Does Mogujie.Com Want To Be The Next Little Red Book?

The spring is coming, and mogujie.com appears to be slowly developing its new bud.

According to the world clothing shoes and hats net, in February 25th,

The first pcript was released.

In the 4 quarter of 2018 (according to the 3 quarter of fiscal year 2019), mogujie.com realized a total revenue of 367 million 200 thousand yuan, an increase of 20.3% over the previous year and a 57.2% increase over the same period.

In 2018, mogujie.com platform GMV was 16 billion 978 million yuan, an increase of 21.5% over the same period last year.

June, chairman and CEO of mogujie.com's board of directors, said that the above performance was mainly due to the strong growth of mogujie.com's live video broadcasting business.

Riding on WeChat's small program Dongfeng, mogujie.com picked up a wave of live traffic.

June said: "live streaming not only provides users with more interesting, more attractive and interactive features.

Explore experience, and provide data on current trends and user needs, so that we can create more efficient fashion industry value chain. "

Indeed, in recent years, mogujie.com has always regarded live broadcast as an important carrier of fashion content.

Not only the important resource bits in APP have been left to the live broadcast entry, but also WeChat's online live mogujie.com applet Mini program is dedicated to the construction of a new mode of "social interaction + live + business".

The latest financial data also affirmed this effort: mogujie.com's live broadcast business GMV grew by 177.8% in the quarter, and the number of live MAU (monthly live users) increased by 43.6% in 2018, and active users spent more than 54 minutes on average on mogujie.com platform every day.

But is mogujie.com really able to rely on live broadcasting all the time?

It is embarrassing that in the 4 quarter of 2018, the number of active buyers of mogujie.com was 34 million 500 thousand, an increase of 1.8% over the same period last year, and the increment was very small. With the limited stock, it is foreseeable that the live broadcast business will inevitably encounter bottlenecks.

From the moment when mogujie.com positioned the user group as a female consumer, it was doomed to its limited body size, and its strength was too wide in confrontation with ALI and other strong enemies.

As the number one player in the live broadcast business, the scale of Taobao's live broadcast has reached the scale of 100 billion users. The number of live Taobao live users has increased by more than 100% over the same period last year, and it is expected to drive 500 billion pactions in 3 years.

The status of Taobao's live broadcast is inseparable from the sustained growth of Taobao's active users.

Alibaba's latest report shows that Taobao mobile monthly active users reached 699 million, an increase of 33 million over September 2018.

It can be said that only a quarter of Taobao's new users can "spike" almost all the active users of mogujie.com, and the extent of the future war can be imagined.

It seems that although mogujie.com's live broadcasting business can continue to grow in the next few years, it is not a permanent solution to take it as the core business of development.

Mogujie.com's revenue grew by more than 20% this quarter. The Commission is still the main source of revenue for mogujie.com, while marketing services revenue has dragged on.

Looking at the specific data: the mogujie.com Commission camp revenue in the quarter was 175 million 600 thousand yuan, an increase of 34.7% over the previous year, while other revenue was 60 million 200 thousand yuan, an increase of 104.6% over the same period last year, while the sales service revenue was 131 million 400 thousand yuan, down 9.6% from the 145 million 400 thousand yuan a year earlier.

In fact, this "two liters and drop" business income situation is not the first time for mogujie.com. In the past three years, its marketing services have been very inadequate.

Look at a set of data: in fiscal year 2017, mogujie.com marketing service revenue was 740 million yuan, while in fiscal year 2018, it dropped to 477 million yuan, down 35.5% from the same period last year.

In the 9 months ended in fiscal 2019, in December 31st, the revenue from marketing services was 324 million yuan, down 19% from the 400 million yuan in the same period in the 2018 fiscal year.

Mogujie.com officials also admitted this "cumbersome". As early as last year's prospectus, the company said that the company increased its focus on video live broadcasting and affected the number of marketing service customers on the platform.

In terms of revenue structure, most of mogujie.com's marketing service revenue and commission income come from merchants who have settled in.

In order to improve mogujie.com's "business environment" and consolidate the source of revenue, mogujie.com has taken new actions this year in optimizing the business environment.

At the January business conference, mogujie.com announced that it would expand the scope of service to businesses, help businesses to provide users with more comprehensive and practical commodity information, and accelerate the construction and formation of brand image.

Recently, mogujie.com has launched the new "quality management rules for shop signs". The first phase will take the lead in the supervision of 4-5 star businesses, so as to maintain the healthy order of the platform.

In December last year, mogujie.com was accompanied by a huge controversy over the dilution of old employee options. The net loss in the current quarter was 42 million 200 thousand yuan, narrowing by 73% compared with a net loss of 156 million 100 thousand yuan in the same period last year.

In the current quarter, net loss per share attributable to common shareholders was 0.16 yuan, a net loss of 4.03 yuan per ADS. This situation can not satisfy the majority of investors. Mogujie.com has a long way to the "fashionable destination".

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Next, mogujie.com will also start building a community with great efforts.

According to mogujie.com insiders told reporters in February 27th, mogujie.com issued internal letter that the first half of this year's work will focus on the establishment of the Darren community, the strategy is as follows:

1., we should initially complete the establishment of the Darren community: publish the community evaluation standard with grass planting force as the main indicator, develop a simple and easy-to-use productivity tool for the daring people, improve Studio and other service mechanisms, help people and fans.

Interaction.

2., concentrate on improving the content quality of the community: do solid work in matching, details, emotions, scenes, and so on, so as to truly win the content.

At the same time, our social media official account matrix should be restarted. We need to have values and fashion attitude to bring valuable content to consumers.

3. continue to improve the brand Library: in addition to enriching the number of brands and the information abundances of the brand home page, we should start introducing brand leaders, designers and other key figures to update the platform continuously, so that the brand can express its individuality freely.

The little red book, started from the community, originally focused on the field of beauty care. Now it has become a UGC platform for sharing the lifestyle of young people. It includes every aspect of lifestyle, such as sports, travel, home, clothing, hotels, restaurants, and so on.

A group of KOL and star's entry is driving the surge of users. The continuous flow of traffic provides a room for imagination for the realization of Xiaohong Book Mall.

However, Xiao Hong's book is also rather bumpy on the way to the electricity supplier. So far, it has not solved the problem of mutual conflict and perfect integration between the community and the electricity supplier.

In February 21st, Xiao Hong published a framework to adjust the internal letter, upgraded the original community electric business department to the "brand number" department, upgraded the "welfare agency" department, and formed a new CEO office at the technical side and functional side.

In addition, it is understood that Xiaohong book also cut off its own brand of "bright" business, this move is a direct explanation of the Xiaohong book on the electricity supplier plate attitude.

The importance of the electricity supplier is reduced, so it is still not the best choice for the community to realize the realisation of the electricity supplier.

In the future, Xiaohong book begins to re strengthen its community attributes and continue to grope ahead on commercialized road.

By contrast, mogujie.com's products are dwarfed.

Limited by its own positioning, mogujie.com mainly provides clothing, bags, women's shoes, beauty makeup and other products for fashion female consumers, and is limited to the field of dress matching. Later community development is more difficult.

Most of the mainstream posts in the community come from selected people, with strong media dissemination attributes and weak user participation in the community.

Mogujie.com has been wavering on the road of community and e-commerce.

As early as 2012, June expressed the need to use community power to reverse e-commerce.

At the beginning of its founding, mogujie.com positioned itself as a community based shopping platform, and used Sina micro-blog, QQ space, Tencent micro-blog and other open network platforms to obtain traffic in the early stage.

After being banned by Alibaba in 2013, mogujie.com began to build its own e-commerce platform.

In 2014, mogujie.com closed the community and became a vertical e-commerce platform, and launched its own brand MUA, claiming to be China's ZARA.

In early 2015, mogujie.com announced its return to social networking business by borrowing the net red economy.

When artificial intelligence was hot in 2017, June also suggested that "cloud and AI are the protection of the electronic business platform."

"As a fashion destination, we have an open attitude in where to buy. It is mainly guided by the convenience of consumers, while mogujie.com's main point is to tell consumers what the trend is, how to find their own style, and then broadcast it through live broadcast and community content. This is also the reason why we put the content of the community on the first screen and put the electricity supplier on the third screen."

June said in an interview at the end of 2018.

When the ideal is plump, when will mogujie.com break through the embarrassment of the original place?

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