On July 24th, the Infinite Inspiration 2019 New Consumerism Summit (Wuhan) co-sponsored by Jianghan District People’s Government, Entrepreneurship and IDG was held in Wuhan CBD. At the meeting, Fu Rao, president of Honey Bud Group, published the theme sharing of "Digging Deep into Her" Economic Scene Selection Service.
Sharp views are as follows:
1. The "her" economy is no longer bought by buy buy, and there are many entrepreneurial opportunities and investment opportunities.
2. Today, our female consumer is no longer a consumer. She has become an entrepreneur and even a connected subject, which can make our goods and families have a huge connection.
3. Women’s leadership has many advantages. We should find the advantages of women in management and make use of our own advantages.
The following is an unaudited transcript of the speech:
Fu Rao: Hello, everyone. I’m from Honey Bud. My name is Fu Rao. Honey bud is a company founded, managed and served by women, so honey bud is a very special company. 70% of the staff in our company are women, and 95% of our customers’ users may be women, and then there are 5% Bao Da. Our whole company is actually studying women, how to tap women’s economy and how to achieve women.
Therefore, my theme today is to explore "her" economy and select services in scenes. "Her" economy is a new field and new consumption, because to be honest, "her" economy is not bought by buy buy, and there are many entrepreneurial opportunities and investment opportunities.
During the eight years of Honey Bud’s pioneering work, we have come a long way, from selling a pack of diapers at the beginning, to upgrading our family consumption now, to the latest vision-quality life for young mothers, which means that we cover the whole family consumption and family life, and we will hope to have more services for everyone.
The consumption power of women is a continuous growth, and the total expenditure of women in China has increased by 81% in the past five years. On our platform, there are users from Suining City, Sichuan Province, and many surrounding cities in Sichuan Province have a lot of female users to participate in our entrepreneurial platform, which is the form of saving money for personal use and sharing money.
We have led our members to many places, including New Zealand and South Korea, to meet with our brands, to understand how cross-border e-commerce works, how brands promote their products, and take them to visit, so that our members and consumption have a very close linkage, so today our female consumer is no longer a consumer, she has become an entrepreneur, and even a connected subject, which can make our goods and families have a huge connection.
In fact, on a global scale, this kind of female creativity is actually very much. No matter what we see in the United States, India, Canada and France, many countries in the world are encouraging women to start businesses.
Moreover, Premier Li Keqiang mentioned the value of double innovation and encouraged women to start their own businesses. When we were working as a platform for women’s entrepreneurship, we thought that these full-time treasure moms could be community stewards at home at 58, and they could also be the beneficiaries of sharing the economy on the platform of Honey Bud. Because we women naturally like to study products and consume them, they want to know about this product, its technology, its quality, its production process and its whole price system, and she will share and introduce it to her friends.
Therefore, in the process of making use of such a social relationship, they will also share their parents’ shortcomings, their parenting life and their in-laws’ problems today, and in the process, they will earn their own profits. So in fact, this platform has opened up a new world for everyone. I am often moved to say that many mothers send us private messages on the platform of Honey Bud. They are very grateful to the platform of Honey Bud for giving them a chance to start a business lightly. They can no longer be coldly treated by their in-laws or husbands. They have their own independent income and feel their own value. I am not only taking care of children, but also making family expenses. At the same time, I create my own life value. I am needed not only by my family, but also by society. Many women like it.
They never thought that they could work so hard and overcome such great difficulties. So they will say, I found a new self and a better one. We will find that such a light entrepreneurial platform gives them a very big opportunity to tap "her" economy.
In our opinion, the upgrading of China women’s consumption power is no longer just bought in buy buy, but has more fields, including investment, entrepreneurship, and more. For example, we are now exploring this way of being the queen of short videos, because users can not only buy and sell in buy buy, but also shoot short videos, introduce good products, become spokespersons of brand parties, and then become presenters of some food broadcasts. In fact, we are all digging for "her" We focus on the scene of women, but we will continue to explore in this scene.
This is Honey Bud’s vision to become the most influential women’s lifestyle service company in the world. We used to have many visions, including zero anxiety for women in the world, including Bao Ma getting rid of parenting anxiety. Now we are the most influential women’s lifestyle service company in the world. These two are also our product spokespersons. They shoot short videos of users introducing products. When we tap "her" economy, we find many entry points for them to create value.
Honey Bud also publishes some books related to women’s inspirational, all in the hope that in such a process, everyone can feel some emotional connections and some inspirational motivation.
At the same time, I also introduce the whole core management of Honey Bud. I just said that we are a company created by women and managed by women, so it is very wonderful. Our CEO is a woman, our CTO is also a woman, our brand vice president is a woman, our customer experience vice president is also a woman, and the supply chain vice president is also a woman, including me. Therefore, in fact, several core organizational structures of our company are all women, which is amazing and difficult for me, because to tell the truth, it is really a difficult thing for a group of women to get together, and everyone will still have a lot of emotional things in them. How can we make such a career more successful?
In fact, we think that women’s leadership still has many advantages. In fact, this is a coincidence, which does not mean that we need to use female managers in pursuit. Under this coincidence, we find that women’s advantages in management should be utilized.
When we are managers, we will say that women need to overcome the pain of decision-making power such as data, objective analysis and rational judgment. In fact, women often face it. Include that trend, rational insight is also something that women need to overcome, often because of perceptual reason, we use so-called perceptual things to think, and at the same time, this sensibility is an advantage, because we will know more about users, and we will know more about such a perceptual understanding of consumption, and in fact, these users are often more likely to empathize in social interaction.
That is to say, we can particularly understand their feelings of pursuing self-worth in family life, and they feel insecure. At home, they are eager to have organizations that can be recognized, have teams and comfort each other. We understand them very well. When we operate this platform, we will think that we have such a group of people, and we will deeply understand their pain points. The service we give them may be what they want most.
So-called in such a new consumption scene exploration, what is the solution we give? It is to select and adhere to the characteristics, from consumption to new consumption. Select service is to focus on changing characteristics, how to say it? It not only changed the entire supply chain of e-commerce to do selected services, but also broadened the content and methods of providing services.
There were hundreds of thousands or even a million kinds of goods on our platform before, and there were a lot of goods. We made a maternal and child platform featuring mothers and babies, with low unit price to high unit price for large and small customers. But when we explored the "she" economy and studied them, we found that what women wanted was not this, but a sense of certainty. They just wanted to know what I wanted to buy a bottle, what I bought a cart and what quality I bought sweet potatoes.
Moreover, I don’t want to compare the price and the difference between different places by one dollar or fifty cents. They need to be sure, save time, spend a lot of time taking care of their children, families and do other things, and they need a sense of certainty. Therefore, we have reduced 1 million kinds of goods to only tens of thousands of kinds of goods. I hope that when you choose a bottle or a sweet potato, there are only three choices. These three choices sum up whether you want to eat sweet or waxy, so when we give you two or three choices, you only need to choose according to your economic strength and habits.
At the same time, it is supported by mother-to-child word-of-mouth and KOL knowledge, so we have to make a lot of cuts from the goods first, and then reduce from our merchants, so that our service is getting better and better, so we emphasize the selection of good goods, good prices, and a good service experience.
At the same time, we should break through the border and deepen the field, that is to say, in addition to giving them a sense of certainty in the field of buying retail in buy buy and giving them a selected product, we hope to give them more services.
Therefore, we have changed from a special brand of imported mothers and babies to our own brand. Besides being a retail company, we have now become a brand company, and now there are four major brands.
We not only provide products with mother and baby as the core, but also expand into family life and many life services, such as fresh food, household department stores, men’s and women’s clothes, which are family-centered consumption. At the same time, we also provide services such as Fandeng Reading Club, from their giving birth and raising children to their education, and women’s beauty and health, and so on, we will cover a whole consumption field.
So we say that we will find a lot of women’s value when we tap her economy. In this process, we will feel that our boundaries are constantly being broken, and we can do more and more things, and everything actually runs through us users. Many of the things they can do are connected with us, so that we can constantly break through the boundaries and give us more new perspectives and opportunities. We also hope that more women can join the platform of Honey Bud.
