V-MORE (02013) officially joins the Douyin group-buying platform, expanding its business territory

Recently, the smart retail and microshopping solutions under Weimeng (02013) have officially joined the Douyin group buying. After the cooperation is implemented, Weimeng can achieve information association based on the integration with Douyin's visitor platform, and the group buying coupons created by Weimeng can be displayed on the Douyin mini program for consumers to purchase and redeem in-store, thereby connecting Wuxi Online Offline Communication Information Technology Co., Ltd. scene and empowering businesses to receive and operate public domain traffic. The person in charge of Weimeng said that this cooperation means that the channel scope of business's comprehensive operation can continue to be extended. Since group buying coupons are more suitable for local life scenes, Weimeng will focus on empowering businesses in the retail, baking, and catering industries after joining Douyin's group buying. It is understood that some leading food companies have already joined this function as the first batch of test merchants. Choosing "group buying" as the breakthrough to enter Douyin's public domain is a clever way for Weimeng to help businesses enter the market. The "local life" behind the group buying model is one of the markets that Internet giants are most concerned about at present, and it is the right time for businesses engaged in comprehensive operation to enter the market. Data shows that in 2022, the order volume of Douyin's life service increased by 965% compared to the previous year. In just the "explore store" category, it increased revenue for businesses by 29.5 billion yuan, a year-on-year increase of 737%. However, before embracing the public domain traffic of Douyin, Weimeng needs to solve several practical problems for businesses. For example, how to serve customers after they arrive at the store in order to make the one-time verification of coupons the beginning of a long-term interaction between the brand and the user? How can the headquarters timely grasp the situation of Douyin traffic and store services in the backend for analysis and optimization? In response to this, Weimeng focuses on three directions to provide key solutions. Firstly, when consumers show interest in services or products, with their authorization, the platform can record their contact information and other basic information, providing opportunities for subsequent communication. Secondly, after arriving at the store, the store can invite consumers to register as members and convert public domain customers into store domain customers. Finally, relevant business data and member information will be accumulated as the brand's data assets, providing real-time analysis for the brand and guiding subsequent operational optimization to achieve a closed loop. As a provider of intelligent business services, Weimeng has always started from the perspective of businesses, focusing on enterprise brands, expanding multi-channel business scenes, and providing integrated intelligent business solutions. It is understood that Weimeng has currently connected with platforms such as WeChat, Douyin, Xiaohongshu, Alipay, Baidu, and Mobile QQ through mini-programs and other forms, establishing an operational and transactional closed-loop on multiple platforms. According to the financial report data for the first half of 2023 disclosed by Weimeng recently, the total revenue of Weimeng in the first half of 2023 reached 1.21 billion yuan, a year-on-year increase of 34.5%. The company's main SaaS business has achieved growth, with subscription solution revenue reaching 706 million yuan, a year-on-year increase of 21.4%, and gross profit increasing by 36.6% year-on-year to 816 million yuan. Behind the continuous growth, Weimeng's customers account for 48% of the top 100 fashionable retail companies in the domestic market, 43% for the top 100 commercial real estate companies, and 40% for the top 100 chain convenience stores. Currently, more and more retail brands are choosing Weimeng's smart retail as their preferred option, and Weimeng is also becoming the preferred partner for digital transformation of group-level customers and top 100 customers in various industries.