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FRESHIPPO: BUSINESS MODEL EVOLUTION IN ALIBABA’S NEW RETAIL PLATFORM1

Vincent Chang and Qiong Zhu wrote this case solely to supply materials for sophistication dialogue. The authors don’t intend for instance both efficient or ineffective dealing with of a managerial state of affairs. The authors might have disguised sure names and different figuring out info to guard confidentiality.

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Copyright © 2019, CEIBS (China Europe Worldwide Enterprise College) Model: 2019-09-13

The primary Freshippo retailer opened in Shanghai, China in January 2016. It was not till 9 months later that the second retailer was opened. Nonetheless, from that time on, Freshippo stepped up its nationwide growth by opening a brand new retailer each six days, on common. By June 2018, Freshippo owned 46 shops in 13 cities and had set a goal of working over 100 shops by the top of 2018,2 with the final word aim of building a superior good telephone software (app) that may tower above most e-commerce platforms.three

When getting into a Freshippo retailer, clients noticed an array of contemporary produce that reminded them they have been in a grocery store, however in addition they noticed meals being ready, individuals eating, and meals being packaged and sorted in baggage for patrons to choose up and take residence to eat. Was Freshippo a grocery store or a catering outlet? Hou Yi, Freshippo’s founder and chief government officer, identified that it was neither a grocery store nor a catering outlet, however a technology-driven “new retail” platform. Prospects may store and dine in a Freshippo retailer, or they may use the Freshippo app to put an order, which was assured to reach inside 30 minutes.four

Nonetheless, flaws had began to floor within the evolution of Freshippo’s enterprise mannequin, similar to retailer administration points, poor service, and lengthy wait occasions for meals preparation.5 Freshippo needed to make some selections concerning increasing and exploring new enterprise fashions, or as an alternative resolving issues and making enhancements. Which choice was a better precedence?

CHINA’S FRESH-PRODUCE RETAIL MARKET

In accordance with a shopper perception report, contemporary produce was essential to clients, and it was typically a path towards extra purchases. Roughly 75 per cent of consumers claimed that they might purchase different merchandise after deciding on contemporary produce.6

In 2017, China’s fresh-produce market reached ¥1,789.7 billion7 in conventional retail, however solely ¥139.13 billion (or 7.eight per cent) in on-line gross sales, though the market had maintained an annual development fee of over 50 per cent since 2014 (see Exhibit 1).eight The Chinese language contemporary produce retail market, which was already

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residence to numerous e-commerce platforms similar to Contemporary JD and Tmall Contemporary (see Exhibit 2), was getting crowded with new retail platforms similar to Yiguo, Yonghui Tremendous Species, and 7FRESH (see Exhibit three). Buyer demand for contemporary produce was a key driver of sturdy development on this market. A survey discovered that clients aged 26 to 35 have been the principle purchasers of on-line contemporary produce, consisting of 57.6 per cent of the market. It additionally discovered that lots of them have been from middle-class households and 76 per cent of them held a bachelor diploma or larger.9 These clients pursued a better high quality of life. Relating to contemporary produce, they positioned excessive precedence on high quality, freshness, and comfort in purchases, far above costs (see Exhibit four). Supermarkets or different retailers have been in no place to satisfy the wants of this buyer group, so new retail platforms like Freshippo emerged to fill the market hole.

ALIBABA

Freshippo was an affiliate of Alibaba Group (Alibaba), China’s largest e-commerce firm, which was based in 1999. Alibaba entered the bodily retailing trade in 2014. Along with Freshippo, Alibaba tried organising different good shops and pouring capital into conventional retailers similar to malls, supermarkets, and comfort shops. By the top of 2017, Alibaba had channelled over ¥75 billion into conventional “brick-and-mortar” retailing.10

Freshippo had acquired US$150 million in funding from Alibaba and different buyers; Freshippo’s administration workforce was largely composed of Alibaba executives. The web-to-offline (O2O) system that had underpinned Freshippo’s operations at first was developed by Alibaba’s analysis and growth workforce, based mostly on an thought by Yi. This challenge concerned 500 engineers and was accomplished inside a 12 months and a half. As well as, Freshippo was allowed to share suppliers with Tmall. Due to this fact, Freshippo may set up direct relationships with suppliers and companions on the high of the producers’ provide chain on the preliminary stage.11

FRESHIPPO

Freshippo’s founding workforce was created by Alibaba in March 2015. Mentioned Yi, “Any nice enterprise shouldn’t be based mostly on trial and error in any respect. As a substitute, it ought to be based mostly on what we name top-level design, which was confirmed on the primary day of the startup.”12

The corporate’s top-level design consisted of 4 predominant enterprise aims: first, on-line transactions ought to exceed conventional retail offline orders; second, a single Freshippo retailer ought to fulfill 5,000 on-line orders per day; third, the Freshippo app ought to function independently, without having for site visitors from different sources; fourth, Freshippo ought to provide 30-minute order supply, whereas reining in prices for cold-chain logistics. As well as, the founding workforce set constant requirements for each on-line and offline retailing by way of the membership system, stock, product costs, advertising and marketing channels, and accounting procedures.13

Freshippo’s first retailer operated inside these aims. It had a ground area of four,500 sq. metres and was positioned in Pudong. The identify displayed on the retailer’s predominant entrance was “Alipay Membership Retailer.” Buying at a Freshippo retailer started with downloading the Freshippo app, which was linked to Alipay, Alibaba’s cell fee system. To maintain logistics prices low, with out undermining the standard of contemporary produce, Freshippo provided grocery supply inside a three-kilometre radius of every Freshippo retailer, permitting Freshippo to ship groceries at room temperature, with out the necessity for a cold-chain system.14

Positioning

Roughly 70 per cent of Freshippo members have been feminine enterprise employees aged 20 to 45, who have been interested by high quality of life for his or her household. Freshippo’s retail resolution catered to their fast-paced way of life by

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Web page three 9B19M093

making contemporary produce obtainable for buy via O2O providers. Freshippo inspired wholesome consuming habits with contemporary meals made obtainable for consumption whereas nonetheless contemporary, reasonably than counting on refrigeration.15

Freshippo offered the choices of in-store cooked meals for eating on website and partially or totally ready meals for heating to eat at residence. For particular person servings, contemporary produce was obtainable in small packages and seafood was offered by the piece. For instance, a bag of greens (300–500 grams) and a bag of pork (350–450 grams) may function a person meal. If a buyer was not glad with a purchase order, Freshippo accepted returns unconditionally. Prospects solely wanted to click on “Return” on the Freshippo app and a courier can be despatched to their doorstep to choose up the gadgets.16

To draw clients and entertain diners, every Freshippo retailer organized at the very least two occasions every week and offered a WeChat on-line group, the place clients may talk about meals associated matters. Freshippo additionally used the WeChat account to tell the shoppers about meals and well being, as part of its worth proposition for reaching clients via personalised advertising and marketing.17

Seafood: A Enhance to Freshippo’s Model Visibility

In stark distinction to the unappealing and ugly show of seafood in lots of supermarkets and public markets, Freshippo shops featured brilliant, odour-free, and clear seafood aquarium shows that includes king crab, Boston lobster, and brown crab, which have been hardly ever obtainable in different shops. Freshippo seafood costs have been akin to these of wholesale markets, and roughly 50 per cent decrease than seafood costs in supermarkets or on-line shops.18

In accordance with a Freshippo government, stay seafood had been anticipated to offer Freshippo nice model visibility from the beginning. “Big seafood is our best-selling merchandise. What we provide is cost-effective stay seafood that may rapidly lure flocks of consumers into our shops.”19 In accordance with a deep-sea fishing skilled, buying malls and supermarkets have been reluctant to promote giant portions of stay seafood due to its low survival fee, low high quality assurance, and big working prices.20 Freshippo had deliberate rigorously earlier than deciding to enter the seafood phase. The corporate bought seafood instantly from the highest of the availability chain, similar to deep-sea fishing boats, which provided a value benefit. Freshippo additionally alleviated spoilage with a restricted degree of seafood farming and lowered the spoilage fee by guaranteeing excessive gross sales turnover.21

Freshippo attracted customers via gross sales promotions for so-called “large seafood.” For instance, in 2017, Freshippo used a picture of Alibaba founder Jack Ma holding a king crab on the seafood pond on the Jinqiao Freshippo Retailer to generate a viral on-line response that generated 89 pages of search ends in a Sogou search field and 1000’s of returns via a WeChat search.22

Freshippo’s reputation turned a promoting level for associated companies. The phrase “Freshippo district home” was utilized by realtors to advertise the sale of houses positioned inside three kilometres of a Freshippo retailer. Buying malls that included a Freshippo retailer benefitted from a rise in clients buying on the different shops within the mall, as a shopping center director in Hangzhou confirmed: “After Freshippo opened a retailer at my shopping center, the foot site visitors on this mall considerably elevated. The recognition of Freshippo and the temptation of seafood appeal to each native residents and vacationers.”23

Freshippo’s skill to draw excessive numbers of consumers caught the eye of different buying malls and native governments in search of co-operation alternatives. For instance, the Wuhan municipal authorities invited Freshippo to open a retailer within the metropolis. Nonetheless, the corporate used a fancy system of knowledge and know-how to find out the place it might open a brand new retailer.24

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Though stay seafood raised model consciousness amongst clients, Freshippo was nicely conscious that fruit, greens, meat, poultry, eggs, milk, bread, and partially ready dishes have been extra important every day requirements for its clients. Due to this fact, Freshippo established a freshness program referred to as Ri Ri Xian (or “Day by day Contemporary”) for greens, meats, and milk in August 2017, which greater than quadrupled the variety of month-to-month lively Freshippo app customers by the top of 2017. The freshness program aimed to make use of all greens, meats, and milk inside 24 hours. As these merchandise approached the top of their shelf life, they might be discounted or used as elements for ready dishes.25

Enterprise Mannequin Growth

Freshippo Market

In December 2016, the 10,000-square-metre Freshippo Market opened in Shanghai, at twice the scale of its first retailer.26 Prospects have been welcomed into the shop for buying and in-store eating. As nicely, the eating space promoted on-line orders for partially ready and totally ready dishes, which resulted in additional than 50 per cent on-line gross sales of whole orders in Could 2018.27

Every Freshippo retailer carried not more than 5,000 stock-keeping models, of which 80 per cent have been meals and 20 per cent of meals gadgets consisted of contemporary produce to advertise a wholesome way of life. Most meals gadgets consisted of mid- to high-end merchandise offered in small packages, preferrred for particular person consumption, with a barcode for handy self-checkout within the retailer or on-line ordering utilizing the Freshippo app.28 The web order course of was extraordinarily environment friendly. After the order was positioned, it took solely 10 minutes to pack and 20 minutes to ship it to the client.29

F2 Comfort Retailer

Freshippo’s F2 (which stood for “Quick and Contemporary”) comfort retailer opened on December four, 2017. The 500-square-metre comfort shops provided breakfast, lunch, and afternoon tea to close by workplace employees.30 F2 shops provided clients interesting seafood gadgets at common Freshippo retailer costs. Prospects may use the Freshippo app to put their order for seafood and F2 retailer cooks would begin cooking the meal for decide up a short while later. The client may select to devour the meals within the F2 retailer or take it again to the office for consumption.31

Freshippo Nanxiang Retailer

Freshippo was criticized for its lengthy wait occasions for meals.32 To deal with the issue, Freshippo opened its Nanxiang retailer in February 2018, combining an automatic restaurant with a conventional grocery store. Upon getting into the shop, clients would use a digital listing to decide on their desk and would observe the directions to their seat. They might then scan the barcode on the desk utilizing the Freshippo app to put their order, which might arrive a short while later through a robot-based system on tracks.

The entire course of, together with inserting the order, cooking the meal, and supply to the desk, was monitored and displayed subsequent to the desk for the client’s comfort.33 Supply of the meal to the desk, after cooking was full, took solely 40 seconds.34 However, the shop continued to obtain complaints about lengthy wait occasions, along with feedback about stale meals and lacklustre cooking.35

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Freshippo Cloud Grocery store

Regardless of the opening of extra shops, Freshippo’s shops skilled bottleneck points in processing on-line orders. Given its restricted warehouse area and supply mannequin, a single Freshippo retailer may course of not more than 7,000 on-line orders per day.36 With its deliberate 30 shops in Beijing in 2018, Freshippo’s whole processing capability can be a most of 210,000 on-line orders per day. As compared, DaojiaJD stuffed over 4 million native orders on June 19, 2017 alone.37 In an try to interrupt via the web order bottleneck, Freshippo launched its cloud-based grocery store on April 1, 2018. From that time on, the Freshippo app would function as an e-commerce platform, along with offering digital providers for particular person shops.38

As a result of most e-commerce platforms usually offered a wide range of merchandise, Freshippo provided 20,000 gadgets on its cloud grocery store together with every day requirements similar to cosmetics, kitchen utensils, a wide range of meals, maternity merchandise, kids’s provides, and grownup merchandise usually unavailable in Freshippo shops. The cloud-based retailer was additionally capable of present in a single day supply. Ordered merchandise have been transported to the suitable Freshippo shops at midnight and delivered the subsequent day free of charge through the retailer’s downtime. Throughout a trial run of the cloud grocery store, Freshippo processed roughly 20,000 orders per day in Shanghai.39

Hexiaoma Shops

In June 2018, Freshippo opened the Hexiaoma retailer in a joint partnership with RT-Mart, a conventional grocery store retailer chain acquired by Alibaba. The Hexiaoma retailer had a ground area of about 800 sq. metres and built-in the normal grocery store and warehouse mannequin with the web retail mannequin. The shop had a contemporary produce part unfold over 50 per cent of your entire ground area. Nonetheless, the shop didn’t present contemporary seafood, eating amenities, or on-site meals preparation.40 The shop provided supply inside a radius of three kilometres, however may take a full hour for supply and solely the client’s first order every day was delivered free of charge. Freshippo made use of data-driven website choice, product choice, and site visitors operation for its Hexiaoma shops.41

Provide Chain Administration

A core competency of Freshippo’s enterprise mannequin was its provide chain administration, which coated procurement, warehousing, and supply (see Exhibit 5).

Procurement

Freshippo’s program for the choice, procurement, and allocation of all stock in every retailer was based mostly on Alibaba’s database of large quantities of statistical info (referred to as “large information”) and by itself buyer analysis.42 Freshippo offered its personal branded merchandise, in addition to third-party manufacturers. By early 2018, Freshippo branded merchandise included Freshippo Taste and Day by day Contemporary amongst its 300 manufacturers. For its Day by day Contemporary model, Freshippo bought contemporary produce via a provide chain established with companion farms. Freshippo additionally helped companion farms enhance their farming requirements for enhanced soil situations, water high quality, and environmental sustainability.43

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Warehousing

Freshippo’s warehouse operated on two ranges. The primary degree was a regional central warehouse that was used for checking product high quality, farming stay seafood, and storing merchandise. The second degree was used for storage. All of the merchandise offered by Freshippo have been loaded and unloaded via pallets. They have been trucked in bulk from their native land to a central warehouse after which transported to a storage warehouse, the place the merchandise have been separated into a number of parcels for supply to clients.44

Freshippo adopted an digital shelf labelling system that displayed product costs in actual time, guaranteeing consistency throughout on-line and offline costs and parallel retailer gross sales and replenishment. In every Freshippo retailer, slotting and stock details about merchandise may very well be transmitted always to a central warehouse, to make sure good allocation of stock.45

Beneath the order processing system, each worker used a handheld system for product recognition, stacking, sorting, packaging, and supply. For every on-line order, the system sorted related duties based mostly on the situation of merchandise in inventory and assigned them to close by staff in line with their workload. Inside three minutes, the worker sorted the merchandise and put them into offered baggage for transmission to a distribution centre, the place the ordered merchandise have been then packaged inside 10 minutes.46

Supply

Freshippo’s supply system decided the optimum supply batch quantity based mostly on the order’s sequence and handle. The system would then assign optimum duties to the couriers based mostly on the order’s batch quantity, the class of merchandise ordered, the supply space, and the present location of the courier. Orders positioned via the cloud grocery store have been consolidated right into a package deal for a particular supply route, based mostly on the possible workload for the courier, earlier than the merchandise have been chosen and packaged. Couriers would then journey to every buyer’s location and distribute every related order to the client.47

Profitability

In July 2017, when the 13th Freshippo retailer was opened, Yi acknowledged that each one Freshippo shops working for longer than six months had been worthwhile. Nonetheless, know-how and logistics bills had not but been accounted for, so these shops might have solely managed to interrupt even. A web-based merchandise conversion fee was calculated by dividing the variety of orders positioned by the variety of guests. The worthwhile shops had achieved a conversion fee of 35 per cent, which was 10 to 15 occasions larger than a typical e-commerce web site, and the gross margin of on-line orders was 20 per cent.48

In accordance with Yi, in April 2018, the income from on-line orders accounted for 60–70 per cent of the working income of a Freshippo retailer operating for multiple 12 months. A four,000-square-metre retailer in Shanghai achieved annual working revenues of roughly ¥300 million.49 The typical value for an internet order was over ¥80; for an offline order, it was over ¥120. The consolidated gross margin of Freshippo merchandise was 18–23 per cent; for seafood, it was 25–30 per cent.50

Freshippo shops earned ¥50,000 per 12 months per sq. metre, in comparison with solely ¥15,000 per 12 months per sq. metre for conventional retailers. In accordance with Freshippo, there have been three key causes for this distinction.

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First, the proportion of seafood merchandise offered in Freshippo shops was greater than 10 occasions larger than that in supermarkets. Seafood produce may additionally obtain 25–30 per cent gross margins, and seafood processing on website may generate good-looking money flows from processing charges. As well as, Freshippo instantly sourced contemporary produce, together with seafood, with robust bargaining energy. Specifically, sharing buying sources with Alibaba introduced Freshippo a substantial benefit in product pricing, in order that the costs for greens have been greater than 10 per cent decrease at a Freshippo retailer than in a grocery market.

Second, Freshippo shops in several areas provided a wide range of partially ready and totally ready dishes. These classes led to a rise in on-line orders, producing huge gross margins.

Third, in contrast with eating places, the eating space in a Freshippo retailer operated for an extended time every day, which boosted on-line gross sales of catering merchandise. The gross margin for catering providers hovered at 50–70 per cent.51

The price of opening one Freshippo retailer may very well be within the tens of hundreds of thousands of yuan,52 and the order achievement value 53 per order was twice the trade common, at ¥12. 54 Order achievement prices included logistics, packaging supplies, coupons, gross sales promotion, and lease. Every Freshippo retailer doubled as a warehouse, which incurred excessive human sources prices. For instance, a Freshippo retailer in Shanghai had 30 sorters, three salespeople, two staff within the service centre, six to eight staff within the eating space (excluding the kitchen), three or 4 safety guards, and 100 couriers.55 In Shanghai, Freshippo provided couriers a month-to-month wage of ¥eight,000 to ¥10,000.56

CHALLENGES AHEAD

In 2018, Freshippo opted for some aggressive adjustments. In January, Yi claimed that Freshippo was working at full throttle to open 2,000 shops.57 To realize such an goal, Freshippo would set up joint shops based mostly on its present working mannequin or rework the normal shops in line with the Freshippo mannequin. Freshippo’s present shops, nevertheless, acquired complaints constantly. How would joint shops and remodeled shops keep away from complaints? If complaints flared up through the speedy growth of Freshippo shops, how would Freshippo preserve its model aggressive?

Yi didn’t appear involved about attaining an ideal rating in regard to complaints:

Freshippo won’t select to determine itself as an ideal platform by making up for its deficiencies. As a substitute, we have to go away our opponents additional behind by creating a better barrier to entry. In 2018, our high precedence is to make our energy extra highly effective. As for the weak spot, we will handle it step-by-step.58

Primarily based on Yi’s logic, what sort of platform and enterprise mannequin ought to Freshippo undertake?

This doc is permitted to be used solely by Kalsang Chhosphel (kalsang.chhosphel@baruchmail.cuny.edu). Copying or posting is an infringement of copyright. Please contact customerservice@harvardbusiness.org or 800-988-0886 for added copies.

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EXHIBIT 1: TRANSACTIONS IN CHINA’S FRESH-PRODUCE E-COMMERCE MARKET (2013–2019)

126.7 275.zero

497.1

871.three

1,391.three

1,947.eight

2,565.three 255.9%

117.zero%

80.eight%

75.three%

59.7% 40.zero% 31.7%

zero.zero%

50.zero%

100.zero%

150.zero%

200.zero%

250.zero%

300.zero%

zero.zero

500.zero

1,000.zero

1,500.zero

2,000.zero

2,500.zero

three,000.zero

2013 2014 2015 2016 2017 2018e 2019e

Whole transactions (¥100 million) Annual development fee

Supply: “2018 Client Insights Report on China’s E-Commerce Business in Contemporary Produce,” iResearch, January 5, 2018, accessed Could 23, 2018, http://report.iresearch.cn/report/201801/3123.shtml.

EXHIBIT 2: TRADITIONAL E-COMMERCE PLATFORMS’ PUSH INTO THE FRESH-PRODUCE INDUSTRY

FreshJD

Launched in January 2016, FreshJD provided a whole class of contemporary produce underneath its personal manufacturers and from third-party retailers.

With over 10,000 inventory protecting models, FreshJD offered “in a single day supply” within the areas it coated.

Tmall

Apart from its self-run fresh-produce retailer launched in January 2015, Tmall provided solely contemporary produce from third-party retailers.

Tmall began offering one-hour supply in Beijing in the summertime of 2017.

Supply: “2018 Client Insights Report on China’s E-Commerce Business in Contemporary Produce,” iResearch, January 5, 2018, accessed Could 23, 2018, http://report.iresearch.cn/report/201801/3123.shtml.

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c an

Web page 11 9B19M093

EXHIBIT four: PRIMARY CONSIDERATIONS OF CHINA’S ONLINE PURCHASERS OF FRESH PRODUCE IN SELECTING E-COMMERCE PLATFORMS

57.zero%

11.eight% eight.eight% eight.zero%

5.7% 5.1% three.four% zero.2%

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10%

20%

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40%

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60%

Meals security

Worth Logistics and

supply

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Platform’s model

consciousness

Platform providers

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pe rc en

ta ge

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se rs

Supply: “2018 Client Insights Report on China’s E-Commerce Business in Contemporary Produce,” iResearch, January 5, 2018, accessed Could 23, 2018, http://report.iresearch.cn/report/201801/3123.shtml.

EXHIBIT 5: DIAGRAM OF FRESHIPPO’S SUPPLY CHAIN

Sourcing ( Suppliers)

Central Warehouse

Retailer Warehouse

Retailer on the entrance; gross sales and catering

Warehouse behind; Logistics/ warehousing middle

Home direct buying; buying from origin (fruits) Buying Regionally (meals; greens)

Temperature‐ managed processing & testing enter; high quality check;

packaging; farming and standardization

Abroad direct buying

Buying and selecting up within the retailer

Stocking Native corporations picked contemporary produce within the afternoon and transported them to Freshippo shops within the night.

Selecting up items

Couriers Freshippo app

Customers

Delivering items Inserting order

Bulk Cargo

Loading and unloading via pallets

Observe: Strong line represents logistics; dotted line represents info flows. Supply: Tailored from “A Probe into Freshippo’s Logistics System [in Chinese],” Home Focus, April 17, 2018, accessed Could 29, 2018, www.yidianzixun.com/article/0Ip5R82a.

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Web page 12 9B19M093

ENDNOTES

1 This case has been written on the idea of printed sources solely. Consequently, the interpretation and views offered on this case will not be essentially these of Freshippo or any of its staff. 2 Dong Ye, “Freshippo Opened 46 Shops [in Chinese],” Pintu 360, April 26, 2018, accessed Could 29, 2018, www.sohu.com/a/229549090_363549. three Zhang Yuyun and Jin Zhigang, “Hou Yi Claims Freshippo Will Turn into a Tremendous App Quite Than a Mere E-Commerce Platform [in Chinese],” Xinmin Night Information, January 10, 2018, accessed Could 29, 2018, http://newsxmwb.xinmin.cn/wangshi/2018/01/10/31350227.html. four Wen Yingran and Zhu Yiyi, “New Retail Competitors Intensifies as Freshippo Opens Ten Shops in 5 Cities [in Chinese],” 21st Century Enterprise Herald, September 29, 2017, accessed Could 24, 2018, http://mini.eastday.com/a/170929071340935.html. 5 “Hidden Dangers in Freshippo’s Working Mannequin [in Chinese],” Sohu, April 24, 2017, accessed Could 28, 2018, www.sohu.com/a/136085005_479244. 6 “2018 Client Insights Report on China’s E-Commerce Business in Contemporary Produce,” iResearch, January 5, 2018, accessed Could 23, 2018, http://report.iresearch.cn/report/201801/3123.shtml. 7 ¥ = RMB = Chinese language yuan renminbi; US$1 = ¥6.42 on June 1, 2018; all forex quantities are in ¥ until in any other case specified. eight Nie Liping, “The place Does Freshippo Open Shops Aggressively? [in Chinese]” Sohu, Could three, 2018, accessed Could 24, 2018, www.sohu.com/a/230217618_167028. 9 “2018 Client Insights Report on China’s E-Commerce Business in Contemporary Produce,” op. cit. 10 “Offline Buying Malls and Supermarkets Could Face Brilliant Prospects as Jack Ma and Tony Ma Spend money on New Retail [in Chinese],” Sohu, December 12, 2017, accessed July 04, 2019, www.sohu.com/a/210048090_643591. 11 Caijing, “Ali CEO Defined the Creation of Freshippo in Element [in Chinese],” Huxiu, August 29, 2017, accessed September four, 2018, www.huxiu.com/article/212254.html. 12 Liu Run, “What Is the Logic of the Prime-Stage Design of Freshippo? [in Chinese]” Sohu, July 05, 2018, accessed September four, 2018, www.sohu.com/a/239505039_313170. 13 Ye Mingyue, “Jack Ma Considers Large Knowledge and Cloud Computing as Certainly one of Alibaba’s Core Methods in Subsequent Decade [in Chinese],” Fiber of Week, October 9, 2015, accessed January 12, 2018, http://fiber.ofweek.com/2015-10/ART-210007-8440-29012280.html. 14 Caijing, op.cit. 15 Qu Lili, “In New Retail, Freshippo Doesn’t Take into account Making Finest-Promoting Big Seafood a Day by day Necessity [in Chinese],” China Enterprise Journal, January 27, 2018, accessed Could 25, 2018, http://information.winshang.com/html/063/3468.html. 16 Ibid. 17 Nie Liping, op. cit. 18 Wu Wenzhi and Chen Yunzhe, “In Trial Operations, First Freshippo Retailer in Beijing Sells Seafood for Half the Worth on E- Commerce Platforms of Contemporary Produce, [in Chinese]” Beijing Enterprise In the present day, June 9, 2017, accessed Could 25, 2018, www.bbtnews.com.cn/2017/0609/196856.shtml. 19 Qu Lili, op. cit. 20 “Freshippo’s Finest-Promoting Stay Seafood: A Boon or Bane for Seafood Market? [in Chinese]” Sohu, January 28, 2018, accessed Could 29, 2018, www.sohu.com/a/219407099_672426. 21 Qu Lili, op. cit. 22 “How Did Freshippo Turn into an Web Sensation? [in Chinese]” Retail Boss APP, July 30, 2017, accessed Could 25, 2018, http://36kr.com/p/5085754.html. 23 Dong Ye, op. cit. 24 “The Secret of Freshippo Web site-Choice [in Chinese],” Sohu, March 13, 2018, accessed Could 25, 2018, www.sohu.com/a/225484223_734932. 25 Zhang Yuyun and Jin Zhigang, op. cit. 26 “Freshippo Second Era Retailer Opened [in Chinese],” Soupu, November three, 2016, accessed Could 29, 2018, www.soupu.com/information/696680. 27 “At 2016 Hangzhou Computing Convention, Jack Ma Claims E-Commerce Will Be Factor of the Previous as There Are No Boundaries for Web Corporations [in Chinese],” Sohu, October 14, 2016, accessed January 12, 2018, www.sohu.com/a/116148907_468622. 28 “New Retail Is Not as Promising as One May Suppose [in Chinese],” LinkShop, January 20, 2017, accessed July four, 2019, www.linkshop.com.cn/internet/archives/2017/368767.shtml. 29 “An Interview to Hou Yi About Freshippo [in Chinese],” 36Kr, Could 25, 2017, accessed Could 25, 2018, https://36kr.com/p/5077227. 30 “Freshippo New Enterprise Mannequin F2 [in Chinese],” 36Kr, December 6, 2017, accessed Could 5, 2018, https://36kr.com/p/5106601. 31 Ibid. 32 “Offline Buying Malls and Supermarkets Could Face Brilliant Prospects as Jack Ma and Tony Ma Spend money on New Retail [in Chinese],” op. cit. 33 “Freshippo Robotic Restaurant: The Common Pace of Delivering Meals Is 40 Seconds [in Chinese],” Winshang, June 9, 2018, accessed July 9, 2018, http://information.winshang.com/html/064/0340.html. 34 Ye Mingyue, op. cit. 35 “Critiques [in Chinese],” Dianping, accessed July 5, 2018, http://m.dianping.com/store/98652528/review_all.

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Web page 13 9B19M093

36 “Freshippo’s New Advertising and marketing Mannequin,” Hishop, December 18, 2017, accessed Could 25, 2018, www.hishop.com.cn/xls/show_47608.html. 37 “Along with Dada Logistics, JDDJ.com Fulfilled Over four Million Orders a Day [in Chinese],” Sohu, June 19, 2017, accessed Could 26, 2018, www.sohu.com/a/150143954_439726. 38 “Freshippo Cloud Grocery store Will Be Launched [in Chinese],”100ec, March 15, 2018, accessed Could 25, 2018, www.100ec.cn/detail–6440747.html. 39 “Along with Dada Logistics, JDDJ.com Fulfilled Over four Million Orders a Day [in Chinese],” op. cit. 40 “Exploring Hexiaoma Shops [in Chinese],” Sohu, June 9, 2018, accessed July eight, 2018, www.sohu.com/a/234804239_184436. 41 “Knowledge Mindset Behind Hexiaoma Shocks Conventional Companies [in Chinese],” xinwen.pconline.com.cn, June 6, 2018, accessed July 5, 2018, https://xinwen.pconline.com.cn/1131/11313466.html. 42 “In-depth Investigation of Freshippo Logistics [in Chinese],” Sohu, Could eight, 2018, accessed July 9, 2018, www.sohu.com/a/231029618_650513. 43 “Freshippo Retailer Opened in Chengdu Has Freshness and Sense of Science and Know-how [in Chinese],” Winshang, February 6, 2018, accessed Could 25, 2018, http://information.winshang.com/html/063/3994.html. 44 “In-depth Investigation of Freshippo Logistics [in Chinese],” op. cit. 45 Ibid. 46 Ibid. 47 Ibid. 48 Wu Yongyi, “What Ought to the Catering Enterprise Do When Retailers Supply Catering Companies? [in Chinese],” 36kr.com, March 22, 2018, accessed Could 25, 2018, https://36kr.com/p/5125230. 49 “Freshippo CEO: Freshippo Derives 60–70% of Working Income from Non-in-Retailer Consumption [in Chinese],” 36kr.com, April 13, 2018, accessed Could 25, 2018, http://biz.jrj.com.cn/2018/04/13105624385546.shtml. 50 Wu Tao, “47-Web page Deep Evaluation of Hema,” tech.ifeng.com, August 17, 2018, accessed August 18, 2018, http://tech.ifeng.com/a/20180817/45127677_0.shtml. 51 “First-Hand Survey Knowledge Reveal What Lies Behind Freshippo, a New Retail Species [in Chinese],” LinkShop, January 20, 2017, accessed Could 25, 2018, www.linkshop.com.cn/internet/archives/2017/368767.shtml. 52 “13 Freshippo Shops Begin Making a Revenue [in Chinese],” Sohu.com, July 20, 2017, accessed Could 29, 2018, www.sohu.com/a/158644946_471161. 53 “Success value” referred to the working prices incurred by order achievement. Usually, achievement prices coated human sources, logistics, packaging supplies, coupons, gross sales promotion, and lease. It was usually thought of to incorporate all prices apart from promoting and buying. The achievement value of every order was calculated by dividing these whole prices by the whole variety of historic orders. 54 Qi Jianbao, “Freshippo Is Not as Good as You Suppose [in Chinese],” LinkShop, November 17, 2017, accessed Could 26, 2018, www.linkshop.com.cn/internet/archives/2017/391424.shtml. 55 “First-Hand Survey Knowledge Reveals What Lies Behind Freshippo, a New Retail Species [in Chinese],” LinkShop, op. cit. 56 “Freshippo Recruits Couriers [in Chinese],” www.zhihu.com, accessed Could 26, 2018, https://www.zhihu.com/query/281578149?type=created. 57 “Freshippo Plans to Open 2,000 Shops [in Chinese],” ChinaSSPP, January 11, 2018, accessed Could 29, 2018, www.chinasspp.com/Information/Element/2018-1-11/402429.htm. 58 Chen Yuefeng, “Hou Yi: Freshippo Was No Longer Mere Contemporary-Produce Grocery store; B2C Cloud Grocery store Minimize Logistics Prices by Half [in Chinese],” Sohu, March 12, 2018, accessed Could 29, 2018, www.sohu.com/a/225397758_596367.

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