The new retail brand of community business, Xiaoyinghe, has completed its seed round of financing of two million yuan, which was invested by the president of Dianguang Explosion-proof Technology, a listed company in China.
The funds will be used for product research and development, talent cultivation, and the launches of new projects.
Established in 2018, Xiaoyinghe is a self-owned brand under Hangzhou Yinghe Technology Co., Ltd., which provides services to the users within one kilometers of the community’s business area.
By linking online data with offline service, Xiaoyinghe boasts its prompt services and a good offline environment. It has constructed a complete link chain including service, cash flow, and information flow, and provides 500 SKUs to its customers based on the customer analysis done by big data.
On June 15, 2019, the first test store of Xiaoyinghe opened in the Yuhang District of Hangzhou City. The store screens movies simultaneously as in the theatres, aiming to provide users with one-stop leisure and entertainment services that include movie screening, book lending, products selecting, and reading promotion.
In only half a year, Xiaoyinghe succeeds in the store operating models and the consuming potential development. During the half-year trial operation in 2019, Xiaoyinghe’s average monthly revenue from box office has reached RMB 140,000, with 31,000 people watching the movies in the store. The non-box office revenue accounted for 10% of the total.