In 2017, unattended retail has replaced the sharing cycle, becoming one of the few investment spots in the investment circle.
So what exactly is unretail investment logic?
Traffic, traffic, traffic, important things GPLP says three times.
When sharing a bike opens the minds of investors, investors suddenly understand, originally the offline traffic so valuable, and even cheaper than online traffic acquisition, as a result, based on the offline scene credit payment mode no retail began to emerge in endlessly, crispy Fried chicken in 2017.
"Recently we have invested in no less than five unretail projects and continue to watch." One investor is quite mysterious to GPLP.
In September 2017, the unattended office of the office was announced to receive hundreds of millions of yuan of angel investment, the speed of light China, wang xing and others. Fruit, seven koalas, frog and CITYBOX have also recently announced their investments. Meanwhile, jd.com, Meituan, and hungry are also aware of the potential market, announcing the layout of the unattended retail market.
Yuan funds still waiting to see the conservative, about whether the business model still have questions, you could walk but GGV capital, ignition of capital, such as plum blossom angel risk on dollar funds have begun to screens.
Isn't retail sales a good business? How to get into the retail market? Every investor has his own Hamlet, and today GPLP wants to express his views.
The premise of getting traffic and investing in unattended retail
Since 2016, unattended convenience stores have been focusing on angels and VC investors, and investors in dollar funds are the main force.
Before, how many PE organization layout the offline consumer domain now began to be crowded with the angel, VC, is there no other project to be able to vote? "GPLP jun wondered.
"I don't understand." A VC investors see GPLP jun doubts, mysterious, began to put out the teacher's posture to explain the mystery to me, "this is a huge flow of entrance, taobao is equivalent to invest in a line." The GPLP took a tumble.
Original, flow, flow, or flow.
Based work set up, with no retail WeChat and alipay mobile payment market share of nearly 90%, making no retail possible - because the cash transaction threshold disappeared, entrepreneurial firms no longer upset about no retail payment issues, the user's shopping process also from previous cash or credit card to pay for goods into: code - online payment for goods, eliminating the session and the change in the middle of the cash.
This phenomenon has been observed by some keen investors.
According to the sharing of investors, investors initially observed this circuit is mainly to see the online payment system and credit system gradually improve the consumer the reconstruction of the scene, such as the most typical Shared cycling is the logic of this kind of investment.
Online payment system through the online and offline, brought opportunity for offline flow transformation, with traffic, there will be a market, therefore, VC, PE investment and strategic investors eye start from online to offline.
If the 21st century is the most expensive, then GPLP can seriously say that, apart from talent, that is traffic.
But where does the flow come from?
All of these start-ups, including investors, are looking for answers, and even Internet giants are as anxious about new traffic as start-ups. When the Internet the company's marketing costs accounted for a third or more of the total cost, a guest cost of electricity from the original 2 yuan/person to 50 yuan/person, to paraphrase a popular song, the traffic is not you want to buy, want to buy can buy, can't continue to online, offline can also repeat, so with no one to the beginning of the retail, offline flow value is to re-examine, in fact, even if the line is the most mature electrical business development, such as the birth of taobao, jingdong, such as electricity giant, however, online electricity proportion in the national consumption is still less than 10%, so back to the line is the important premise of the unmanned retail investment wave.
What is investing in unretail investment?
Everyone knows that no one can invest in retail, which is the trend and direction of the future, but what is the specific retail investment?
According to the logic of the Internet investment, if there is a traffic entrance, the startup needs to meet the high frequency and demand characteristics such as didi dache, so that it can rise quickly.
With this guidance, convenience stores and vending machines have naturally become an important entry point for offline traffic.
Investment layout according to the current investment institutions, investment circle about no retail investment can be roughly divided into two pie, no one who is keen on convenience store direction, on behalf of the company have bean fruit box, deep blue science and technology; Other is the direction of the office unattended, this also is this year's investment hot, according to incomplete statistics, in the past three months, a total of 15 unattended shelves to get funding, raised more than 1 billion yuan, this type of convenient on behalf of the company have a scarlet, GuoXiaoMei, scene as 2 b business office consumption, easier to liquidate, directly to the rent cost is saved at the same time, users don't have to go downstairs to buy buy buy, eat eat. Compared with the day of the day, the next day, the office of the unshelled shelf has been able to supply, it is extremely convenient.
And by in a closed community, and the office location, closer to consumers in geographic sites, and there is no cost of rent, getting traffic cost is zero, so this is the focus of the entrepreneurs and investors into the bureau.
Just for lack of exercise, for people who often work overtime, it is the obesity disease that needs to be taken care of.
For the former, generally speaking, there is no convenience store area for 10 to 15 square meters, commonly when 7-11 convenience store requirements, such as water, family in 1-20000 yuan to profit, for no one to convenience stores, daily water demand only 800 yuan a day can be profitable, so in the past is regarded as the traditional traffic entrance to commercial and office and community become the main layout unmanned convenience store, and finally, from the perspective of the operation, if there is no convenience store from just need of fresh food and daily necessities, and then use the accumulated flow into the flow of online platform, and then expand to more online category order, no one will be offline traffic convenience stores can be successfully transferred to online.
The use of unattended convenience stores is more than that.
After master intellectualize GPLP jun found that for these sample looks resembled box no convenience store, if they have the layout of the site enough, such as every three kilometers a network layout, then each node can both do convenience store, and can serve as the point and lead warehouse to pick up the goods. This is bean fruit box, F5 initially no one from fruit O2O business transformation to retail, logistics as the last kilometer of node, this can save cost of logistics distribution, can even replace the honeycomb logistics, GPLP jun had to sigh behind its subtlety.
It takes time and a certain amount of risk to get it all done, but once it's done, the future is enormous.
Seeing its good, you don't see its bad, the risk that no one can ignore
It's a question of how big unretail can be.
Because, after all, as a new retail consumer channel offline retail natural with no regional restrictions, like a large shopping mall and may only be a localization can prop up a listed company, therefore, there is no retail not as soon as a typical Internet companies break through time and space limit, and the situation of monopoly, on the contrary, the future is likely to be the state of the flowers.
Under this judgment, a number of dollar funds, such as IDG capital, jiyuan capital, yuanming capital and yunqi capital, have been betting on the track, actively layout, and thousands of horses have come to this bridge.
"Familiar yan return", the scene is, quite a bit of a 2008-2008 electric business investment boom, ali began to rise, at that time in ali, everyone wants to create another ali in retail field.
But is it possible?
The ancients cloud, "take history as a mirror, can know rise and fall." While unretail is a new species, it's not entirely untraceable.
As the nation's largest unmanned self-help seller, friends treasure is a typical case, it turns out that seems convenient no retail, also have their own difficult to tell (actually, that's maintenance and procurement costs.
From birth to development, youbao has many references and references.
Friend yue yuen in 2011, is committed to intelligent network can be applied to the vending machine, research and development production for global innovative smart vending machine, by using intelligent system and cloud technology, open the industry change, become innovation of vending machine brand in China.
According to the 2016 annual report released by youbao, the company's operating income was 15.76 billion yuan in 2016, up 29.29% from the same period last year. The net profit attributable to the listed company's shareholders is only 7750.08 million yuan, the largest of which is the replenishment cost, although the sales are convenient, but the problem of replenishment is increased.
According to public information of the treasure friends, as of September 2017, although the treasure friends laid branches nearly 60000 units, but as a result of selling more products is low margin and high frequency standard item, therefore, as a result, replenishment frequency increases, even if its branches densely populated, but a replenishment part can be covered by the scope and the number of replenishment is limited in one day, so when reach the saturated workload of the staff, you need to add new staff and transport vehicles.
Limited distribution personnel's workload, from this point, no self-help is not a model of the economy of scale, or restricted by human factors, when the requirements after reaching a certain frequency will be the economic scale of the model automatically translate into the economy.
, therefore, is a difficult problem in front of no retail stores, if choose high-frequency items as attract traffic entrance, so it will increase the cost of distribution replenishment, increase labor costs. For example, if a small U.S. companies such as replenishment frequency is 2-3 days/times, if the real transition from early adopters stage to expansion, with the change of the frequency of replenishment, followed by a cost is variable cost distribution costs.
If low-frequency items are selected for sale, the cost of replenishment will naturally decrease, but the purpose of attracting traffic will be greatly reduced.
Side want to quickly achieve revenue and improve gross profit margins, while no such as retail and cannot choose water margin inferior goods, but flow entrance to satisfy the principle of high frequency consumption, thus can only be chosen product select some high frequency high margin of goods,
However, we observed some offline store incomes, 7-eleven, for example, found that 40% of the company income income from fresh food, cooked food, however, the operating requirements for this part of the product they have no convenience stores are not satisfied,, of course, this also no retail platform for supply chain and loss of storage capacity and higher requirements are put forward.
That leaves the prospect of unretail, which seems very convenient, a layer of doubt.
Or the future is clear.
After all, there is a lot of buzz about startups and investment circles, such as the thousand league wars, and the GPLP is not surprising at this point.
Busy the days later, or to continue, for instance, many companies have call Xuan particularly lively, however, return to the user level is underwhelming, such as a box were often find public media exposure, in a short period of time really attracted a group of customers, but after the curious stage when, can continue to attract the flow of how much remains to be seen.
After all, for the moment, there is no retail commodity prices and the convenience store next door, shopping experience of ascension is still inferior to the convenience store next door, goods SKU coverage than mom-and-pop stores, next door to replace the old couple next door shop, for now is still a little early.