In the live broadcast on the evening of June 10, the "Oriental Selection" live broadcast platform ofNew Orientallaunched a new mode of bilingual live broadcast with goods. When the anchor recommends products, he will teach English words and short sentences, and at the same time write on the whiteboard, which is convenient Audience knows.
The social response to this innovative model was enthusiastic, and many netizens commented on it, saying "I admire Lao Yu", "I came here to learn English", "I can't escape Li Jiaqi but I can't escape Yu Minhong".Since the explosion on June 10, as of 7:00 pm on June 12, the number of followers of Dongfang Selection Douyin account has rapidly increased from 1 million to 2.9 million+, and GMV has exploded from one million to nearly 20 million (June 11 Japan), live streaming with goods entered the top ten of Douyin.
Explosion overnight after groping
On the night of June 10, theaverage number of viewers ofNew Oriental 's live broadcast reached 135,000, and the total live broadcast sales reached 301,000.The number of viewers and sales of the Dongfangxuan live broadcast room are much higher than the former. According to the data from the third-party live broadcast data statistics platform Grey Dolphin, the Dongfangxuan live broadcast room broadcast live on the evening of the 10th, with a peak number of 108,000 people and a total of 125 live broadcast products. The live broadcast sales reached 198,000 pieces, and the total live broadcast sales reached 15.343 million yuan, nearly three times the performance of the first broadcast.
The change of New Oriental’s live broadcast method originated from June 8. Yu Minhong posted on his personal WeChat public account that he led everyone to set up a “New Oriental Live Room” team to promote New Oriental’s high-quality educational products and other high-quality education-related products, including books. , intelligent software and hardware learning equipment, and learning-related cultural and educational supplies, etc.
From the perspective of consumers, the innovation of the selection model in the East is more of a novelty and admiration attitude, but from the perspective of suppliers, it is more of a surprise.
For Peng Ming, CEO and co-founder of Steak Preservation Bureau, and his company, the recent happiness has come suddenly, because the company has received a large wave of free products and announced the circle. In recent days, the daily sales have reached a million level, " It's sold out."
He recalled that at the end of April, he heard that Mr. Yu from New Oriental was going to start a live broadcast.
Peng Ming said that he felt that Dongfang Selection was for education, and people were very down-to-earth, not like the anchors of some platforms. A kind of qualification certificate, strictly control the quality.In addition, what impressed him was that many platforms asked the brand for a large number of samples for display and tasting before the broadcast, but Mr. Yu's team was very restrained. They sent a few copies at the beginning, and they said enough Well, as long as a few displays are enough.
After communication, the product was officially put on the shelves on May 18, and the first sales were not too many. "The first day sold more than 4,000 yuan, and we cooperated almost every day throughout May, but the daily sales at that time were only One or two thousand or even a few hundred yuan." But Peng Ming didn't take it too seriously. After all, the company also had sales channels on other platforms such as Douyin. For them, the sales of Dongfang Zhenxuan at that time were more like a long-term companionship. Relationship, everyone is growing together, and the other party has not asked for a pit fee.
According to Peng Ming, the company's sales in the Dongfang Selection live broadcast room did not exceed 10,000 yuan (single-time sales) in the whole of May. It was not until the sales on June 1 that the sales exceeded 10,000 yuan. There were ups and downs, but in the second week of June, the situation suddenly changed, "I checked the data in our back office, the sales on the 7th exceeded 60,000 yuan, the sales on the 8th were more than 200,000 yuan, and the sales on the 9th were more than 60 yuan. 10,000 yuan, and on the 10th, it directly broke one million yuan, reaching more than 1.2 million yuan." Peng Ming's steak sales have skyrocketed, "Now these few days, the daily sales are more than one million yuan."
From the perspective of the brand side, Peng Ming believes that the Dongfang Selection live broadcast room has its own unique characteristics - bilingual live broadcast. The anchors are humorous and knowledgeable, which is different from ordinary commercial live broadcasts."There is no need for pit fees, and there is no need to send a large number of samples. Teacher Yu leads the transformation of the conscience live broadcast room."
"The model of Oriental Selection is not about selling goods, but more about selling brands. This also points out a way for brand merchants to do live broadcasts and bring goods." Zhang Sanfeng (pseudonym), head of an MCN agency in Hangzhou, told Yicai.com reporter , Live broadcast must be a bonus for brand merchants, because only brands can continue, and marketing live broadcast is also the best way for brand merchants to show.
As for why agricultural products are chosen as the entry point, on the one hand, because agricultural products belong to the strategic direction of live broadcast of major platforms, the platforms often "open the door" to the after-sales of agricultural products. For example, the platform does not support the return of agricultural products within 7 days without reason; The fact that agricultural products are non-standard products, the competition among the major e-commerce platforms is not fierce.
"The commission ratio for live broadcast of agricultural products is 10%-15%. What they (Dongfang Selection) want now is not to make money, but to attract fans." Zhang Sanfeng said that the key is that the selection method of Dongfang is right, and the products are also identified. .
The model continues to need core data support
The temporary popularity obviously cannot confirm the success of the business model, especially the live broadcast of agricultural products has always been the most difficult bone in the field of e-commerce.
An anchor who is engaged in e-commerce live broadcasts in the field of agricultural products told Yicai.com that live broadcasts to help farmers have always been a category with increasing sales. On the one hand, the reason is the high loss rate during transportation and the high cost of cold chain; secondly, the current live broadcast TV Business dividends are still mainly in the hands of big anchors. The top anchors have a large number of orders, stronger bargaining power and greater profit potential.
Talking about the sudden popularity of New Oriental's live broadcast, Cui Lili, director of the Institute of Electronic Commerce of Shanghai University of Finance and Economics, told reporters that on the one hand, the leading competitors in the live broadcast field have disappeared one after another, and on the other hand, Oriental Selection has been groping for a while. The time generally takes about 3-6 months from the amateur to the mass, including the matching of the supply chain and the anchor side. Now the industrial chain is almost running in, and this fiery proves that its model has found a balance.
Whether the popularity can continue in the future, Cui Lili believes that it depends on the ability of the platform to continue to bring goods, such as whether the data dimensions such as viewing, ordering and GMV of each game can be stabilized at a certain level.In the future, if the platform can match the needs of the customer base, and at the same time pass on the corresponding knowledge points around these selections, so that the audience can feel that they are listening, interesting, and knowledgeable, and at the same time ensure the consumption experience, the model can be sustainable. After all, Oriental Selection The target customer group is mainly middle-class families with relatively high education level or individuals with independent economic ability. Starting from the current category, it is more suitable for the current social and economic background and the consumption of student families. Whether it can continue to develop depends on whether it can adhere to the current situation. Coordinated design and update of product selection, related knowledge and live broadcast scenes under the tonality.
Zhang Sanfeng also believes that Dongfang Selection still faces challenges in the future. "Live broadcast is about differentiation, and the focus of differentiation is creativity and methods. Without patents, today is new, and tomorrow's industry will not be new if the industry quickly replicates." Zhang Sanfeng said that Dongfang Selection What is needed is continuous iteration and innovation, which is a long way to go.
According to the analysis of the research report of CITIC Construction Investment Securities, in terms of price, the average sales unit price of the Dongfang selection Douyin live broadcast room is about 60-70 yuan (total sales/number of sales), which is lower than the 100+ yuan of other live broadcast rooms, mainly products. Mainly grocery stores.Among them, 80%+ users have a single transaction amount of less than 100 yuan, and 60%+ users have a single transaction amount of less than 50 yuan.
In terms of user traffic, the performance of Oriental Selection on June 10 can be ranked among the top five live broadcast rooms of Douyin. GMV and viewing numbers are outstanding, and the number of fans still has a lot of room for improvement. According to the current growth rate, it is expected that the Douyin account of Dongfang Selection will be in After one week, the number of fans is expected to exceed 10 million.
Comparing the top anchors of the Douyin platform horizontally, the number of top ten multi-fans is 10 million+, the average daily GMV is 10 million+, and the average daily viewing number reaches 5w+.In contrast, in the past two days of Dongfang Selection, the GMV and the number of viewings have been among the top live broadcast rooms, and the number of fans still needs to be increased in the follow-up, and there is still a lot of room for improvement.
CITIC Securities believes that, assuming the current growth rate of fans (700,000-800,000 daily increase), if the decay rate is not high, the number of fans selected by Dongfang is expected to reach 10 million in the next two weeks.Assuming an estimate based on the average daily GMV of 10 million yuan, the annual GMV of Oriental Selection will reach 3.7 billion yuan. Here, the net profit/GMV can reach 3% with reference to the Make a Friend live broadcast room. With the increase in the proportion of self-operated products and the increase in the unit price of customers, The profit margin is expected to increase to 5%. Here, 20 times PE is given and a market value of 3.7 billion is given.
