Where is the future of retail？April 24，At the "2017 New Online Business Marketing Conference"，IDG Capital Director 188bet sports betting app download Lou Jun shared his and IDG Capital’s investment philosophy，In his opinion，The future exists in these three places: "The first combination of offline and offline，It is model innovation，Because the combination improves customer acquisition efficiency、Operational efficiency，And supply chain technology transformation；The second is service consumption，It is the next big incremental market；The third is to create a new brand with perfect channels。”

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E-commerce is the same as the Internet before，It is not an industry，It is a way of thinking，Like an accelerator or amplifier throughout all industries。Forget about e-commerce I’m talking about，Forget about e-commerce thinking，Not the e-commerce itself。

After a group of PC e-commerce websites represented by Taobao were launched at the same time，There is a special noun to describe it，Call e-commerce。

We need to cut apart the definition to see its essence。At that time, the PC Internet was already a new channel to reach users，Information exchange can be carried out through channels，After that, Alipay became available，Beginning of cash flow interaction，Next, just send the goods through the logistics company，This is where physical retail began to rise，This is e-commerce。Back to the essence，Actually, he sells goods on the Internet。

Remember Mr. Ma in 2010、Said in 2011，E-commerce will be an obsolete word in five years。Looking at it now, it is indeed，So I’m worried that people still think it’s about selling goods on the Internet，Or on a mobile device，For example, an APP，A WeChat ID, etc.。

This kind of thinking has been solidified for 188bet online sports betting ten years。Basically everyone has a mobile phone now，And everyone has WeChat。If the Internet is simply used as a channel，It will no longer have an incremental market。Everyone has seen it，Traffic is getting more expensive，Traffic bonus disappears，Because everyone has installed everything (APP) that should be installed，We have all the WeChat IDs we need，Bought everything that needs to be bought。Under this current situation，Two companies that also engage in e-commerce，If I sell one more apple, he will sell one less apple，Then there must be a price war，The cost of grabbing users is getting higher and higher。

So I suggest everyone not to fall into fixed thinking，Because this is no longer a so-called trend、Air outlet，Things to sell、Needs that should be met，I am very satisfied now。Then it’s time for us to start a business again from scratch。

So where is the future？IDG Capital has also been doing research，We originally had an internal e-commerce team，Renamed 2C Consumer Group last year。Because we ourselves have also discovered that thinking cannot be solidified，Always selling goods，Selling cosmetics、Clothes、Accessories，Sell more apples、Pear，It seems I can never get out of this frame。

So we did the underlying research，We believe that the future lies in three places: first, combining online and offline to innovate models；The second is the future incremental market in service consumption；The third is to create new brands with the help of supply chain advantages。If you grasp these three points，There will be some bonus periods or so-called entrepreneurial opportunities in the future，That is, business opportunities。

Model innovation

The first model innovation。Give an example。IDG Capital invested in a project two years ago to create a good product，Now called Pinduoduo。It is actually a typical model innovation，Selling fruit when I first started，There are more things for sale now，Because with the platform model, more and more suppliers can be grafted。But it essentially takes advantage of some communication attributes on the mobile Internet，This communication attribute can reduce the cost of acquiring customers and the cost of obtaining orders to the extreme，This method of playing is much more efficient than the previous model of simply playing with 188bet online sports betting traffic。At the same time, it uses price sensitivity to trigger users’ group-buying behavior，Also consistent with the attributes of the target group in terms of human nature。

PC traffic bonus、WeChat bonus is gone，At this time we will see that there are many places or scenes offline，The cost of acquiring customers and orders is much cheaper than today’s Internet，Can we put the previous version on PC、Operating users on mobile、Operating products，The entire trading operation routines and methods are also used offline？

Last year Mr. Ma proposed the concept of new retail，From our interpretation，The essence of new retail is to use mobile Internet thinking as an underlying infrastructure to upgrade an industry。Early this year，I summarized this phenomenon in one sentence，It’s called an industry without tradition，Only traditional thinking。

What does it mean to use the underlying infrastructure of the mobile Internet or use mobile Internet thinking to upgrade an industry？First，Previous offline channels、Scene，For example, Hangzhou Tower，Its membership card except points，Push message，Except discount，Seems to have no other effect。But in terms of membership operations，E-commerce companies have gone to the extreme，Why don’t all offline players know how to play？Second，Who are the people coming in every day，Come in and go shopping，People who open shopping malls don’t know。Third，Must swipe card、Cash payment？Alipay and WeChat are already very popular。

After you have thought through all the above thoughts，A very wonderful phenomenon will occur: if you already know how to use the Internet to acquire customers，You don’t have to open this store in a place with a lot of traffic。

The person who reminded me of this phenomenon was Han Wei, a buddy from Alibaba two years ago，He did a fitness program "LeKe Fitness"，We IDG Capital invested in him。Lex is a typical representative that meets the definition of new retail，At that time we didn’t know there was a word called new retail，I only know this model is to acquire customers online，Offline operations，Suppress the rent to the extreme，The price has also come down，So Leke Fitness is much cheaper than many gyms，99 yuan a month in Hangzhou，Enjoy exercise classes for free、24 hours gym。

In the process of consumption upgrade，There used to be a lot of luxury goods，It should be made into a consumer product now。Fitness used to be a luxury item，Now it has become a consumer product，Actually, there are many more categories like this。

Also，Combine online and offline to consider one thing，To do some model innovation，Improve operational efficiency。Because offline and online content management have something in common，It used to be the time to buy traffic，An excellent e-commerce conversion rate is 6%。But since Weibo、WeChat，We found that the content should be accurate，Improve the quality of content，Not just for attracting traffic，It will also bring crowd focus，Make crowd portraits more accurate，You can enter the transaction at this time，The so-called content e-commerce，The conversion rate instantly becomes 10%、20%。

In fact, there are many offline scenarios that can play a similar role today，Including geographical location and business district structure，The crowd has been divided into groups。At this time, if you use some good mobile Internet thinking to improve this efficiency，You will find many new business opportunities。

Service consumption

Second，From the perspective of demand，We have done statistical research，The main users of consumption upgrade are mainly middle-class families and the second generation of middle-class families，The first generation born in the 60s，The second generation born in the 1980s。As their spending power becomes stronger and stronger，They may not spend a higher proportion of money on better、More expensive、More fashionable categories。For example，A typical female user，She buys 50 clothes a year，As her income increases in the second year, she will not buy 100 pieces of clothing，It’s just that these 50 clothes are better、More expensive。

We have done research，The annual expenditure of a family in China today，Nearly 65% ​​is physical consumption，That is, visible、Products that you can touch，For example, refrigerator、Clothes, etc.；35% is service consumption，Includes travel、Education、Insurance、Housekeeping、Nanny、Confinement nanny，Even including medical treatment；The United States and Japan are the other way around，Over 65% is 188bet app service consumption，The remainder is for physical consumption。There is also an absolute number，Chinese families spend about five to six thousand US dollars a year，Spending more than 20,000 US dollars in the United States。So with the increase in absolute numbers，The change in proportion should be a bigger outlet in the future。If we focus on the outlet, we should focus on the ratio，Perhaps more than 30% of China’s next growth will be in service consumption。

Let me give you another specific example，You can’t find a good confinement nanny in China now if you have money、Good aunt，After the child is older，Where to go for training classes...everything is a pain point。The entire service industry has not solved these problems yet，And the demand in this area is getting bigger and bigger。

New brand

The third opportunity is a new brand。No matter online or offline today，Instead of adding new channels，The next thing everyone needs to do is to increase the efficiency of the channel，Instead of adding new channels。

We found that China is particularly lacking in good content，It is the so-called good brand。There are many categories，Whether it’s lingerie or sportswear，Even food，Polarization is particularly serious，It’s very cheap，Exceptionally low quality，Or the price is extremely high。For example, we found that the women’s underwear market looks like this，High-quality ones can easily cost two to three thousand yuan。But after looking at the actual cost，It can be priced at 200~500 yuan，But there are really no high-quality categories in this price range in China。

Not in the future？There will definitely be，Basically all foundries in the world are in China。Just like a mobile phone，Foreign mobile phone manufacturers are all in China，Shenzhen，Then why don’t we just use brands made in China？This can be done for many consumer products in the future，There are many opportunities in this area。

We studied it for about half a year last year，Think through these opportunities。Let’s take the example of the housekeeping industry，This industry has a market of 1.6 trillion in China，Only 1% can be found here，The specific number can be calculated，So you can think about it from this aspect。

To summarize，The first combination of offline and offline，It is model innovation，Because the combination improves customer acquisition efficiency、Operational efficiency，And supply chain technology transformation。The second is service consumption，It is the 188bet Online Sports Betting and Casino next big incremental market。The third is to create a new brand with perfect channels。

 *Source of this article: New Retail Think Tank, original title: "Model innovation、Service consumption、New brand，They will be the three major opportunities for entrepreneurship in the future? 》

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