When Milner called Xiao Qi to explain that Titter's shareholding was basically settled, Xiao Qi was just thinking about something that Milner should do.≧,
This is what Xiao Qi had thought about before, asking Milner to help Xiao Qi recruit people to set up a company.
Because of the rigidity of the Japanese, the Japanese market can only accommodate one Rakuten Mall. Even if Amazon finally entered the market with a strong force, it could not shake the status of Rakuten Mall at all.
Also because of Americans' tolerant mentality and willingness to try new things, the United States not only has Amazon, but also eBay, and many small and medium-sized shopping websites that compete with them.
zulily is such a website.
Speaking of Zulily, the world's largest group purchasing website for maternal and infant products, of course many Chinese people don't know about it, but if we talk about the shopping model they created, then many people can understand it.
Every morning at 6 a.m., zulily will display 100 new events and 9,000 new products to users on its website and mobile application pages. Sometimes there are millions of items in total, and sometimes there are hundreds of thousands of items.
Normally, these items are completely sold out within 15 minutes.
The prices of these products are cheaper than those in ordinary supermarkets, but not too cheap.
The reason why it sold out so quickly is that it has a very complete range, and it is very organized to let you know what mothers need when you and your children are at these stages, and which products will be more suitable together.
It should be suitable so that mothers can easily buy all the things at once.
Usually after the day's products are sold out, zulily will send tens of millions of various emails to notify users of the products that will be on sale at 6 a.m. the next day.
Speaking of this, does it sound familiar to you?
This is the “flash sale” model that will be very popular in the next few years!
Vipshop, Rebate.com, BabyTree...etc. are basically this model, and they have all achieved considerable success.
Zulily is naturally the most successful one.
From the establishment and launch in November 2009 to the listing in 2013, the market value has skyrocketed, and it soon exceeded 6 billion U.S. dollars at the end of the year. Although Xiao Qi did not see the situation after that in his previous life, it is estimated to have reached 7 billion U.S. dollars.
The possibility is high.
Being able to develop to such an extent under the siege of Amazon, eBay, Old Navy and other famous online shopping malls, one can only imagine how outstanding Zulily is.
In the university where Xiao Qi studied in his previous life, there were several female teachers who were loyal fans of Zulily. Every time they took a lunch break, they would talk about Zulily topics, including Zulily’s unique characteristics, various advantages, and various
Convenience and more.
As a laboratory assistant, Xiao Qi could naturally hear it, and over time he also had a deep impression on Zulily.
In fact, the operation method of zulily is very simple. In his previous life, Xiao Qi thought it was very powerful. Now that he has been reincarnated and founded the b2 website, he feels that zulily can develop so well simply because it is in the United States.
The laziness, casualness and tolerance of Americans' attitude towards daily life are the reason for Zulily's glory. If Zulily were placed in China, Xiaoyao Mall would kill it in minutes.
Zulily is still very unique. In addition to the flash sale model that focuses on limited-time sales, it does not sell all categories of Gaodaquan. It only sells three categories: mother, baby and infants, which improves its focus and makes it easier to attract customers.
A specific buying group.
In addition, zulily also supports many small brands. These small brands not only have novel designs, but are also not as expensive as big brands, making them very suitable for mothers who don’t have much money. They can even provide special products for these mothers and babies according to the needs of customers.
Designed to meet the needs of young children, it meets many personalized needs, so you can only buy these novelties at zulily.
But its weakness is also very fatal.
First of all, zulily wants to save money and avoid inventory. It waits until consumers have snapped up the group purchase products on the page, then places the order to the manufacturer, and then delivers it to the customers after purchasing, testing, packaging, logistics and other procedures.
.
Generally speaking, it is normal for the goods to arrive within one week. Don't be surprised if it is slightly delayed for a month.
In China, all online shoppers have been attracted by Ma Yun's Taobao.com, which takes 3-4 days to arrive, and then Xiao Qi's Xiaoyao Mall, which basically delivers goods within 24 hours.
It will take no more than 2 days to reach surrounding districts and counties.
You said that Chinese consumers would have to wait for a week or a month to buy a product. Can they have the patience?
Do you think group purchase products are like Rebus’ Xiaomi mobile phones? How can they be so attractive that mothers wait for so long?
The long delivery cycle is a major weakness, but there is another weakness that makes people complain even more.
That is, Zulily does not support returns or exchanges.
Yes.
You read that right.
As long as you purchase a product from zulily, if you are not satisfied with it after buying it, you are solely responsible for it, even if there is a quality problem.
Although most of the time, zulily's products are excellent, it is inevitable that there will be times when you encounter defective products, or when you buy the wrong size.
However, returns and exchanges are not allowed in all cases.
Why?
Because zulily purchases according to everyone's order quantity, and there is no extra item or package, how can I return or exchange it for you?
So, think about it.
With these two major shortcomings, Zulily can only continue to develop in the United States.
If they in the previous life had not made positive corrections since 2014, I am afraid that the good times would not last long!
Xiao Qi knows the advantages and disadvantages of Zulily, so when he prepares to be Zulily in this life, he will of course carry forward the advantages and avoid the disadvantages.
Just like his old habit in the past, when Xiao Qi established Zulily in this life, he would also choose this name, because at this time, Zulily has not been established yet, and of course the name has not been thought of yet!
Xiao Qi explained Zulily's idea to Milner clearly, and also corrected the unreasonable parts.
First of all, zulily will build its own logistics warehouses in major cities in the United States. Although they will not be as dense as Amazon, the shelves must be set up at the beginning.
It doesn't matter if it's smaller, but important cities must have such logistics warehouses.
Then regarding the purchase issue, it is the same as Xiaoyao Mall. After buying, it is sold to customers, and some inventory is contacted with the manufacturer for backup. If there is a return or exchange within the specified time, then the inventory from the manufacturer can be
It comes in handy, and conversely, after this period of time, the manufacturer's inventory can be disposed of by itself.
This reduces your own troubles, and you don't have to drag around the manufacturer's products, which brings convenience to everyone.
As long as these two items are modified, Zulily will basically be a smaller version of Amazon, except that it has fewer products, greater discounts, and attracts users with more shopping stickiness.
Milner originally called Xiao Qi to announce the good news, but Xiao Qi unexpectedly gave him another surprise.
As Amazon is the number one B2 website in the world today, Milner has naturally done in-depth research. Now Xiao Qi suddenly launched a more focused Zulily, which in turn gave Milner a big surprise.
Milner is a true investment genius. After a little thought, he realized how great the development prospects of Zulily are.
Although the purchasing model Xiao Qi mentioned has appeared before, it is just a means of promotion for large companies and has not formed a large-scale and sustainable operation at all.
If it is done well, once the new mode is opened, it will definitely add a powerful new force to the b2 mall.
Amazon is now worth more than 30 billion U.S. dollars. Even if Zulily only achieves one-third of its market value, it is still worth about 10 billion U.S. dollars, making it a behemoth in the market segment.
Even if Zulily is only one-sixth of Amazon, with a market capitalization of US$5 billion, it can still develop steadily and be regarded as a good asset.
I really don’t know where Xiao Qi came up with so many wonderful ideas. Not only did he come up with this idea of a flash sale of maternal and infant products, but he also thought about the details so clearly. It’s like Xiao Qi has been doing this for many years.
Business is the same.
I think companies such as Airbnb and Uber launched by Xiao Qi before have the same extremely detailed planning methods!
How can we prevent them from developing by leaps and bounds when they have been on the right path from the beginning?
While sighing, Milner readily accepted Xiao Qi's commission to found a company.
He didn't know that Xiao Qi had already made the most detailed patent registration for Zulily's founding model. If anyone dared to start a company in this way, Xiao Qi would let Mario Law Firm sue them and bankrupt them.
Milner is a very trustworthy person, otherwise not so many people would have trusted him in his previous life.
So he just started to think seriously about which person he knew well could find relevant professionals and create zulily as soon as possible.
Just like Hoffman, Xiao Qi used a US$1 billion founding fund and gave Milner 3% of the shares. Not only did he need to find relevant talents to start Zulily, he also needed his efforts in various future supervisions, and there were 5
% is given to the founding team. Only with shares can they regard the company as their own business and actively develop it.
People who are too stingy will not achieve great things!
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