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Data-driven iteration helped China’s Genki Forest become a $6B beverage giant in 5 years

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China’s e-commerce and industrial ecosystem is as different from the Western world as its culture. The country took decades to earn its reputation as the Factory of the World, but it now boasts a supply chain and manufacturing ability that few countries can match.

Creative use of the country’s networked manufacturing and logistics hubs make mass production both cheap and easy. Clothing, electronics, toys, automobiles, musical instruments, furniture — you name it and you’ll find a manufacturer in China who can turn your intangible concept into mass-manufacturable reality in mere days. And they’ll do it for cheaper than anywhere else in the world.

It was just a matter of time until an intrepid Chinese entrepreneur with a tech background decided to take on Coca-Cola and PepsiCo.

China is also home to one of the world’s largest e-commerce and tech ecosystems. Hundreds of startups dot the landscape, and the amount of money being raised and spent on innovating around the country’s industrial heft is mind-boggling.

So it was just a matter of time until an intrepid Chinese entrepreneur with a tech background decided to take on Coca-Cola and PepsiCo. The tech revolution hasn’t yet affected the bottled beverage industry quite as much as it has others. Incumbent giants therefore could lose a sizable chunk of market share if a company could just manage to weave together China’s manufacturing proficiency and agility with the modern tech startup philosophy of “moving fast and breaking stuff.”

Genki Forest, a Chinese direct-to-consumer (D2C) bottled beverage startup, is one such contender. A philosophy centered around iteration informed by data, quick turnarounds and a laser focus on taking advantage of China’s huge e-commerce ecosystem has helped this company’s revenues rise rapidly since it started five years ago. Its sugar-free sodas, milk teas and energy drinks sell in 40 countries and generated revenue of about $450 million in 2020. The company aims to reach $1.2 billion this year.

If anything, Genki Forest’s valuation has shot up even faster. It recently completed its fourth VC round that values it at a whopping $6 billion, triple the price it fetched a year earlier, and it has so far raised at least half a billion dollars.

It’s striking how closely Genki Forest’s operations resemble that of a tech startup. So we thought we should take a closer look and see what this company’s graph can tell us about the new wave of Chinese D2C entrepreneurship looking to take over the globe.

Finding a bigger wave to ride

The bottled beverage industry wasn’t what Genki Forest’s founder, Binsen Tang, initially set out to tackle. His first startup was a successful casual, mostly mobile gaming outfit known as ELEX Technology. It was nowhere near record-breaking, though — some 50 million users logged on to a few popular games in over 40 countries worldwide, including one of the first versions of Happy Farm, a predecessor to Zynga’s Farmville. But Tang wasn’t satisfied and eventually sold ELEX Technology to a publicly listed company for about $400 million in 2014.

Tang would walk away with a few important lessons. He’d learned by now that Chinese products were already competitive globally, whether people realized it or not, and that and geographic arbitrage was real, Happy Farm being the perfect example of this. Lastly, he now knew that it was far more important to choose the right “racetrack” (as Chinese investors and entrepreneurs like to put it) than to have a great product.

Picking the right race to win was perhaps the most important takeaway. It’s also an idea that sets Chinese entrepreneurs apart from their Western counterparts — the most worthwhile endeavors are in identifying the largest and most rewarding market at hand, regardless of one’s previous expertise. It was what led Zhang Yiming to create ByteDance, and Lei Jun to found Xiaomi.

That very philosophy led Tang to build Genki Forest. After selling ELEX Technology, Tang didn’t go back to the business that netted him his first pot of gold. As much as he had benefited from the rise of the mobile internet, he thought there was a far bigger opportunity building a consumer brand and applying the lessons he learned from programming to the manufacture of tangible products.

He soon set up his own investment fund, Challenjers Capital, convinced that the next big tech opportunity in China was in tech’s application to everyday consumer products. He soon began to invest in everything from ramen and hotpots to bottled beverages.

China’s quickly expanding e-commerce ecosystem and the plethora of D2C businesses flourishing on Alibaba and JD.com would also influence his decision to sell directly to his target audience rather than take the traditional route. But to truly understand his motivations, we need to take a look at the extremely unique D2C environment in China and how it has changed over the years.

What’s different about Chinese D2C?

“China doesn’t need any more good platforms,” Tang told his team in an internal email in 2015, “but it does need good products.” Tang was talking about how the age of building infrastructure for e-commerce in China was largely over; it was now time to create brands that could take advantage of the advanced distribution network that had been laid out.

Other investors noticed as well. Albus Yu, principal at China Growth Capital, told me that his fund had stopped making investments in independent consumer-facing platforms or marketplaces for a while. “2014 might have been the last year it was economically feasible to start such a business due to the soaring cost of acquiring customers and the strength of incumbents,” he said.

Indeed, 2015 was the year when CACs began to exceed or at least rival ARPUs for Alibaba and JD.com.

In China, that distribution network was present across the digital and physical worlds. Online, there was immense market power concentrated in the hands of just two players: Alibaba and JD.com, which used to have, and still maintain, 80% or above in market share.

In fact, the dominance of Alibaba, in particular, was so overwhelming that for years, VCs invested not in D2C, but in “Taobao brands,” since that was the only channel one needed to conquer in order to make it.

Customer acquisition was therefore straightforward — throw everything into advertising on Alibaba’s Tmall platform, especially during its annual flagship shopping festival, Singles’ Day. Even today, garnering a top spot in one of the category leaderboards remains a surefire way to build brand awareness, investor interest, as well as sales records.

Physically, the Chinese market also differs greatly from much of the developed West. Years of heavy investment in logistics by the private sector, accelerated by government support and infrastructure buildout, means that delivery costs have come down significantly over the years, even dipping below $0.40 per package wholesale as of this year. Innovations such as return insurance have also sped up customer adoption.

By 2016, China was shipping 30 billion packages a year, already accounting for 44% of global shipments. That number has been doubling every three years and is expected to exceed 100 billion this year. And the low cost of delivery is one of the biggest reasons for China’s outsized e-commerce market — the largest globally and estimated to reach $2.8 trillion in 2021, more than triple that of the No. 2, the U.S.

Express parcels sit stacked at a logistic base of e-commerce giant Suning before the 618 Shopping Festival

Express parcels sit stacked at a logistic base of e-commerce giant Suning before the 618 Shopping Festival. Image Credits: VCG

Present-day China also presents another edge: Proximity to an advanced, flexible manufacturing network and supply chain for the vast majority of consumer products, and the ability to outsource almost everything to them.

The original equipment manufacturers of years past have long since evolved into original design manufacturers. An expected consequence of being “the Factory of the World” for so many years, making goods for some of the best brands in the world, is that some of the knowledge was bound to transfer.

It may be difficult for outsiders to understand just how strong China’s networked manufacturing hubs are these days. What used to take weeks now takes mere days, the lead times shortened drastically by software, robots and other advancements. For example, Chinese cross-border ultra-fast-fashion company Shein has compressed design-to-ship timelines to as little as seven days.

And it’s definitely not just for making crop tops. The turnaround can be astonishingly fast even when manufacturing completely unfamiliar goods, such as when electric vehicle maker BYD turned its factory into the world’s largest face mask plant in just two weeks when the COVID-19 pandemic struck last year.

Companies leverage this manufacturing flexibility and agility for more than just speed. Chinese cosmetics upstart Perfect Diary uses it to launch twice as many SKUs as foreign competitors. In addition, the quick turnaround allows agile brands to take advantage of that most ephemeral of IP, memes.

It’s not to say that the Chinese supply chain is inaccessible to foreign entrepreneurs. Best-selling mattress maker Zinus, for example, is founded by a South Korean, but its products are manufactured in China and sold mostly on Amazon to U.S. customers.

It’s just that very few non-Chinese companies have figured out how to tap as deeply into the supply chain as this new crop of Chinese D2C brands, which can require years of working not just alongside but physically inside the factories, building trust and know-how. Shein, for example, watches carefully what other brands are making by staying close to the factories.

The China opportunity

Before global sensations such as TikTok weakened the mantra, “copy to China” used to be a dominant characterization of Chinese startups. In December 2015, when Tang registered the Genki Forest trademark, that was still very much a relevant strategy.

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Source: https://techcrunch.com/2021/07/25/data-driven-iteration-helped-chinas-genki-forest-become-a-6b-beverage-giant-in-5-years/

Ecommerce

Local Small business claims #1 dog treadmill retailer with Dog…

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At least $200 below the retail Giant’s prices with Free S&H inside the U.S.

Local small business mydogtreadmill.com is being granted right to partner with top manufacturers GoPet and PetRun offering the Best quality dog treadmill for sale today. Users of https://mydogtreadmill.com can expect savings starting around $200 below Retailers Prices.

Here is how they can offer the best dog treadmill for sale:

They offer the Best Large Breed Tread wheel GoPet Large Breed Tread wheel $1,969.89 compared to those $2,368 right now. The GoPet Treadwheel is the #1 Dog treadmill for sale today. A completely self propelled unit designed for Indoor use and storage

The Top professional large dog treadmill PetRun 725- $1,489.97. They beat them selling at $1,808.39.

This is the top professional dog treadmill for sale for Physical Therapy. This Motorized dog treadmill Is ideal for Injury Rehab. Ultra Quiet operating sound and rail guards help to keep your pet safe during use.

The GoPet Small Breed Tread wheel is only $799.89. They are selling this at $911.80.

This Simple non motorized Dog Treadmill for sale is Specifically designed for smaller breeds.

Finally the best professional small breed dog treadmill PetRun 720 $1,149.87. Compared to them $1,318.62 price.

This Dog Treadmill for sale is the Best option for Injury Therapy for smaller breeds

When asked how this all started, owner K9 Kev told us this:

I had an amazing hound when i was younger and he developed problems early. Constantly being in and out of the vet, we were as a family always aware of the benefits of Physical Therapy in all pets. We considered buying a dog treadmill. Find the perfect Dog treadmill for sale to keep your canine physically active. If you have never thought about needing a Dog treadmill Here are a few reason:

Why do I need a Dog Treadmill?

The Number one reason average K9 owners need a Dog Treadmill is because they live in a place or situation where it may be difficult to take their dog outside for extended time. Here are other reasons you may consider in your purchase:

1. Keeps your dog physically active

If physical limitations or time restraints prevent you from walking your pet, a treadmill will be an ideal remedy. This equipment will help you monitor your pet’s daily exercise. It can help your canine burn off calories to maintain a healthy weight.

2. Suited for Overweight Dogs

An overweight dog risks falling ill to heart-related and other life-threatening diseases. The best intervention to keep them fit is by investing in a treadmill. With a healthy weight, your pet will be at lesser risk of contracting these illnesses. This is why we offer the best dog treadmill for sale.

3. Ideal for Disabled Owners

A physical disability should not get in your way of keeping your dog fit. With a dog treadmill, it will be easier to give your pet the exercise it deserves. You also will not have to hire a dog walker or worry about going outside with your pet.

4. Post Injury Rehab and Treatment

Your dog may recover quickly from surgery or an injury by walking on a Dog Treadmill.

With this equipment, you can control Rehabilitation variants such as speed and difficulty levels to prevent further injury. The goal here is to get your dog to heal and stay fit at the same time. Here is why we offer the best dog treadmill for sale here.

Why Our (Human) Treadmills are dangerous for Dogs?

Human treadmills produce mechanical sounds that tend to scare away most dogs. Unlike dog treadmills, they lack the safety features like raised sides that prevent your pet from falling. They also run at a higher speed, which may cause anxiety to your canine.

Located in the heart of Los Angeles, mydogtreadmill.com has forged deep relationships with the top two dog treadmill manufactures in the United States. This is why they are able to offer free shipping and handling here in the U.S.A. “We are excited about the opportunity to provide American Quality at great prices,” says K9 Kev. mydogtreadmill.com continues to bring the K9 pet industry the best reviewed Products for Physical and Obedience training. Please visit our website https://mydogtreadmill.com for more products to help take care of your pet.

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Source: https://www.prweb.com/releases/local_small_business_claims_1_dog_treadmill_retailer_with_dog_treadmill_for_sale_professional_dog_treadmills_starting_200_lower_than_any_other_place_online/prweb18205874.htm

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Blockchain

Reasons behind Monday’s Crypto Market Sell-off Panic: Evergrande Group shaky Bankruptcy Threat Ahead

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The fall down of the Chinese real estate giant Evergrande Group swept the entire cryptocurrency market. Evergrande’s financial crisis caused investors to worry about China’s catastrophic debt default, which caused panic selling in the market.

Webp.net-resizeimage (9).jpg

Bitcoin and Ethereum are the first to bear the brunt, and the entire cryptocurrency market value has evaporated by $250 billion.

According to Coinmarketcap, starting from Monday morning, the value of global cryptocurrencies plummeted to a low of about 1.8 trillion U.S. dollars, which occurred at approximately 8 o’clock UTC time, a decrease of nearly 11% from the previous 24 hours. The market value has evaporated by more than $250 billion.

At the time of writing, the current market value has rebounded, around $1.9 trillion.

Bitcoin price fell by 9% today to less than $42,669, which is the lowest level in more than a month, while the price of Ether fell nearly 10% to a low of $2,940, the lowest since early August level.

Bitcoin was trading at $42,863.02, and the price of Ether returned to the support level of $3,000, trading around $3,034.31 at the press time.

The remaining cryptocurrencies, such as Solana’s sol and Cardano’s ADA, which have skyrocketed recently, also fell by about 10% at the peak of the sell-off.

The reason for this plunge is not just because the Chinese real estate giant Evergrande Group is carrying a massive debt of $305 billion and is unable to repay the debt due this month, but also faces the risk of bankruptcy which poses a threat to the broader market.

And there is also the panic selling caused by the increasingly stringent national regulatory review of cryptocurrencies.

Recently, according to a Bloomberg report, the derivatives regulator is notably investigating the leading cryptocurrency exchange Binance for possible insider trading and market manipulation.

Also, as reported by Blockchain.News on September 13, The South Korean Financial Services Commission (FSC) has begun to tighten the supervision of local and overseas cryptocurrency trading platforms. This regulation may terminate nearly two-thirds of unapproved South Korea’s cryptocurrency exchanges for legal transactions.

Image source: Shutterstock
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Source: https://Blockchain.News/analysis/reasons-behind-monday-crypto-market-sell-off-panic-evergrande-group-shaky-bankruptcy-threat-ahead

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AI

Stratis Joins ‘APPG Blockchain’ to Help Guide UK Blockchain Policy

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[PRESS RELEASE – London, United Kingdom, 20th September 2021]

Stratis has joined the UK’s All Party Parliamentary Group on Blockchain (APPG Blockchain) to contribute its knowledge and experience of deploying blockchain for innovative use-cases. APPG Blockchain includes organisations like Capita, the IOTA Foundation, SAP and the British Standards Institute (BSI) who collaborate with an array of experts in public evidence-forums to provide tangible recommendations to policy-makers working on the UK’s approach to blockchain.

As one of the UK’s most prominanent blockchain projects the Stratis team will contribute its knowledge and experience from serving enterprise and open-source blockchain use cases.

The APPG on Blockchain is currently focused on furthering undersetaning of ‘Blockchain-as-a-Service’ and the opportunities it presents for UK organisations. As the world’s most developed BaaS provider Stratis will share examples of early use cases for its BaaS platform as well as help to inform recommendations on how the UK can make it easier for organisations to benefit from the collaborative and efficient approach that BaaS enables.

Other specific areas of focus are Decentralised Finance (DeFi) where Stratis will contribute its understanding from building interoperability between the Stratis blockchain and Ethereum, as well as the role of Decentralised Exchanges, ahead of the release of ‘Opdex’, the first DEX native to the Stratis blockchain. This workstream is expected to help UK financial services firms to engage with and benefit from the DeFi revolution.

Also on the group’s agenda for 2022 are stablecoins and Central Bank Digital Currencies (CBDC). Stratis recently announced the world’s first Sterling backed stablecoin, known as GBPT, to support digitally issued equities and debt instruments. With GBPT any natively digital securities will be able to yield dividends or income more efficiently using digital currency.

Professor Birgitte Andersen, CEO, Big Innovation Group and Secretariat APPG on Blockchain said: “Adding Stratis, one of the UK’s most established and innovative blockchain platforms, brings additional real-world experience to the APPG on Blockchain. Blockchain technology is transforming many areas of business, fiance, public services and our lives and the UK has a real opportunity to take a leadership role that supports economic value creation, high skilled jobs and a fairer society.”

Chris Trew, Founder & CEO, Stratis commented: “Collaboration is central to the original vision of blockchain and we’re pleased to be working with UK policy-makers and enterprises to help all stakeholders in the UK benefit from the transition to blockchain. Since leaving the European Union the UK has the autonomy to chart its own course on blockchain, it’s a huge opportunity to position the nation for the next big technology transformation.”

About Stratis

At Stratis our mission is to simplify the adoption of blockchain technology within existing computing environments.

To deliver on this mission we have built a Blockchain-as-a-Service (BaaS) platform written entirely in C# and based on the Microsoft .NET Core framework. This means more than 10m developers across the world with C# skills can easily apply blockchain within their existing tech stack.

Decentralized and highly secure, the Stratis blockchain offers an ideal platform for deploying decentralized applications incorproating smart contracts. Over $2 Billion in value has been successfully secured on the Stratis public blockchain.

Stratis is more than blockchain infrastructure. We work with developers to help them understand how tokenization and blockchain can drive value.

Our platform is used today by gaming companies to support new models like play-to-earn, by enterprises for supply-chain optimization as well as for DeFi & NFT use cases.

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Source: https://coingenius.news/stratis-joins-appg-blockchain-to-help-guide-uk-blockchain-policy-3/?utm_source=rss&utm_medium=rss&utm_campaign=stratis-joins-appg-blockchain-to-help-guide-uk-blockchain-policy-3

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AI

Stratis Joins ‘APPG Blockchain’ to Help Guide UK Blockchain Policy

Published

on

[PRESS RELEASE – London, United Kingdom, 20th September 2021]

Stratis has joined the UK’s All Party Parliamentary Group on Blockchain (APPG Blockchain) to contribute its knowledge and experience of deploying blockchain for innovative use-cases. APPG Blockchain includes organisations like Capita, the IOTA Foundation, SAP and the British Standards Institute (BSI) who collaborate with an array of experts in public evidence-forums to provide tangible recommendations to policy-makers working on the UK’s approach to blockchain.

As one of the UK’s most prominanent blockchain projects the Stratis team will contribute its knowledge and experience from serving enterprise and open-source blockchain use cases.

The APPG on Blockchain is currently focused on furthering undersetaning of ‘Blockchain-as-a-Service’ and the opportunities it presents for UK organisations. As the world’s most developed BaaS provider Stratis will share examples of early use cases for its BaaS platform as well as help to inform recommendations on how the UK can make it easier for organisations to benefit from the collaborative and efficient approach that BaaS enables.

Other specific areas of focus are Decentralised Finance (DeFi) where Stratis will contribute its understanding from building interoperability between the Stratis blockchain and Ethereum, as well as the role of Decentralised Exchanges, ahead of the release of ‘Opdex’, the first DEX native to the Stratis blockchain. This workstream is expected to help UK financial services firms to engage with and benefit from the DeFi revolution.

Also on the group’s agenda for 2022 are stablecoins and Central Bank Digital Currencies (CBDC). Stratis recently announced the world’s first Sterling backed stablecoin, known as GBPT, to support digitally issued equities and debt instruments. With GBPT any natively digital securities will be able to yield dividends or income more efficiently using digital currency.

Professor Birgitte Andersen, CEO, Big Innovation Group and Secretariat APPG on Blockchain said: “Adding Stratis, one of the UK’s most established and innovative blockchain platforms, brings additional real-world experience to the APPG on Blockchain. Blockchain technology is transforming many areas of business, fiance, public services and our lives and the UK has a real opportunity to take a leadership role that supports economic value creation, high skilled jobs and a fairer society.”

Chris Trew, Founder & CEO, Stratis commented: “Collaboration is central to the original vision of blockchain and we’re pleased to be working with UK policy-makers and enterprises to help all stakeholders in the UK benefit from the transition to blockchain. Since leaving the European Union the UK has the autonomy to chart its own course on blockchain, it’s a huge opportunity to position the nation for the next big technology transformation.”

About Stratis

At Stratis our mission is to simplify the adoption of blockchain technology within existing computing environments.

To deliver on this mission we have built a Blockchain-as-a-Service (BaaS) platform written entirely in C# and based on the Microsoft .NET Core framework. This means more than 10m developers across the world with C# skills can easily apply blockchain within their existing tech stack.

Decentralized and highly secure, the Stratis blockchain offers an ideal platform for deploying decentralized applications incorproating smart contracts. Over $2 Billion in value has been successfully secured on the Stratis public blockchain.

Stratis is more than blockchain infrastructure. We work with developers to help them understand how tokenization and blockchain can drive value.

Our platform is used today by gaming companies to support new models like play-to-earn, by enterprises for supply-chain optimization as well as for DeFi & NFT use cases.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/stratis-joins-appg-blockchain-to-help-guide-uk-blockchain-policy-4/?utm_source=rss&utm_medium=rss&utm_campaign=stratis-joins-appg-blockchain-to-help-guide-uk-blockchain-policy-4

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