In the past 2018, home furnishing companies have made adjustments in response to changes in the economic environment. Some companies are rushing to go public, hoping to complete IPOs before this wave of capital ebbs; some companies speed up investment and mergers and acquisitions, and look at opportunities to make a decisive dip; some companies are financing and building factories to increase production capacity. Other home furnishing companies are looking at the road of cross-border cooperation. They hope to form the strongest CP, realize the complementary advantages of both sides, and achieve the effect of 1+1>N.
In the following, we will summarize the most eye-catching strategic cooperation events in the home industry in 2018. As for which pairs will become the strongest CP in the future, we will give the time and market an answer.
Alibaba & Real Home
The first home cross-border cooperation in 2018 was the home of the company and the Internet giant Alibaba to move towards new retail.
In February 2018, the actual home acquired a total of 13 billion yuan of joint strategic investment from 16 financial institutions including Alibaba, Taikang Group and Sequoia Capital. Among them, Ali and its related investors invested 5.453 billion yuan. In addition to the injection of capital, in October, Alibaba and the House of Reality released a cooperation strategy to jointly create a new retail digital home store.
The strategic cooperation between Ali Real and Ali is intended to use the big data behind Ali to portray the offline behavior of consumers, more accurately push products for consumers, achieve conversion rate and optimize shopping experience. At the same time, it helps the home to improve efficiency in terms of payment and logistics. For the cooperation model, the actual home said that the two have set up a special new retail project team to connect, to carry out the digitization of the store and the digitization of the goods.
At present, the results of the cross-border "marriage" between the two companies have begun to appear. The first home of the family experience Mall opened in March 2018, covering children's paradise, restaurants, supermarkets, theaters, fitness and other one-stop shopping scenes. In addition, the home of the house is based on the Jinyuan store as a pilot to carry out the digital transformation of the store's smart stores, and to create 618 ideal life carnival season and double eleven carnival with Tmall, and at the same time sign a contract with Box Ma Xiansheng to provide store property support.
For the home of the family, the more important significance of this cooperation may be that Ali can help him complete the transformation from “big home†to “big consumptionâ€. Wang Linpeng, the chairman of the Real Estate Group, said before that the creation of a consumer ecosystem around the concept of a big family is the strategic core of the future home. Actually, the family hopes to build a new retail system that is integrated online and offline by 2022.
Netease & Orange Home
Netease strictly selects the Orange House, an e-commerce brand that targets the new middle-class lifestyle, and one is the Internet home improvement platform that provides middle-class families with light luxury home services. The cross-border cooperation between two similar companies has attracted much attention. The cooperation entered the new retail through the "e-commerce + Internet home improvement" model, becoming a new model of home cross-border cooperation.
The first "strictly selected HOME Experience Zone" for cooperation between the two parties landed at the Orange House. Netease strictly selects the advantages of big data to screen out the explosive shelves including fabric soft accessories, bedding products, kitchen utensils and other items, and concentrates on online display. Store customers can experience selected goods and services in the home scene and purchase all the products on the spot. . This form will increase the sales conversion rate, and will also better convey the quality of the products to the consumers and the light and luxurious home life atmosphere created by the Orange House. In addition, the cooperation between the two parties also includes joint launch of the soft-package product package to provide customers with customized soft-packing solutions.
This cooperation is the transformation of Orange House from home improvement company to home platform company. On May 21st, the Orange House released its "Orange Home X" product platform strategy for the first time at the conference. For the cooperation with Netease, Orange CEO Wang Rui said, “This is an important part of the Orange Home X platform strategy, but the Orange Home product platform strategy has just begun.â€
That is to say, in the future concept of Orange House, on the one hand, it will speed up independent research and development of products. On the other hand, as an open platform, Orange House will continue to introduce more home products, form a big home ecosystem, and share data. Cooperation with other brands including NetEase, including warehousing and distribution, internal and external traffic, etc., hopes to achieve online and offline resource integration and platform empowerment.
Jingdong & Qumei
The strategic cooperation between the e-commerce company Jingdong and the home brand Qumei began to build a home life experience museum equipped with “black technology†and big data.
On June 16th, Jingdong Qumei-Fashion Life Experience Hall, built by Jingdong and Qumei Home, was launched in Beijing. In this experience hall, JD.com invites cross-category brands to settle at 0 rentals, attracting consumers with more than 3,000 SKUs. At the same time, based on big data, Jingdong comprehensively analyzes consumer behaviors and matches with the products provided by Qumei to select products that match the consumers, so that every product displayed in the living hall has data support and ultimately improves. Offline conversion rate.
In addition, some black technologies are also used in Jingdong Qumei Fashion Life Experience Hall, including AI artificial intelligence, VR virtual reality, NFC electronic label technology, WIFI probes, smart cameras, etc., in order to simplify the consumer shopping process and monitor different areas of the store. The flow of passengers is transformed to make more efficient adjustments to future merchandise furnishings, functional partitions, and so on.
Technology, data, immersive shopping scenes, the first cooperation between Jingdong and Qumei achieved good results. In the following September, the flagship store of Qumei Jingdong's North Fifth Ring Road officially opened, becoming the second store of its strategic cooperation. This time, the store has once again upgraded in terms of consumer scenarios, marketing and technology applications. The application of technology in the new store is also deeper, and more than 20 “black technologies†have been applied, becoming a test field for exploring new retail models.
Qumei hopes that the cooperation with JD.com can leverage the Jingdong supply chain, especially the technological advantages, to realize its own digital transformation of retail sales, and empower the offline home retail scene to achieve complementary advantages.
Tencent & Red Star Macalline
Tencent and the home store leading brand Red Star Macalline officially reached a strategic cooperation, and jointly launched the IMP global home smart marketing platform.
The cooperation between Red Star Macalline and Tencent started in 2015. From the establishment of the Red Star Macalline WeChat subscription number, from the media matrix to the application of nine Tencent tools and seven digital marketing tools, Red Star Macalline has been focusing on digital transformation and marketing empowerment.
In this cooperation, both parties will release their own superior resources. Tencent will combine the three advantages of scenario traffic, high-quality IP and precise intelligent platform, and work together with Red Star Macalline to build IMP platform in terms of traffic, content and platform, and finally realize the home industry. The value chain integration has been reshaped to accelerate the digital transformation and upgrading of the home industry. Later, in the social scene, when people mention home decoration, the data in the background may be crawled, and after analyzing the potential household consumption demand, accurate product or store recommendation is made.
Not only is the strategic cooperation with Tencent, Red Star Macalline announced in early 2019 that the exclusive title of Beijing Satellite TV, a star decoration renovation program and a series of actions signed with the trendy media 2 billion cooperation agreement, are trying to create traffic and achieve traffic lines Transform, establish different channels and simultaneously drain to the line to form a closed loop of traffic. The management of Red Star Macalline once said that the launch of the IMP platform is a response in the current environment. In order to improve the conversion rate of internal merchants and passengers, businesses can achieve efficient sales here.
Millet & IKEA
The cooperation between Xiaomi and IKEA is a fusion of smart home products and IoT ecology.
In November 2018, at the Xiaomi AIOT Developers Conference, Xiaomi announced a global strategic cooperation with IKEA. IKEA's full range of intelligent lighting products will be connected to Xiaomi IoT, and support the voice control of Mijia APP and Xiaoai.
This cooperation is part of IKEA's 2018 strategic adjustment. After entering IKEA, IKEA has maintained double-digit sales growth with its fresh Nordic style, competitive price and good shopping experience. However, sales data for the past three years show that year-on-year sales growth has continued to decline to single digits (2016 to 2018 fiscal year sales growth was 19.4%, 14% and 9.3%, respectively). There are more similar style brands in the market, and the competition has increased the market share. On the other hand, IKEA has neglected the online layout and the research and development of smart homes in the past few years, and missed two rumors.
IKEA quickly realized and began to make adjustments. At the 2019 fiscal year conference, IKEA China announced that it has fully launched online business, and e-commerce services have covered 149 cities. In addition, IKEA is also accelerating the development of smart homes and actively collaborating with the global IoT platform. Recently, IKEA's smart shutters are available in Europe and support the HomeKit platform. From this point of view, for the leading Xiaomi in China's IoT field, the two companies will have more extensive cooperation in the future, especially in the smart home field.
Summarizing the five pairs of home cross-border CP, the internal logic of strategic cooperation has similarities. For home furnishing companies, more is the digital traffic capability brought by the technology giants. The home business has a stable commercial consumption entrance as an offline entity, and it is also a new traffic scenario that technology companies want to expand. In 2019, it is expected that these cross-border cooperation will continue to bear fruit, and retail innovation will enter a more substantive stage.
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