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2020 smart Retail Research Report From Love Analysis & Weimeng

The following is the 2020 smart Retail Research Report From Love Analysis & Weimeng recommended by recordtrend.com. And this article belongs to the classification: Consumer research, research report.

In 2020, COVID-19 has greatly changed the way of life, consumption and office work. Takeaway, online shopping, online education, online diagnosis and telecommuting and other non-contact modes have developed rapidly. In the face of the big test of the epidemic situation, retail enterprises speed up online, and “help themselves” by means of small programs, communities, live e-commerce, etc. Meanwhile, in order to stimulate consumption and boost the economy, more than 30 billion yuan of consumption vouchers have been issued nationwide. The issuance and use of electronic consumption vouchers further promote the digital transformation of the retail industry.

In the context of retail enterprises embracing digitalization, AIAN and Weimeng Research Institute jointly released the 2020 smart Retail Industry Research Report (hereinafter referred to as the report). The key points of the report are as follows:

1. Wechat app has become an important tool for retailers’ digital transformation;

2. For businesses, the mode of public-private interaction will become the focus of smart retail operation;

3. Nearly 40% of businesses are facing the situation of insufficient smart retail budget, and nearly half of businesses are facing the dilemma of general technical level. Therefore, professional and cost-effective SaaS has become the first choice for businesses.

01. Small program becomes an important tool for business Digitalization

According to the data of the National Bureau of statistics, from 2011 to 2019, the growth rate of China’s retail industry will drop from 17% to 8%, the industry growth will be sluggish, and the epidemic situation will be more serious. From January to October 2020, the total retail sales of social consumer goods will drop by 5.9% year on year.

At the same time, with the improvement of Internet penetration and the change of consumer habits, the trend of online consumption continues to deepen, and the proportion of online retail sales of physical goods continues to rise, reaching 20.7% in 2019 and 24.3% during the epidemic period.

With the trend of online consumption, retail enterprises need to strengthen the online layout and better reach customers through digital means. The epidemic situation has accelerated this process. It has become the consensus of retail enterprises to realize the digital transformation through the combination of online and offline mode. According to the questionnaire survey, 82.5% of the businesses gave more than 4 points of evaluation on the development prospect of smart retail. Smart retail was generally recognized, and 84% of the businesses opened online channels in physical retail, which confirmed this fact.

According to the report, as the application of smart retail of head brands becomes more and more mature, more and more retail enterprises will join the ranks of smart retail, and the technical transformation and digital transformation of retail industry will be extended in a wider range and deeper fields, accelerating the digital upgrading of retail industry.

In the exploration of digital upgrading, wechat, as a huge user group, is an indispensable online channel for businesses. In 2020, wechat will open small program live broadcast, launch wechat small store, create video number, further improve the business capability matrix with wechat payment and small program as the core, and help businesses to better realize digital operation, which has become an important tool for retail businesses’ digital operation.

According to the questionnaire survey, in the wechat business ecosystem, in addition to wechat payment, small programs are the most widely used business tools for businesses, and have become the normal deployment of retail businesses. Tencent official data show that in 2020, the average annual dau of small programs will exceed 400 million, and the annual cumulative Gmv of physical commodity transactions will increase by 154% year on year.

Affected by the epidemic, the live broadcasting of goods in 2020 shows an explosive growth. In this boom, small program live broadcasting has become the choice of many businesses. According to the questionnaire survey, in the application of small program function, the live broadcast ranked first, which is the most used small program function for businesses, and has contributed a good performance increment for businesses. For example, in the small program live broadcast activity of “ten thousand people competing for the factory”, Mengjie home textile’s 4-hour live broadcast sales exceeded 25 million yuan; in the live broadcast activity of lebei member Carnival launched by Lenovo on the small program, the accumulated sales on that day reached 120 million yuan, and the number of viewers exceeded 4.4 million.

According to the report, live delivery and short video marketing are important means for businesses to operate private domain traffic. They attract customers through video, change customers from public domain traffic resources to private domain traffic resources, and sell goods efficiently through refined operation. With the change of consumers’ access to content, the penetration of live broadcast with goods and short video marketing will be further deepened, and it will become the standard configuration of smart operation for businesses in the future.

02. Private domain traffic operation is the focus of performance improvement

The purpose of smart retail is to promote performance growth, and whether it can bring substantial sales promotion is an important basis to evaluate the effectiveness of smart retail. According to the questionnaire survey, the main purpose of businesses applying smart retail is to expand sales channels, improve store operation and management efficiency, enhance shopping guide sales force, and build private domain traffic. Nearly half of the businesses hope to expand new sales channels and increase sales volume by upgrading smart retail; more than 40% of the businesses take improving shopping guide sales force as the main goal.

As a key contact between retailers and consumers, shopping guide plays an important role in expanding, maintaining and operating customers, and plays a key role in the smart operation of retailers. Smart retail empowers shopping guides through small programs, communities, enterprise wechat and other tools to help them improve sales performance. According to Weimeng’s own data, among the merchants who use the smart retail shopping guide function, the proportion of the order performance belonging to the shopping guide accounts for more than 50% of the total Gmv, among which the shopping guide function is most widely used in clothing, shoes and bags, furniture and home building materials, digital home appliances, beauty, mother, child and other industries.

In the stock age, consumer operation is the key to the performance growth of retail enterprises, and consumer operation needs to be built on the basis of comprehensive consumer insight. Therefore, private domain traffic has become the focus of smart operation. The operation value of private domain traffic is mainly reflected in optimizing the operation effect by monitoring and adjusting the marketing strategy, improving the single customer purchase value and driving the sales growth.

According to the self owned data of Weimeng, the proportion of members in retail app shopping users has reached 60%, becoming the main force of shopping, and the effect of private domain traffic operation has initially appeared.

Online and offline integration of smart retail solutions has become an important means to improve the efficiency of store operation and management. Smart retail improves the customer flow for offline stores through online and offline integration. According to the self owned data of Weimeng, 30% of the online flow can be effectively guided to offline stores through small program order and store self pick-up, which alleviates the problem of store customer acquisition to a certain extent.

Offline stores embrace the global scene, get through the online and offline private domain data, and realize refined operation and transformation with the help of offline shopping guide resources, which is an important means for retail enterprises to cope with the pressure of performance recovery of offline traditional stores. For example, Lin Qingxuan, a beauty brand, uses the operation driving mode of shopping guide to encourage the enterprise wechat to precipitate its members. At the same time, it uses the combination of “online purchase + store self pick-up” to attract customers into the store, thus forming a closed-loop operation of private traffic, which includes getting customers from the store, binding the enterprise micro, regular access and store service.

According to the report, on the one hand, brand retail enterprises need to make use of online and offline stores and shopping guide resources to achieve accurate access and efficient transformation of fans in private domain based on Omni channel contacts; on the other hand, brand retail enterprises need to find new channels to obtain fans’ traffic and constantly expand brand private domain traffic pool. Therefore, the public-private domain linkage mode will become the focus of business intelligence upgrading.

03. SaaS service provider is the first choice for digital upgrade

Digital transformation is not the transformation of a certain link, but the comprehensive digitalization of operation, process and organization. In the future, enterprises will move towards global digital operation, that is to provide Omni channel services for consumers, build digital technology and data platform, strengthen digital operation and management ability, and support enterprises to realize full link intelligent operation. Therefore, the digital transformation of enterprise technology, capital put forward high requirements. At the same time, the digital transformation will promote the comprehensive transformation of the management concept, and put forward higher requirements for the management and employees.

According to the questionnaire survey, the main problems encountered in the transformation of smart retail are technology, personnel and capital. 50% of businesses’ original systems can not support the development of smart retail business; more than 40% of enterprise management do not pay enough attention to smart retail, and the lack of enthusiasm of front-line staff is also the main obstacle; 37% of businesses are not investing enough in smart retail. According to the questionnaire survey, only 35% of the merchants invest more than 200000 yuan in smart retail, and 47% of the merchants invest less than 100000 yuan.

In the case of insufficient capital investment and general technical ability, it is more difficult for businesses to build their own systems, and they prefer to rely on the power of third-party smart retail service providers. According to the questionnaire survey, 67.4% of the respondents prefer to choose the SaaS solution with high performance price ratio in the selection of smart retail solutions, mainly because it can provide professional technical and operational services, which is simple and easy to use, saves costs, and reduces the threshold of digital upgrading.

From the perspective of digital process, retail digitization is still in the initial stage of development, and the digitization of traditional stores is in the introduction stage. According to the report, the digital upgrading of the retail industry is a long-term and systematic ecological project, which needs the co construction of the industry to help retail enterprises improve their digital capabilities. Therefore, service providers who can break through technical barriers, open up front, middle and back office digital applications, provide integrated solutions, and help retail enterprises obtain substantial business growth will be favored. Weimeng, a third-party SaaS service provider, is one of the best among them. With the small app mall as the landing tool, Weimeng provides smart retail solutions for businesses from traffic acquisition to sales conversion and then to private domain traffic operation. It has helped Mengjie, linqingxuan, Lenovo, chanel and other large retail enterprises to realize digital transformation and upgrading, and set a solid foundation for the transformation of the retail industry to smart retail The benchmark of practice.

According to the report, the future retail industry will enter the stage of full link digitalization, and enterprises need to carry out comprehensive digitalization through the construction of digital marketing, digital system and digital operation system. With the continuous improvement of business functions of small programs and the assistance of other business tools of wechat ecology, small programs are ideal tools for businesses in customer acquisition and refined operation of private domain, and will become the infrastructure for businesses to practice smart retail in the full link digital stage in the future.

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