Specialist
Former Manager at Beijing Missfresh E-commerce Co Ltd
Agenda
- Number of cities Miss Fresh has entered, top cities’ daily order volume and gross merchandise volume
- Miss Fresh’s biggest rivals in Beijing and Shanghai, competitive merits in capital, assortment and management
- Miss Fresh’s average revenue per order and purchase frequency
- Miss Fresh’s gross margin by product category
Questions
1.
What are the channels of fruit supply for online fresh produce platforms like Miss Fresh? Are they noticeably different from one another?
2.
How about the scale effect of a certain product? Is the purchasing price lower than other online platforms? Or is the cost higher for this product because of high quality standards?
3.
Does Miss Fresh have rights to reject a delivery?
4.
Why does not Miss Fresh set national standards and regulations? How is it possible that the same product is accepted in some regions while rejected in others?
5.
Is Miss Fresh purchasing following the principle of the best price?
6.
Will the purchasers choose an upstream supplier based on rapport instead of the best price?
7.
Is there a sound internal supply chain system for Miss Fresh in stocking, namely the purchasing amount?
8.
Is there a system that for example, Miss Fresh sets a rigid target of RMB 10m for northern China and RMB 8m for central China with an expected growth rate at 20% to 30% and the branches will be punished if failed?
9.
You have mentioned that Miss Fresh’s fruit sector was not profitable at the beginning. How have the fruit sector’s gross margins changed during the past few years?
10.
How exactly did Miss Fresh turn its negative gross margins to positive gross margins?
11.
On Miss Fresh’s mobile app, we can see that cherries are priced at RMB 39.9 every 450g. Could you breakdown the cost for us, such as the price offered by wholesalers and the cost of processing, packing and transportation? What is the gross margin of cherries?
12.
If the items shown on the first page are with gross margins of less than 10% as you mentioned, and its groceries are with negative gross margins, which items are really profitable?
13.
Do its imported fruits, such as fruits imported from Thailand, the US and New Zealand, generate higher gross margins than local fruits?
14.
How many local and imported fruit suppliers are supplying Miss Fresh regularly?
15.
Does Miss Fresh have any special demand for its suppliers, such as demanding for the best-quality fruits or requiring them to sort out the fruits in advance?
16.
Were you referring to the volume of each order by saying “Miss Fresh’s orders vary a lot in volumes”?
17.
How many SKUs are there in the fruit segment usually?
18.
What is Miss Fresh’s corporation structure? Who is the boss you were referring to?
19.
You have mentioned that some SKUs in the fruit segment are performing poorly. Is this the common case?
20.
How does Miss Fresh make weekly, monthly and quarterly plans?
21.
Miss Fresh is competing with Dingdong Maicai, aiming to occupy the market in Shanghai and is selling cherries packed in 450g at RMB 39.9. Dingdong Maicai could sell the same slightly cheaper at RMB 35 to gain competitiveness. In this case, will Miss Fresh introduce new product segments to win over customers?
22.
How many central warehouses does Miss Fresh have?
23.
As you mentioned, a third-party logistics company or its suppliers are managing the transportation between suppliers and central warehouses. Who bears the losses incurred during the transportation?
24.
You have mentioned that fruits will be kept in the central warehouses for 2-3 days. Is that correct?
25.
A report in this April states that Miss Fresh has over 1,500 last-mile warehouses nationwide covering 20 cities. Are the figures accurate? Has Miss Fresh shut down any last-mile warehouses? If so, why?
26.
Who decides the items to be launched in different cities?
27.
The average turnover period of fruits in central warehouses is about three days except for those fruits that could be stored for a long time and not go bad. What is the fruits’ average turnover period after they are delivered to last-mile warehouses?
28.
There are a lot of out-of-stock products on Miss Fresh’s platform. There is a button that customers could click to receive alerts when the products arrive in stock. How long does it take to restock products?
29.
How does Miss Fresh create a popular product?
30.
What are the important criteria when Miss Fresh is selecting its fruit products?
