“Burning money” for Sao, does Tiki have a chance of escaping a loss?

To catch customers, Tiki keeps on rolling “way”. However, before the fierce competition of e-commerce market, will Tiki escape the loss?

Tiki is the second most popular e-commerce business in Vietnam after winning this position from Lazada (backed by Alibaba) in the fourth quarter of last year and continues to closely follow rival Shopee in the Vietnamese market.

Do not stop “playing big”

In Vietnam’s e-commerce market, Tiki made a mark when opening the battle of delivery speed, with ‘Tiki Now’. With the expansion of the warehouse capacity platform, the speed seems to be still “ace” to entice shoppers on this page.

  Tiki made a mark when starting the battle of delivery speed, with 'Tiki Now'.

Tiki made a mark when starting the battle of delivery speed, with ‘Tiki Now’.

“Part of our long-term strategy is faster and more”, Mr. Tran Ngoc Thai Son, Founder and Chairman Tiki confirmed. Currently, Tiki has more than 100,000 products delivered in 2 hours and is expanding the service to 3 hours, day to day delivery to increase the number of products from several hundred thousand to millions of products.

Tiki 2 hours in turn led to such services ‘Shopee takes delivery of 4 hours’, ‘Sendo delivery 3 hours’ or even Lotte.vn launched ‘Fast delivery and blinking’ for 1 hour, 3 hours and 24 hours.

Not only “trigger” Fast delivery race, Tiki left “play big” With a careful investment in the music products of top Vpop stars.

May be mentioned as “Suspended” (B-Ray and Masew), “Silver fate” (K-ICM ft. Jack), “Don’t love me anymore, I’m tired” (Min), “Brother eh, stay” (Chi Pu) and “Can you love?” (Duc Phuc) … The common point of these MVs is that the delivery staff plays the Tiki logo, the end of the song is brand information.

Tiki’s Product Placement in Min’s music video “Don’t love me anymore, I’m tired” of Min

Answering about why not pouring money to do promotion in e-commerce field like other competitors, but investing in music, Mr. Tran Ngoc Thai Son said the company is still promoting but “It is not enough because there is a lack of an important element that is spirit, but music is the way to take care of the spirit.

Mr. Son further explained that promotions are a way to attract those who already know the brand to appear in music as a way to get to know new customers.

Can see, the investment “Cool hands” In hundreds of music products, it is not only a gift but also an advertising strategy to develop new customers in the context of fierce competition of online sales.

Burning money is also not “sure to win”?

It did not disclose the amount of money it would spend on music products, saying it would be flexible, depending on the amount of capital the artists needed.

However, according to the director of a production company in the entertainment industry, a MV invested in size “Brother eh, stay” Chi Pu’s most economical products also cost VND 400-500 million. Another independent manufacturer, said that could cost up to one billion for this product.

Typically, brands have many ways to accompany music videos of artists, or sponsor the entire production cost, or contribute VND 100-200 million to appear the logo.

With the decision to invest in hundreds of entertainment projects, the number of Tiki’s spending is not small.

In fact, in music videos invested by Tiki, artists like Chi Pu, Duc Phuc and Min possess a young audience, most of which range from high school to college, which is the age at which they start mastering. finance and interest in spending, shopping. This is a potential new customer to grow in the context of e-commerce firms in recent years accepting continuous losses to pull customers.

Nha Trang
* Source: Business Forum


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