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Why Yipin Fresh's Business Model is so successful?

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Yipin Fresh’s Company Overview


Yipin Fresh is a leading online-to-offline (O2O) fresh food e-commerce platform based in China. The company specializes in providing high-quality, fresh produce directly to consumers at competitive prices. Yipin Fresh sources its products directly from farmers, thereby eliminating middlemen and ensuring the freshness and quality of the produce. The company's platform offers a wide variety of products, including fruits, vegetables, meat, dairy, and other grocery items. Yipin Fresh's mission is to revolutionize the grocery shopping experience by providing a convenient, reliable, and affordable solution for fresh food delivery. The business model of Yipin Fresh is primarily based on the O2O e-commerce model. The company operates both on an online platform and physical stores. Customers can order fresh produce online through the Yipin Fresh app or website and have them delivered to their doorstep, or they can opt to pick up their orders at the nearest Yipin Fresh physical store. The company's direct sourcing strategy from farmers enables it to control the supply chain and maintain the quality of the products, thus building trust and loyalty among its customers. The revenue model of Yipin Fresh is primarily based on the sale of fresh produce and other grocery items. The company earns revenue from each product sold on its platform. Additionally, Yipin Fresh also generates revenue from delivery fees for home delivery orders. The company's competitive pricing strategy, along with its focus on quality and convenience, has helped it to attract a large customer base, thereby driving its revenue growth. Yipin Fresh also leverages data analytics to understand customer preferences and shopping habits, which helps it to tailor its product offerings and marketing strategies, further boosting its revenue.

https://www.ypshengxian.com/

Country: China

Foundations date: 2014

Type: Private

Sector: Consumer Services

Categories: Food & Beverages


Yipin Fresh’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: wellness, provides access, design/aesthetics

Functional: saves time, simplifies, reduces effort, quality, variety


Yipin Fresh’s Related Competitors



Yipin Fresh’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.

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.

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.

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.

Mobile first behavior:

It is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices. The term is “mobile first,” and it is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices.

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.

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.

Supermarket:

A supermarket is a self-service store arranged into aisles and has many foods and home goods. It is bigger and has a greater variety than traditional grocery shops but is smaller and offers a more limited selection than a hypermarket or big-box market. Supermarkets are usually chain shops supplied by their parent firms' distribution centers, allowing for more significant economies of scale. In addition, supermarkets often provide items at competitive rates by using their purchasing power to negotiate lower pricing from producers than smaller shops can.

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