Research On The Business Model Of Social E-commerce

With the deepening integration of social traffic and e-commerce transactions,the proportion of social e-commerce in the online shopping market is also increasing.Public data shows that the proportion of social e-commerce in the overall online shopping market increased from 0.1% to 7.8% in the three years from 2015 to 2018,which reveals the impact of social e-commerce on users and traffic of traditional online-shopping.As a selected social member e-commerce platform,Yun Ji provides a full range of selected commodity services for members,such as beauty makeup,mobile phone digital,maternal and child toys,fresh fruit,etc.Yun Ji has more than 10 million paying members in the four years since the Yun Ji APP was launched in 2015.On May 3,2019,Yun Ji was listed on the NASDAQ,and was hornored as "the first share of Chinese member e-commerce companies in the United States." Because of the rapid development,Yun Ji has attracted the attention of the industry and the academia.What are the core features and key value elements of its business model are the hot issues of current research.Focusing on the typical enterprise of social e-commerce – Yun Ji,this paper focuses on the business model of social e-commerce through three parts.First of all,the paper states the entrepreneurship development of Yun Ji from the three aspects of entrepreneurship process,business model and user flow evolution.Secondly,the business model canvas of Osterwalder and Yves pigneur is applied to analyze nine canvas elements of Yun Ji.Then,this paper discusses and excavates the links of value creation,transmission and acquisition from the perspective of "value".Three different scenarios are used to lead to three main value creation chains.In the value creation chain of "marketing users",ordinary consumers have joined the whole value chain,which is a process of "releasing the individual commercial power that has been suppressed for a long time",and also an opening process of the value chain.Again,by SWOT analysis model,the paper summarizes the advantages of Yun Ji such as information technology ability and brand research ability.In the end,through the analysis of the advantages and disadvantages of the platform,the paper puts forward suggestions for future development from three aspects:focusing on digital development and main business,and strengthening supply chain capability.The research shows that: the change of users’ dual value roles-the core resource,plays the dual role of both consumers and platform entrepreneurs,serving the role of serving consumers.The multiple value roles highlight the transformation of the customer role from a single consumer to a co-creator.And the innovation of business model.At the same time,by segmenting the customers,Yun Ji platform can adopt targeted marketing strategies to improve the ability to integrate the supply chain and operational efficiency,and then return to the "fastest and shortest" value proposition.