Inflection point of TV shopping experience returns to retail devoir

September 24, 2008

Huang Kai of our newspaper reporter

Abroad appear on the market accomplished international of fruit of rubber tree of domestic TV shopping company (NASDAQ: ATV) shops with 7 stars (of 0245.HK) short-term and brilliant, however good times don’t last long, one year much market severe test makes ” oak fruit people ” it is difficult to begin to allow investor the following pharynx.

On September 16, the share price of oak fruit drops to every 5.67 dollars, relatively 19.9 dollars fall the open quotation price when its landed button to reach place last year in May defeat 60% above, and the 7 heavenly bodies that rent housing to appear on the market in Hong Kong drop to 0.1 HK dollar for a time unexpectedly, drop into celestial being.

The outstanding achievement big suddenly turn hostile of take a sudden turn and become worse rapidly brings about investor to poll with the foot in succession. Arrive from 2005 2007, oak fruit international advocate business Wu income is 170 million dollar respectively, , 196 million dollar and 262 million dollar; But meanwhile, thirdly year profit reachs 7.9 million dollar for 20.04 million dollar, 1.6 million dollar respectively however. And 7 stars are in last year first half of the year, sales revenue still reachs 414 million HK dollar, net profit 43.29 million HK dollar, but the annals last year appeared awesomely however of 380 million HK dollar gigantic deficient.

“Share price drops is the relation because of general trends, we do not comment on the company that we invest to the outside. ” on September 16, the Yan Yan of copartner of soft Yin Saifu that ever invested oak fruit international expresses to the reporter so. And when the reporter calls 7 stars, the relevant personage of 7 stars rejected a reporter interview.

However, two home appliance inspect shopping tycoon to walk along Mai Cheng not to block the successor’s enthusiasm however together, the joy of Hunan is bought, the friendly friend of Shanghai shops and tide shops wait to still be in ” no sooner has one fallen than another steps into the breach ” . TV shops to already lay crossroad, where is the direction that didn’t it come to after all?

　　 Is advertisement retail still?

“The mode of oak fruit attributes short smooth fast kind, achieve acme quickly already, also meet apace glides. ” the friendly friendly shopping president that just held water last year Yang Xing farming expresses to the reporter, of oak fruit profit reduce considerably sell with one of flavour ” oneself product ” mode is concerned.

Occupy Yang Xing farming to introduce, purpose of oak fruit section puts in channel to be in commonly cover a range wider defend individually inspect, because defend,look time paragraph cost is higher, its program often ten minutes of first gear, be in a few ” rubbish time ” inside scroll is broadcasted, with advertisement ten classification are like, this kind of mode means the product of oak fruit to must be centered, penetration is strong, and want exclusive, “Because the product of this oak fruit carries the means sale that buy outright mostly, because the goods that can compare a gender is lacked on the market, gross profit often can be accomplished 50% to 100% ” .

It is with the mobile phone exemple, when mobile phone sort when competition of not quite much, market is not quite intense, the space of product gross profit that fixes a price by oak fruit is very large, once the competition of mobile phone market tends,turn white-hot however, the product of oak fruit also will be immersed in price war in. Add as rare the channel cost year after year that lacks resource rises, programming, content shedding deserves to send the expenditure that waits for a respect to cannot be compressed again, two upright press press cause loss very easily, “This is not represented manage gave an issue, however the exasperate be caused by of market environment ” .

“Current, the mode of oak fruit looks in investor do not have appeal. ” aurora borealis is achieved cast day of Jiang Hao of senior vice president to tell a reporter, nowadays of advertisement effect change rate dropping, the satisfaction that shops as a result of TV is spent inferior, the rate of the client that return money presents ascendant trend.

Qian Xuefeng of copartner of Chinese manage capital thinks, oak fruit mode has two apparent hard injuries, be channel cost above all can charge a sex not strong. It is reported, of shopping company and TV station autograph often is the short-term contract of a few months, the effect that suffers channel to rise in price consequently is particularly apparent; In addition, sell a product through buying outright mode, as time passes is met prediction of a person’s luck in a given year the tripartite supplier on many platform, “Tell from the strategy and business, TV shops should sell greatly like field is same, become a sale channel. Oak fruit make medium of communication already at present, make a product again, and what sell for the most part is to have a product oneself, come so, can the supplier of tripartite still cooperate with it? Can the supplier of tripartite still cooperate with it??

Look in Qian Xuefeng, even if Woerma and domestic Le Fu, in their channel oneself the brand also is not occupied only 10% ; Although have the gross profit of the brand oneself taller, but once scale of this part commodity magnifies, other vendor can be exited gradually. The mode of 7 stars and oak fruit are roughly identical, the time that just enters the market is a bit late. The personage inside course of study says, oak fruit is trying with 7 stars to sell goods on a commission basis channel regression.

In fact, this kind of retail mode is tide shops, friendly friend shops and joy is bought wait for adopted family to shop mode. Sell continuously with advertisement different, their base oneself upon at local TV station, take the channel idea of department store, sell on 1000 kinds of products every year, section purpose broadcasts time to also be as long as ten hours / day.

Specific say, it is to sell goods on a commission basis between domestic shopping company and supplier relation, after commodity sale goes out, shopping company from inside sale draw-out 3 into the left and right sides, 10% what add channel cost to hold sale, content shedding cost is occupied 5% , film cost is in 3% the left and right sides, cost of again subtractive operation, “Net remnant 5% the left and right sides, can accomplish 8% already very good ” .

To this, yang Xing farming says frankly, go up from essence for, domestic TV shops is a kind of of retail trade special configuration, and retail trade is absolutely the industry of small profit.

Nevertheless. This kind of means can make the company accumulates certain precipitation fund, accordingly ” the cash of the company flows pretty good all the time ” . But nevertheless, retail trade or ” run quantity ” profession, sell the dimensions with went up certain only, ability uses scope effect to obtain vivosphere in small profit.

Ginger bright day expresses, although the family shops,attribute small profit, but this domain still has an opportunity. “The red child that we invest is the retail trade of small profit, connecting Woerma also is small profit, can you say they are done not quite? Can you say they are done not quite??