Dingdong Shopping has huge financing, fresh food e-commerce has truly entered the explosive stage in 15 years

On April 6, Gaohu Capital announced that Dingdong Maicai received US$700 million in financing.
It is worth mentioning that the participants are almost all top institutions in the domestic big consumer industry track.

According to some media, this is the largest financing of the Fresh Instant Retail Track so far.
Pay attention to the qualifier-fresh live track.

If the word "immediate" is removed, on March 30, Shihui Group announced that it had received US$750 million in financing; earlier, Xingsheng had preferred to obtain a total of US$1.
5 billion in financing from Tencent and JD.
com.

Fresh food e-commerce has experienced ups and downs for 15 years, but with the help of the epidemic, it has truly entered the outbreak stage.
With the entry of giants and capital blessings, Dingdong Shopping has entered the fast lane.

First track

In 2005, Yiguo.
com was established, and the vertical fresh food e-commerce began to sprout; 7 years later, a fresh food e-commerce platform called "Ben Lai Sheng" quickly became popular with "Chucheng Entering Beijing, Beijing Litchi Battle"; 2013 , E-commerce giants Alibaba and JD.
com began to deploy the fresh food industry.

But in 15 years, the fresh food e-commerce industry has never been as lively as last year.

In 2020, the new crown epidemic broke out suddenly and spread rapidly from Wuhan to the whole country.
Under the influence of the "City Lockdown Order", 1.
4 billion people started the home isolation mode, shopping for food, shopping, shopping in the mall.
.
.

When the epidemic was at its worst, a netizen shared his panic buying strategy: "Grab Hema Xiansheng at 0 o'clock, Dingdong at 6 o'clock, Meituan grocery shopping at 7 o'clock, 8 o'clock daily, Yonghui at 9 o'clock.
.
.

In the past, these ordinary commodities turned out to be "scarce products.
"

When offline shopping activities were forced to be suspended, people began to flock online, especially fresh food e-commerce platforms such as Dingdong Maicai, Hema Fresh, and Daily Youxian, which provide home-to-home services, because the epidemic quickly became popular.

Finance blogger Gelong said on Weibo: One thing dies, one thing lives.

Fresh food e-commerce platforms ushered in spring.

In this round of outbreak, Dingdong Maicai has shown unprecedented expansion speed.

At the beginning of 2020, Dingdong Maicai set up an ambitious plan to open 200 front-end warehouses in Beijing.
At the end of the year, Dingdong Maicai opened a total of 400 front-end warehouses across the country, covering Nanjing, Guangzhou, Anhui, Sichuan and other provinces and cities.
In the first two years of its establishment, the number of front-end warehouses for Dingdong Foods was only more than 500.

In one year, the number of front-end warehouses for Dingdong Foods almost doubled.

For expansion, Dingdong Maicai has been cautious before.
After its establishment in 2017, this company has never left its base camp in Shanghai for two years.
Even in the expansion in 2019, it chose to be in the Yangtze River Delta regions such as Jiangsu, Nanjing, and Kunshan.

Choosing to expand at a slow pace is not only Dingdong’s choice, but also a limitation of the front-storage model.

The pre-warehouse model represented by Dingdong Shopping has a natural "reproducibility and low scale effect".
Even if a profit is achieved in one area, it is often impossible to move to another area.
Therefore, in the expansion process of the pre-storage model, the rhythm must be mastered.

The first is funding.
At present, Dingdong's grocery shopping has not yet achieved profitability and lacks hematopoietic capacity.
The founder Liang Changlin once said that in an ideal state, each front warehouse will operate for more than one year, the daily order quantity will reach about 1,000 orders, and the average customer order quantity price will exceed 65 yuan.
After the cost of order fulfillment is eliminated, profits can be realized.
.

However, with the large expansion, it is obviously impossible to require Dingdong to achieve “both scale and profitability”, so external blood transfusion is particularly important.

This round of US$700 million in financing provided capital ammunition for Dingdong's continued expansion.

In addition to capital, the ability of Dingdong's grocery shopping supply chain is an important guarantee in the expansion process.

Practice internal strength

If the number of open cities is the face of Dingdong's grocery shopping, then the organization and management and supply chain capabilities are the culprit.

In this round of financing, Dingdong Maicai will invest in supply chain and team building in addition to the expansion of new areas.

Liang Changlin, the founder of Dingdong Maicai, was born in Xingwu and worked as a soldier for 10 years.
After he changed business, he founded Mamabang and Dingdong Community projects.
Dingdong Maicai was his third entrepreneurial project.

Dingdong Maicai was established in 2017.
At that time, the fresh food track had begun to take shape.
Jack Ma and Zhang Yong appeared in the Jinqiao Hema Fresh Store.
Hema completed the "acquaintance" with Ali; another front warehouse platform every With a valuation of more than US$1 billion, Riyouxian ranks among the unicorns.

From the time of its establishment, Dingdong is not too early to buy food, but it has quickly become a "rising star.
"

This is closely related to the organization and management capabilities of Dingdong Shopping.

At the beginning of its establishment, Dingdong Maicai adopted a method of self-operated grid warehouses, self-built distribution teams, and semi-militarized management of distribution personnel.
Liang Changlin once said in an interview, "I think the regular army has more combat effectiveness.
"

In addition, the supply chain capabilities of Dingdong Foods also provide a guarantee for big expansion.

Since ancient times, China has always relied on the small-scale peasant economy, with scattered upstream and downstream agriculture, lacking the ability to scale.
From upstream planting, breeding, and production, to sales at the end, there is a long chain of collections, agents, distributors, and wholesalers at all levels in the middle.
This has resulted in the domestic fresh food e-commerce penetration rate of less than 10%, while the overall e-commerce penetration rate has exceeded 30%.

In 2017, when Dingdong Foods was established, it adopted the method of urban batch procurement + direct supply from brand suppliers.
Although this approach has improved the company's ability to resist risks, the circulation efficiency has not undergone revolutionary changes.

Until two years later, when the revenue of Dingdong Maicai increased from 38 million yuan in 2017 to more than 5 billion yuan in 2019, it means that Dingdong Maicai has the ability to source directly.

According to the information disclosed by Dingdong Maicai, at the end of the supply chain, Dingdong Maicai adheres to the development of the direct-harvesting model of the production area.
The team goes deep into Yunnan, Guizhou, Shandong and other fresh produce areas, and invests in the construction of multiple “Dingdong Maicai cooperative planting/ Breeding cooperation base".

At present, there are more than 10,000 SKUs of Dingdong's fresh food products, which are produced in more than 20 countries and regions around the world.
The commodity categories include high-quality vegetables, fruits, aquatic products, meat and poultry, etc.
, and more than 85% are sourced directly from the production area and directly supplied to the production area.
It has reached 350, with over 600 direct supply suppliers.

During the epidemic, Dingdong's organizational capabilities and supply chain capabilities have been reviewed.

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：itlaoyou-com

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