Since traditional e-commerce began to explore the new model of "live streaming + e-commerce" in 2016, short video platforms have overtaken the curve. Within five years, live streaming e-commerce has achieved a breakthrough from zero to 2 trillion GMV. In terms of proportion, in 2021, the national online retail sales will reach 13.1 trillion yuan, and live streaming e-commerce accounts for nearly 20% of the total e-commerce retail sales; in terms of growth rate, China's e-commerce retail industry has experienced a period from 2014 to 2017. After a period of rapid growth in 2008, the current growth rate has dropped back to around 10%. However, live streaming e-commerce is developing rapidly with a growth rate of more than 50%. It is becoming the core driving force for the growth of the e-commerce industry and is helping Hangzhou e-commerce unicorns to hit the market. At the same time, the ledger system has restructured e-commerce transactions. New pattern.
When the standard product market has been successfully transformed by e-commerce, non-standard categories such as antiques with huge information gaps have also solved the pain points of "authenticity" and "pricing" to a large extent through the mechanism of e-commerce, reducing users' attempts to threshold. As a vertical e-commerce platform in the antique circle, Weipaitang has moved antique street stall stores online, revitalizing a more active and lively trading scene. According to Lin Zhiming, chairman of Weipaitang, after initially seeing the pain points in the cultural entertainment market, he just tried to launch a development tool on WeChat and designed a self-service trading service for enthusiasts in the form of a price increase. The rapid influx of demand allowed him to see the prospects of this market, and he began to transform into a platform.
The outbreak of live streaming e-commerce in 2019 has brought new growth to the Wenwan e-commerce market. Just as jewelry and jade have become one of the most suitable categories for live broadcast e-commerce, the more non-standard products, the more popular they can gather in the live broadcast room. For entertainment merchants, live streaming is easy to get started and reduces operating costs; the live broadcast of treasure appraisal is also naturally interesting in content, making it easy to popularize science knowledge to players. The live broadcast simulates the atmosphere of gathering people to sell offline. It can also increase shopping desire and improve the success rate of transactions during the interaction and bidding process. Eight years after its establishment, Weipaitang has become China’s largest cultural entertainment e-commerce platform, with a market share of 24.4%. In 2021, it was selected into the "Hangzhou Unicorn Enterprise List" and recently submitted a prospectus to the Hong Kong Stock Exchange to rush for listing.
In fact, merchants and companies engaged in the e-commerce industry all know that if you want to engage in e-commerce, you must have your own platform, whether it is B2B, B2C or O20, whether it is PC, APP, mini program or public account, under all the major premises , it is particularly important to complete the construction of the platform. But after the platform is built, the payment interface needs to be embedded, so that it can be considered a complete closed loop of e-commerce transactions.
And in the actual operation process of e-commerce platforms, many Internet e-commerce platforms need to split accounts with upstream and downstream merchants, especially now that live streaming e-commerce is also very popular, and anchors and anchors also need to be involved in order profit sharing. On the one hand, the complexity of splitting accounts It is cumbersome. On the other hand, because e-commerce platforms do not have the qualifications to hold licenses, many platforms may be suspected of illegal "second clearance", so transaction splitting has become a major pain point for major e-commerce platforms.
So how does the MallBook ledger system reconstruct the new pattern of e-commerce transactions? The ledger system is actually an open platform based on virtual accounts and order payment systems. It can provide virtual accounts for various business scenarios of B2B2C/020 platform enterprises. It not only has multi-channel payment application solutions that meet the business scenarios, but also targets platform enterprise transactions. For the core issue of settlement, we provide a comprehensive package of solutions for fund accounting, accounting, accounting, accounting, liquidation, etc., and completely avoid the "secondary clearance" risk of the platform, allowing the business to become compliant. In fact, the advent of the ledger system has greatly improved the transaction management efficiency of e-commerce platforms and saved a lot of financial labor costs. It also facilitates the platform's hierarchical management of merchants and achieves multi-faceted cost and efficiency gains. .
Nowadays, e-commerce has long become an inseparable part of people's lives. Especially since the epidemic, the popularity of live broadcast e-commerce has become increasingly high. When the ledger system reconstructs the new pattern of e-commerce transactions, platform companies must seize the opportunity. Maybe you will be the next one to hit the market.