New competitive landscape and disruption

Reporter：Ctrip and Qunar merged，Have there been any changes 188bet online live casino opportunities left for Tongcheng to develop？

Wu Zhixiang：Ctrip and Qunar merged，There are challenges for us，There are also opportunities。The core challenge is that the era of standardized tourism products (hereinafter referred to as standard products) is over，Today, Ctrip and Qunar’s air ticket market share ranks first，Tongcheng may be the second，Who wants to be the first now、No chance for second place，Hotel、The same is true for train tickets。The core of competition 188bet online live casino era of standard products is traffic，Traffic is the strong one always strong，Tongcheng is 188bet online live casino era of standard products，At the hotel、Air tickets、Inside the train ticket，In second or third place。

We see a greater opportunity in non-standard products，Like outbound 188bet online live casino, it is a non-standard product，Non-standard product consumption decision-making cycle is long。Consumers stay on our outbound 188bet online live casino page for a very long time，Very many repeated visits，He needs a long decision-making cycle，Even discuss it with your family。The decisive factor in the era of non-standard products is not traffic，Not exactly a brand，Recommended by a friend、Face-to-face communication is more important。The competition for non-standard products has just begun，Who can become the leader in this market space，Nothing is final yet，We are confident to be leaders。

Reporter: From the second half of last year to now，There are many consolidations in Internet companies，Is 188bet online live casino a good time for OTA integration now？What is the basis for your judgment？

Wu Zhixiang: Should Tuniu and Tongcheng integrate?？My judgment logic is as follows: first，Why two companies integrated？What is the purpose of integration？From a capital perspective，After integration, capital money will be spent more efficiently，Money can breed more money，This is the nature of capital。Didi、Integrated quickly，There is no competition 188bet online live casino taxi industry，Don’t risk your life to subsidize，Whether you make money or not，The bleeding is less anyway。The same goes for Meituan and Dianping，No one competes in group buying。Qunar and Ctrip merged，There is basically no competition in terms of hotels and air tickets，This is the prerequisite for capital integration。The purpose of integration is to no longer engage in vicious competition，Improve profitability、Reduce invalid investment。

We are on a leisure trip with Tuniu on the frontal battlefield，Suppose we merged with Tuniu，Is there no competition 188bet online live casino field of outbound tourism?？No。

First，From the perspective of revenue ratio。Both of our market shares are relatively low，The total market share will not exceed 5%。The operating income of national 188bet online live casino agencies in 2014 exceeded the 400 billion mark，Our GMV in 2015 was 25 billion，Financial income 6 billion，Together with Tuniu, the reported revenue is around 15 billion，15 billion to 400 billion，How big is it?？From the current point of view，Integration cannot bring stability to the market order，So I think from a capital perspective，Weak integration motivation。

Second，From a team level，Why integration？One team feels that this battle cannot be fought，Burning money does not bring added value to the company，One party may abandon the family view，Abandon the founder complex，Since your company does better than mine，I will leave the resources to you。Many business leaders will have this awareness 188bet online live casino future，Unthinkable a year ago。

Especially in 2014，Every merger is an education for Chinese entrepreneurs - if your efficiency in spending money is not as good as others，The entire layout is not as good as others，188bet online live casino should admit defeat，Properly admitting defeat allows capital to have a more effective way to release capital，Let the team run on a more correct track，The only thing that needs to be sacrificed is the founder’s complex。

We and Tuniu、Ctrip is looking for its own methods in the field of leisure 188bet online live casino，Every team thinks its method is correct。Tuniu’s style of play has merit，Brand+Special Line。Ctrip’s strategy should be called platform + efficiency。The strategy we found is e-commerce + Facebook，Who will win in the end，It takes time to confirm。

Tongcheng often asks "Why do people go out to 188bet online live casino?"，People will get 188bet online live casino inspiration from several channels when traveling: media，We have a self-made IP strategy；People themselves are a medium connecting non-standard products，We have 188bet online live casino consultants，Combining human sharing with big data at 188bet online live casino consultants。

Wu Zhixiang thinks，The greater opportunity for the tourism industry 188bet online live casino future is 188bet online live casino non-standard product market

Reporter: Tongcheng is the boss 188bet online live casino ticket business，Overall service exceeds 30 million people，The ARPU value per capita is relatively low，Now we need to move the entire brand to non-standard products，Go from low-end to high-end，Generally difficult，Is there any way？

Wu Zhixiang:On the one hand, it is moderate platform investment，The most important thing is people。When a consumer chooses to 188bet online live casino freely around the area，We will tell him，For better service，We will provide you with an exclusive 188bet online live casino consultant，From now on, your entire family and circle can find a dedicated 188bet online live casino consultant for any 188bet online live casino needs。Consumers don’t have to search all over the world for guides on websites，Just give your requirements to the consultant，We provide one-stop service，Use consultants to realize the transformation of consumers from "high frequency and low price" to "high price and low frequency"。

Reporter: Some people 188bet online live casino industry have said before that the unit price for outbound tourists is high，Not suitable for burning money，Can it be understood that the industry should not burn money 188bet online live casino future？Tongcheng for service quality assurance，The mode is quite heavy，How to consider gross profit？

Wu Zhixiang:High customer unit price of 5,000 yuan，188bet online live casino is a low frequency service。To gain market share，Rely on low price，Give money to customers，Useless。Do you want to go to Europe this year，I sell six thousand，A company sells four thousand，The consumer went with him，You are thinking that 188bet online live casino is very possible that he has money to burn，Posted one thousand yuan，Very proud，Go and have fun，The overall service is just okay，When you go again next year, you must say that he paid a thousand yuan last year，Looking for him again this year，Let him earn 188bet online live casino back this year，Go over and take a look，His price becomes 6,000 or 5,500，You won’t choose him。Too low frequency，Unable to form a habit。

Why are taxis subsidized？Ten yuan subsidy，Let you make it a habit，Call every day。I got used to waving my hands to hail a taxi from the beginning，To hail a taxi via mobile phone，Develop the habit of hailing a taxi on your mobile phone。A subsidy of 1,000 yuan per person for outbound 188bet online live casino，It’s bleeding for the company，But there is no user dependence and loyalty，Get low prices on outbound 188bet online live casino，Very unrealistic。

Reporter: Didi has caused such a big disruption to the traditional taxi industry，Even caused taxi drivers to cause trouble，Why offline 188bet online live casino agencies are still very good in the tourism industry，Online gameplay does not have a similar impact？

Wu Zhixiang:I think the core point is the non-standard product field of outbound tourism，All online 188bet online live casino companies today have not found the core、Methods to take full advantage of online advantages。

The brand existed ten years ago，It’s just because we are called an Internet company for online 188bet online live casino，With capital support，rich，I just smashed a little more than others，This is not our original creation。But Didi、Quick、Uber，The sharing model they found is compared with traditional taxis，The greatest advantage of the Internet is originality。

No taxi company has ever made a software before，Connect every consumer with the car 188bet online live casino most convenient way；No taxi company has said that it will send out taxi requests，Let the driver grab the order。

Online 188bet online live casino companies in outbound 188bet online live casino，Except Tongcheng mentioned e-commerce + Facebook last year，All the methods traditional 188bet online live casino agencies have thought of。

Ten years ago, a 188bet online live casino agency said that it was only NT to visit Hong Kong，Banned by the National Tourism Administration。Now everyone starts to reflect，To do quality，Tongcheng begins to launch “Extraordinary Series”，CITS、China 188bet online live casino Service、Kang Hui must have used it too。

For example, advertising，Offline 188bet online live casino agencies used it ten years ago，It’s just that every advertisement is smashed，Also guaranteed a net profit of 10 million，Advertise with ease。Online 188bet online live casino companies want to burn 1 billion this year，Smash it in first and then talk，It is not a revolution that relies on technology and business models。Just because Internet companies have money、Willful。

So，Offline 188bet online live casino agencies have a lot to be respected for，There is a lot worth learning，Who will be successful in the future，Depends on who can truly achieve online and offline integration，Can we truly learn from each other。Tongcheng acquires Nantong Brilliant、Shanghai Meichen and others have found ways to help offline 188bet online live casino agencies integrate with online，All M&A companies have achieved year-on-year growth of more than 100%，This method will be replicated more this year。

Reporter: Fighting with competitors for so many years，188bet online live casino suddenly realize that 188bet online live casino haven’t really taken advantage of your online advantages yet，Before that, I did the "one-yuan ticket" on the same journey、“Hundreds of billions of red envelopes” etc.，How to evaluate？

Wu Zhixiang:One yuan ticket has some innovations，No one has done 188bet online live casino before。The logic is that 188bet online live casino is best to do scenic spots on the same journey，Attractions have a characteristic - the cost of the attraction is not directly proportional to the number of people entering the attraction，The marginal cost of the attraction is zero，188bet online live casino doesn’t matter if you add one more person。

This is what we found。For example, an attraction，Usually a thousand people came in every day，One hundred yuan per ticket，The attraction made 100,000 yuan，I feel good。I will give 100,000 yuan to the attraction first，The attractions are also very fun，Via Internet，Let 100,000 people in，The cost per person is one dollar，Practical。No one has dared to do this before，I did 188bet online live casino，188bet online live casino has greatly improved the penetration rate of Tongcheng on the wireless side。

But this is the innovation of standard products when they compete for wireless users，It has little to do with competition from non-standard products，Who dares to say that I ask people all over the country to play Japan for one dollar？The experience you will definitely get is exactly the same as if you spend thousands of dollars to visit Japan？No one dares to say。Tuniu said last year that it cost only one yuan to 188bet online live casino abroad，It’s a lottery。The cost for each person who goes is subsidized by living expenses，The cost per person is 2,800 yuan，One hundred people is 280,000，If you lose one point, the airline will not pay attention to you。

The “100 Billion Red Envelopes” campaign launched by Tongcheng did not meet expectations。I started to be anxious since April last year，Red envelope or traffic method，188bet online live casino’s not like doing SEM (search engine marketing) which suddenly became popular。The investment of 100 billion red envelopes is almost the same as the one yuan ticket，One yuan ticket is enough，One hundred billion red envelopes only smoked for a long time，The fire has not started yet。Not many people come to receive red envelopes and spend money with red envelopes，Only about 20% of the expected value，More painful。

Reporter: The previous Internet social dividends on PC，188bet online live casino another wave of bonuses after entering the mobile terminal，How does the tourism industry view these dividends now？

Wu Zhixiang:In the field of standardized products，Internet dividends still exist，The determining factor is traffic，For example, hotel、Air tickets and train tickets。In the field of non-standard products，I think the dividends of the Internet are not particularly important。In the era of non-standard products，Online 188bet online live casino must find something subversive、Creative approach，Carry out disruptive innovation。

Give a more complex example of non-standard products，For example, immigration，Does the mobile Internet have an impact on the immigration industry?？Basically no impact，188bet online live casino is rare to hear that the immigration industry has been subverted by the Internet industry。

Alibaba acquires Suning，Two years ago, would you have thought that Alibaba would buy Suning？Impossible，Alibaba believes that Suning is the target of revolution，Should disappear，Why 188bet online live casino should be bought？Seeing offline is valuable，There is also cooperation between JD.com and Yonghui Supermarket。

From the same perspective，half a year ago，I tell my colleagues not to think of themselves as an Internet company，Nothing awesome，We should think about creating value for users and providing user services，Which means are valuable，Both online and offline methods、means，As long as 188bet online live casino can help users create value，Everything should be used by us。

Liu Qiangdong said，The Internet dividend has disappeared。188bet online live casino past, we looked at the dividends of the entire Internet，Internet companies can last about eight years，Because you are an Internet company，More efficient、Lower cost，The mobile Internet only has three years of dividend time，Everyone is waking up now，No matter online、Serving consumers offline，Not an online company has irreplaceable advantages。

Use e-commerce + Facebook to break through

Reporter: You recently launched the “e-commerce + Facebook business” model，How long has 188bet online live casino been brewing？What motivates you to change？

Wu Zhixiang:Competition 188bet online live casino field of non-standard products，The opponent is your whetstone。We are 188bet online live casino process of competing with Tuniu，Seeing that one must have a good grasp of the entire supply side，Otherwise it will be monopolized by others。We also saw it，Brand is very important。

What is the core of competition for non-standard products？Are you looking for the most traffic?？Currently in order to obtain an outbound 188bet online live casino user，The cost is two thousand yuan，The logic of capturing customers from the traffic side is not established，From the brand side，Both Tuniu and Tongcheng have a certain amount of investment，But outbound 188bet online live casino is relatively infrequent。

We found that taking the road of traffic is dangerous，Get a user for two thousand 188bet online live casino，Want to get recycling through brand premium，Long distance。

What exactly determines non-standard products？During a competition with an opponent，Forcing us to keep thinking，Look at our data later，Research users，Ask why 188bet online live casino chose to go out with us，He said he was introduced by people around him，The ratio is quite high，Over 30% to 40%。

Look at the industry research report，I accidentally saw the latest report of the China Tourism Academy，What channels did consumers use to obtain 188bet online live casino inspiration from 2013 to 2014？Down via website，Media also declined，188bet online live casino agencies also declined，Only one item has been improved—recommendation from a friend。

Therefore，Complex non-standard products are on the market，What should be the decisive elements and connections？We think it should be human。People are not offline 188bet online live casino agencies，Offline 188bet online live casino agencies rely on people to make sales，Pull the guest over，What is the difference between us and offline 188bet online live casino agencies？You shouldn’t go down with a sword or a spear，Should be like an American soldier with the most advanced equipment for individual combat，Have the stickiness of meeting people face to face，With radar，Can call missiles，There should be an advanced computing system to help him，I saw a new model - big data + people。

Reporter: Facebook is decentralized，Use people to create a network structure，There is a lot of pressure on backend operations，How do 188bet online live casino use big data to help operators analyze？

Wu Zhixiang:After we finish running the pattern，The entire backend technology is not a problem，Alibaba still managed to withstand the pressure of Double Eleven，Didi’s current volume is also very large，Just find the best people to help us，The most important thing is to truly run through the model。Consultants are divided into full-time and part-time，The first day online after last year’s press conference，15,000 people signed up for part-time 188bet online live casino consultants，Our goal is 100,000 people。

Reporter: After Baidu’s success，There is a person who wants to use manual search plus machine search to increase competitiveness；Recruitment Industry，After China Talent Network，Someone else wants to play through the sharing economy，Find more talents to work part-time as career consultants to help solve the mismatch between job hunting and recruitment。All these years，They basically didn’t persist 188bet online live casino end，Because he doesn’t do it full-time like Didi drivers，How to solve the problem of insufficient stickiness of part-time consultants？

Wu Zhixiang:This is indeed something that needs to be tested，We haven’t found a way to finalize the decision。You just talked about recruitment，Consumers regard their 188bet online live casino consumption as a skill，While enjoying himself, he uses his experience to help his friends，Different from other industries。We have compared many industries，The tourism industry is a strong experience economy，In other areas of life，Men buy a razor，Go find a job，Buy stocks，Someone may also recommend，Only very few industries have such attributes，Tourism has such attributes，Everyone is willing to share。

Reporter: Consultants introduce services，When sharing experiences，How do 188bet online live casino control quality？

Wu Zhixiang:A bit like a chauffeur service，Depends on consumer satisfaction with the product，First, the parts and services introduced earlier，Standardize and fix as much as possible。For example, I introduced that I went to Japan to soak in hot springs last time，Very good，Open the APP and see 188bet online live casino line，can be cured，188bet online live casino is the first day。What to do the next day，The scene of introduction and departure is ever-changing，Try to introduce that the product itself is solid。188bet online live casino is the first，Ensure service quality。

Second，Why we want to cooperate with Japan、The best local 188bet online live casino agencies from South Korea and other countries established a joint venture？It is to ensure superior resources，Service quality guaranteed，I will control the joint venture，Leave a considerable number of special line customers to local companies，Service quality guaranteed。Currently，Tongcheng 188bet online live casino established local joint ventures with Japanese HIS Company and South Korean Lotte Tourism Co., Ltd.。

may become a model for China’s registration-based IPO

Reporter: Are 188bet online live casino planning an IPO this year?

Wu Zhixiang: The State Council will immediately launch the IPO registration system，We expect to launch 188bet online live casino first half of this year。Tongcheng has always kept up with Shanghai、The two exchanges in Shenzhen are in close communication。The two exchanges are also very concerned about our development，If there is a suitable opportunity, we hope to become a typical listed company after the implementation of the registration system。

Our company is temporarily not profitable，But the growth is very fast，Our revenue last year was 6 billion 188bet online live casino，Estimated to be about 15 billion 188bet online live casino in 2016，With the formation of advantages of scale，Closer to the profit target，May become a model for China’s registration system。　　

Wu Zhixiang once led the 188bet online live casino team to escape death twice

Reporter: I heard that 188bet online live casino had at least two near-death experiences?

Wu Zhixiang:Entrepreneurship is about moving forward with a team，Now 188bet online live casino rush here with your team，There is basically no way out，In this process 188bet online live casino will see the team making progress，188bet online live casino will have a sense of accomplishment。

Escape from death should be at least twice。188bet online live casino is that we had no money at the time，No 188bet online live casino follows us，When receiving the first round of investment，When doing SEO (search engine optimization)。Standard product era，What is the power of a final decision？around 2008，We want to win hotel tickets，At that time, we figured out that the core force in deciding hotels, air tickets, and tickets was traffic，No 188bet online live casino thought that way at that time。

Ctrip、ELong issues cards at the airport，Tongcheng only has 15 million，How to compete with a large company worth two to three billion yuan？Tried many methods，Finally, I found that there is only one way: find traffic，With traffic, everything is possible。We bet on Baidu，Results via SEO and SEM，We are from Ctrip、Elong has made hotel tickets and tickets 188bet online live casino cracks。

Second time，When Ctrip sells our tickets，We are completely disorganized，At that time, I relied on the entrepreneurial team to not give up、The spirit of never giving up，We have a firm foothold 188bet online live casino tickets，Received investment from Ctrip。

Today the node is another big crossroad，A very big problem lies before us - the basic competition pattern of standard 188bet online live casino has been determined。

How to buy non-standard products？Comparing the Tongcheng team today with 2008，We have matured a lot，188bet online live casino was a random fight，Today we have learned to constantly review and summarize，There were only 700 people at that time，15 million investment，Nearly 10,000 people today，6 billion cash，What’s more important is that the team has grown，This is no longer the Red Army of 1937，Already around 1944，Have experienced many battles。

After we think clearly about the e-commerce + Facebook strategy，In three months, nearly a thousand of our colleagues rushed to various places to launch the strategy，Respond and execute。In Beijing，Our new building opens March 1st，In Suzhou，The new building will also hold a relocation ceremony on March 25th；188bet online live casino can be said that Tongcheng’s “headquarters + six regions” strategy has begun to take shape，Take Beijing as an example，Twenty or thirty new employees are added every day，Conference calls for various lines are held every night，Tongcheng has formed a combat-effective team。

Reporter: Facing the pressure of some new competitors，How to deal with 188bet online live casino？

Wu Zhixiang: The peripheral 188bet online live casino market is our core part，We will not give it away for outbound 188bet online live casino。In the attraction market，There is another way to play，In addition to helping sell tickets，Will host some attractions，Tongcheng becomes a hosting company for scenic spots。

We now host over a hundred attractions，Is the largest scenic spot hosting company 188bet online live casino country，Currently we are planning to establish a relatively large scenic spot investment fund，188bet online live casino scenic spot industry chain, it is a "vertical to the end" strategy，Carry out activities for scenic spots，Building informatization and building gates，Help the scenic spot hosting，Investment Scenic Area，We will become an important part of the scenic spot，Then the relationship between me and Meituan changed from a parallel relationship to an upstream and downstream relationship，It wants to get tickets from me and help me sell them。

Reporter: There is also an Ali in Alipay，188bet online live casino Alibaba’s approach to tourism capture a certain market share?？

Wu Zhixiang:Alibaba’s way of playing leisure games，Also platform style，Very similar to Ctrip，The platform has platform advantages，But we think that besides the platform，Platform 188bet online live casino field of non-standard products，Development will be limited。

Qunar uses a platform-based approach to operate air tickets，Almost killed Ctrip，Because air tickets are standard，Consumers decide where to book flights 188bet online live casino Qunar and Ctrip，The core factor is price。

But in the field of non-standard products，Price is not the most important factor，Service and quality are core factors。One Hong Kong dollar 99 and one Hong Kong dollar 2800，You may choose the one priced at 2,800 yuan。The platform has no value over time，The comparison result is that the same trip to Hong Kong is NT,800，The Hong Kong tour from a certain 188bet online live casino agency is 99 yuan，What are we comparing at this time，What are the core deciding factors for people to choose non-standard products？

Price is one aspect，Brand is an aspect，Flow is one aspect，But the most important thing is people，Someone sits next to you and tells you about his 188bet online live casino experience，And product quality is guaranteed。