• 2020Archives

Year: 2020

DayDayUp News

Post Covid Opportunities in China: How a Chinese Influencer Sold ￥3 billion Worth of Goods in 1 Day

We at DayDayUp have decided to publish more frequently about our observation on the post Covid-19 opportunities in China and share mainly with our audience in Singapore. Our CEO Mr. Bo Yiqun will share his and insights on “Post Pandemic New Retail” in a series of short analysis on different topics. Since we are working with Enterprise Singapore (ESG) and Zhongguancun Science Park (Z-Park) for the purpose of helping Singaporean companies connect with China market. We are sure that his insights and our series of posts will excite your curiosity and knowledge. If you wish to add to his insight and/or ask  questions, you can always contact us via marketing@dduwork.com

Mr. Bo Yiqun was invited by SG Innovation Community Day 2020 to speak on 03/07/2020 at the session of Strategies for Borderless Growth in the time of COVID-19. Below is the summary of his  insights.

In May Chinese government released the annual Government Work Report which highlighted two key words clearly showing the market trends and opportunities, New Infrastructure, and New Consumption. Below is the summary of my ideas on opportunities from New Consumption. New Infrastructure will be discussed in the next post.

New Consumption, as a newly formed concept in China, could be simply understood as internet-driven consumption.

Two weeks ago, one June 18, the second largest online shopping festival in China, invented by JD, successfully closed up. RMB 269 billion was generated on JD.com (1 Jun ~ 18 Jun), with 33% growth YoY. If we count Alibaba and other major e-commerce platforms in China, a total GMV of RMB 1 trillion was generated during that festival!

Source: JD.com, WalktheChat

Leading e-commerce platforms that you need to know:

  • Tmall (Alibaba) – RMB 698 billion during “618 festival”, 160% growth YoY
  • Pinduoduo (Nasdaq: PDD) – founded in 2015, #2 e-commerce platform in China in terms of Market Cap (USD 111 billion, 2 Jul)
  • com (SZ: 2024) – Market Cap at RMB 111 billion on 2 Jul / 1,400 supermarkets, best case from offline to online
  • com (Xiaomi) – RMB 10 billion during “618 festival”, a closed platform for products in Xiaomo ecosystem only
  • VIpshop or VIP.com (NYSE: VIPS) – Market Cap at USD 13.7 billion, the 1st online discount sales model in China
  • Xiaohongshu (RED) – USD 6 billion’s unicorn, 7 years, 300 million users, favorite social e-commerce platform of girls (80% of user are female)
  • 163.com – e-commerce platform of NetEase (Nasdaq: NTES), market cap at USD 59 billion

Another example of New Consumption is livestream e-commerce which is a new online shopping method largely driven by the pandemic. Viya who is the top level internet influencer in China, invited Kim Kardashian in her livestream show, and just in 5 minutes, they sold 15,000 bottles of perfume. And her record of online sales in one day in her livestream studio is 3 billion Yuan, which is even more than a regular shopping mall one year’s revenue. As China’s livestreem platforms are booming, tens of thousands of consumer brands have been saved by this new online shopping method, especially during the pandemic.

Photo source: Tmall

Leading e-commerce platforms that you need to know:

  • Douyin – DAU (daily active user) over 400 million, #1 micro video platform in China, developed by ByteDance, Top 3 unicorn in the world with valuation of USD 100 billion
  • Kuaishou – DAU  over 400 million, main competitor of Douyin, Pre-IPO valuation at USD 25 billion
  • Taobao (Alibaba) – the 1st livestream e-commerce platform in China, Viya’s working palace!
  • Tencent – Tencent is Tencent! (HKG: 0700), market cap at USD 646 billion, same as Facebook, larger than Alibaba

If you have your own consumer product brand, you need to look at how China is taking advantage of  the “New Consumption” trends. You MUST consider selling your product in China’s new retail platforms, and you may get some unbelievable results.

One post is definitely NOT enough! If you are interested in this topic. I recommend you to join our “Post Pandemic New Retail in China Programme“. This programme covers topics from China’s e-commerce, micro-videos/live streaming, social commerce, to digital marketing, from corporate brand positioning to new marketing and delivery channels, this course comprehensively analyzes how traditional retail can retaliate with a counter-strike against the epidemic dead-end. One more great news is, thanks to our partnership with Z-Park (in Beijing, 1st science park in China, managed by Beijing government), that ALL Singaporean companies will receive Z-grant, 70% funding support by Z-Park! For more info about the Post Pandemic New Retail in China Programme, please visit our E-learning system here. 

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DayDayUp News

Job Positions: In Singapore

Job Position: Head of Community & Growth

Location: Singapore
Commencement date: ASAP

About Company:

Headquartered in Beijing, as a Partner of Enterprise Singapore’s Global Innovation Alliance (GIA) & Zhongguancun Science Park (Z-Park), DayDayUp is committed to connecting Chinese and global innovators. In the past 4 years DayDayUp has accelerated more than 150 startups, 70% of which were international. DayDayUp Pte Ltd. is a subsidiary of DayDayUp in Singapore.

On November 13th 2019, under the witness of Singapore’s Deputy Prime Minister, Mr. Heng Swee Keat, Enterprise Singapore (ESG) announced the partnership with DayDayUp as their GIA partner in Beijing. This is to help Singapore companies expand into the Chinese market and for Chinese companies to come into Singapore!

In June 2020, DayDayUp signed a partnership contract with Z-Park, to become The Official Representative of Z-Park in Singapore. The goal of this partnership is to assist Singapore startups, companies and talents to expand into Chinese market.

For more info about DayDayUp, please visit: https://www.dduwork.com

Job Responsibilities:

  1. Buildup the company branding as “China-Singapore innovation Hub”.
  2. Make deal-orientedsuccess stories on China Singapore innovation 
  3. Developand maintain relations with all type of market players in the ecosystem in Singapore including and but not limited by startups, investors, media, government authorities, universities, research institutes, industry organizations, 
  4. Ensure customer satisfaction from both Chinaand Singapore 
  5. Establish Singapore innovation database using company’s CRM system.
  6. Makemarket research following the company’s industry focuses, and customer needs, produce analysis reports
  7. Identify the best Singaporean startups that match customer needs from China.
  8. Workwith HQ on product strategy, business model practicing, and business coordination.
  9. Implementcompany products and services, including but not limited by running startup acceleration program, ESG-funded GIA Acceleration Programme that will assist Singapore tech startups access China.

Requirements

  1. Must be Singaporean or Singapore PR
  2. Be passionate at connecting China and Singapore innovations
  3. Rich experiencein both China and Singapore’s working environment
  4. Morethan five years professional experience in technology, business development, sales, international trade, or industry organization
  5. Team management experiencewith proven performance
  6. Be connectedin Singapore innovation ecosystem
  7. Proficient in both English and Mandarin. Candidates with strong Chinese command are preferred.
  8. Result-oriented

Apply: https://jinshuju.net/f/kaP3LM

 

Job Position: Innovation Program Specialist (Full Time and/or Intern)

Location: Singapore
Number of Available Vacancies: 2
Commencement date: ASAP​

About Company:

Headquartered in Beijing, as a Partner of Enterprise Singapore’s Global Innovation Alliance (GIA) & Zhongguancun Science Park (Z-Park), DayDayUp is committed to connecting Chinese and global innovators. In the past 4 years DayDayUp has accelerated more than 150 startups, 70% of which were international. DayDayUp Pte Ltd. is a subsidiary of DayDayUp in Singapore.

On November 13th 2019, under the witness of Singapore’s Deputy Prime Minister, Mr. Heng Swee Keat, Enterprise Singapore (ESG) announced the partnership with DayDayUp as their GIA partner in Beijing. This is to help Singapore companies expand into the Chinese market and for Chinese companies to come into Singapore!

In June 2020, DayDayUp signed a partnership contract with Z-Park, to become The Official Representative of Z-Park in Singapore. The goal of this partnership is to assist Singapore startups, companies and talents to expand into Chinese market.

For more info about DayDayUp, please visit: https://www.dduwork.com

Job Responsibilities:

Project planning & implementation

  1. Develop and maintain relations with key organizations in Singapore’s innovation ecosystem, like university, research institute, government authorities, media, corporate, startups, investors, etc.
  2. Support understanding and clarifying Singaporean customer needs
  3. Assist one managing business relations with event speakers and program mentors
  4. Help project manager on project schedule management
  5. Assist in Chinese English translation
  6. Assist in organizing online and/or offline events

Sales & marketing support

  1. Market company’s product and service to international market, especially Singaporean and Southeast Asian markets.
  2. Perform market research based on company’s product strategy.
  3. Develop international marketing channels, and international media relation
  4. Supportcompany’s international social networks maintenance, like Facebook, Linkedin, etc.
  5. Usecompany’s EDM system as a tool of marketing
  6. Update and maintain company’s CRM system
  7. Broaden and increase company’s international audience group

Requirements

  1. Open to both Students (6 months internship) and Graduates
  2. Must be Singaporean or Singapore PR
  3. Full passion on the innovation ecosystem
  4. Strong capability to conduct extensive business research in an autonomous manner
  5. Analyticapproach to solving problems
  6. Pro-active and sense of initiative
  7. Solution-oriented and optimistic
  8. Proficient in both English and Mandarin. Candidates with strong Chinese command are preferred.

Apply: https://jinshuju.net/f/HgdLMB

DayDayUp News

Job Position: Innovation Program Specialist Intern

Job Position: Innovation Program Specialist Intern (Full Time and/or Intern)

Location: Beijing, China
Number of Available Vacancies: 2
Commencement date: ASAP

About Company:

Headquartered in Beijing, as a Partner of Enterprise Singapore’s Global Innovation Alliance (GIA) & Zhongguancun Science Park (Z-Park), DayDayUp is committed to connecting Chinese and global innovators. In the past 4 years DayDayUp has accelerated more than 150 startups, 70% of which were international. DayDayUp Pte Ltd. is a subsidiary of DayDayUp in Singapore.

On November 13th 2019, under the witness of Singapore’s Deputy Prime Minister, Mr. Heng Swee Keat, Enterprise Singapore (ESG) announced the partnership with DayDayUp as their GIA partner in Beijing. This is to help Singapore companies expand into the Chinese market and for Chinese companies to come into Singapore!

In June 2020, DayDayUp signed a partnership contract with Z-Park, to become The Official Representative of Z-Park in Singapore. The goal of this partnership is to assist Singapore startups, companies and talents to expand into Chinese market.

For more info about DayDayUp, please visit: https://www.dduwork.com

Job Responsibilities:

Project planning & implementation

  1. Develop and maintain relations with key organizations in Singapore’s innovation ecosystem, like university, research institute, government authorities, media, corporate, startups, investors, etc.
  2. Support understanding and clarifying Singaporean customer needs
  3. Assist one managing business relations with event speakers and program mentors
  4. Help project manager on project schedule management
  5. Assist in Chinese English translation
  6. Assist in organizing online and/or offline events

Sales & marketing support

  1. Market company’s product and service to international market, especially Singaporean and Southeast Asian markets.
  2. Perform market research based on company’s product strategy.
  3. Develop international marketing channels, and international media relation
  4. Supportcompany’s international social networks maintenance, like Facebook, Linkedin, etc.
  5. Usecompany’s EDM system as a tool of marketing
  6. Update and maintain company’s CRM system
  7. Broaden and increase company’s international audience group

Requirements

  1. Open to both Students (6 months internship) and Graduates
  2. Must be Singaporean or Singapore PR
  3. Full passion on the innovation ecosystem
  4. Strong capability to conduct extensive business research in an autonomous manner
  5. Analyticapproach to solving problems
  6. Pro-active and sense of initiative
  7. Solution-oriented and optimistic
  8. Proficient in both English and Mandarin. Candidates with strong Chinese command are preferred.

Apply: https://jinshuju.net/f/HgdLMB