The channel of "consumption circle" has gained a fixed traffic access, and Alipay has rebuilt its "reputation"?

Tech 2023-10-14 18:36:32 Source: Network

Interface News Reporter | She XiaochenInterface News Editing|Alipay seems to want to rebuild its own "reputation".Recently, the interface news found that Alipay's "consumption circle" channel was gradually opened as a fixed traffic portal

Interface News Reporter | She Xiaochen
Interface News Editing|

Alipay seems to want to rebuild its own "reputation".

Recently, the interface news found that Alipay's "consumption circle" channel was gradually opened as a fixed traffic portal. It is understood that the consumption circle is a channel upgraded by Alipay in June this year through the combination of consumption coupons, discount groups and spring elections, but it has not caused much trouble. At present, on the home page of Alipay, "consumption circle", "watching videos" and "managing wealth" have become three central traffic portals, which are at the core of the first screen.

From the content covered by the consumption circle channel, Alipay once again extended its reach to group buying, instant retail, e-commerce and other businesses, improving the weight of "consumption circle", which also means that Alipay hopes to strengthen users' purchase awareness. When the competition in local life becomes more and more fierce, can Alipay's slow half beat attack become a winning move?

Unable to part with local life

Alipay does local life, and its early stories cannot bypass "public praise".

In June 2015, Alibaba and Ant Group, which were still Ant Financial Services at the time, jointly established a local life service platform reputation company, with each party investing 3 billion yuan.

But in the later stage, the reputation was somewhat "wandering". In 2018, Alibaba acquired Hungry for $9.5 billion; In October of the same year, Hungry Mo merged with word-of-mouth. In this process, Alipay's entrance has always provided a lot of traffic for Ali's local life. However, the development of word-of-mouth was not as expected, and Alipay wanted to open its homepage traffic. Finally, in October 2021, Alipay changed the bottom column and removed the entrance of "word-of-mouth".

In fact, with the independence and transformation of Ant Group, it is not surprising that Alipay wants to rebuild a local life base internally. As early as August 2018, Alipay launched the function of "spell group", giving a weight similar to the home card. In March 2020, Alipay announced that it would upgrade from a financial payment platform to an open platform for digital life, and business digitalization could not be separated from the construction of a local life service ecosystem.

As of this year, after the peak of mobile internet traffic and the recovery of offline consumption, the local living market has once again become a gold mine for many platforms. According to data from iResearch Consulting, the scale of the local life service industry is expected to exceed 2.5 trillion yuan in 2025. Meituan started live broadcast, Tiktok increased human and financial investment, and Kwai, Xiaohongshu and other entrants also caught up.

From the slogan of Alipay's "consumption circle", "local good price, preferred life", Alipay wants to promote not only catering, wine and travel services, but also local life.

The consumer circle interface includes numerous categories, including "consumption vouchers", "discount groups", "preferential outbound", and other categories. In addition to local catering group buying, there are also instant retail services such as "supermarket direct delivery", as well as regular e-commerce and live streaming, but there is no takeout service.

A service provider told the interface news that in May this year, they began to attract investment from the consumption circle channel. Merchants must go through the service provider to settle down. Alipay's cut for merchants is 1.1%, lower than the current general rate of other platforms.

According to a data obtained from a service provider, the positioning of the consumer circle is a product guide aggregation channel with local lifestyle services as its main feature. It was launched in June this year, and 618 is a planned promotion node. The data also shows that merchants who settle in need to meet a series of conditions, one of which is to have a merchant mini program and the online operation time should not be less than one month.

At present, applet is a core carrier for Alipay to do business services. At the press conference, Alipay also emphasized the opening policies related to applet for many times. However, as observed by the interface news, the mini programs of the consumer circle channel include both official brand owners, as well as third-party collection e-commerce platforms (such as "Huixuan Haowu") and group buying platforms (such as "Xiangku Lifestyle"). In terms of mode, the consumer circle is more like an aggregation platform.

What is the end of transformation?

Alipay's decision to continue to focus on the consumption scenario of local life services through payment is in line with product logic. But now entering the market, there are still challenges in terms of timing and traffic.

On the one hand, the development of local life requires a lot of offline promotion and accumulation, and the challenge of establishing a new channel is no less than developing a new app; On the other hand, Meituan and Tiktok both started the content competition when the local life was fierce. Live broadcast and short video have become the standard configuration of group purchase sales. At this time node, Alipay has many lessons to make up.

In any case, it is necessary for Alipay to try new business.

After the announcement of transformation in 2020, Alipay has frequently revised its version, and this year, it has vigorously promoted live streaming with goods. In March this year, Alipay Business Group adjusted its organizational structure and newly established the Digital Products Business Department and Alipay App Business Department. The former is responsible for building the product system of Alipay's digital business.

A Alipay person told the interface news that the decision to get rid of the financial label within Alipay is still controversial.

However, from the perspective of future development, Alipay is bound to broaden its business boundaries and find commercial opportunities beyond payment, which is also the driving force behind the above changes in organizational structure and products. When submitting the listing documents in 2020, Ant disclosed information that its main business at that time was mainly composed of digital payments and merchant services, digital financial technology platforms, and innovative businesses, with the first two accounting for over 99% of revenue.

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