In a new industry to do better by the day as the EC, on the quality of the race like this is very important. And in the end, benefit the most people, it is the consumers Vietnam.
The e-commerce site is about 157 billion Tiki.vn loss since the investment of VNG after 8 months of operation is not an unexpected information with people who do ecommerce. Most companies operating in this industry understands that investing is to accept losses in the initial period.
Tiki.vn losses actually not small nor large. It is equivalent to the amount Lingo.vn have to accept losses and closures. However, the case of differences with Lingo Tiki in place, the financial potential of this startup stronger, especially after funding VNG.
No need too worry about “burning” money, Tiki focused on expanding the system.
Tran Ngoc Tai, CEO of Tiki stressed, Tiki is used very strong focus on cash 3 factors:
– Firstly, the scale of the increase in e-commerce sites.
In terms of sales, orders Tiki successfully transferred to bid farewell to the guests increased by 3-4 times in the past 1 year.
In terms of product portfolio, instead of positioning is to sell books online as before, Tiki has expanded to sell 100,000 300,000 products and product now.
– Second, the fastest delivery speed, service quality improved significantly.
Specifically, CEO Tran Ngoc Thai Son who insisted: “The average delivery time of Tiki 2.8 days nationally, compared with e-commerce company diversified we believe that the current speed delivery in Tiki is number 1 “.
Even when comparing the speed of delivery to large e-commerce companies in the market such as India, the CEO said that Tiki is doing quite well (4.5 days Flipkart, Amazon India 4.8 days).
– Third, maintain customer loyalty.
Regarding quality of service, Tiki.vn said postpaid conversion ratio receiving only 1%, a figure that “dream” for any retailer, online or offline does.
In addition, the monthly rate of Tiki NPS reaches from 81-83 (Net Promoter Score – a classic indicator shows that customers are willing to introduce the brand to friends or not), as well as very high rates , on par with the first retail company’s outstanding US Costco (NPS 82).
Basically, the “burning money” Tiki damaging of this business in the first time, but it brings about positive effects for the entire e-commerce industry. It shows that even though e-commerce market is very difficult, but the companies have yet to abandon determination.
With good statistics from Tiki, other companies in the market such as Sendo Lazada or understand that, they also have to develop a similar system to be able to better compete with Tiki. Of course, the e-marketplace has also been “burned” not less money to fight heart to win customers.
Truong Gia Binh, in a recent interview on Bloomberg, confirmed by 2020 the total value of transactions through the floor of the FPT Sendo will reach $ 1 billion. To achieve this goal, FPT also have to be prepared for problems than expensive investment. Lazada, before the hand Alibaba has invested heavily in the Vietnam market, but to continue to maintain its position, the “pouring money” into almost mandatory.
In a new industry to do better by the day as the EC, on the quality of the race like this always occurs, and finally, only the best companies are included as a dominant market share. And of course, in the game’s competitive enterprises, who benefit most, none other customers.