51% to 61%; The GMV of the same store increased by 13%, and the average operating cost of each store decreased by 31% ...
A series of bright data all conveyed the growth and value of the box horse model.
online celebrity's "becoming a full member" means the initial operation of the box horse model. With the initial establishment of the national network of box horse stores, does it mean that the new retail "printer" era of box horse will come as scheduled?
born for data
in an office of gaode map, a project codenamed "Wudaokou" was founded and hatched here. At that time, it was still the dividend period of mobile internet in 2115. "Wudaokou" means "five meals to the mouth", which is a breakthrough project from catering.
according to a client's memory, the carpet in the conference room was dirty, the table was rickety and the air conditioner was not good. However, this group of entrepreneurs were very happy, and everyone had light in their eyes. Because, "Wudaokou" has a grand dream-transforming traditional offline commerce.
"scene +APP" is the secret of its offline transformation. It creates the connection between the platform and users through the APP, so that people can digitize, goods can digitize and payment can digitize.
At present, the Wudaokou project has covered 22 cities across the country, opened 171 stores and served more than 11 million customers. It is the predecessor of a new species in online celebrity, Boxma Xiansheng.
when you walk into the box horse fresh food store, the overhead conveyor belt will attract people to stop and watch. In front of the small operation desk, after the order is reminded by the bell, the clerk waiting in front will quickly place the order, and then other clerks will relay it to carry out a series of operations such as picking up goods and packaging. After completion, the packaged order will be sent to the back warehouse through the overhead catenary system (the box horse is the front store and the back warehouse). In order to achieve a 31-minute delivery within a radius of three kilometers, the riders have been waiting at the edge of the warehouse for a long time.
The box horse model focuses on "catering+supermarket" for white-collar workers born in 1981s and 1991s. In marketing, offline restaurants eat cheap seafood to detonate, while online orders rely on instant delivery service to single point blowup in 31 minutes. In the top-level design of the "explosive" mode of Box Horse Fresh Life, the all-digital link from the source of product production to consumers should be realized.
therefore, it requires higher efficiency.
In circulation, it is obvious to see the breakthrough of box horse in logistics. First, the efficiency of internal sorting; The second is the speed of external instant delivery.
It is precisely because of the efficiency that Boxma Xiansheng needs to cover a three-kilometer life circle through the density of the store, which is later "packaged" as a "box area life" scene. Hou Yi, founder of Box Horse, said at the investor conference that Box Horse Shanghai has covered all the main urban areas, and the core cities are constantly expanding their service boundaries. Rather critical, the online and offline links of Boxma Shanghai were the first to run through. Then, the Shanghai box horse model expanded rapidly.
It is understood that online orders of Boxma Xiansheng are as high as 61%. Based on this, Bao Yuezhong, a new retail expert, told Dige. com that the box horse model is innovative. It abandons the traditional concept of customer unit price and puts forward the concepts of "daily work", "three activities in ten days" and "getting home in 31 minutes".
It can be seen that Boxma Xiansheng, who has Internet genes, shoulders the task of diversion and retail digitalization.
Provide big data site selection and product selection according to online data such as users and express addresses accumulated by e-commerce platforms; According to the black technology such as thermal induction, the information of users arriving at the store is captured; Scheduling according to the algorithm to improve the efficiency of warehousing and logistics; Through the third-party payer, users can access the cloud in the purchase process ... In Ali's words, the "people and goods yard" can be transformed through data.
Box Horse Fresh Life is not only the offline retail carrier of "supermarket and catering", but also undertakes the functions of logistics, user operation, output experience and so on. In essence, Box Horse Fresh Life is an entrance for Ali to reach offline, and it is also the center of user transformation and data.
In fact, Ali's purpose is very clear. He uses technology and the Internet to change the offline retail industry, especially to make a fuss about efficiency and customer experience. When the model runs through, it will usher in the replication time, and then it will be the time for Ali's new retail to "make a big counterattack" against offline retail.
Nowadays, Boxma Xiansheng has risen like a myth. As a model project of retail digitalization, it is also one of the few new retail benchmarks in China, and its position in the Ali system has been continuously improved.
The status of Boxma Xiansheng also reflects the strategic position of Ali's new retail.
Change tracks
With the continuous disclosure of the achievements of Boxma Xiansheng, its strategic route can be seen.
The strategy of Boxma Xiansheng is to create the concept of IP in the early stage, screen and attract middle and high-end consumers who need their own services from a larger service radius, and then narrow the radius of opening stores to be closer to the screened consumers. In short, Boxma Xiansheng first builds IP, expands coverage, and then increases density.
first of all, it creates a high-quality user experience, whether it's service at the store or at home, and realizes online and offline collaboration; Secondly, provide a series of ultimate products for the target customers, such as Boston lobster, king crab, French oysters, etc., and standardize the finished or semi-finished products; The third is to provide a set of value-added services, open up seafood processing areas, provide offline dining, experience kitchens, 3D interactive areas, etc. Fourth, build a highly sticky user circle through APP, especially young white-collar workers.
The new species, Xiansheng Boxma, has been generally valued by the industry, calling it "reconstructing the pattern of fresh e-commerce", "scene killer" and "supermarket changer" ...
Xiansheng Boxma stepped onto the altar and began to cast a net all over the country.
obviously, you can't do the box horse with heavy mode, and the mode can't run without Alibaba's money bag.
The first half of 2118 was the peak period of Boxma Xiansheng in sturm und drang. At that time, it raced around at the speed of "opening 1 stores every 4 days". With the expansion of Boxma Xiansheng, Ali's expenses on "purchasing goods and equipment" also increased sharply. According to the financial report, in the second quarter of 2118, this expenditure suddenly climbed from 5.616 billion yuan to 9.759 billion yuan, with a month-on-month increase of 73.77. It can be seen that the consumption of Ali's cash flow by Box Mamen Store.
however, speed cannot hide the problem. There are many problems in the front end of box horse, including management problems and product problems, which also causes the discussion on the success of box horse model.
According to the data of the Top 111 Chain Associations in China, the sales performance of Boxma Fresh Life in 2118 was RMB 14 billion. Considering the comprehensive factors such as the number, time and area of Boxma stores, after calculation, the average efficiency of Boxma in 2118 was RMB 21,111 to RMB 31,111. In contrast, according to Huatai Securities' research report, in 2117, the floor efficiency of standard supermarkets in China was RMB 4,111, that of hypermarkets was RMB 3,111 and that of convenience stores was RMB 21,111.
comparing the two groups of data, on the whole, the core data of ping effect is almost the same as the industry average. In other words, the box of Ma Xiansheng, which Ali invested heavily in, has lost everyone. It is not difficult to predict that with the increase of new stores, the efficiency data of Boxma Xiansheng will continue to decline.
Even Hou Yi is emphasizing the four indicators of fresh box horse: the field efficiency-the output per unit area is constantly improving; Human efficiency-how to allocate manpower; Aging-all goods are packaged in the shortest time; Flow efficiency-how the supply chain flows.
However, businesses that don't make money are always hooligans.
In fact, Boxma Xiansheng is also making adjustments. On the one hand, the expansion of Boxma Xiansheng Store has slowed down, and in April this year, Boxma Kunshan Store was closed. On the other hand, on the road of expansion, Box Horse "tailors" different box horse formats for offline scenes of different scenes.
this adjustment is also projected on the financial report. according to the data of Ali's second quarterly report in 2119, the index data reflecting the new retail investment level is 5.856 billion yuan, slightly higher than 5.688 billion yuan in the previous quarter and far lower than 11 billion yuan in the third quarter of 2119.
obviously, burning money is unsustainable, and profit in transition is the right solution, and profit is also a prerequisite for the replication of the box horse model.
After more than three years of attacking the city and plundering the land, Boxma Xiansheng has changed the momentum of holding high and fighting high, and turned to the substantial landing of profit. However, there are two major challenges in front of Box Horse.
First, Box Horse should maintain the momentum of C-bit growth in Ali's core e-commerce new business and continue to be the entrance for Ali to grab offline traffic; Secondly, Boxma Xiansheng should get rid of the online celebrity constitution of burning money and further reduce the cost in order to expect a wider range of replication, for example, further spread to food markets, pre-warehouses, fresh supermarkets and other retail formats.
"The box horse model is difficult to make a profit in the narrow zone between the tight cost warning line (below) and the determined flow limit (above)." The insiders commented.
Undoubtedly, if it's just to make money, Ali doesn't need to use the data standard to hatch the box horse fresh life. Anyone who is familiar with Ali knows Ali's investment logic. Generally speaking, Alibaba's strategic investment is aimed at control. Ali's capital injection into Gaode, UC, Yintai, Hungry, etc. all experienced the fate of minority equity investment first, and then overall control. Of course, there are also "disobedient people", such as Meituan and ofo.
obviously, the more important significance of box horse incubation lies in strategy.
the novelty of new retail lies in data, however, no matter how new it is, it can't escape the essence of retail. However, in terms of traffic capture, the more stores there are, the wider the reach will be. Now it seems that with the help of capital, Box Horse has run out of 171 national stores in four years, and the state of racing against time can be seen. However, the number of 21 million active buyers that Boxma Xiansheng holds today is still not enough to support the myth of this model.
In a sense, Box Horse's new track change is to return to the essence of retail, and to further fulfill Ali's mission of grabbing "incremental users".
data
recently, at the Yunqi conference, Ali's clarion call also changed from "five new" to "hundred new", which seems that the new retail style is out of date. However, the glamorous coat of "digitalization" has not faded.
Zhang Yong, CEO of Alibaba, once talked about three criteria for Ali's new retail investment in an interview with Dige.com: ① whether it can acquire new incremental users; 2 Whether it can improve the user experience; ③ Innovation and development of change technology.
obviously, "incremental users" is the key word.
Han Wei, president of Bain Greater China, believes that Ma Yun put forward the new retail concept because Ali needs to seize the offline market share as much as possible under the trend of slowing down the growth of e-commerce industry, thus making an exploratory attempt.
The scale and users are hidden behind the online retailing. Especially when the mobile Internet traffic dividend disappears, the traditional retailing has to be changed again. In addition, the retail infrastructure such as mobile payment and technology has been continuously improved, so the air force (online retailing) has both sufficient and necessary conditions to attack the army (offline retailing).
"users and scale" are the two core demands behind the new retail
In fact, after the listing of Alibaba, the annual growth rate of the whole e-commerce industry is a downward trend. According to relevant analysis, by 2119-2121, the growth rate of the industry may fall to more than 21%. On the one hand, it is a slowdown, and on the other hand, it is a high valuation. Ali's performance is under pressure and it is necessary to find a way to stabilize the growth rate. Therefore, the new retail strategy is ready to come out, and it has also become the first of Ali's "five new" and took the lead in landing.
from Ali's financial report data, we can see the effect of new retail promotion in the past three years.
according to Ali's latest financial report, in fiscal year 2119, Ali's Q4 revenue reached 93.498 billion yuan, a year-on-year increase of 51%. The net profit also reached 21.156 billion yuan. The growth rate of Ali is about 2.5 times that of JD.COM and 6 times that of Vipshop. Even compared with the global Internet giants, Amazon (17%) and Facebook(26%), Ali is in a leading position in the growth rate of the global Internet.
The growth of users is also obvious. In fiscal year 2119, the number of active users of Ali-based e-commerce reached 654 million, an increase of 18 million compared with the two months ended February 31, 2118. It is worth noting that its monthly active users on the mobile side reached 721 million, an increase of 22 million compared with February 2118.
With such a large volume, the effect of the new retail "flow" strategy can be seen.
conversely, the growth of Ali's financial report data also confirms the interpretation of Ye Guofu, the founder of the famous product.
Ye Guofu analyzed, why did Ma Yun buy RT Mart and entities? What is needed is data. In A shares and Hong Kong stocks, all listed retail enterprises add up to HK$ 211 billion, but the valuation of Ant Financial is RMB 1 trillion. If I were Ma Yun, I would take all the supermarkets. It doesn't matter whether I make money or not. The key point is the data. It is easier to make money in the financial industry by 1111 times and 11,111 times than in retail.
data, data, data, the important things are said three times.
Obviously, Internet companies such as Ali, JD.COM, Tencent, Suning, etc. entered the new retail market, and they didn't focus on short-term profits. A lot of real money was thrown offline, just to grab the offline users' contacts and rely on it to promote digitalization. Data is growth, which is the long-term profit value.
With the data, there will be a picture designed by the giants. The future retail will be the next batch of goods online and offline, with zero inventory from production to sales and high efficiency of what you see is what you get ...
In essence, the new retail is a data conspiracy, and Boxma Xiansheng is the "No.1 Project" to support this conspiracy.
printer mode
copying is the ultimate mission of box horse mode.
Only by copying can we get through the retail business scenarios such as Yintai, Xinhuadu, RT Mart and other offline supermarkets, department stores, etc., and only by copying can we make the digital economy in Ali get more flowing water from the "active users" index.
Along the way, Boxma Xiansheng crossed the river by feeling the stones. Since the second quarter of 2117, after the merger of Box Horse Fresh Life and Ali's core e-commerce business, the experiment of Box Horse mode has obviously accelerated.
In February last year, Box Horse took over Easy Fruit Fresh-keeping. In the fresh-keeping supply chain, Box Horse Fresh-keeping has more support. In June this year, Ali adjusted its organizational structure and upgraded Box Horse to an independent business group within the Ali system. Mr. Hou Yi continued to serve as the president of Box Horse; Not long ago (September 12), Boxma Xiansheng and Hungry made a one-dimensional strategic breakthrough.
The significance of getting through the data of "Hungry" and "Hungry" on Box Horse Online is nothing more than the fact that Box Horse Fresh Students are supported by the traffic portal of "Hungry". At this point, Box Horse Fresh Online has at least five channel entrances, namely