"Boss, sales exceeded one million in half an hour, Meiyou E-commerce is a success!"
Song Sining was extremely excited, and all the other employees were beaming with joy!
Chen Chuanqing even walked out holding champagne: "As expected, the champagne wasn't prepared for nothing!"
Everyone had expected Meiyou E-commerce to succeed and the "pure desire" style to sell well, but they never imagined it would sell this well!
One million in half an hour!
This is comparable to major brands, isn't it?
"Don't celebrate too early, everyone, it's not time for a victory celebration yet!"
Wang Yi, however, threw a wet blanket on them, projecting the backend data onto the big screen:
"Our Meiyou has 330,000 users. Half an hour after launch, over 50,000 have updated to version 3.0.
Out of over 50,000 users, only over 1,500 placed orders, a conversion rate of 3%!
(Note: Conversion rate is the ratio of people who made a purchase to the total number of people who browsed the store!)
Normal e-commerce conversion rates are between 3-5%.
A 3-point conversion rate should theoretically be a normal result.
But for our Meiyou, it's a failing grade!"
"What!"
Everyone was shocked, their expressions turning grim:
"Why is it a failing grade?"
"Isn't the boss's demand too high?"
Wang Yi waved his hand:
"Other e-commerce platforms have 3-5% conversion rates because their products are highly homogenized, and there are many competitors, which results in such a low conversion rate!"
"However, our Meiyou's 'pure desire' style is a groundbreaking innovation. The market is completely open with no competitors! The conversion rate should be much higher; 5%-8% would be normal!"
Everyone nodded, acknowledging the logic.
Simply put, for other clothing, if you don't buy from one store, you can go to another.
There are dozens, even hundreds, of stores to choose from, so the conversion rate naturally is only 3%-5%!
But for Meiyou's 'pure desire' style, currently, it's the only one; there are no alternative merchants, so the conversion rate should theoretically be much higher!
Wang Yi continued:
"Plus, with our first-day major promotional event—10% off for purchases over 300, 20% off for purchases over 500, and 30% off for purchases over 1000—the conversion rate should be even higher, 8%-10% would be right!"
"But why is it only 3%?"
At these words, everyone fell silent.
Chen Chuanqing's expression became even more solemn:
"The boss is right. Judging from the market response, everyone really likes Meiyou's 'pure desire' style. This conversion rate is not normal."
Song Sining also pulled up a set of data:
"Among the 50,000 users who updated to version 3.0, over 15,000 added items to their carts, indicating that 30% of users have a potential purchase intention!"
"But only 3% placed orders, meaning 27% of people are still observing! Could it be that they don't trust our Meiyou Mall?"
Wang Yi nodded:
"Exactly! For an emerging e-commerce platform, everyone certainly lacks trust, fearing we might abscond with their money!
If they were small items worth tens of yuan, they would still be willing to try; the risk isn't big. But now that it's hundreds or thousands of yuan, their skepticism and wait-and-see attitude are also normal."
"Yes, that must be it!" Everyone suddenly realized.
One employee, however, couldn't help but ask:
"What about those over 1,500 users who already placed orders? Blindly trusting us?"
Wang Yi smiled: "No, it's not blind trust, but an irresistible urge to consume!"
"Tag these users as A-level; they are premium customers most easily induced to complete a transaction. Future advertisements should be prominently pushed to them!"
"Understood!"
Everyone smiled awkwardly.
But everyone understood that these kinds of users are what merchants like the most.
If they like it at first sight, they'll directly go for it, without caring if the merchant is reliable or not!
Big data had long been labeling people and categorizing them; Wang Yi merely did it a few years ahead of time.
"What about those users who are waiting and watching?"
Someone else asked.
Wang Yi smiled faintly:
"They are observing because they have concerns and don't trust our Meiyou enough. Then we will address their concerns. Let's push a new message…"
Soon, many Meiyou users received a pop-up message again:
"Meiyou leads fashion trends, pioneering the 'pure desire' style! 35 new 'pure desire' style products simultaneously launched on Meiyou Mall, Taobao Meiyou flagship store, JD Meiyou flagship store, Amazon Meiyou flagship store, and QQ Mall Meiyou flagship store. Welcome to shop!"
Now, those users who were worried about Meiyou Mall's credibility were completely relieved!
Even if Meiyou Mall isn't reliable, the Meiyou flagship stores on the four major e-commerce platforms are!
Their transactions are protected by the four major e-commerce platforms.
Even if Meiyou were to abscond, Taobao, JD, Amazon, and QQ Mall wouldn't!
The four major e-commerce flagship stores also have a 24-hour first-sale promotion!
Some of those who were observing moved to place orders on the four major e-commerce flagship stores, while others directly placed orders on Meiyou Mall!
The difference is that the four major e-commerce platforms require a few percentage points in commission.
Wang Yi was not concerned about this.
Raising sales on the four major e-commerce platforms and improving store metrics is also a form of promotion, and it will attract traffic and new users from the four major e-commerce platforms, generating revenue for Meiyou!
There are gains and losses; it's inconsequential.
Soon, the data from the four major e-commerce platforms also began to increase rapidly.
One hour later, the number of users who updated to Meiyou 3.0 reached 70,000.
Users who placed orders reached over 3,600, with a conversion rate exceeding 5%!
The number of items ordered exceeded 10,000, and sales reached 3 million!
On the four major e-commerce platforms, the Taobao flagship store had nearly a thousand users placing orders, while Amazon only had two hundred.
All four flagship stores combined also had over 2,000 people, over 6,000 items ordered, and sales exceeding 2 million!
Plus Meiyou Mall, total channel sales reached up to 5 million!
5 million in revenue in the first hour!
Even factoring in a 15% return rate, it's still over 4.2 million!
More importantly, it's the profit margin!
The average transaction value for Meiyou's "pure desire" style dresses is around 300 yuan, and the cost is around 30 yuan.
After deducting promotional discounts, taxes, and so on, the profit margin still reaches as high as 60-70%!
The profit margin for branded clothing is truly this incredible!
With 5 million in revenue in the first hour, the net profit exceeded 3 million!
It can be said that Meiyou E-commerce is a success, and the "pure desire" style is a complete success!
All at once, everyone in the entire company became excited.
Even Wang Yi revealed a pleased smile:
"Meiyou's 5% conversion rate, plus the 3% from orders on the four major e-commerce platforms, amounts to an 8% conversion rate. It's barely passable!"
"Yay!"
Everyone's faces lit up with joy.
Wang Yi continued:
"Meiyou Mall just launched, so everyone will still be very busy recently, and there's no time for a celebratory dinner yet. But it doesn't matter, in addition to performance bonuses, each person will receive an additional 500 yuan bonus and a 1000 yuan Meiyou dress voucher!"
"The boss is wise!"
Everyone was extremely excited.
Compared to a celebratory dinner that would at most cost 100 yuan per person, 500 yuan is clearly more practical!
And a 1000 yuan dress voucher is also very good.
Female employees like it, and male employees also like it.
Whether for a girlfriend, wife, crush, or even reselling it, it's excellent…
Motivated by the bonus, employees from all departments were invigorated, full of fighting spirit, and worked with all their might!
Wang Yi was very satisfied with this and once again summoned managers and supervisors from all departments to hold an emergency meeting:
"Sales have exploded, so service must also be in place! The warehouse needs to recruit more people, hire more people, to pack and ship non-stop, day and night! Let the major logistics companies all come to collect!"
Warehouse manager Cui Hao quickly stood up:
"Boss, rest assured, I know everyone in that logistics area. I'll go supervise the warehouse shortly. I'll sleep in the warehouse with them for the next few days!"
(End of chapter)
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