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Uxin Group: Customer centric philosophy drives online used car trading platform

Omni-channel marketing cultivates young generations

以全渠道营销吸引年轻消费者

 

Cindy Wang

Chief Marketing Officer

Uxin Group

优信集团

首席营销官

王鑫

Founded in 2011, Uxin Group has rapidly grown to become a leading used car platform in China. Chief Marketing Officer Cindy Wang joined Uxin Group from Uber, where she headed marketing in China. She has worked worldwide for several consulting companies, and was educated in China and the US, where she earned her master’s degree from Yale University.

优信集团自2011年创立以来,发展势头迅猛,现已成为中国领先的二手车平台。首席营销官王鑫加盟优信之前,任Uber优步中国高级市场总监。她先后在中美两地求学,获耶鲁大学硕士学位,并拥有国际工作经历,先后任职于多家咨询公司。

 

COMPANY AND MARKET

企业和市场

 

Please describe what it means to be an online used car trading platform with wholesale and retail businesses?

优信是一个批零兼营的二手车在线交易服务平台——该如何理解这个定位?

 

Uxin offers the business-to-business (B2B) used car trading platform, Uxin Auction, and the business-to-customer (B2C) used car trading platform, Uxin Used Car, and other services. By gathering a massive number of buyers and sellers, Uxin Auction has built a more efficient bilateral market with its professional inspection system and delivery logistics system. In B2C, Uxin Used Car transformed the way people buy cars by offering a multitude of services, such as: used car listing, standardized inspection services, an intelligent pricing system, and comprehensive after-sales service. Uxin Used Car provides an excellent user experience, as well as a strong relationship with used car dealers.

优信品牌旗下分别有B2B(企业对企业)模式优信拍、B2C企业对客户)模式优信二手车,以及其他服务。优信拍聚拢海量买家与卖家,借助专业的车辆检测系统与交付物流体系,构建了高效的B2B双边市场。而B2C领域,优信二手车网上商城借助全面的二手车源覆盖能力,专业的车辆检测技术、先进的智能定价引擎、完善的售后服务保障,搭建起中国领先的二手车在线零售平台。

 

How large is the market for used cars in China? How many used cars are sold annually and at what rate is the market growing?

中国二手车市场规模有多大?二手车年销量是多少,市场增长率是多少?

 

According to China Automobile Dealers Association, China’s used car market has grown at an annual rate of 15-to-20 percent, since 2015. Over 12.4 million used cars were traded in 2017, up by 19.3 percent year-on-year. It is predicted that Chinese used car sales will catch up with new car sales by 2020. For Uxin, achieving sales and other Key Performance Indicators (KPIs) are importance, of course, but we believe that they are an outcome of our leadership in educating and serving customers and expanding the market.

据中国汽车流通协会(CADA)发布的数据显示,中国二手车市场从2015年开始呈现出快速增长趋势,每年同比涨幅在15-20%2017年,中国二手车交易市场累计交易二手车超过1240万辆,涨幅近19.3%。预计到2020年,二手车会赶超新车。对优信来说,实现销售目标和其他关键绩效指标(KPI)固然重要,我们更注重培育服务客户,以及在开拓市场方面取得先机,这才是我们赢得业绩的基础所在。

 

How do you expect Uxin’s business to change over the next five years? What major opportunities do you see?

未来五年,优信的业务会如何变化?有哪些重大机遇?

 

With the growth of per capita disposable income, China’s third- and fourth-tier cities, as well as rural areas, are becoming increasingly important used cars market. We plan to build more than 3,000 service centers by 2020, covering all county level cities and county towns with populations over 100,000. We are in process of improving our logistics system. In 2017, Uxin launched 10% upfront financing product for its used car business, making it more affordable for young people to own their cars.

随着人均可支配收入稳步提升,中国广大的三四线城市及农村地区逐渐成为二手车的重要市场。目前,我们正在做千店计划,到2020年之前,完成全国所有10万人口的县级市和县城的服务门店开业,预计超过3,000家门店。同时,我们也在不断改善物流体系。2017年,优信推出了二手车一成购产品,让更多年轻人能够轻松购买到好车。

 

What most differentiates Uxin from its competition? And what are key lessons that other brands can learn from Uxin’s success?

优信与竞争对手最大的不同是什么?其他品牌可以从优信的成功中学到哪些重要经验?

 

Uxin provides one-stop service to meet the needs of all parties during a trade. This laid the foundation for us to become China’s largest online used car trading platform. Uxin owes its success to the trust of consumers and car dealers. So far, we have served over 100,000 dealers and built strong loyalty with them. In order to offer the best user experience, we guarantee honest car reports, pricing, and sourcing, and fully protects consumers’ rights and interests. In addition, we focus on building the brand in innovative ways with customer-centric initiatives.

优信具备了从产品到服务乃至供应链的一站式服务能力,这是奠定优信成为中国最大的二手车在线交易服务平台的基础。优信能够取得今天的成绩,主要得益于消费者和汽车经销商的信赖。目前为止,优信已服务超过10万家经销商,对经销商形成了强大的粘性。为给消费者带来卓越的用户体验,优信确保真实车况、真实车价、真实车源,全面保障消费者的权益。同时,我们大力实施以客户为中心的计划,以创新方式塑造品牌。

 

Does the name Uxin have special significance?

优信这个品牌名称是否具有特殊含义?

 

In Chinese, Uxin means high-quality and integrity. Uxin is devoted in building an open, fair, just, and transparent used car trading platform with the focus, dedication, integrity, and innovative spirit.

Uxin取中文优质诚信之意。优信一直用专注、纯粹、诚信、价值的工匠思维和创新精神,打造公开、公平、公正、透明的二手车交易平台。

 

CONSUMERS AND THE CHINESE DREAM

消费者和中国梦

 

Who are Uxin’s typical customers, both business-to-consumer and business-to-business?

B2BB2C领域,优信服务的主要客户是谁?

When it began, in 2011, Uxin focused on the trading between car dealers. In 2015, Uxin announced its entry into retail sector. In 2018, consumers can search, and purchase used cars anywhere at any time by browsing Uxin’s used car website and mobile app.

2011年成立之初,优信主攻汽车经销商之间的交易;2015年,优信正式进入零售端;2018年,消费者可通过优信二手车网站及手机客户端浏览,随时随地选购心仪的二手车。

 

Based on your knowledge of Uxin customers, what insights can you share about how Chinese consumers are changing? What are their key concerns when buying a used car?

根据您对优信客户的了解,您如何看待中国消费者的变化?他们在购买二手车时首要考虑的问题有哪些?

 

According to our transaction data, used car consumers are getting younger and younger. The post-90s generation is on the rise. Having grown up with internet, they are willing to purchase cars online and are open to pay by installment. These consumers seek a more cost-efficient solution for used car purchasing with fixed budget. Top-tier car brands and best-seller car models are also popular in the used car market. Based on the many studies we’ve conducted to understand the key concerns of Chinese car buyers, we have prioritized the need to be genuine and transparent, core principles of the brand.

根据我们的交易数据,二手车消费群体日益年轻化,和互联网一同成长的90后、95后购车比例增长迅速,愿意通过互联网购车,对分期购车普遍接受度也较高。在预算不变的情况下,这些消费者更看重二手车的性价比。一线汽车品牌或者爆款车型,同样在二手车市场受到消费者青睐。我们开展了很多调研,了解中国购车群体的首要关注问题,基于调研结果,我们定真实透明为品牌的立足之本。

 

In many categories, growth in China is about penetration, especially into lower tier cities. Is that the case with the used car category? And how does Uxin increase penetration in lower tier markets?

在中国,许多行业类别的增长都依赖于渗透率的提升,尤其是在低线城市。二手车类别也是这样吗?优信如何提升低线市场的渗透率?

 

Car registration in China’s third and fourth-tier cities as well as rural areas is lower than that in first- and second-tier cities. However, with steady growth of per capita disposable income, the car ownership potential in lower tier areas is increase immensely. By offering a multitude of full services, including car inspection, financial services, logistics and warehousing, transfer procedure, and after-sales maintenance, Uxin helps the consumers overcome geographical restrictions, and enjoy the one-stop car trading experience, only a click away.

相比一二线大城市,中国广大的三四线城市及农村地区汽车保有量较低。随着人均可支配收入稳步提升,上述地区汽车消费潜力逐渐爆发。优信通过在汽车检测、金融服务、物流仓储、手续交割及售后维保二手车流通全链条的布局,打造了线上线下一体化一站式的购车服务体验,即便远在三四线城市和农村地区,只需点击鼠标,即可轻松购车。

 

The Chinese Dream is partly about helping people live better lives. How does Uxin help fulfill this dream?

中国梦的重要内涵之一就是让人们过上更好的生活。优信如何助力实现这一梦想?

 

Cars expand the range of people’s life and work, and shorten the distance to high-quality opportunities in education, medical services, employment, and tourism, for example. Our vision is to help 300 million Chinese families own their dream car easily, which is highly consistent with the core of Chinese Dream. As car purchasing matures in China, people are more open to used cars and the cost benefits they offer. The Uxin platform offers a full range of prices points to satisfy most purchase desires.

汽车作为人们生活的重要出行工具,大大增加了人们的生活和工作半径,缩短与优质资源的距离,例如:教育、医疗、工作、旅游等等。优信的愿景是让3 亿中国无车家庭轻松拥有好车,这与中国梦精神内核高度一致。随着消费观念的日益成熟,中国消费者对二手车的接受程度越来越高。优信平台涵盖高中低端车型,充分满足不同层次的消费需求。

 

BRAND BUILDING

品牌建设

 

Brands across categories are also working hard to integrate their products, data, and logistics online and offline, something that Uxin apparently does well. What advice do you have for brands attempting to achieve seamless integration?

各行各业的品牌都在努力整合线上线下的产品、数据和物流,优信在这方面显然表现不俗。对于想要实现无缝整合的品牌,您有哪些建议?

 

With the arrival of the New Retail era, online and offline integration is becoming a must, and the application of big data is one of the key steps. By integrating transactional and consumer behavioral data, along with product and services, we enhance the collaboration and allocation of online and offline information and resources. These steps improve industry efficiency and benefit consumers by making it easier to buy a car—in one day.

随着新零售时代的到来,线上线下融合已是大势所趋,且大数据的应用成为其中的关键一环。通过整合交易数据、消费者行为数据以及产品和服务,我们强化了线上线下信息和资源的协同调配。这些措施有效提升行业效率,使购车更加快捷轻松——一天即可完成。

 

How does Uxin use big data and artificial intelligence to serve its customers better and gain a competitive advantage?

优信如何运用大数据和人工智能来更好地服务客户

并取得竞争优势?

 

Uxin Used Car is the first to introduce big data and artificial intelligence technology into the industry. Based on the massive authentic transaction data on the platform, Uxin develops an artificial intelligence pricing system. During the transaction, consumers online data will be synchronized to retail stores, and sales staff can use the data for accurate recommendation. By leveraging big data and artificial intelligence, Uxinauctions can be done within seconds. With simple and convenient trading procedures, Uxin reduces consumer’s cost of decision-making and makes it more efficient.

优信二手车在行业内率先引进大数据及人工智能技术。基于平台海量真实车辆交易数据,优信研发出人工智能定价系统。在二手车重要的销售环节,用户在线上看的车型、价位等基础数据信息可同步到线下,销售即可针对该用户进行精准的推荐。优信利用大数据和人工智能,在线上把非标准化的二手车做到标准化,非常快的方式完成整个交易,大大降低了用户的决策成本,使成交变得更高效。

 

What is the key message that Uxin attempts to communicate to consumers? And what are the key brand building and promotion elements of Uxin campaigns?

优信要传达给消费者的关键信息是什么?优信品牌传播中最重要的品牌建设和品牌推广元素是什么?

 

By building a trustworthy brand image we achieve our promise of connecting consumers with their dream car. To achieve this promise, Uxin implements omni-channel marketing campaigns, including variety show sponsorship and film product placement, to integrate our used car trading platform into the consumers’ new lifestyle.

我们努力塑造值得信赖的品牌形象,从而兑现我们的承诺——让拥有好车变得更简单。为此,优信开展了全渠道营销活动,包括综艺节目赞助和电影产品植入广告,以使我们的二手车交易平台融入消费者的新生活方式。

What media mix do you use to communicate the Uxin brand? And how has that changed over time?

你们用怎样的媒体组合来传播优信品牌?这个媒体组合长久以来又经历了怎样的变化?

 

In this low-frequency marketplace, engagement strategy is necessary, and we take advantage of an inherent human desire for staying up-to-date. We understand our customer's journey and adapt our media mix accordingly. We are present at multiple digital touch points to inspire consumers and ignite their interest and desire. For example, in 2017 we adopted brand content for the well-known, anti-graft TV drama In the Name of People.

在这个低频率市场上,互动战略是必不可少的,同时我们也充分利用了人类与生俱来的渴望了解时事、紧跟潮流的渴求,基于消费者路径,相应调整我们的媒体组合。我们出现在多个数字接触点上,吸引消费者、激发他们的兴趣和意愿。2017年,我们针对知名反腐电视剧《人民的名义》,以多种创意广告形式进行植入,打破了传统广告植入浅层的纯露出沟通形式。

Our brand communication also pays attention to creative integration of content and media, such as with the film product placement in Transformers 5: The Last Knight.

我们的品牌传播也非常注重内容与媒体的创造性整合,例如《变形金刚5