Core Insights - Oriental Selection is planning to open its first flagship store in Beijing, with a recruitment drive for store managers offering salaries between 15,000 to 30,000 yuan, prioritizing candidates with experience in "food and retail" management [1][3] - The flagship store will cover approximately 400 square meters and will offer a variety of products including fresh food, snacks, daily necessities, and a dining area with coffee and light meals [1][3] - The company aims to leverage offline retail as a new growth avenue, especially after facing challenges in its online business due to the departure of key personnel and declining sales [1][10] Recruitment and Management - The store manager position requires over five years of experience in the retail industry, with a preference for candidates who have managed teams of more than 15 people and have experience in convenience store chains like Convenience Bee, 7-Eleven, and Lawson [3] - The company has recently expanded its business scope to include restaurant management and delivery services, indicating a strategic shift towards integrating dining options into its retail model [3][4] Business Strategy and Market Position - The flagship store is expected to serve as a physical touchpoint to connect online and offline sales, potentially enhancing customer experience through services like in-store pickup and immediate delivery [6][7] - Oriental Selection's previous attempts at rapid delivery services faced challenges, leading to a reevaluation of its logistics and fulfillment strategies [6][10] - The company is also exploring synergies with New Oriental's existing educational centers to drive foot traffic to its stores, which could help in customer acquisition and retention [7][9] Competitive Landscape - The offline retail market is becoming increasingly competitive, with other live-streaming companies like Three Sheep and Friends, and Meiwang also venturing into physical stores [8][9] - Oriental Selection's flagship store will be located in a competitive area surrounded by established players like Fudi, Hema Fresh, and Sam's Club, which will test its product selection and differentiation strategies [9][10] Financial Performance and Challenges - The company has experienced a significant decline in sales, with GMV dropping from 14.3 billion yuan to 8.7 billion yuan year-on-year, particularly affected by the loss of key influencers [10][11] - The user demographic has shifted, with over 50% of its audience being aged 31-40, indicating a focus on young professionals and mothers [11] - The company is increasing its investment in its app, with GMV from the app rising from 8.4% to 15.7% of total sales, and the number of paid members growing to 264,300 [11]
东方甄选向线下求增量