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Why Jiuxian's Business Model is so successful?

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Jiuxian’s Company Overview


Jiuxian is a leading online retailer specializing in the sale of alcoholic beverages in China. Established in 2010, the company has built a strong reputation for offering a wide variety of high-quality wines, spirits, and beers from around the world. Jiuxian's mission is to provide a convenient, reliable, and enjoyable shopping experience for consumers who appreciate the finer things in life. Leveraging advanced technology and logistics, the company has established a robust e-commerce platform that caters to the diverse tastes and preferences of its customers. Jiuxian's commitment to customer satisfaction, extensive product range, and competitive pricing have made it a popular choice among Chinese consumers. Jiuxian's business model is primarily based on e-commerce, where it operates as an online marketplace for alcoholic beverages. The company sources its products from a wide range of domestic and international suppliers, ensuring it offers a broad selection of high-quality beverages. Jiuxian's platform is designed to provide a seamless and efficient shopping experience, with features such as personalized recommendations, detailed product descriptions, and customer reviews. The company also places significant emphasis on logistics and delivery, ensuring that products reach customers quickly and in perfect condition. As for its revenue model, Jiuxian generates income primarily through the sale of products on its platform. The company purchases beverages at wholesale prices from suppliers and sells them at a markup to its customers. Additionally, Jiuxian also earns revenue from delivery charges and advertising fees from suppliers who wish to promote their products on the platform. The company's focus on providing a wide variety of products, coupled with its commitment to customer service, has enabled it to build a large and loyal customer base, driving consistent revenue growth.

https://www.jiuxian.com/

Country: Beijing

Foundations date: 1998

Type: Private

Sector: Consumer Goods

Categories: eCommerce


Jiuxian’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: provides access

Functional: quality, variety, informs


Jiuxian’s Related Competitors



Jiuxian’s Business Operations


Cross-selling:

Cross-selling is a business strategy in which additional services or goods are offered to the primary offering to attract new consumers and retain existing ones. Numerous businesses are increasingly diversifying their product lines with items that have little resemblance to their primary offerings. Walmart is one such example; they used to offer everything but food. They want their stores to function as one-stop shops. Thus, companies mitigate their reliance on particular items and increase overall sustainability by providing other goods and services.

Advertising:

This approach generated money by sending promotional marketing messages from other businesses to customers. When you establish a for-profit company, one of the most critical aspects of your strategy is determining how to generate income. Many companies sell either products or services or a mix of the two. However, advertisers are frequently the source of the majority of all of the revenue for online businesses and media organizations. This is referred to as an ad-based income model.

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Customer loyalty:

Customer loyalty is a very successful business strategy. It entails giving consumers value that extends beyond the product or service itself. It is often provided through incentive-based programs such as member discounts, coupons, birthday discounts, and points. Today, most businesses have some kind of incentive-based programs, such as American Airlines, which rewards customers with points for each trip they take with them.

Digital transformation:

Digitalization is the systematic and accelerated transformation of company operations, processes, skills, and models to fully exploit the changes and possibilities brought about by digital technology and its effect on society. Digital transformation is a journey with many interconnected intermediate objectives, with the ultimate aim of continuous enhancement of processes, divisions, and the business ecosystem in a hyperconnected age. Therefore, establishing the appropriate bridges for the trip is critical to success.

Online to Offline O2O:

Online to offline is a term (often abbreviated as O2O) used in digital marketing to refer to systems that entice customers to purchase products or services from physical companies while they are in a digital environment.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

eCommerce:

Electronic commerce, or e-commerce (alternatively spelled eCommerce), is a business model, or a subset of a larger business model, that allows a company or person to do business via an electronic network, usually the internet. As a result, customers gain from increased accessibility and convenience, while the business benefits from integrating sales and distribution with other internal operations. Electronic commerce is prevalent throughout all four main market segments: business to business, business to consumer, consumer to consumer, and consumer to business. Ecommerce may be used to sell almost any goods or service, from books and music to financial services and airline tickets.

Group buying:

Group purchasing, also referred to as collective buying, provides goods and services at substantially discounted rates in exchange for a minimum number of customers. Typically, these websites offer a discount of the day, which becomes active after a certain amount of individuals agree to purchase the goods or service. In addition, numerous group purchasing sites operate by arranging discounts with local businesses and increasing foot traffic in return for lower pricing.

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