Hand in hand with Nova Vision (with Formosa Optical as one of its subsidiaries), Baiyangwang held a press conference on cooperation on May 10 and officially announced the establishment of an exclusive online shopping mall for the independent Formosa brand and a joint effort for arranging the new retailing ecosystem for businesses. Mr. Fu Gang, Chairman of the Board, and Mr. Liao Guanghui, General Director of E-business, from BAHEAL Pharmaceutical CO.,LTD, and Mr. Wang Zhimin, Chairman of Nova Vision Group, among other representatives of the two parties, attended the press conference, at which the parties signed an agreement on cooperation and reached a consensus on cooperation models. In the future, Baiyangwang will provide professional B2C services with integrated online platform erection, supply of goods and logistics for Formosa Optical as the technical service provider and product supplier.

A New Attempt of “Win-win Cooperation” under the “New Retailing” Business Format

Engaged in the R&D and application of B2C technologies for pharmaceutical industry, the Baiyangwang Team under BAHEAL Pharmaceutical Group is mature in technical application and enjoys a solid operation basis. The present cooperation is also the first crossover explorative effort under the “new retailing” business format.

“Last year, Jack Ma put forward the concept of ‘new retailing’ for the first time at the conference in Yunqi, Hangzhou, saying that there would be no longer ‘B2C’ in the future but ‘new retailing’ which calls for integration of online and offline operations with logistics. This development trend is making its appearance now, but it is not easy for Baiyangwang, which has been devoted to professional B2C pharmaceutical retailing in the latest years to snatch the market share under ‘new retailing’,” said General Director LIAO Guanghui from Baiyangwang. “Therefore, we are exploring and cooperating with traditional channels, trying to provide ‘all end-user contact’ technology and portals for offline outlets and satisfy the scenario needs of ‘online and offline channels’ by availing the powerful product and logistic capacity of Baiyangwang itself.”

In a traditional optician’s store, the most common consumption scenario is that a consumer walks into the store, chooses the frame and has the lenses fitted, and then a complete purchase process ends here. Such a single model, however, is no longer able to meet the diversified consumption needs nowadays. “Today, consumers are used to one-stop shopping and they hope to fulfill the purchase in a most efficient way in a centralized place. For instance, many people would like to buy some eye care products for themselves or for their families to prevent them from eye problems when fitting a pair of lens, which can hardly be satisfied in a traditional store. This makes it extremely urgent for us to engage in the upgrading to ‘new retailing’ on the supply side,” said Mr. Wang Zhimin, Chairman of Nova Vision (the parent entity of Formosa Optical).

The size of a physical store limits the types and amounts of products it displayed. However, a virtual shopping mall in the physical stores can not only solve the problem of “few choices in physical stores” effectively but also improve the profitability of these stores. In some sense, therefore, Baiyangwang is more for providing solutions to building online service models for traditional channels,” added LIAO.

“Integrated Channels” Benefit 10-million-level Users

Such integration of channels not just brings a new approach to development to online suppliers and offline physical stores but, more importantly, is able to open up the user platform to benefit 10-million-level users. “All exploration in business models will finally rest on serving the consumers. This crossover under the ‘new retailing’ business format is most evidently characterized by its ability to enable a large number of consumers to obtain tangible benefits in a short period of time. Now we are making active attempts with Formosa Optical in developing various consumption schemes to facilitate real landing of ‘new retailing’,” said LIAO.

Therefore, the consumption scenario is more likely to be a user identity of a platform in the future which can be generally used among different platforms and enjoy membership benefits in offline stores. Meanwhile customers of original outlet stores can also enjoy online services in a most convenient manner.

The signing ceremony