September 30th, midnight.
After a full 24-hour promotion, Taobao's final one-day sales were fixed at 8.22 billion yuan.
For the internet industry, this was definitely a terrifying number!
More than ten million users placed orders, and the average consumption of a single user exceeded 800 yuan. This was another incredible figure.
At midnight, the entire Taobao website was in an uproar. All the employees who had fought so far were celebrating this huge victory. Even the usually calm Li Mu was stunned by this number.
Li Mu didn't have any data in his mind that could reflect the spending power of Hua Xia's consumers in 2002. However, his Taobao website, which was countless times more mature than its competitors in history, successfully sparked a nationwide online shopping boom in 2002.
Throughout the entire event, Taobao website brought real discounts to consumers all over the country. Whether it was daily necessities, daily clothing, or even office stationery, all the event goods were at unprecedented discounts.
It could be said that Li Mu used a day to successfully overdraft the demand of tens of millions of users for daily necessities.
Fortunately, there were more than a billion people in the country and hundreds of millions of urban residents. His overdraft would not have a huge impact on the demand of the entire urban population for daily necessities.
Also at midnight, YY website announced the sales data of Taobao website's 929 promotion to netizens all over the country. The entire internet was shocked!
Not only the netizens, but even the editors of other websites, reporters, and staff of major media couldn't believe it!
Although it was 12 o 'clock in the morning, there was still a huge discussion on the internet. Almost every news about Taobao 929's sales of 8.22 billion yuan was followed by countless netizens discussing:
"How can Taobao's sales be so high in a day?!"
"That's too much of an exaggeration. Why don't they say 10 billion?"
How much did Taobao sell? "
"A website sold 8.22 billion worth of goods in a day! What else can I say other than crazy? "
There were also many netizens who expressed:
"Is 8.22 billion a lot? Our family bought more than 3,000 yuan worth of goods at Taobao today. "
"I've placed eight orders today. Four for my family and four for my neighbors. I'm waiting for the goods!"
"My mom bought a year's supply of washing powder and shampoo! I support Taobao! "
"Online shopping is so convenient. In the future, as long as it's something that can be bought online, I won't go to a physical store!"
Li Mu rationally analyzed several reasons why the big promotion could achieve such high sales.
Firstly, the scale of the publicity was huge. The lineup of 18 celebrities could be said to be unprecedented in corporate publicity in recent years.
Secondly, the discounts were great. Taobao had cooperated with so many well-known daily department stores to launch a discount plan that consumers had never seen before. Naturally, consumers would flock to it.
Thirdly, the promotion model was novel. All kinds of promotion methods of full reduction coupons allowed users to continuously pay. Among the sales of 8.22 billion yuan, a considerable part of it actually belonged to consumers who had overbought.
Fourthly, the competitors were weak. Le Taobao completely screwed up this time. Basically, it was doomed to the fate of being on the street when it went online. The other e-commerce platforms did not even dare to follow up, let alone compete. Taobao was completely in a detached state of being alone and seeking defeat.
This promotion was a great success. It was very important for the next step of Taobao's development. What Li Mu cared about was not how amazing the figure of 8.22 billion was. What he cared about was that through the influence of this promotion, the new consumption form of "online shopping" was really implanted into the daily lives of consumers.
How many consumers could take this opportunity to understand online shopping and become online shoppers?
How many online shoppers could become in-depth online shoppers through this promotion?
More new users and more in-depth users were the key indicators to increase the overall volume of Taobao. Therefore, for Li Mu, the real significance of this promotion was on these two points.
…
Just as Taobao was celebrating the victory and discussing enthusiastically on the Internet, Boss Ma, who was far away in Hangzhou, was extremely depressed.
In the past 24 hours, the total sales of Le Taobao was only a pitiful 18 million.
Behind this 18 million RMB was the collaboration of several companies and the support of more than 16 million RMB of publicity budget. Just the overall investment of the campaign alone was more than 20 million RMB. In the end, the sales were not even as high as the overall investment. This was an extreme failure.
At this moment, Boss Ma looked at the news of Taobao's daily sales of 8.22 billion and then looked at his own platform's sales data of 18 million. He was extremely depressed. This time, he kept repeating two words in his heart, "Lost! Lost! "
Indeed, he lost!
From the beginning, he was suppressed by Li Mu. It was like a bombardment of attacks. Boss Ma did not have a chance to catch his breath.
In addition, Sun Zhengyi and Amazon gave up at the last minute, leaving Boss Ma in an isolated situation. He knew very well that Le Taobao had lost this time. In the future, these two companies would not invest a single cent in Le Taobao.
What made Boss Ma feel the most painful was that he did not know what to do next.
When everyone was extremely depressed, Boss Ma returned to his office silently. He sat down on the office chair and thought about his next step.
When Le Taobao was established, SoftBank and Amazon invested a sum of money respectively. Although the actual investment was only a part of the promised investment, the real scale of funds in Le Taobao's account was more than 10 million USD. At present, there were still a few million USD left. It was all of Le Taobao's current assets.
At present, Boss Ma had two choices: either give up on Le Taobao and the shareholders start to liquidate. In the end, everyone would divide the remaining money in the account and the company would declare bankruptcy; or, hold on with these few million USD and find other opportunities. When the money was spent, the company would be completely finished.
For Boss Ma, he was definitely unwilling to do the first choice. However, if the two investors decided to do so, then he could only respect the investors' request.
As for the second choice, it also made Boss Ma hesitate. If SoftBank and Amazon were not going to liquidate, then these few million USD might be his last fight in the 2C retail industry.
From the bottom of his heart, Boss Ma still hoped to continue to hold on. He was a person who did not admit defeat, and he had a natural hatred for people who beat him. Li Mu had slapped his face several times, which had made him regard Li Mu as a lifelong enemy in his heart. If he completely accepted defeat at this time, then he was afraid that he would lose the opportunity to defeat Li Mu in this life.
However, Boss Ma also knew very well that Li Mu had now grown to such a scale. Even if he fought again, it would be difficult to find an entry point to compete with Li Mu. In other words, even if Le Taobao continued to hold on, the future was uncertain.
Just as Boss Ma sighed, Lu Zhaoxi knocked on the door and came in. Looking at the dejected Boss Ma, he sighed and said, "Boss Ma, I just thought about Le Taobao's next step. I have some general ideas that I want to discuss with you."
Boss Ma nodded gently, "Sit down and talk."
Lu Zhaoxi sat down in front of Boss Ma and said, "I think we chose the wrong direction from the beginning."
Boss Ma could not help but frown, "Zhaoxi, why do you say that?"
Lu Zhaoxi said, "The 2C business is the core of e-commerce retail. There is no doubt about this. But we shouldn't have seen Taobao's Brand Day doing well, so we couldn't help but go astray."
Speaking of this, Lu Zhaoxi saw Boss Ma's solemn expression, so he explained, "Boss Ma, what we are doing now is more like B2C, not what Li Mu is best at. Whether it is the Brand Day or the 929 promotion, the core of his success is the in-depth cooperation with the brand companies. This is what we are extremely lacking. In other words, if we continue to go against Taobao in the B2C field, Li Mu will always crush us. Instead of this, why don't we avoid his edge and choose the C2C field that he doesn't pay much attention to?"
Boss Ma was silent for a moment, "You mean to completely give up on B2C and become a C2C platform that only serves small and medium-sized sellers?"
Lu Zhaoxi nodded and said, "That's right! Think about it. Taobao's energy is mostly on the brand companies, but I believe that most Hua Xia consumers will prefer to choose small brands or unbranded products, especially clothing, due to the comprehensive consideration of cost-effectiveness and other aspects. "
"Hangzhou's Sijiqing Wholesale Market sells millions of clothes every day. These clothes come from various small clothing enterprises in Hangzhou to Sijiqing Wholesale Market and then from Sijiqing to clothing stores all over the country. Compared to branded clothing, this batch of clothing accounts for a larger proportion of the total clothing consumption. There are no less than a million small and medium-sized clothing stores in the country. Every store owner is a potential small and medium-sized seller. They have sources of goods and physical stores, but physical stores can only cover the small area they are in. If they open an online store in Letao, they will have the opportunity to cover the whole country. Moreover, opening an online store does not have any additional costs. One computer is enough. Why not?"
Boss Ma thought very seriously about what Lu Zhaoxi said, and his eyes couldn't help but light up!
What Lu Zhaoxi said was very reasonable. Taobao won in close cooperation with the brand companies. He was obsessed and chose to go against Li Mu at the level that he was best at. He was destined to fail.
However, putting aside the brand, in fact, the non-brand middle and low-end products were a larger market. If the owners of the small and medium-sized clothing stores in the country could be transformed into the owners of Letao, it was also a brand-new development opportunity for Letao.
Even if Letao was developed into Sijiqing in the e-commerce field, it would be much clearer than its current position, and it would have a higher chance of success.
Immediately, Boss Ma immediately cheered up and asked Lu Zhaoxi, "What you said is a very good idea, but the first thing is to quickly investigate the small and medium-sized sellers on Taobao. Taobao has many users and a lot of traffic. Even if they don't actively support the small and medium-sized sellers, the small and medium-sized sellers should have a certain profit margin. First, we will look at the development of Taobao's small and medium-sized sellers. It would be best if we can poach a group of them and let them open a store on Letao at the same time as Taobao. For them, opening stores on both sides doesn't require additional costs at all, and it can increase their income. Why not?"
Lu Zhaoxi nodded, "I will immediately investigate the specific situation of Taobao's small and medium-sized sellers and make a detailed investigation report as soon as possible."
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