Daily Fresh Product Analysis

MissFresh is a mobile e-commerce company that focuses on high-quality fresh produce, providing product delivery and services including fruits and vegetables, seafood, meat and poultry, milk and snacks. A rapid cold chain logistics system of "city sorting center + community forward warehouse" has been established in more than 20 major cities across the country, providing users with self-operated selected fresh food delivery services in as fast as 30 minutes.

MissFresh was founded in 2014. The following year, MissFresh received a US$10 million Series A financing round led by Tencent. On October 21, 2019, Hurun Research Institute released the "2019 Hurun Global Unicorn List", and MissFresh ranked 84th. On July 23, 2020, MissFresh announced the completion of a new round of financing of US$495 million, which is currently the largest financing in the fresh food e-commerce industry. This huge amount of financing has once again pushed MissFresh to the forefront.

As a loyal user of Daily Youxian, I will analyze the reasons for Daily Youxian's rapid development from the following aspects:

1. Industry Analysis
2. Competitive product analysis
3. User Value Analysis
4. Business value analysis
5. Product Iteration Analysis
6. Product structure analysis
7. Operational Analysis
8. Summarize

1. Industry Analysis

Fresh product e-commerce, referred to as fresh food e-commerce, refers to the direct sale of fresh products such as fresh fruits, vegetables and meat on the Internet through e-commerce. In recent years, fresh food e-commerce has developed rapidly with the support of capital, and various e-commerce platforms have sprung up like mushrooms after a rain.

Why is the fresh food e-commerce industry developing so rapidly? Below I will analyze from a macro level using the PEST model.

1.1 Politics

In 2017, the Ministry of Commerce issued the "Notice of the Agricultural Development Bank of China on Jointly Promoting the Construction of Agricultural Products and Rural Market Systems", supporting the construction of agricultural product markets and warehousing and logistics facilities, the construction of public welfare agricultural product market systems, and the construction and development of agricultural product cold chain logistics systems.

In 2018, the Ministry of Commerce, the Ministry of Industry and Information Technology and eight other departments issued the "Notice on Carrying out Supply Chain Innovation and Application Pilots", proposing to establish and improve the agricultural supply chain, combine local characteristic agriculture, give priority to important products such as grain, fruits and vegetables, tea, medicinal materials, dairy products, eggs, meat, aquatic products, and wine, based on regional characteristics and advantages, give full play to the demonstration and leading role of leading agricultural industrialization enterprises, and build a complete green and traceable agricultural supply chain system with interconnected links in all links of the entire industrial chain.

The 2019 "Notice on Promoting the Interconnection between Farmers and Merchants to Improve the Agricultural Products Supply Chain" clearly stipulates that the proportion of central fiscal funds in various regions to support post-harvest commercial processing facilities and cold chain logistics of agricultural products must not be less than 70%. Central government financial support will be provided to improve the circulation of agricultural products.

The government has issued a series of support policies for agricultural products and supply chain construction. On the one hand, this has stabilized the source of commodity supply for the fresh food e-commerce industry. On the other hand, it has prompted it to build a convenient and fast cold chain logistics system, laying a good policy foundation for the development of the fresh food e-commerce industry.

1.2 Economy

2012 was the first year of the development of China's fresh food e-commerce industry, and it began to enter people's field of vision with "Benlai Life" as the leader. From 2013 to 2020, China's fresh food e-commerce industry has developed rapidly, which of course is inseparable from the rapid development of China's economy and the improvement of people's income levels.

According to the "2019 China Economic Development Report" released by McKinsey Global Institute, China has become the world's largest economy in 2014, calculated by purchasing power parity. Calculated in terms of nominal GDP, China reached 66% of that of the United States in 2018, becoming the world's second largest economy.

McKinsey Global Institute ranked the participation of various economies based on the flow of goods, services, finance, people and data, and the results showed that China ranked 9th in the world. In 2018, China's GDP accounted for about 16% of the global total.

The economy is the foundation. The rapid development of China's economy has led to a continuous increase in people's disposable income and changed their shopping habits. Shopping needs for daily fresh food have also changed. While considering the freshness of the product, people also begin to consider the time cost and convenience of purchase, which provides an economic basis for the development of fresh food e-commerce.

1.3 Society

Consumption upgrading and changes in people’s purchasing habits. In the past, people mainly bought fresh products from supermarkets and wet markets, usually in the morning before going to work or in the evening after getting off work. The main considerations for buying fresh products were distance and the freshness of the product.

However, with the continuous development of the economy, people have more and more money in their hands, but less and less free time, especially for white-collar workers working in first- and second-tier cities. Due to their busy work, they have no time to go to supermarkets or vegetable markets to buy fresh products, but they pursue quality of life and want to cook at home. This is the social reason for the booming fresh food e-commerce industry, because it meets people's needs for saving time and ensuring quality of fresh food products after consumption upgrades.

1.4 Technology

Fresh food has extremely high requirements for logistics and distribution. It is necessary to keep the food fresh while ensuring the speed of delivery, which requires the use of cold chain logistics for distribution.

As shown in the above figure, the scale of China's cold chain logistics has been growing steadily from 2015 to 2020. However, it can also be seen that due to the rapid development of the fresh food e-commerce industry, the scale of China's cold chain logistics is still unable to fully meet the cold chain demand for China's fresh products, so there is still a lot of room for development of China's cold chain logistics in the future. The development of refrigeration technology and cold chain logistics is an indispensable technical support for the development of China's fresh food e-commerce industry.

The rapid development of mobile Internet has made the growth and development of fresh food e-commerce possible. By the end of 2019, China's mobile Internet users reached 1.319 billion, accounting for 32.17% of the world's total Internet users. The transaction volume of online payment reached 24.988 trillion yuan, and the penetration rate of mobile payment is at the world's leading level.

All of the above factors have driven the rapid development of China's fresh food e-commerce industry. So what will be the development trend of this industry in the next few years? Is there enough room for development?

According to iResearch Consulting's 2020 "China Fresh Food E-commerce Industry Research Report", the transaction volume of China's fresh food e-commerce market has been steadily increasing year by year from 2015 to 2020. In 2019, the market transaction scale of China's fresh food e-commerce industry reached 279.62 billion yuan, an increase of 36.7% over the previous year. In 2020, due to the sudden outbreak of the epidemic, a large number of users flocked to fresh food e-commerce platforms, bringing new development opportunities to fresh food e-commerce. It is estimated that by 2023, the transaction volume of the fresh food market will exceed 800 billion.

Data from the China Statistical Yearbook show that the total consumption of fresh food by residents nationwide increased from 312 million tons in 2014 to 332 million tons in 2018, with a compound annual growth rate of 1.6%. According to statistics on the classified transaction volume of food trading market stalls with a turnover of more than 100 million yuan, the transaction scale of major fresh food categories in my country increased from 21 trillion yuan in 2014 to 26 trillion yuan in 2018, with a compound annual growth rate of 5.5%.

Summary: As mentioned above, China's current fresh food consumption market is huge. China's fresh food e-commerce industry is still in a period of rapid development and is deeply favored by the capital market. There is still a lot of room for development in the future.

2. Enterprise Analysis

The above mainly analyzes the product MissFresh from a macro perspective. Now I will use the SWOT analysis method to analyze MissFresh from four aspects: the strengths and weaknesses of the company itself, as well as the opportunities and threats brought to it by the external environment.

2.1 Strengths

Daily Fresh's competitive advantages mainly include the following aspects:

2.1.1 Rich product categories and guaranteed safety

With 2,000 selected SKUs, MissFresh's products cover 12 major categories including fruits and vegetables, meat, eggs, aquatic products, dairy snacks, wine and beverages, grains, oils and seasonings, and daily necessities. This "comprehensive supermarket model" truly allows users to achieve one-stop shopping.

In terms of product quality, MissFresh has hundreds of professional buyers who source directly from the origin in more than 30 countries and regions around the world, ensuring the high quality of products from the source. In terms of food safety, MissFresh has a third-party authoritative organization on-site to test each batch of products and comprehensively upgrade the product quality control system. From fresh produce, fruits and vegetables to grains and oils, all products are subject to level-by-level checks by a professional quality control team before and after entering storage to ensure the safety of each ingredient.

2.1.2 The pioneer of forward warehouse, no delivery delay

As the pioneer of the "city sorting center + community forward warehouse" ultra-fast cold chain logistics system, MissFresh is also an industry-leading company in logistics and distribution. In addition to the four sorting centers in North China, East China, South China and Central China, MissFresh has established more than 1,700 community distribution centers in 16 cities across the country, ensuring that the stations can reach users within 3 kilometers. The entire delivery process is completed by its own personnel, and delivery can be achieved in as fast as 30 minutes. The forward warehouse has become the core competitiveness of MissFresh. According to the vision of MissFresh at the Supply Chain Ecology Conference on September 17, in the future there will be 3,000 SKUs in forward warehouses and 30,000 SKUs in large warehouses. Within three years, the forward warehouse model will be deepened and thoroughly implemented in the TOP30 cities. When everyone clicks on the MissFresh APP, the products they see are precisely recommended to them, realizing "thousands of warehouses, thousands of people, and millions of faces."

2.1.3 Perfect after-sales service, shopping is guaranteed

In terms of after-sales service, MissFresh adopts a combination of AI intelligence and manual customer service. Users can make refunds, apply for invoices and file complaints by themselves. If the problem is more complicated, you can call the manual customer service during the period of 9:00-23:00. This after-sales method that combines the two can not only quickly solve common simple problems of users but also reduce the customer service costs of the platform. After each order is completed, users can also leave comments so that other potential buyers can have a comprehensive and accurate understanding of the product information.

2.1.4 Various operation modes and high user stickiness

A successful e-commerce product must have an excellent operating model. First of all, MissFresh has adopted a variety of social fission operation methods, such as invitation gifts, 0 yuan grab, invitation verification, etc., to bring in old customers and continuously increase the number of users. Secondly, a membership system is adopted to enhance the stability of old users.

2.2 Weakness

Compared with other e-commerce categories, fresh food e-commerce is complex and has higher requirements for transportation and storage. Although MissFresh's forward warehouse model has improved delivery efficiency and experience, it requires a lot of money to build. Moreover, the forward warehouse model generally has no offline stores and lacks offline traffic entrances, requiring higher marketing costs and high subsidies to attract customers. Overall, the forward warehouse model requires high cost investment and a longer payback period.

2.3 Opportunities

1) The scale of e-commerce users has increased steadily. According to iResearch Consulting’s 2020 industry research report on fresh food e-commerce, the number of monthly active users of fresh food e-commerce reached 31.2282 million in December 2019, an increase of 82.5% year-on-year. In 2020, due to the impact of the epidemic, the number of active users of fresh food e-commerce continued to maintain a strong growth momentum.

2) With the development of new agricultural operators and the improvement of agricultural modernization, the scale, standardization, technology, intensiveness and industrialization of fresh product production are gradually improving.

3) At present, my country's fresh food products are still mainly distributed through traditional channels. With the construction of cold chain logistics systems and the gradual maturity of a new generation of consumer groups, fresh food e-commerce will have a large room for growth in the future.

2.4 Threats

my country's fresh food e-commerce industry is currently in a period of model exploration and rapid development. Various business models such as forward warehouses, store-warehouse integration, community group buying, and store-to-home delivery are running in parallel, and competition is fierce. Currently, there is no mature profit model. Therefore, for MissFresh, continuously improving its supply chain management capabilities is an important aspect of its future development.

3. Competitive Product Analysis

(1) Traditional fresh food e-commerce:

Fresh products are delivered to consumers via the Internet through traditional express delivery methods such as e-commerce warehouses and branch warehouses, and are generally delivered 1-2 days after the user places an order. For example, JD Fresh, Tmall Fresh, etc.

Advantages: 1) Low customer acquisition cost due to early user habits; 2) Strong brand advantage and credibility

Disadvantages: 1) Long delivery time and high product loss rate; 2) Dependence on the strength of the capital chain

(2) Fresh food e-commerce in the “forward warehouse + home delivery” model:

Fresh food e-commerce covers consumers within 1-3 kilometers by setting up forward warehouses around communities or cooperating with offline supermarkets, retail stores, and convenience stores. After an order is placed on a consumer app, fresh food products are quickly delivered to consumers within 1 hour through logistics distribution. Such as Dingdong Maicai, Miss Fresh, etc.

Advantages: 1) Distributed around users, delivery time is improved; 2) The forward warehouse model reduces product loss and reduces cold chain delivery costs

Disadvantages: Large initial investment in supply chain and warehousing

(3) Fresh food e-commerce with the “in-store + home delivery” model:

Fresh food e-commerce companies open stores around communities, using the stores as the center to serve users within 1-3 kilometers. Users can either shop in the stores or place an order on the APP, with the platform providing home delivery service within 1 hour. The stores opened by the platform are open for business and also undertake online warehousing and distribution functions. For example, Hema Fresh, 7 Fresh, etc.

Advantages: 1) Provide consumers with an integrated online and offline experience; 2) Online processing and production can effectively reduce spoilage

Disadvantages: Online and offline dual mode, increased store and labor costs

(4) Community group buying model:

The group buying platform provides product supply chain logistics and after-sales support. The group leader is responsible for community operations, and users pick up goods in the community. The coverage range is 500 meters to 1 kilometer, and the delivery time is generally 1-2 days. For example: Xingsheng Youxuan, Shixianghui, etc.

Advantages: Low customer acquisition cost, light operation model, easy to scale up

Disadvantages: The platform’s product variety is limited and there is a lack of comprehensive group leader management experience

According to iResearch's self-operated fresh food e-commerce apps in June 2020, Hema, MissFresh, and Dingdong Maicai ranked the top three with 16.486 million, 7.800 million, and 4.978 million active users, respectively.

Since DailyFresh and Dingdong Maicai are direct competitors and have similar user scales, we will use the two companies’ growth paths and business models as a starting point to gain a deeper understanding of the differences between them.

3.1 Dingdong Shopping

In 2014, Dingdong Maicai’s predecessor, Dingdong Community APP, was launched.

In 2017, "Dingdong Community" was renamed "Dingdong Maicai" and officially launched. Adhering to the concept of "never selling bad vegetables to users", it has a delivery fee of 0 and can deliver vegetables to your door in 29 minutes.

In 2018, Dingdong Maicai received angel round financing led by Gaorong Capital. In the same year, it completed five rounds of investment, including A round, A+ round, strategic investment and B+ round. Investors included Gaorong Capital, Tiger Global Management, HUPO HARMONY CAPITAL, Sequoia Capital, Today Capital, etc.

In 2019, Dingdong Maicai's order volume exceeded 400,000, and it received two rounds of B+ investment led by Today Capital, Oling Investment and Star Capital, CMC Capital, Bertelsmann Asia Investment Fund and Longfor Capital respectively.

In May 2020, it received a US$300 million Series C investment from the U.S. firm The BlackBerry, with a valuation of US$2 billion.

Dingdong Maicai’s business model is “forward warehouse + home delivery”

Procurement side: Mainly from urban wholesale markets and direct supply from brand suppliers. For seafood and vegetables that are difficult to store, we adopt the method of wholesale purchasing in the city to ensure the freshness of the products.

Delivery side: Dingdong Maicai builds forward warehouses within one kilometer around the community. The warehouse can be opened as long as the number of residents in the surrounding area is around 20,000 to 30,000. In addition, some cities have adopted the "0 yuan starting delivery + 0 yuan delivery" delivery model, promising that users can receive the goods within 29 minutes after placing an order.

User side: Dingdong Maicai currently mainly covers Jiangsu, Zhejiang, Shanghai, Beijing, Shanghai, Guangzhou, Shenzhen, Wuhan, Nanjing, Suzhou and other first-tier cities. The user group is mainly women born in the 1980s. Overall, users have good economic strength and strong purchasing power, but are unwilling or do not have time to buy fresh food offline.

3.2 Daily Fresh

MissFresh was founded in 2014 and received US$5 million in angel round financing from Guangxin Capital and Yuanjing Capital in the same year.

In 2015, MissFresh officially launched its WeChat Mall and 2-hour express delivery service, and received a US$10 million Series A financing led by Tencent. In October of the same year, it received a RMB 200 million Series B financing led by Tencent.

In 2016, the MissFresh APP was officially launched and received a B+ round of financing of RMB 230 million led by Yuanyi Investment.

In 2017, the unmanned office retail project Daily Fresh launched its express delivery service, speeding up delivery to members within 1 hour. MissFresh received a US$230 million Series C financing led by Tiger Global, Yuansheng Capital, Jeneration Capital, Tencent, and Lenovo Capital, entering the ranks of unicorns. In the same year, it received a US$100 million Series D financing led by Jeneration Capital. MissFresh Convenience Store received a US$200 million financing ecological chain fund led by Tencent and CDH Investments, and Sansheng Venture Capital was established.

In 2018, MissFresh received US$450 million in financing led by Goldman Sachs, Tencent, Jeneration Capital, and Davis Selected Advisers.

In 2020, MissFresh completed its latest round of financing with a total amount of US$495 million. The investors behind it include ICBC International, Tencent, Abu Dhabi Capital Group, Suzhou Changshu Government Industrial Fund, Tiger Global, funds under Goldman Sachs Asset Management and several other institutions.

Daily Fresh's business model is "city sorting center + forward warehouse"

Purchasing side: MissFresh has hundreds of professional buyers around the world, a composite team that understands planting and e-commerce. With more than 300 buyers in more than 30 countries and regions, 50% of vegetables, 70% of meat and eggs, and 90% of fruits are sourced directly from the place of origin or factory.

Distribution side: The "forward warehouse" model was first created by MissFresh. Through an intensive approach, products are distributed from the city sorting center to the "forward warehouse" for transfer to cold storage for preservation, and then short-distance distribution of 1-3 kilometers is carried out, and the products are delivered to customers within two hours (now shortened to 30 minutes). As of 2019, MissFresh has opened more than 1,500 forward warehouses across the country.

User side: MissFresh has currently established an ultra-fast cold chain logistics system of "city sorting center + community forward warehouse" in more than 20 major cities across the country. According to Trustdata's "China Mobile Internet Industry Analysis Report from January to September 2019", 70% of MissFresh users are women, and users aged 18-40 account for more than 80%. It can be seen that MissFresh is more popular among young women.

Summary: From the above analysis, it can be seen that MissFresh and Dingdong Maicai were established at a similar time, have basically the same core businesses, and similar business models, and are direct competitors. However, it is obvious that MissFresh's financing speed is faster, the process is smoother, and the amount of financing is relatively larger, which has laid a solid economic foundation for it to lead other fresh food e-commerce companies in the same industry.

In terms of business models, there are certain differences between MissFresh and Dingdong Maicai. In terms of procurement, MissFresh purchases products from all over the world. It is committed to bringing high-quality global products to people’s tables as much as possible and has higher requirements for product quality on the procurement side.

On the delivery side, after continuous improvements, the delivery time of both is basically within half an hour. However, Dingdong Maicai has adopted a "0 yuan starting delivery + 0 yuan delivery" delivery model in some cities. In cities where delivery is not free, the threshold for free delivery for Meituan Youxian is also higher. As for the user audience, both MissFresh and Dingdong Maicai are mainly young urban women, but MissFresh covers more cities, so its user range is wider and the number is larger.

Finally, both received a new round of investment in 2020, indicating that the development prospects are still very bright. However, in order to achieve long-term development in the fresh food industry, they must refine their operations, deepen the supply chain, and ensure product quality in order to go higher and further.

4. User Value Analysis

In the fresh food e-commerce market, there are three main participants: suppliers, consumers, and platforms. If the platform wants to develop rapidly, it must meet the demands of suppliers and consumers.

Below I will analyze the needs of these two parties and how MissFresh can better meet their needs.

4.1 Suppliers

As a self-operated fresh food e-commerce platform, finding reliable suppliers is very important to ensure the stability of the platform's product supply, diversity of categories and product quality. MissFresh’s suppliers are the producers of fresh products. Its main demands are to find more sales channels, reduce distribution links, and increase its sales revenue.

At present, its main sales channels are as follows:

4.1.1 Self-production and self-sales

Self-production and self-sales can directly give consumers feedback on product effects, and can adjust production in a timely manner to achieve the goal of stable production and steady development. However, self-production and self-sales are only suitable for fresh agricultural product operators with relatively small production scales, and the income from self-production and self-sales is not very stable and is relatively low.

4.1.2 Farmers’ Market

Farmers' markets are markets set up in urban and rural areas where agricultural and sideline products can be freely bought and sold. Farmers' markets are easy for fresh food suppliers to quickly get fresh agricultural products into the market. Its advantage is that it simplifies the management costs of agricultural products entering the market.

The disadvantage is that the quality supervision of agricultural products is not in place and the quality of products varies greatly. People's perception of farmers' markets is that the environment is dirty and the products are cheap. Therefore, the income from farmers' markets is relatively low for suppliers.

4.1.3 Farm-supermarket connection

Through the "farm-supermarket connection", agricultural product operators can directly supply fresh agricultural products to supermarkets, making it convenient for consumers to purchase directly. The connection between farmers and supermarkets is to use modern logistics methods to quickly deliver fresh and high-quality agricultural products to consumers, thereby achieving a win-win situation for agricultural product operators and consumers.

The connection between farmers and supermarkets provides a channel for the sales of high-quality agricultural products. Supermarkets provide a platform for the sale of agricultural products and have the responsibility to monitor or supervise the quality of agricultural products. However, for fresh product producers, the competition between farmers and supermarkets is fierce. Unless they cooperate with large supermarket chains (the probability is low), they need to negotiate with every supermarket, which results in high communication costs.

Even if they cooperate, random charges, arbitrary returns and delayed payment by the purchasing party are still problems that cause headaches for many suppliers.

4.1.4 Wholesale of agricultural products

Agricultural product wholesalers refer to organizations or individuals that engage in agricultural product trading activities under the authorization of agricultural product producers or agricultural product distribution departments. Agricultural product wholesalers collect, transport and sell farmers' agricultural products and earn the difference to make a profit.

Agricultural product wholesalers are widely active in production areas, playing a role in integrating agricultural products, stabilizing the sales channels of fresh produce producers and increasing their income. However, in the distribution channels at each level, the wholesale price of fresh produce producers increases several times by the time it reaches consumers through several levels of distributors. As the end of the distribution chain, fresh produce producers receive very limited profits.

summary:

Of the above-mentioned sales channels for fresh produce producers, the first three can be classified as direct sales, and the fourth is distribution. In direct sales, there are no distributors to make a profit from the price difference, and producers can adjust the prices themselves. However, this sales model lacks professional and unified management, has low efficiency and unstable income.

Among them, the advantages of the connection between farmers and supermarkets are more obvious. However, there are too many homogeneous products and fierce competition, making it difficult to form unique competitiveness. The probability of cooperation is low and the cost of cooperation is relatively high. Random charges, arbitrary returns and delayed payment are also problems faced by suppliers.

Distribution channels play an integrating role in fresh products. However, at each level of the distribution channel, the producer’s profit is the lowest compared to the entire distribution chain. It can be seen that there is room for improvement in the cooperation model between suppliers and buyers.

4.2 Consumers

With the development of the economy and the changes of the times, my country's consumer groups have gradually changed. At this stage, people born in the 1980s and 1990s have become the backbone of consumption, and their consumption habits have also changed accordingly. They are more willing to improve their personal consumption level, and their standards for quality and experience are getting higher and higher.

Offline shopping methods such as supermarkets or vegetable markets used to be one of the main shopping channels for people’s daily consumption. Consumers can intuitively touch the products to judge their freshness and decide whether to buy them. In addition, there are many product categories and a wide range of choices. Shopping in supermarkets and markets can be considered a form of leisure for people.

However, there are several problems with this offline purchasing method. Firstly, the location is fixed. There may not be one near the consumer’s residence, or there may be one but it is quite far away. This makes it not very convenient for daily purchase of food, especially for older consumers. If they go out to buy food in bad weather, there are certain safety risks.

Secondly, the hours are fixed. Supermarkets and vegetable markets have fixed opening and closing times. Vegetables at the vegetable market are generally the most complete and freshest in the morning, and supermarkets also close relatively early. However, people's pace of life is getting faster and faster, especially for young people working in first- and second-tier cities. The 996 working hours leave them with no extra free time to go shopping in supermarkets or vegetable markets. So online shopping came into people's view.

4.3 Platform

From the above analysis we can find that. In the fresh food e-commerce market, the main problems with the solutions provided by participating suppliers are: self-sales channels lack unified management, are relatively scattered, have low efficiency, unstable income, and are difficult to form strong competitiveness. There are too many sales links in the distribution channel, and the profits of fresh food producers are still low.

For consumers, their main demands are the convenience of purchasing fresh products, reducing the time cost of shopping, and ensuring the quality and variety of products. As a platform, how does MissFresh better meet the needs of all parties involved?

4.3.1 Implementing the “Three Zero Plan”

In 2017, MissFresh increased its support for upstream high-quality fresh produce producers and jointly built a new ecosystem for the fresh produce industry. It proposed the "Three Zero Plan", namely "0 fees, 0 returns, and 0 account periods", 0 fees - no entry fees or promotion fees of any form, 0 returns - 0 returns for qualified goods, 0 account periods - supply chain financial services. This will help to fundamentally rebuild new standards for cooperation between farmers and merchants, completely change the traditional retailers' long-standing problems with suppliers in terms of "high fees, random returns, and long payment terms", and establish a good relationship with suppliers based on mutual benefit, mutual trust and complementarity.

There is an entrance on the official website of MissFresh to apply to become a supplier. After the supplier applies on the official website, as long as they can pass the strict qualification review and provide high-quality products, they can maintain long-term and stable cooperation with MissFresh. The "agricultural and commercial cooperation" model, without middlemen making a profit from the price difference, can greatly increase and stabilize suppliers' income.

4.3.2 Establish professional buyers to ensure the freshness of the supply

MissFresh insists on selecting SKUs (standard commodity units) of all categories, with large quantities of individual products and centralized procurement. It has established buyers in more than 30 countries and regions around the world to specialize in purchasing local high-quality fresh products. In order to better improve product quality, MissFresh's professional buyer team will go deep into the production areas of fresh products to cultivate producers and purchase the best quality products.

4.3.3 Establishing a rapid cold chain logistics system of “city sorting center + community forward warehouse”

MissFresh has established an ultra-fast cold chain logistics system of "city sorting center + community forward warehouse". The maximum delivery distance for each deliveryman is 1-3 kilometers, ensuring that fresh goods can be delivered to consumers' homes within 30 minutes. This greatly saves consumers' shopping time, and the purchasing time is not restricted, so consumers can buy fresh ingredients at any time.

At present, MissFresh has thousands of forward warehouses across the country, which can refrigerate a variety of fresh foods and ensure the freshness of the products. In June 2019, MissFresh teamed up with Tencent Smart Retail to launch the "Smart Fresh Billion Plan".

It is expected that in 2021, MissFresh will grow into a fresh food retail platform with a scale of hundreds of billions. By building accurate, detailed and smart full-scenario information flow, it will further realize high labor efficiency and high floor space efficiency of forward warehouses, establish a data-driven agile supply and demand relationship, and enable more consumers to enjoy a more extreme fresh food purchasing experience.

4.3.4 Rich Product Categories

Currently, MissFresh has more than 2,000 selected products, covering categories such as vegetables and fruits, meat, eggs, aquatic products, snacks, wine and beverages, daily necessities, etc., which can meet consumers' daily one-stop shopping needs.

Summary: Through the above analysis, we can find that compared with other methods, MissFresh can better meet the needs of suppliers and consumers, which is why it can become a leader in the fresh food e-commerce market.

5. Commercial Value Analysis

MissFresh’s core business is the sale of fresh products. Next, I will use the GMV indicator to analyze MissFresh’s core business and see how it improves its commercial value.

GMV = number of users * conversion rate * average order value. The improvement of any one of the following indicators, namely the number of users, conversion rate, and average order value, will have a positive impact on the growth of the company's overall revenue. Therefore, we will focus on analyzing the means used by MissFresh to improve these three key indicators.

5.1 Increase the number of platform users

In order for businesses to achieve sustained growth in revenue, attracting a steady stream of new users to register is the basic guarantee. Only with traffic can there be revenue. So what methods does MissFresh use to attract new users? There are mainly three types: advertising, social media and word of mouth.

5.1.1 Different forms of advertising

• Online advertising: traditional TV advertising, live streaming by celebrities
• Offline advertising: community advertising, platform advertising, car body advertising, subway advertising, elevator advertising, etc.

5.1.2 Various social media methods to attract new customers

Social media acquisition is the main way for MissFresh to attract new customers, that is, to attract new customers by sharing with old users on WeChat friends and Moments. This article divides the purchase process into three categories:

Before buying: Invite friends to help. Old users can get coupons or red envelopes by inviting new users to register and like their posts.

Purchasing: Group buying of good items. Old users can initiate a group purchase and invite friends to buy a product with them at a low price. As long as the required number of group members is reached, consumers can get the product at a very low price.

After purchase: Invite friends to get cash back. After old users purchase products, MissFresh will return part of the money to the users in the form of red envelopes. Users need to invite a specified number of users to help, and then they can withdraw the money.

5.1.3 User word-of-mouth publicity

Word of mouth is a spontaneous behavior of users. If a product is based on users and can make users feel that they benefit, user satisfaction will be high, and they will then recommend it to their relatives and friends or on social media.

MissFresh has done an excellent job in terms of product quality, delivery speed and price discounts, so it has established a good reputation among users. Because I am quite satisfied with all aspects of MissFresh, I have recommended it to my colleagues and friends.

5.2 Improve conversion rate

After having a sufficient number of registered users, how to convert these users into paying users who can bring revenue to the company is what every company is working tirelessly to do. So, as an industry leader, how does MissFresh do it? In this part, I will analyze according to the user's purchasing process on the platform.

User purchase process: Home page - Product list page - Product details page - Shopping cart - Checkout

5.2.1 Home Page

After a new user registers, the homepage of Daily Youxian will display "Newcomers get their first order for free", which means that the user's first order is free shipping, and after the new user purchases the goods, the platform will "cash back" to the user in the form of fresh coins, with a maximum of 4,000 fresh coins returned, equivalent to RMB 40. As shown in the picture above, consumers can use fresh coins to offset part of the price of goods. MissFresh uses these methods to stimulate newly registered users to make their first purchase.

5.2.2 Product List Page

After entering the product list page, users can quickly and easily find the fresh food categories they want to buy based on the categories. At the same time, the highlighted discounted prices, the display of product popularity, the sense of urgency created by limited-time flash sales, and the inventory quantity displayed on the product list page tell consumers that if they don’t buy the product now, it will be taken off the shelves and they will miss out on the discount. These small designs of merchants are all encouraging consumers to click on the product details page and make quick purchasing decisions.

5.2.3 Product Details Page

5.2.3.1 Demonstrate cost-effectiveness

Consumers all want to buy the best products at the lowest price. Daily Youxian's product details page shows the cost-effectiveness of products through price comparisons before and after the discount, coupon redemption, and limited-time promotions, making users feel that it is a good deal to buy now. The countdown setting for flash sales makes users feel a sense of urgency to buy quickly, and they feel that it will be a loss if they don’t buy now.

5.2.3.2 Creating a sense of consumption scenario

Use product details pictures to create a good real product consumption experience and restore offline usage scenarios. As shown above, the merchant uses only a few words and a few high-definition pictures to create a scenario in which users drink beer and eat edamame with friends at a food stall and chat loudly on a cool summer night.

The products also come with brief food-making recipes, so that users who love making delicious food can give it a try themselves. At the same time, it is simple and easy to use, which makes even novice cooking users feel the urge to place an order. By creating a sense of consumption scenario, users will feel that this is the product they want.

5.2.3.1 Establish consumer protection

Product safety is one of the primary considerations for fresh product buyers, and MissFresh also attaches great importance to this. Therefore, the product details page shows that the products on this platform are tested by authoritative organizations, and each product has a qualified inspection report. Allow users to buy with confidence without any worries.

5.2.4 Shopping Cart

After users add the products they want to the shopping cart, how should merchants design the page to allow users to pay quickly?

5.2.4.1 Remind again of the price discount

As can be seen from the above picture, merchants deliberately highlight discounted and price-reduced products, which is to remind users again that the product is very favorable and will be missed if they miss it.

5.2.4.2 Utilizing the Principle of Reciprocity

Use a small favor in exchange for a greater willingness to buy, give away a small item to induce users to place an order

5.2.4.3 Creating scarcity of products

There are purchase limits on some commodities, limiting the purchase quantity for users. For limited-edition products, users will think that either the goods are in stock or the goods are too cheap, so the merchants will restrict purchases. So if you buy it, you will feel like you have made money by yourself.

5.2.5 Product Settlement

The merchant on the settlement page will display the total discounts obtained by the user to purchase the product, highlighting the discounted price, making the user feel that it is very cost-effective, and then click the payment button to pay immediately.

5.3 Increase customer order price

The average customer price is affected by two factors: the amount of a single purchase and the frequency of purchases of users. So how does Daily Youxian increase the average customer price?

5.3.1 Increase user purchase frequency

5.3.1.1 Member Exclusive

In order to increase user stickiness, MissFresh has launched a paid membership system. As long as the user activates a membership, he can enjoy exclusive member privileges, receive exclusive member red envelopes, and have exclusive member price when purchasing goods. Because members only get these privileges after paying fees, users will continue to consume on the platform and maximize their membership benefits.

5.3.1.2 Event Promotion

Daily Youxian’s promotional activities include limited-time special offers such as “Today’s Flash Sale” every day, as well as activities launched from time to time during holidays. These promotions are all aimed at attracting users to increase purchase frequency at preferential prices.

5.3.1.3 Multiple coupon information

The user increases the purchase amount to meet the amount required to obtain the discount. The latest wallet launched by Youxian Daily can save coupons by paying a certain amount of money to receive coupons, which can increase the probability of users using coupons and increase the number of purchases.

5.3.2 Increase the amount of users’ single purchase

5.3.2.1 Free shipping order

To meet the free shipping requirements, users increase the amount of purchases per order

5.3.2.2 Related recommendations

On the Daily Youxian shopping cart page, under the products loaded by the user, the platform will use big data to speculate on the relevant products that may be interested in based on the products loaded by the user. If the user sees that the recommended products happen to be what they need or the price is very cost-effective, he will buy them. This is also an effective means to increase the amount of users’ single purchases.

5.3.2.3 Value-for-money

When the user clicks the checkout button in the shopping cart, a small window for value-for-sale will pop up on the checkout page, pushing some products to the user at a more favorable price, which will also increase the amount of the user's single purchase.

Summary: From the above analysis, we can see that in order to optimize its revenue model, MissFresh has done a lot of work to continuously attract new users and increase conversion rate and customer unit price. At present, the results are still very good. It is precisely because of the great commercial value of Daily Youxian that investors will continue to increase their investment.

6. Product Iteration Analysis

In order to deeply analyze the iteration rhythm of the version of MissFresh and explore the product iteration logic, this article has compiled all the iterations of MissFresh since its launch, as shown in the following table:

As mentioned above, according to the iterative function and the total download volume curve (belongs to S type), Daily Youxian can be divided into three stages according to the product life cycle: Start-up stage – Growth stage – Maturity stage:

6.1 Startup phase

2015 V1.0-V2.0, verify user needs and polish user experience

This stage is the cold start stage of Daily Youxian. The main goal of this stage is to verify user needs and improve basic functions. It mainly launches coupon redemption, multi-region support, accurate positioning of delivery addresses, personal centers and product details, etc., which are all necessary functions users must have when shopping on Daily Youxian Mobile.

Among them, the function of adding the delivery address label and adding the precise selection of delivery address is mainly because in the early stage of the product launch, due to inaccurate positioning, users filled in the wrong address or did not carefully confirm when placing orders with multiple addresses, etc., resulting in more cases of delivery guys sending the wrong address, which not only poor user experience but also increases logistics costs, so this version is iterated.

At the same time, in order to increase the number of platform users, new "group buying activities" have been added, relying on "old to lead the new" to acquire new users faster.

At this stage, the products have just been put into the market, mainly to deeply explore the needs of users and bring more registered users. Targeted product iterations have brought the monthly active users of Daily Youxian from 0 at the beginning of its launch to one million.

6.2 Growth stage

2016 V3.0.0-2020 V9.8.24, build operation tools to attract a large number of users

This stage is the rapid growth period of MissFresh, and acquiring a large number of users has become the focus of product iteration. This stage focuses on adding some operational tools. Such as discounts, social fission and membership.

Discount activities: 1) You can get a large discount for the first order, and you will get coupons for subsequent orders; 2) Recharge and give gifts. The larger the recharge amount, the more benefits you get; 3) The homepage launches a countdown for super discounted products and flash sale, attracting users to place orders at low prices; 4) Rebate orders

The launch of the promotion has attracted a large number of users to place orders, greatly improving the platform's conversion rate and revenue.

Social fission: 1) Invite friends, users invite friends to place orders, and both parties can get discounts; 2) Upgrade group purchases and launch a 0-yuan lottery group; 3) Users can send red envelopes to their friends after placing an order

These social means not only increase user activity, but also allow more new users to know the existence of the platform and increase the popularity of the platform.

Membership system: 1) Users can become members by placing two orders per month; 2) Members can enjoy some privileges that are not enjoyed by non-members; 3) Members can invite friends to experience membership services every month.

The membership system is an operational method widely adopted by various e-commerce companies. It can not only increase customer unit price, but also increase user stickiness.

In addition to the construction of the above three operating tools, MissFresh also added many other functions during this period:

1) Safety aspects. Food safety issues are one of the main factors that users consider when purchasing fresh products. In order to dispel users' purchase concerns, let users buy with confidence and eat with peace of mind, Daily Youxian has launched the function of the peace of mind detection label and fruit and vegetable product quality inspection report that can be checked on the details page. During the epidemic, in order to ensure user safety, MissFresh also launched a "contactless" delivery service.

2) Product aspects. First, MissFresh has launched the pre-sale function of goods. For a self-operated fresh food platform, the cost of goods storage is very high. Using the pre-sale function of goods, you can estimate the user's demand range, reduce inventory backlog, and reduce costs. Second, MissFresh has enriched the product categories and launched modules such as daily necessities, wine and beverages, grain and oil seasoning, slowly transforming from a single fresh food profit model to a supermarket model, realizing the upgrade of the profit model. Moreover, these modules online are complementary to fresh food categories. For users, one-stop shopping can be achieved, making shopping more convenient, so they are also highly accepted.

3) In terms of delivery, the upgrade from the two-hour delivery of version 3.0.0 to the fastest thirty-minute delivery of version 9.6.4 reflects the unremitting pursuit of delivery speed of Daily Youxian. During this period, the fresh food e-commerce industry developed rapidly and had many competitors. Accelerating the delivery speed can not only improve user experience but also an inevitable measure to maintain competitive advantages. Daily Youxian has also added courier contact function, real-time positioning function, and arrival reminder function to make product delivery services more user-friendly.

4) In terms of customer service, during this period, MissFresh has been constantly updating its customer service functions. Because of the increase in user conversion rate during this period, the transaction volume increased sharply, the problems in users' shopping process also increased, and customer service costs increased. In order to quickly solve user problems and reduce customer service costs, Meituan Youxian launched a self-service customer service. For common questions of users, you can quickly answer them through intelligent customer service. Only difficult problems that cannot be solved by intelligent customer service will be transferred to manual customer service. In addition, MissFresh has also added evaluation functions and feedback portals to better serve users.

As mentioned above, because MissFresh is constantly optimizing and developing from all aspects, from its inception to March 2020, MissFresh is a main force in the rise of the fresh food e-commerce industry, and its monthly active users are firmly in the first echelon of the industry.

6.3 Maturity stage

Since 2020 V9.8.36, the functions have been continuously optimized to increase user stickiness

MissFresh has entered a mature stage. This period mainly involves continuously optimizing basic functions at the product level, including the optimization of homepage components and the revision of the "what to eat" section.

In order to consolidate its leading position, the operation pace of MissFresh is still very fast at this stage. The main operations include: the launch of activities such as the 5th anniversary carnival shopping, the 618 Quality Fresh Fresh Festival and the "Fresh Vegetable Market, Billion Subsidy".

Summary: Overall, the development pace of Daily Youxian is particularly good. We focus on polishing products in the early stage and do not rush to promote them. For the sake of subsequent development, we will continue to improve the user experience. When the user experience becomes stable and enters a rapid growth period, large-scale promotion begins to be continuously acquired. When the number of users reaches a certain scale and enters the maturity stage, on the one hand, it will continuously optimize the user experience to prevent user loss, and on the other hand, it will begin to expand new businesses. The above are the overall iteration steps of Daily Youxian.

7. Product structure analysis

In the iterative analysis, we analyzed the iteration steps of the product function of MissFresh. Next, let’s take a look at what users’ needs meet and how they are distributed throughout the APP. This is mainly analyzed through product structure.

7.1 Daily Youxian V9.8.86 product structure mind map

7.2 Daily Youxian V9.8.86 product structure list

For the convenience of analysis, the product structure of Daily Youxian is re-sorted according to users, scenarios, needs and functions to the following table:

7.3 Overall Analysis

When consumers use MissFresh, there are three scenarios: before, during and after shopping. Let’s analyze the needs of consumers in each scenario and what functions does MissFresh use to meet these needs of consumers.

7.3.1 Before shopping

1) Before placing an order, consumers may have just heard of the name MissFresh, but they don’t know whether the platform is trustworthy. In order to dispel consumers' doubts and be confident in spending on the platform, MissFresh has set up qualifications and rules buttons on the homepage. Consumers can click in to view the platform qualifications, business qualifications, user agreements and privacy policies.

2) Consumers want to know what categories of products sold on the platform, as well as the specific price, origin, nutritional value, and whether the product is safe. The product list page classifies all the products on the platform, and consumers can choose freely. On the product details page, consumers can find various specific information about the product and product inspection reports issued by professional institutions, so that consumers can buy happily and with confidence.

3) For consumers with clear purchase goals, a search box is set on the homepage, so consumers can quickly find the products they want to buy. For consumers who are not sure what they want to buy, the platform has launched the "What to eat" module. Users can view the food made by other users here. Each sharing includes food and the ingredients needed for production. Interested users can click on the relevant ingredients to purchase.

4) For price-sensitive consumers, price is an important factor they consider when shopping. If the same product has discounts or no discounts, consumers' purchasing attitudes may be completely different. Therefore, in order to meet consumers' demand for buying "good and low-priced" products, the platform has set up discount activities on the homepage, classification and other modules, such as: one billion subsidy activities, today's flash sale, brand special offers, cloud super special sales, etc. For consumers who are not sensitive to prices, Daily Youxian focuses on quality, and professional buyers recommend high-quality products on the product details page.

5) If consumers still have doubts about the product they intend, they are not sure whether the product details described by the platform are in line with the actual situation. You can view the reviews of users who have purchased this product on the product details page. These reviews are real feedback from other consumers and can greatly dispel user doubts.

6) Before placing an order, consumers must edit and confirm whether their delivery address is correct. They can locate the detailed address of their region on the homepage, or find the delivery address in my service for editing or modification.

7) Before placing an order, consumers want to know how long the delivery time of the product is and whether it is within their acceptable range. The platform has set a delivery time interval on the details page of each item.

7.3.2 Shopping

1) During the preparation process, the shopping cart shows the quantity, price, delivery time and other information of the items purchased by the consumer at a glance. You may also like the function to recommend more related products to consumers and increase the purchase amount of consumers' single order.

2) During settlement, the product discount details next to it allow users to understand the discount details more clearly and increase the shopping experience. In terms of discounts, if consumers want to view the use of coupons and product coupons, the available coupons on the top of the shopping cart can be viewed directly.

3) If consumers want to waive freight, the platform has set up a prompt at the bottom of the basic delivery fee for the JiSuDa product. Consumers can see how much the price of the goods they purchase is different from the free freight. They can reduce the free freight by getting the minimum amount of free freight.

4) On the order settlement page, Daily Youxian supports five payment methods: reserved value balance, WeChat, Alipay, Huabei, and Yunflash Pay. Meet the diverse payment method needs of consumers with different payment habits.

7.3.3 After shopping

1) After placing an order, consumers can view the order information in the order details. If they want to cancel the order due to wrong purchase, want to repurchase, or simply do not need it, the platform has not delivered the order yet, and consumers can cancel the order directly in my order.

2) After purchasing the product, consumers want to track the product logistics and grasp the delivery status of the product in real time. They can check whether the product is waiting to be delivered or in the stage of delivery in my order. If the delivery time of the order exceeds the promised time of the platform, consumers can click the order urge button in the order details to urge the platform or delivery staff to deliver the goods as soon as possible.

3) After receiving the goods, if the consumer finds that the goods purchased are damaged, missing or dissatisfied with the goods, he can contact customer service in the customer service and help section to communicate, obtain product or financial compensation, or directly return the goods. If you cannot coordinate with customer service, you can click the "I want to complain" button to make a complaint and wait for further processing by the platform.

4) After receiving the goods, the consumer's order status will become to be evaluated. Consumers can comment based on their actual consumption experience to serve as a reference for subsequent purchasers.

5) If consumers need shopping vouchers, they can apply for an invoice. If you want to buy another order, you can click "Come another order" directly in my order, which is very convenient.

Summary: From the above analysis, it was found that the functional design of MissFresh can well meet the needs of users in four scenarios: before placing an order, when placing an order, before receiving the goods, and after receiving the goods. At the same time, the high-frequency functions required by different users are highlighted in the product structure and have reasonable distribution, which can be regarded as a product with relatively excellent design.

8. Operational Path Analysis

MissFresh is a highly operation-driven product that attracts new products through social fission, advertising, user word-of-mouth publicity, etc., as well as establishing consumer protection, creating product scarcity, establishing membership system, coupons, etc. to increase conversion rate and unit price. MissFresh can become a leader in the industry, and an excellent operation team will make an indelible contribution.

There are detailed analysis of most of its operating methods in the previous article, so I will not repeat it here. In this part, we will analyze the efforts made by MissFresh in event operations. It is mainly divided into the following three categories (because it is impossible to obtain detailed data on operation activities, it is only briefly listed for your reference):

Celebrity endorsement:

• 2020-04-10, the 5th anniversary of the establishment of Youxian Daily is invited to join the popular traffic stars such as Xiong Ziqi, Li Sheng, Wang Yuanke, Zhou Weitong, Wang Ju, Liu Chang, Ma Tianyu, etc.

Helping public welfare:

• 2020-03-08, Daily Youxian joined hands with 10 female stars including Zhang Jingchu, Qin Lan, Tan Zhuo, Ma Su, Huang Shengyi, Xiong Naijin, Jiang Kaitong, Li Sheng, Liang Yuan, Zhao Ke and other 10 female stars to launch the "Eat at Home" charity advocacy
• 2020-08-20, Mayday Youxian and the CPC Qingdao Municipal Committee Cyberspace Affairs Office jointly advocated "Practice thrift and oppose waste" to Internet TV users across the country
• 2020-09-23, Daily Youxian helps "Blue Ocean Charity Activities" to protect the blue ocean

Homemade short film:

• 2018-01-24, Daily Youxian’s homemade Spring Festival love short film “For Love, Let Home, Unusual”
• 2020-02-10, Daily You rarely pays tribute to the "ordinary persistents" in the epidemic launched a short film "Our Heroes"
• 2020-04-10, Daily Youxian celebrates its 5th anniversary homemade "Thank you for your three meals and four seasons" short film

Cross-border cooperation:

• 2020-04-06, Daily Youxian and CCTV News launched the special topic "Thank you for baking orders for Hubei"
• 2020-04-12, Daily Youxian and the technology company in the underwear industry, "Januine", jointly launched a T-shirt + sock collector's edition gift box
• 2020-04-19, Daily Youxian mobile game "Dream Garden" activity reward
• 2020-04-30, MissFresh and Kimberly reached strategic cooperation
• 2020-05-01, Daily Youxian and Hisense TV Weibo launched the "Most Unforgettable Living Room One Hour" solicitation event
• 2020-05-07, Daily Youxian and Zhihu launched the "Zhixianhu" event
• 2020-05-08, Daily Youxian reached a strategic cooperation with Yisai Beef
• 2020-05-15, MissFresh reached a strategic cooperation with Hengdu Beef
• 2020-05-17, Daily Youxian and Mengniu Dairy Alliance celebrate the "first yogurt culture festival"
• 2020-05-21, MissFresh joined hands with Joyoung to launch a Weibo "The Juice I Want to Drink Most" collection event
• 2020-05-22, MissFresh and Vida reached strategic cooperation
• 2020-05-29, MissFresh reached a strategic cooperation with Vitamin
• 2020-06-05, MissFresh and Jiujiuya reached strategic cooperation
• 2020-06-26, MissFresh reached a strategic cooperation with General Mill
• 2020-07-31, Daily Youxian helps Beike set up a free borrowing service in Love Book Corner
• 2020-08-08, Daily Youxian helps Ping An Bank Credit Card’s “Looking for Hot 8 in the City” event
• 2020-08-19, Daily Youxian and Beilang Sanitary Ware launch the "Bath you can enjoy the Chinese Valentine's Day together" event
• 2020-08-20, Youxian and Leke Sports launched the joint dance music "Fresh Disco"
• 2020-10-01, Daily Youxian and Tencent Map launch the "National Day Tour Tencent Map Search and Buy Grabs and Reduce 20" event

IX. Conclusion

Through the overall analysis of the fresh food e-commerce market and MissFresh, we can draw the following conclusions:

1) Macroeconomic factors such as political policies, economic foundation, social culture, science and technology have greatly promoted the development of the fresh food e-commerce industry in recent years, and will also affect the industry's continued high growth rate in the future.

2) In the fresh food e-commerce industry, MissFresh and Dingdong Maicai are direct competitors. Their brand influence and user scale are not different, and their business models are roughly the same. However, compared with competitors, MissFresh's development speed is faster, with a larger amount of financing, and their future development prospects are also more optimistic.

3) In the fresh food e-commerce industry, there are mainly three participants: supplier, platform and consumer. If the platform wants to develop rapidly, it must meet the demands of suppliers and consumers. In response to this, MissFresh has taken a series of measures.

4) The core business of MissFresh is the current core business of fresh products. GMV is an important indicator commonly used by the e-commerce industry to measure whether its core business is healthy. In order to enhance its own commercial value, MissFresh increases the number of users on the platform through advertising, social fission, and word-of-mouth publicity. Through careful design of each link of the homepage, product list page, product details page, shopping cart, and settlement page, it has achieved very good results, and both user value and commercial value have been obtained.

5) From the perspective of product iteration, the development of MissFresh has gone through three stages: launch, growth and maturity, from focusing on polishing products and improving user experience, to large-scale operation and promotion, a large number of users are acquired to continuously optimizing functions, increasing user stickiness. Daily Youxian is taking steady steps and takes every step very steadily.

6) In terms of product structure, every step of the user's use needs is well met in every step of the four scenarios before, when placing an order, before receiving the goods, and after receiving the goods. It truly achieves that it is a relatively excellent product from the user's perspective.

The above is an analysis report made by me for my love for the fresh food e-commerce industry and the excellent product of MissFresh. I did not give any suggestions on the optimization direction of the product. I hope it will be helpful to everyone.

Author: Mum

Source: Mumbai