Yintai Business Daniel Chan: Now Must Return To The Essence Of Retail

Yintai Hangzhou Wulin general store "four capricious" press conference

Recently, a billboard "love Hangzhou and visit Yintai" appeared in Xiaoshan airport and Hangzhou East Railway Station, triggering a heated debate among netizens.

"This billboard is very cordial, conveying the affection of Hangzhou people to Yintai."

After 85

Madame Wu said that for many years, in her mind, Yintai represented youth, fashion, vitality and unremitting pursuit of life in the United States.

Yintai, who has been in Hangzhou city for 18 years, has been seeking pformation and development. It has changed "Butterfly" again and again, bringing new shopping experience to consumers.

As Daniel Chan, CEO of Yintai business, said, the traditional management mode of retailers has come to an end, and now we must return to the essence of retailing.

Yintai willfulness

Starting from last year's double eleven, Yintai has implemented the same price on the line and the same line at the same time, and implemented willful retreat, willful loss and capricious delivery, providing the ultimate experience for the vast number of customers.

Carnival.

In August 1st this year, Yintai Hangzhou Wulin general store upgraded the "capricious compensation" and launched the capricious compensation price.

Guo Min, deputy general manager of the store, said that in particular, the service will be "below the line price difference" - consumers purchase at the Hangzhou Wulin general store.

The prices of such commodities (except fine goods, cosmetics, gold jewelry, household appliances, Western election, etc.) are higher than the prices of the goods in the official flagship store of Tmall on the same day, and the cash difference can be obtained with the merchandise purchased, the small ticket and the official flagship store of Tmall.

Guo Min said, "from commodity to double line parity, Wulin general store can be said to be a group leader in innovation, the three willful pformation four willfulness, is an important measure to innovate and adapt to the upgrading of consumption."

Daniel Chan stressed that Yintai should continue to be a subversive of the industry, overturn the old thinking, improve the efficiency of the supply chain, highly integrate the commodities and prices on the line, reduce the distance and cost from goods to customers, and give customers the benefits through "letting go".

The logic of "foolishly handsome"

If business wants to return to its essence, it must practice hard.

In Daniel Chan's eyes, the retailing industry, like other industries, is in a period of pformation and pformation. It is necessary to graft new technologies, such as the Internet, break through the original ideas, have new business ideas, and have new technologies and means instead of sticking to the rules.

The premise of all this is to restore the original martial arts skills of department stores.

So what did Yintai do? Daniel Chan said, what Yintai wants to do is embrace the Internet thinking, make the Internet a tool, and become a "fool and handsome" Yintai.

For customers, Yintai will become silly.

Yintai takes the lead in the industry to return goods unreasonably for a month.

As long as Yintai, customers do not meet the requirements of return, you can go to customer service.

For employees, Yintai will become silly.

For employees, Yintai did a lot of things, such as employees' emotional leave and Spring Festival closing.

"In my opinion, Yintai should be a bit more stupid for employees because they are going home for the new year."

For the industry, Yintai will become very handsome.

In the European and American retail industry, a department store once returned 4 tires for its customers.

In Yintai, even if there is no small ticket, no packing bags, the salesperson will give you back.

You can't go back to customer service, customer service will still give you back.

"Because we believe that every customer is well intentioned."

Yintai is fashion.

Daniel Chan often says to people around him, don't go to the line of anxiety, please go back to the essence of retail.

"To reduce the supply chain level and realize the true integration of online and offline businesses, only by breaking away can we create real value".

In Daniel Chan's view, the innovation and pformation of Yintai are endless, and often dare to become the first person to eat crabs in the industry.

For the online and offline problems that we are concerned about, in Daniel Chan's view, this is not the two thing. It is just a closed loop for the customers to create an undifferentiated online and offline integration.

Only by solving the pain point of consumers and bringing consumers value, the future of business can be seen.

What is a better integration? For example, you especially like a brand's clothing, which has been bought for a long time, which is very familiar with the brand, including style, size and so on.

When you are free, you can try the shopping mall and enjoy the services provided by the mall. You can also join the brand community through the "meow goods" when you are not available or when the mall closes.

The Internet is only a tool and means, and ultimately it is around the needs of customers to provide services.

"People who rely on the Internet can't replace the experience of eating, skating and watching movies."

Let more consumers feel the joy of retail, which is what Yintai has to do.

Good things are not expensive.

The 2015 annual report released by Yintai business shows that the total sales volume of the same stores nationwide is 16 billion 760 million yuan, up 6% from the same period last year, and the retail income is 5 billion 150 million yuan, up 12.3% over the same period last year. The net profit of the parent company is 1 billion 320 million yuan, up 17.5% over the same period.

In Daniel Chan's view, from the general trend of consumption, people's consumption structure is upgrading from living consumption to developing consumption, upgrading from material consumption to service consumption, upgrading from traditional consumption to new consumption, and the trend of this upgrading is becoming more and more evident and faster.

With the upgrading of consumption, China's retail market will continue to flourish and inject huge potential into the market, but the supply chain will also be integrated in the future.

Besides, the customers of department stores are also changing.

With the continuous growth of the high net worth population in China, people are getting rich before they are old. They have money and resources to judge sales channels. People can choose to like or dislike willfully.

In the future, young people will not care which is the Internet and which is not the Internet, so retailers should not be entangled in line and offline.

Retailers' endorsement of goods quality and price is an inevitable responsibility, which is the value created to customers.

What is the value of retailers? Daniel Chan gives an example, like the Yintai Xi election, that is, retailers are endorsing the quality and price of these goods.

"These goods are not created by you, but you have added your effective work in the circulation of commodities to create the value of circulation."

Daniel Chan said, but if it's just a simple Porter, it will be no good to display these products. It should be "good things are not expensive" before consumers.

As the summit approaches, more and more foreign friends are coming to Hangzhou. Yintai will show the best in the world and add color to the service industry in Hangzhou.