<h4>Chapter 725: Miraculous Sales Figures</h4>
<strong>Trantor: </strong>_Min_ <strong>Editor: </strong>Caron_
The rtionship between major emercepanies and VRstore was akin to the rtionship between retail chains and shopping malls. From payment to logistics, traditional emerce stores were responsible for providing the goods, while VRstore provided the “window.” The rtionship between the two parties more closely resembled a symbiotic rtionship.
In fact, Jiang Chen previously considered starting from scratch – he thought about getting rid of those veteran emerce giants, taking a series of chains from payment to logistics and creating a tform belonging to Future Technology. However, after discussion with Xia Shiyu, he gave up on this n.
It was like Future Technology was building a rocket, but there was no need to carefully polish each screw.
Inside Future Building on Coro Ind, wearing a perfectly-tailored business outfit, Xia Shiyu stood at Jiang Chen’s desk and reported the stats of VRstore. From the excitement flowing out of her solemn face, Jiang Chen could already sense the gratifying aplishments of the “VR+ emerce” n that had been in the works for half a year.
“… ording to feedback from the North American branch, Amazon’s total revenue rose 18% in the first week, while the VRstore tform ounted for 40% of this week’s transaction volume. eBay’s transaction revenue also rose by 13%. The two emerce giants immediately submitted an additional cooperation agreement to us. They’re hoping we can rx the auditing process and speed up the process for additional shops to enter virtual reality.”
Jiang Chenfortably leaned back in his seat.
“What about Hua?”
Xia Shiyu’s lips formed a smile then she said:
“Taobao’s revenue rose by 28%pared withst week, Jingdong 34%.”
This 28% increase wasn’t to be underestimated. Although it was attributable to many factors such as natural growth and online marketing, the entire sales base was gigantic. Just looking at Taobao alone, Taobao’s annual transaction volume in 2015 was 3 trillion! And since 2010, it had maintained a 60% increase over the years.
Although the growth rate had slowed down, ording to Taobao’s 2017 data, the transaction volume still exceeded 4 trillion. Now, with the sudden emergence of VRstore, Taobao’s transaction value could break the 5 trillion milestone.
“It’s almost like a money printing machine,” Jiang Chen eximed.
“I think so too.” Xia Shiyu nodded in agreement. “Do you know how much money we made on VRstorest week?”
“How much?” Jiang Chen was intrigued.
“1.2 billion.”
Upon hearing this figure, he was stunned.
However, Xia Shiyu seemed to think that the number wasn’t shocking enough, so she added, “1.2 billion US Dor.”
After recovering from his shock, Jiang Chen smiled and touched his nose with embarrassment.
“…If you didn’t tell me, I would’ve thought it was Vietnamese Dong.”
1.2 billion a week was more money than a money printing machine! A money printer couldn’t print that fast!
Even more shocking was that this 1.2 billion was their ie after tax. Although the scanning fee for the one million items contributed to more than half of the sum, the figure of 1.2 billion still stunned Jiang Chen. Alibaba’s profit per year was around 7 billion and it ranked top among the global emerce giants. Future Group’s VRstore only took a week to earn the same amount Ali earned in a quarter.
Once VRstore matured, what would it be?
In order to celebrate this victory, Jiang Chen gave arge red envelope to each of the 300 employees of the VRstore project team and also hosted a party on the Hot Spring Ind.
From the beginning, VRstore had used programmers from the modern world and independently developed VR programs. For Future Group, it was undoubtedly a big step towards technological independence.
For now, in all of Future Group, only Future Technology managed to achieve this feat.
The first reaction of people with vested interests in emerging technology was repulsion. The second reaction was determining how to stop technology. The third reaction was thinking about how to respond to the trend and make changes. However, if they began to think about change three beats slower than the rhythm of the world, they would unfortunately be eliminated by the times.
Bentonville, Arkansas, home to Walmart, the world’srgest retailer.
This legendary retailpany had a near-mythical family history. When Fortune magazine released their list of the world’s top 500panies in 2007, Walmart topped the list with a revenue of 35.11 billion US Dor and received this honor for six consecutive years. When Fortune magazine began assessing the top 500panies in the world in 1955, Walmart was just a mom and pop shop in Bentonville.
At that moment, in the Walmart headquarters, the board of directors held an emergency meeting to discuss their strategy for dealing with the impact of VRstore on the retailndscape.
“Which idiot has the proposal from Future Technology? We could’ve taken the VRstore ride.”
“We had a vote from the board of directors, Mr. Casero.” CEO Macmin rose and responded to the director who mocked him.
“Oh? You mean, all of us here are idiots?”
“Don’t get me wrong – I absolutely didn’t mean that, Mr. Casero. Unless you personally think so.”
“You—”
Knock, knock, knock.
The sound of knocking on the table forcefully dispersed the noise around the conference room.
The chairman, sitting at the head of the conference table, Robson Walton, stopped knocking his hand and nced at the two men with cloudy but sharp eyes.
“We have more important things to do than arguing, don’t we?”
The aged Walton family owner had a high prestige among the board of directors. When they saw Old Walton speaking, all the directors looked at each other and quickly ended their meaningless arguments. McMin shrugged, opened his mouth, finally said nothing, and sat back.
Yes, Walmart had rejected Future Technology.
Walmart also ran its own emerce website, and it was the third-ranked in the UA. But six months ago, they didn’t ept the concept of “VR + emerce” proposed by Future Technology. As for why, Walmart’swork wasprehensive; it could connect itsrge physical retail stores and online businesses together to provide a full range of customer shopping services, so there was no need to rely on the VR tform.
No Americans were unfamiliar with the products on Walmart’s shelves.
Also, if Walmart supermarkets appeared on the virtual reality tform, this would definitely have a greater impact on Walmart’s physical store sales.
But the facts proved their decision to be horrendously wrong.
Whether they were willing to ept it or not, Walmart’s physical store sales would be impacted by VRstore. Their refusal to enter VRstore resulted in more market share in merce taken away by Amazon and eBay.
“We were at a disadvantage against Amazon. Now. VRstore has pushed us directly to our pitfall. It’s not only Amazon, but eBay is also trying to gain distance on us.” One director shook his head as he spoke.
“It isn’t toote to make up for it now. I’ll personally go visit Xin. I’ll make the secretary book a ticket for tomorrow,” Macmin said.
“It isn’t toote? Even if we change our minds now and beg Future Technology to let us join VRstore, do you think we could immediately enter the VR tform?” Casero, who had previously argued with him, mocked him. “Scanning 800,000 products took more than half a year. If we enter now, there are still countless shops ahead of us in queue. Maybe this time next year, Walmart’s merchandise will appear on the shelves of VRstore?”
It would be impossible for them to set aside their partners and allow ater jump in.
“I’ll persuade him,” Macmin said earnestly.
“Ha—”
Casero was about to say a few mocking words, but Mr. Walton, the chairman, didn’t give him a chance to speak and forcibly interrupted him.
“You don’t need to book anything – take my ne. Don’t wait until tomorrow – go today.”
Holding his breath, Macmin nodded his head seriously.
“Yes!”