Yintai Is On The Internet. Can Technology Children Save The Department Store?

In recent years, it is in deep water.

The industry tried to turn things around and made eighteen kinds of Wu Yi on the road of change.

In the department store or deep or shallow attempt, the pformation of Yintai business group (hereinafter referred to as "Yintai") is most eye-catching. Apart from Alibaba's stake, it is closely related to Baidu and Tencent.

From this level, the traditional department stores are trying to modernize their products, putting technology factors and Internet into the department stores.

The question is, can department stores get better?

"Fighter" Yintai

Because Yintai and Internet Co increasingly cooperate, Yintai is known as "Internet Co in department stores" in the industry.

Recently, Yintai announced that it would access Baidu's BaiduEye (smart glasses) for exploration in the field of intelligent business.

The move is intended to provide consumers with the first perspective of consumption experience.

Baidu chose Yintai as the first partner of China's retail industry in BaiduEye. Yu Kai, director of the Baidu Research Institute and director of deep learning laboratory (IDL), said that it was a popular entity chain advantage and Internet thinking.

Yintai's idea of Internet thinking stems from its cooperation with Internet Co. The most profound source of business is Alibaba.

In March this year, Alibaba invested 5 billion 370 million Hong Kong dollars in strategic investment in Yintai business.

Subsequently, Yintai and Alibaba cooperation products launched in succession.

The most proud of Yintai is to launch a virtual membership card, "Yintai Bao" with Alipay, to open up the whole chain of office card, storage value and payment.

According to Yintai business data, "Yintai Bao" has been online for one month, with more than 1 million 700 thousand registered members through Taobao mobile platforms and Alipay wallets, exceeding the total number of entities accumulated over 16 years under the Yintai line.

Recently, Yintai and

Under the banner of Amoy little cooperation, the use of iBeacon's "micro positioning + indoor navigation" technology, shopping center shopping guide shopping project.

Before Yintai and Alibaba became a family, last year, "double eleven" Yintai and Tmall mall cooperate in the O2O field, and 35 entities store under the Yintai line participated in the "double eleven" promotion.

This year, 3. 8 Taobao Mobile Shopping Festival, Yintai again fully cooperate with ALI.

For Alibaba's stake in Yintai, both the outside world and Yintai themselves are full of expectations for the future.

Strong Alibaba has abundant membership and massive data. If the two parties can get through each other's resources, they will have boundless power.

The ideal future is: after the two party cooperation, the two sides will realize the docking of membership system, payment system and commodity system, so as to build a set of basic system to open up online and offline businesses, and realize the seamless trading of commodity pactions, affiliate marketing and membership services under online and offline businesses.

In addition, Yintai also supports WeChat payment.

So far, Yintai has been in the hands of BAT giant.

The pformation to O2O has been advertised by Yintai, and it has been on the rise all the way.

"Yintai's series of pformation shows that Shen Guojun, chairman of Yintai group, is more receptive to new things, and can be implemented quickly with ideas. It goes far on the road of pformation.

And Yintai is a relatively strong capital consciousness enterprise, from its cooperation with Alibaba can see.

Zhang Jun, Secretary of Liqun department store, told reporters.

Deep cooperation is blocked

Although Yintai has embarked on the fast track of change, it has not been easy to get market recognition. Its semi annual performance failed to bring yinliang a bit of light, and it poured a cool basin of water into a dismal department store.

Yintai semi annual report shows that its revenue in the first half of the year was 7 billion 917 million yuan, an increase of 1.7% over the same period last year, with a net profit of 507 million yuan, a decrease of 30.72% over the same period last year.

Same store sales fell 2.4%.

16 stores in 38 department stores had a negative growth in sales.

However, the Internet did not bring a turning point for Yintai.

Like other department stores, the reason is in the gloom: the overall economic situation is not good, the electricity supplier shocks, and limits the "three public" consumption policy.

Yintai's pformation has not become a catalyst for performance improvement.

Zhang Bing believes that Yintai's reform will hardly produce immediate results in the short term, but in the experimental stage, Yintai will take more steps and accumulate more experience.

Huang Guojun, an investment director of Limited by Share Ltd in Tianhong market, said the pformation of Yintai is very open, and the combination of other industries is much more.

But at present, Yintai is just a preliminary vision, how to fully advance, and finally how to fall to the ground, there are higher requirements.

The pformation effect needs to be observed.

After the announcement of Alibaba's stake in Yintai, the process of in-depth cooperation between the two has also slowed down.

Almost no progress has been made in all aspects of the system that had been conceived before.

Some questioned the effect of Yintai's pformation.

Liu Hui, chief consultant of Beijing City Retail Management Consulting Co. Ltd., said: "Internet Co and real business are two different systems, and it is difficult to fully integrate.

Membership, payment and commodity access are only theoretical visions, and the cost to achieve this goal is very high.

If you invest so much, you will never want to do it.

And it involves the interests of the two parties. Who should pay more? Internet companies will definitely not get out. Retail businesses are so poor in business that they can't afford to go out.

Yintai is taking the lead in other enterprises' new attempts, and may seize the opportunity. The other side of coins is to pay for trial and error.

Yintai business CEO Daniel Chan once told the media that Yintai had launched the online shopping card business, which was intended to facilitate the shopping card users to buy cards online, but never thought that the sales volume had not kept up with the physical stores, and people were more inclined to purchase good shopping cards with good performance stores.

So the investment in this area is nothing.

How to balance the cost of trial and error and the performance of the company, the department store industry is also chaotic.

Huang Guojun said that everyone should not be very clear about how to go in the future. We can only move forward slowly and take the time to decide.

Although Yintai built its own website, Yintai network is a leader in the traditional retail industry, but its sales volume is only a drop in the bucket compared with the heavyweight electric business.

In 2013, the sales volume of Yintai network amounted to 900 million yuan, accounting for 5.9% of the total turnover of the group.

However, in Liu Hui's view, Yintai network has become a chicken ribs.

The rich data that electric business enterprises master is considered to be the killer of traditional retail enterprises.

But that may be changing.

Liu Hui said, Internet Co's data is its own data, not the entire Internet data, is not comprehensive, what is needed now is the sharing of Internet data.

This data store can be bought at cost. It is not cost-effective to spend hundreds of millions of websites building.

However,

The small partners do not think so. Self built online shopping mall has more far-reaching strategic significance.

Huang Guojun believes that the Department Store self built online shopping mall will undergo a shuffle process, but there will still be opportunities in the future.

Tianhong now has an online shopping mall independent of physical stores, and terminal convenience stores to solve the final delivery of one kilometer.

"You can't split the PC terminal and the mobile phone end.

Later, the website will be able to better develop the role of mobile Internet, combined with the mobile phone user side. The future LBS based business will certainly be a great success.

Now there are some clothing brands online navigation, to provide consumers with collocation, all of which are based on LBS system.

O2O "virtual fire"

Although department stores have different modes of pformation and different degrees of openness, most department stores are happy to throw olive branches to Internet Co.

Top grade discount in Hangzhou and Tencent hand in hand to create WeChat O2O concept store, Wangfujing department stores try shopping guide digitization, department stores on WeChat to open service number is more common.

Zhang Bing believes that O2O is now relatively hot, but online and offline integration takes time, even if the Internet thinking pformation speed up, it takes time.

The formal O2O is not as good as the actual O2O result.

Compared with the previous department stores, WeChat has declared that they are implementing O2O strategy. Today, department stores and Internet Co have deeper cooperation.

In addition to Alibaba and Yintai alliance, Wanda is also allied with Baidu and Tencent.

What makes the traditional department happy is that these giants do not seem clear about the way out for the future.

Zhang Bing analyzed that the online and offline shopping groups are independent and cross degree is not enough.

However, from the perspective of the big trend, the future business will lead the customer group's coincidence degree by organizing activities.

When their integration is getting higher and higher, the advantages of merger will be more obvious, but this needs process.

In Zhang Bing's view, under the impetus of the economic and environmental competition situation, more capital penetration will emerge, and finally the online and offline integration will be achieved.

And then feedback to the industrial production link, causing the entire supply chain pformation, and finally achieve a new balance.

Trying to make a new pformation in the department store is like an uncertain future bet. The effect is not obvious in the short term. The most saving way for the future department stores is shopping center and brand adjustment.

Take Tianhong as an example, in addition to Internet, try to remove the old department store labels and carry out shopping centers.

To increase experience formats in shopping malls.

In addition, the theme editors of commodities can be displayed, and goods will be displayed according to the scene and lifestyle to provide convenience for consumers.

The pformation of Liqun department store in Shandong is also dominated by category adjustment and experiential format.

The effect of brand adjustment is immediate.

Huang Guojun pointed out that the most important thing is how to pform the department stores.

What a department store should consider is how to provide an environment that allows customers to buy goods better and faster at the lowest cost.

However, department store brand adjustment and shopping centralization can not withstand the cold winter of the industry, and there are also potential threats approaching.

Liu Hui is worried that in addition to the electricity supplier, there will be other shocks after the department stores.

Such as mobile payment, APP and so on.

"The most likely impact on the department stores in the future is APP and market segmentation.

I have seen a few projects and have not done much to promote them.

Some brands do it themselves, some are small mobile mall made by technology companies.