Orchid Capital, Chu Yuanxi was not even too impressed, so he thought it was a venture capital emerging that only rose after 2016, but after a check, he found that people had led the investment in Lamb Electric and playing shrimp games a long time ago.

These two companies are not trivial, the former has been listed on the NASDAQ, with a market value of 3.5 billion in ¥, and the latter is the pillar and trendsetter in the early days of the Celestial Empire mobile game. In short, these are two very powerful investments, and it is not easy to invest in one of them.

This is embarrassing, Chu Yuanxi found out that this special person actually threw in a mobile game, and he didn't know it? Fortunately, no one found out about his ignorance.

Therefore, he specially took a deep dig and found that because the style was too radical, Orchid Capital was also silent for a round, and it only broke out after 2016. It is also common for a good year not to break out into a bad year, and Zheng De Fund has also been silent for a long time, and Yuan Jing's coffee position has not been mentioned until now. Although the Ba people are very popular, they are only an isolated case.

Observing Hu Shiheng's investment roadmap, it can be clearly seen that he has a soft spot for the "second half of O2O", which can be said to be a strong man who is not afraid of catching flying knives empty-handed, because O2O is considered by the mainstream public opinion in the investment circle to be about to die. Maybe because this big guy has created a business 5 times, he has a special understanding of entrepreneurs and a full understanding of the difficulties that entrepreneurial projects may face. Only in this way, what kind of products can reach a higher height makes him more sensitive, so he will repeatedly act aggressively.

In short, this is a person who is not afraid of failure and is eager to succeed.

Hu Shiheng's real person looks younger than the photo, but the hairline has receded very outrageously, and there is a tendency to be on par with Li Jingfei. The body is also relatively fat, the belly is round, and the key is that the head is not high, so it looks very witty.

Chu Yuanxi originally wanted to welcome people in and chat for a while before going to visit the store, but he didn't expect Hu Shiheng to play cards according to the routine: "You don't have to go in, let's go." How many times have I opened the company myself, I have also used the old and dilapidated houses, the magnificent ones, and the futuristic ones with slides, there is nothing to see. ”

Hey, Chu Yuan Xixin said that this is more similar to me, and he didn't pursue this aspect. Many companies are particularly serious in decoration, they have to benchmark Google, at least they feel like they are benchmarking Google, and it is standard to go downstairs and sit directly on the rotating slide, but in fact, it is meaningless, it is better to send more money to employees and less thorns.

I only heard Hu Shiheng continue: "Actually, Sister Xu, you don't need to explore the store by yourself, don't rush, there are more than ten well-off stores, and I have already explored it myself." ”

Xu Xin actually knew that what he was doing last night was very stupid, and said in his heart, aren't you a heart?" "Xiaohu, you've already explored it, why do you want to drag us to explore it again?"

"There are a lot of questions, you need to go to the store and ask, sister, don't you think the well-off store is really interesting?"

Chu Yuan Xixin said this even more hurtful, an old woman in her fifties, her aesthetics are basically close to straight men, but the 724-style convenience store is not, the main users are young people, especially young women, Xu Xin can feel it and hell.

But he thought about it, huh, Hu Shiheng is not young at this age, he is definitely not a young man, right?

"Boss, how do you find it interesting?"

"Me, when I entered your store, I felt a, how can I say it? Hu Shiheng walked straight to the store near the Xiaokang headquarters, obviously seeing it when he came. "Your decoration, as well as the distance from the shelves to the seats, is a bit interesting, I sit against the wall, I feel quiet, settled in the human realm, and there is no noise of cars and horses, even if there are people sitting next to me, I don't feel it. ”

Ouch, this is an expert! Chu Yuan Xixin said that the style problem was only realized after the well-off in the original world had been on the road for a while, and then immediately invited design experts from the island country to give a set of standardized parameters. This set of parameters is not confined to the house type, but talks about the color of the decoration, the distance between the shelves and the height and size, the location of the air conditioning vent, etc., and even how to code the goods, at what angle the snack bag squatting on the shelf, and strictly control the height of each line of goods.

The quintessence of this is the long table facing the gable. The size of the well-off store varies, but no matter how small the store, it must have at least five seats, if it can't be the word "one", you can also fold it along the corner, these five lonely positions are a must.

It can be said that this design has a distinctive style. What is the leading convenience store enterprise in the island country?724 and Lawson, etc., the most leading thing on this track is culture. The convenience store in the island country itself is a cultural atmosphere, a place where literature and philosophy can be produced, and there are a few of the few who have this awareness among the new retail entrepreneurs of the Celestial Empire.

It can be said that the well-off in the original world can succeed, and this style is a plus, especially in the case of before and after comparison, you can clearly feel the increase in customer stickiness, such as the increase in customer unit price.

It is necessary to know that after the large amount of things can be classified into big data, the increase in the unit price of customers is immediate to the benefits of convenience stores, because the unit price of convenience stores is particularly low. When it's very low, five cents are very important, from 15 yuan to 15.5, which is a 3.3% increase, and a sword plus 3.3% vampire in an online game is an artifact.

Therefore, this time to re-do the well-off, it is directly based on this set of parameters to start the decoration, and the strict requirements for the placement of goods make every clerk very tired when they receive training at the beginning, and it takes time to adapt. This is also the reason why the well-off clerks train so long in advance.

Suddenly, Chu Yuanxi said sincerely: "Oh, big guy, you are so insightful! Heartfelt and flattery are completely different in feeling, Yuan Yuan originally wanted to joke, but found that there was really nothing wrong, but he only heard Chu Yuanxi continue: "Well-off is the space for young people in big cities to escape from the world." ”

"You're quite good at elevating yourself?" Yuan said as he stood in front of the store, the automatic door slid open, and a cool breeze immediately blew out of the store.

"It's called a grade upgrade. Chu Yuanxi followed into the store, it was more than ten o'clock in the morning, it was when there was no one in the store, some of the clerks were making hot meals, some were loading goods, and when they heard someone coming in, whether they saw it or were busy with their backs to the door, they said almost at the same time: "Welcome to a well-off life, registered members are welcome to register at 6 o'clock and 9% off." ”

This is the first clerk training, after entering the customer, immediately shout the black words in a circle, not the pursuit of neatness, but everyone has to shout, hundreds of thousands of voices a day, the voice is a high demand. This black talk is still updated at any time, and it is necessary to follow the sales strategy of Xiaokang, and at this stage it is to push registration.

After finishing speaking, some people reacted that the president was coming, Chu Yuanxi hurriedly waved his hand, signaled what they should do, and then said, "What's wrong with you?"

"Let's talk about your escapist space first, right?"

"It's very simple, many young people who work in big cities live in rented houses, which is equivalent to dormitories, especially those rented from second-hand landlords. If the user experience of a convenience store is suitable, for these young people, our hot food area and microwave are their kitchen, our freezer is their refrigerator, and in winter and summer, this is where they can heat up and escape the heat. ”

Chu Yuanxi has a house, but he has also rented a house, especially when he just worked, he was looking for a job far away, commuting for more than three hours every day, and then getting off work late, and working overtime on weekends, the home has become a purely sleeping place, it is better to rent a house next to the company. So he had a similar feeling, and it is still strong after many years.

"So what's the right experience? No one knows who's best, don't bother each other, don't communicate, and no one will chase you away. So in terms of overall style, I choose loneliness, even if there are a lot of people in the store, as long as this lonely feeling is there, our store is equivalent to their private space, and the experience is like this. ”

Yuan Yu has never paid attention to this, and even the number of times she has been to the well-off store is only a handful, and she is not the target user of the convenience store at all, so she was stunned when she heard it. "Private attributes, so important?"

"It's really important. Didn't you read a very popular article on the official account recently, saying that a middle-aged man came home from work, and the car drove downstairs but didn't get out of the car, and he wanted to sit in the car for ten minutes?"

Xu Xin immediately interjected: "Hey, I watched it, the emotional rendering is very good." ”

"This is a private property, 24 hours a day either belongs to the boss or to the wife and children, and squeezes out ten minutes to belong to yourself. ”

"Hiss......" Hu Shiheng asked more, "Isn't the convenience store business a scarcity of time? You provide private space, so how can the ping effect be calculated?"

"Well, relativity. Chu Yuanxi knows that this is a misunderstanding of many people, "Convenience stores are indeed fast-paced products, but users follow the experience, and places with good experiences are naturally worth allocating some more time." Today's users are like this, whether online or offline, the experience is the most important. As for the ping effect, the ping effect of the manufacturing demand is not directly reflected in the data, the air conditioning, automatic doors, and free chargers in the store will create demand, and the experience of this private space is the same. ”

When Chu Yuanxi said that "users allocate time according to experience, both online and offline", Hu Shiheng suddenly fell into contemplation, because today's mobile Internet has changed from a naked competition for users to a competition for users' time. For this reason, all the big factories do not hesitate to create the iron curtain ditch, encircle users in their own circles, use all means to fully kill the user's time, take these "corpses of time" as their own trophies, and turn them into wealth, and never leave them to competitors.

There has never been a historical stage where "time is money" has been interpreted so nakedly, which is the reason why Big Penguin is not afraid of Ali, and the reason why Toutiao is regarded as a fierce rival. The time devouring effect of the headline system is chasing in great strides, and it is swallowed raw, and it has been used by users for a long time, but it is not swallowed raw, in the past, only games would swallow the user's time, but it is also limited, and the time of several major information flow apps of the headline system to swallow users is like a black hole, which is not reasonable at all.

Hu Shiheng pretended to look around, but actually glanced at Chu Yuanxi, who was in command, with his spare eyes, and said in his heart that this person deserved to be a company with a valuation of 30 billion yuan in less than a year, and his understanding of the Internet field could not be said to be deep, and what he said was dry goods. So, what is the answer to this question? "If we all follow the experience, what about the cost performance?"

"Cost-effective, I divide users into two categories, one is called cost-effective, and the other is called experience-oriented. ”

This is the core problem of convenience stores, and it is also the most insightful area of Xiaokang. "If we all pursue cost-effectiveness, many business models cannot exist. Jingdong's things are more expensive than Taobao, why are so many people still buying? So for experiential users, cost performance is not a problem. Of course, cost performance itself is also one of the user experience, so I have prepared a set of economic internal circulation system, with a paying user system to meet the cost-effective users. ”

"Economic internal circulation, with the paying user system?

Seeing that Hu Shiheng didn't understand, Yuan Yu and Xu Xin looked at each other tacitly, and then laughed: "Old Hu, you don't play games, right?"

"I don't play games, but I do. Hu Shiheng is very proud and thinks he has a certain understanding of the game. Ran Goose ......

"I see that Xiaohu doesn't play games, Chu Yuanxi's economic cycle is simply the end of the routine of the domestic pit daddy online game, the pit players in the past, and the users in the future. Xu Xin said happily, "His routine is too deep, can you first understand the coupon system in his APP?"

Hu Shiheng said in his heart that it seems that I am not the only one who is confused, "This is also one of the main reasons why I came today, I just can't count this account, so I have to ask in person." ”

"Boss, I'll tell you. Chu Yuanxi leaned in and whispered: "The value of the existence of the well-off preferential system is to let people not settle their accounts. ”

Hu Shiheng said that this can't go on, in the past, the pit players and the future pit users, so today will pit me?

But talking about the system or something, it's really not something that should be talked about on this occasion, it should be talked about on the computer and documents, he is also a person who has started a business many times, this point B number is still there, this kind of field trip is really only suitable for talking about experience.

Therefore, the question changed again: "Mr. Chu, apart from the unfamiliar style, what else do you have to improve the experience, and when will this experience show its value?"

"That's a lot of it, from free chargers, free band-aids, etc., to oden robots, self-checkout, these can be regarded as improving the user experience. In my opinion, there are two things to do a convenience store, front-end user experience, back-end cost + efficiency. If you want to open a convenience store to improve these three places, you must focus, focus to pay attention to details, and you must continue to invest energy for a long time. As for embodying value...... After the formation of scale, the well-off form a scale effect is 1+1 much greater than 2. ”

"But I think some stores that are already very large, such as full-time, are shrinking now, and bigger is not always better. ”

"The scale of the well-off and the scale of others are not the same scale. We have bikes. Chu Yuanxi said very confidently, "Bicycles are not only a means of travel, but also obtain data, this data and the user's consumption data are very useful, our scale is based on data, after the formation of the network will form a kind of 'vector' data, not only the size, but also the direction." ”

Hu Shiheng said in his heart, is this bullying me, is math bad? But I am really bad at math! What the hell is a vector? Next question!

At this time, Xu Xin relieved him: "Xiaohu, tell me why you don't open the door, I remember you said before that you will also consider opening the door." ”

"Invest maybe still invest a little, financial attributes. Hu Shiheng nodded to Xu Xin, "The way the opener plays is similar to that of a supermarket, I think about it, but it is still unattractive." ”

"Why, how high is the unit price of the supermarket?"

"Yes, the unit price of supermarkets is high, but the performance is generally average, and large-scale store closures abound. The unit price of convenience stores is super low, but look at how many people in our circle want to invest in convenience stores now?

Hu Shiheng sighed and continued: "The growth rate will not deceive, and the growth rate of the convenience store industry is highly attractive in the current overall environment." In fact, there were already signs last year, the tide receded, and only those who still maintained the growth rate did not swim naked. I don't know where the dividends come from or why, but the result is that there are trend dividends to support the convenience store track. Mr. Chu's cross-border convenience store is abrupt for many people, anyway, I was amazing from the beginning, but Yuan Jing didn't invite me to the roadshow, which made me very disappointed. ”

Yuan Yu shrank his neck, and said in his heart that this pot should be Chu Yuan Xida, and he will release that little share, the wolf has more meat and less meat. Besides, my brother still spit out to me, it's too difficult to serve him, who knew that he would put forward so many conditions for the qualifications of investors later......

Xu Xin is very clear that for a long time, the investment circle's views on convenience stores have been "serious homogeneity, low cost performance, and limited goods categories", in short, lack of investment value.

But not optimistic about it, not optimistic, to this year, most of the convenience stores have begun to make a profit, at this time people who want to invest in it are more embarrassed, because they did not copy to the end, and then they must chase up.

Therefore, during this period of time, the difficulty of her relationship was not as high as Chu Yuanxi imagined, and although the valuation required by the well-off investment was relatively high, it had begun to operate in an orderly manner, showing that it was still a good cost performance.

But the embarrassing thing is that investors are basically oil hammer empowerment thinking, first look at the size of the track and then look at the trend dividend, so the blindness is actually very large, and suddenly see that the GMV of a certain track is higher than expected, and the first reaction is to panic. Why is the data so high? Where is the logic of growth? Why do others vote?