In the current era when traffic is king and Internet celebrities are dominant, the live streaming industry is ushering in unprecedented prosperity. However, in this highly competitive field, the departure of a key person can often have a profound impact on the entire team or brand. Dongfang Selection, as a leader in the field of live streaming, fell into the whirlpool of public opinion because of the departure of the core figure Dong Yuhui in January.
The style of Dongfang Selection's live broadcast has changed greatly
According to data, from January to April 2024, the sales of Dongfang Selection's live broadcast room will be 639 million yuan, 269 million yuan, 329 million yuan and 242 million yuan. In the same period, the sales of Hui peers were 932 million yuan, 411 million yuan, 620 million yuan and 538 million yuan.
To the surprise of many people, Dong Yuhui's departure made Dongfang Selection's live broadcast room lose its original charm.
From the perspective of live broadcast style, in Dong Yuhui's live broadcast, he can always combine goods and knowledge, and use vivid language to tell consumers the story and culture behind it. This unique way of live streaming not only attracts a large number of consumers to watch, but also increases the sales of goods. However, after Dong Yuhui left, Dongfang Selection's live broadcast room became monotonous and boring, lacking innovation and highlights. It is difficult for consumers to feel the unique charm and value of it.
According to the online video, in a live broadcast of "Oriental Selection Beautiful Life", the style of the Oriental Selection anchor explaining the product has become "shouting hard": "321, on the link!" ”。 This is already in line with the style of most anchors, and it does not show the "knowledge-based delivery" characteristics of Dongfang Selection.
Judging from the data, Dongfang Selection's performance after Dong Yuhui's departure was not ideal. According to the data of the third-party live broadcast e-commerce analysis platform, the Douyin account of Dongfang Selection has lost nearly 500,000 fans in the past three months, falling out of the top ten in the monthly list of goods talents. Of course, among these fans, there were originally Dong Yuhui's iron fans, and it was normal for the "mother-in-law" to follow Dong Yuhui to walk with Hui. But these data further prove that consumers are dissatisfied and disappointed with the change in style in the live broadcast room.
In addition, without the knowledge empowerment of Dong Yuhui, the high gross margin products of Dongfang Selection Products cannot attract more consumers. To put it in layman's terms, with Dong Yuhui's explanation, the product can be sold at a higher price, otherwise Dongfang Selection can only rely on cost performance to attract consumers, but this is not a good thing for Dongfang Selection. And this just proves that Dongfang Selection is becoming mediocre due to the slow disappearance of its core competitiveness.
Yu Minhong complained that the market value of the stock fell by more than 3 billion
Or out of dissatisfaction with Dongfang Selection, on June 3, Yu Minhong and Wumart founder Zhang Wenzhong said in a conversation in the live broadcast room, "Dongfang Selection is doing a mess now, and I don't have any ability to make suggestions to you."
Not only that, in the live conversation, Yu Minhong also talked about the negative impact of the Internet on himself. "In the past year, I've been abusive, accused and insulted more online than I've ever done in 100 lifetimes combined," he said. In the future, I plan to stay away from the business and leave more time for myself to go sightseeing, not wanting to struggle for my life or getting entangled in disputes. ”
One stone stirred up a thousand waves, and the topic of "Yu Minhong said that Dongfang Selection was a mess" rushed to the hot search, which frightened the investors of Dongfang Selection. On June 3, the share price of Oriental Selection fell by 9.92%, fell by 4.24% on the 4th, fell by 2.78% on the 5th, and fell 2.735 on June 6, and the market value evaporated by more than HK $3 billion in the past 4 trading days.
In desperation, at 1 a.m. on June 7, Yu Minhong issued an open letter again, apologizing to Dongfang Selection's customers, shareholders and investors. Yu Minhong said that the recently hotly discussed "Oriental Selection is a mess" is just a modest expression with friends, and his imprecise expression will cause so many good intentions or malicious interpretations. "Oriental selection was made a mess by me", this is an expression of habit, and I have said similar things on more than one occasion.
Regarding the statement that he hoped to retire in the previous live broadcast, Yu Minhong explained that his expression was not rigorous enough, although his greatest wish is to transcend disputes and travel the world, but this does not mean that he is no longer responsible for the operation of New Oriental and Oriental Selection.
Affected by this, the stock price of Oriental Selection rose 2.41% on the day.
Although Yu Minhong apologized, it did not prevent Dongfang Selection from slowly becoming mediocre.
No innovation, no live streaming
In the past, Dongfang Selection became a clear stream in the field of live broadcast with "knowledge sharing", and it became the favorite of countless Chinese people without noisy shouting and selling without the routine of holding back orders and forcing orders.
Nowadays, Dongfang Selection has spent a lot of money to create a platform for "high-quality agricultural products", but the clinker is gradually drifting away in the live broadcast content.
Compared with the conservative selection of Dongfang, Dong Yuhui led his peers with Hui to continue to innovate: cultural tourism to explore the great rivers and mountains and celebrity interview business.
This also makes us wonder: what is the core competitiveness of a brand or team? Is it the influence of one person or the spirit of the whole team?
"No innovation, no live broadcast" is the iron law of the live streaming industry. After losing Dong Yuhui, Dongfang Selection needs to be more active in seeking innovation and breakthroughs to meet the challenges and competition in the market. Only by continuous innovation and progress can we remain invincible in the highly competitive live streaming market. Otherwise, it's only going to get worse and worse.