Alex LI is CEO of Wajiu. In 2014, Wajiu came online. In 2017, the sales outlets covered 31 provinces and cities nationwide. In four years, combined with the network mode, Wajiu has overset the traditional wine trade. The registered online distributors cover the entire mainland China and Wajiu has become the first wine importer whose import volume to exceed 10 million liters; in 2018, Alex LI believes that the real golden age of wine has come. Here is the interview of Alex LI by Fine Wine and Liquor magazine, China.
The Real Golden Age
Fine Wine and Liquor: When Wajiu came on line, the wine industry had experience and passed the fastest-growing stage. Why did you choose to enter the market at that time?
Alex LI: Because I see the true rapid development the entire wine industry is faced with. The so-called "fastest-growing" golden decade is actually a decade of gold plating without addressing the issue of wine price trust and channels to approach consumers. The real golden age can only be achieved after solving the above two core problems. Recalling the past few years since the founding of Wajiu, the import speed of the entire wine industry has not slowed down, and the scale of imports did not shrink; all signs indicate that the wine is still in rapid development.
Views on the Markets of China and the United States
Fine Wine and Liquor: It is said that between 2020 and 2025, China will become the world's second largest consumer of wine market. Do you agree with this statement?
Alex LI: I agree with this statement.
First, China has a larger population base. By 2025, the number of urban residents of a city with stronger spending power in China may exceed the population of the entire United States.
Second, the Chinese people can spare no effort in buying a house. When they reach a certain level of spending power, they will spend their money on eating and drinking.
Third, China itself is a country that has widely imported goods.
Fourth, China's Internet commerce and data period will profoundly and rapidly affect the new generation of young people in China. It is their time from 2020 to 2050.
Highlight the Advantages of the Internet
Fine Wine and Liquor: What kind of technical team is behind the excellent and professional Wajiu website and APP?
Alex LI: This is a professional and technical team built and trained by Wajiu. Wang Chao, one of my partners, came from Alibaba, one of the leading Internet B2B companies. Seven or eight product managers, operations managers and technology development managers are basically from Alibaba. Now the professional technical team has nearly 50 people.
The website and APP development, from visual design, to the logic research and development and data security, have been originally researched and developed by Wajiu team. Wajiu is the first B2B company to do this vertical segmentation of wine in the world.
Fine Wine and Liquor: What kind of problem can Wajiu solve which the traditional market is not good at solving it?
Alex LI: Relying on the advantages of the Internet, Wajiu can solve many market problems which traditional market can not solve. Taking fleeing goods for example, Wajiu can solve the problem using the rules rather than simple trust, which is the underwriting policy. For example, registered dealers in Shenzhen submit business licenses upon registration, and their business scope is in Shenzhen. Once a dealer has completed a wine underwriting, the other dealers in Shenzhen can not see this wine. And Wajiu has enough wine for other dealers registered in Shenzhen to choose, and they can still choose the wine which they are satisfied with to underwrite.
And this is just one of many problems that Wajiu can solve which can not be solved by the traditional markets.
Fine Wine and Liquor: How do you think of the next stage of the challenge to Wajiu network?
Alex LI: Development is the best way to address common issues that may arise as the team expands. In the constantly rapid development process, these problems will be digested and solved internally, and these problems will not be the most immediate big problem. Therefore, Wajiu gives young people the opportunity and trusts the growth of young people; we rely on the young people, and the young people also rely on the team; the most challenging thing for Wajiu is to confirm that there is no problem in this direction.
It is the existing significance and mission of Wajiu to affect the pattern of China's wine industry, promote the development of China's wine industry and promote the Chinese wine industry to meet international standards!