Preparations for the "double 11" banking business differentiation exacerbated

Preparations for the

Source Beijing business daily

Reporter Cui Qibin Song Yi Tong Wu limit

The annual electric commerce Carnival "Shuang11" is coming. Compared with the intensive preheating of the electronic commerce platform, the momentum of the electronic commerce platform in the banking sector is obviously in the downturn. On November 8, a Beijing Business Journal reporter found that only a few e-commerce platforms in the banking sector had put up the words "double 11 promotions". More banks chose to cooperate with merchants and e-commerce platforms to promote credit card consumption and periodic preferences. In the view of industry insiders, as a traditional financial institution, banks are rooted in offline outlets and lack of power in publicity, leading to low brand awareness. In the future, cooperation between banks and e-commerce platforms will not stop, but how to strengthen their own capabilities and avoid conflicts with their own businesses as far as possible is also a problem for banks and e-commerce. The problems that need to be considered together between platforms.

Strong and weak differentiation

On November 8, a Beijing Business Journal reporter found that the propaganda of "Shuang11" activities by banks this year was relatively low-key and the differentiation between strength and weakness was obvious.

Among the five state-owned banks, ICBC, China Construction Bank, Agricultural Bank and Bank of China still have e-commerce platforms. On the construction of the bank's e-commerce platform "Shanrong Commerce" personal mall, Beijing Business Daily reporters saw that the bank began to carry out large promotional activities on November 8. The official website clearly marked "11.11 Shanrong Excellent Collection" with a wide range of products, including digital, household appliances, household appliances, home textiles and cosmetics. Nursing, quality wine, food, tea, clothing, shoes and bags and other categories, and placed in the most prominent position of the home page rolling broadcast. Like China Construction Bank, it also focuses on the promotion of "Double 11" activities, including the E-commerce platform of ICBC "Merge E-Purchase". Reporters can see on the "Merge E-Purchase" 11.11 "Whale" section page that participating in promotional activities include home, digital, American and other categories.

However, the E-commerce platform of Agricultural Bank of China is mainly composed of agricultural products, daily department stores and other commodities, and there is no significant "Shuang11" activity on the website.

In the survey, Beijing Business Daily reporters also found that some bank e-commerce companies are facing insufficient flow and sales, many commodities are unavailable, and sales are poor. For example, in the "time-limited group purchase" list of a large state-owned e-commerce platform, there are many daily-use Department stores that are undergoing "bloodletting" half-price discount sale, but the overall sales of many products are only 53.

Comparing with the differentiation situation in which only some banking e-commerce participated in the war, the promotion activities of Internet e-commerce are much stronger: the red envelope rain of Tianmao Global Carnival, the exclusive bags of PLUS members of Beijing East Global Good Things Festival, etc. have already begun early, attracting the attention of many consumers.

High-profile March and awkward situation

As a matter of fact, the banking department was once placed high hopes in the early days of its birth. The reason is that commercial banks, especially state-owned banks, have abundant C-end and B-end customer resources, and can rely on financial services to obtain income, such as the income of payment channels, the income of financing services, etc. At the same time, e-commerce in the banking sector can use lower capital costs to obtain larger sources of funds. Therefore, in the electricity business war several years ago, many commercial banks have been planning their own electricity supplier kingdom.

However, with the passage of time, the differentiation of e-commerce in the banking sector has become more and more obvious. The e-commerce platform, such as merger e-commerce and merger e-commerce, is still in the leading position in the banking sector. However, some players have already adjusted their strategies to merge and integrate their e-commerce platforms. For example, the "exchange and exchange" platform on the earlier line will be launched in 2014. Under the banner of "integration paradise" merger. In the market, a high degree of attention has also appeared on the scale of e purchase platform trading. ICBC Annual Report shows that in 2015, ICBC Finance e E-Purchase transactions totaled more than 800 billion yuan, more than 1 trillion yuan in 2016, compared with 1.03 trillion yuan in 2017.

Su Xiaorui, an industry researcher at Bag Research Institute, pointed out that some e-commerce platforms in banking system did not build evaluation system for commodities and stores, nor did online customer service provide instant consultation. Technical support and innovation are far inferior to traditional e-commerce platforms, and experience is not as good as traditional e-commerce platforms. Good platform makes it difficult for users to retain users. As a traditional financial institution, banks are rooted in offline outlets. They are not strong enough in propaganda and brand awareness. Some old customers of banks do not know that banks have e-commerce platforms.

According to Dong Xizhao, a visiting researcher at Chongyang Institute of Finance, Renmin University of China, there are still great differences between e-commerce and Internet e-commerce in banking department. Their orientations are different. E-commerce in banking department is not their main purpose. Banks mainly serve customers and accumulate customer data, rather than depositing customer data. Direct sales of how many things as the core goal, so the two operating modes are very different, and can not be measured by the same indicators.

How to break through electricity in the banking sector

Since the online banking e-commerce platform was launched in 2012, banking e-commerce has developed for six years. During this period, it has experienced rapid expansion and continued to encounter cold. For banking e-commerce, how to arrange such business in the future is also a matter of concern.

Zhao Yiyang, a senior researcher at Suning Institute of Finance, said that after years of fierce competition, the domestic e-commerce industry has formed a stable e-commerce market pattern, and it is difficult for banks to have new market opportunities. In addition, e-commerce in banking sector are matching e-commerce, similar to the Internet e mode, but these e-commerce on the Internet are strong. Potential market position, so that these matchmaking e-commerce has no market space, banks due to the lack of supply chain infrastructure, unable to engage in self-operated e-commerce business.

However, for some small and medium-sized banks with weak operation and capital strength, it may be more convenient to choose to cooperate with e-commerce platform. In the view of industry insiders, the main purpose of commercial banks to develop e-commerce business in the past is to provide financial services for consumers and businesses. With the gradual close cooperation between banks and Internet enterprises, the joint tapping of customers and traffic has become a way out.

Beijing Business Daily reporters found that during this year's "Double 11" shopping festival, many banks and Internet companies cooperated in marketing to promote credit card consumption or staging business. For example, the official Wechat of Huaxia Bank credit card said that from November 10 to 12, they had purchased all kinds of real goods in Jingdong Mall from 0:00 a day to use China. Summer Credit Card Jingdong Payment Quick Payment 5% discount, a single discount ceiling of 88 yuan (3800 per day).

Su Xiaorui predicts that cooperation between banks and e-commerce platforms will not stop, that some long-term golden partnerships will remain, and that cooperation in commodity supply and diversion will continue, in addition to the traditional payment business.

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