Business Opportunities For Yintai, But Opportunities, The Retail Industry Will Further Erupt.

In the voice of the serious impact of the electricity supplier and the cold winter of the physical retail industry, Yintai business has used its pcript of O2O pformation over the past few years to prove the entity.

Actively embracing the Internet will have bright prospects.

Yintai business and its online platform are a typical example. In the view of the executive director of Yintai business and CEO Daniel Chan, the electricity supplier is attacking the old department stores, but it is an opportunity for Yintai business.

The impact of the electricity supplier on the physical retail industry is no longer fresh. Taking double 11 this year as an example, Alibaba sold 91 billion 200 million yuan a day, an increase of 60% over the same period last year.

Nevertheless, executive director of Yintai business, CEO

It seems that the electricity supplier is a shock to the old traditional retail department store, but it is a great opportunity for the retail enterprises who have completed the O2O layout.

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For example, Yintai network, a commercial online platform, has seen an increase of 75% in sales during the double 11 year, compared with an increase of 42% over the same period.

Although the domestic retail profits of A share listed companies have been slowing down year by year, Daniel Chan's view that China's consumption and retail industry has not slowed down, but the consumption upgrade has only taken place. "China's consumption upgrading has just begun, and the retail industry in China will further erupt in the future".

Taking Yintai business performance as an example, the company went public in Hongkong in 2007. Now there are 45 shopping mall department stores in the country. It is the only shopping mall department store that has its own large scale electric business.

"The development of Yintai network is good. This year's sales amount is equal to the total sales volume of all retail stores in China. The market value of Yintai business is several times the total number of Listed Companies in Hongkong."

Daniel Chan added.

Daniel Chan frankly said that the relationship between the electricity supplier and the entity retailing industry should not be the enemy's relationship. Instead, the two party should embrace it quickly. If the two sides combine to serve customers and create value for customers, it is the outlet for the traditional retail enterprises.

If the industry is not yet ahead of the line, it will be impossible to make O2O in pition or offline stores. It is impossible to upgrade the shop offline through online stores. O2O is not a life-saving straw, it will significantly enlarge the advantages and disadvantages of online or offline platforms.

"Transformation should be built on the basis of the original business upgrading. First of all, the company should have a clear judgement on its industry". Daniel Chan said that it is precisely because Yintai business already has a clear description of the industry that it can move forward step by step.