China News Network, Hangzhou, April 22 (Zhao Xiaoyan) The fifth round of electronic consumer coupons in Hangzhou was officially issued at 8 pm on the 20th, and all of them were snatched up in 105 seconds. The 370 million yuan consumer coupons issued in the past four rounds have actually driven more than 3 billion yuan of consumption, with remarkable results. Some commentators said that it "awakened the fireworks in the city." Outside Hangzhou, Zhengzhou, Nanjing, Guangxi, Wuhan and other places are also issuing consumer coupons on Alipay. According to Alipay, there are currently more than 5 cities that issue consumer coupons with a leverage effect of more than 10 times, and Alipay consumer coupons have spurred consumption of more than 10 billion yuan. Over 10 million offline merchants across the country benefited from consumer coupons, 9 of which became small, medium and micro merchants.

The picture shows the fifth round of electronic consumer coupon page in Hangzhou. Photo by Zhao Xiaoyan

　　In 2009, in response to the impact of the financial crisis, Hangzhou also took the lead in launching consumer coupons nationwide. According to Zhu Zheng, deputy director of the Hangzhou Municipal Bureau of Commerce, compared with 11 years ago, this time the issuance of electronic consumer coupons has the characteristics of "precise, fast and live"-the crowd is more accurate; the plan is determined to the actual line only It took 24 hours to call it extremely fast; it is more flexible to issue different types and face value in batches.

　　"There are cities, there are cities." Zhu Zheng said that the implementation plan of this round of Hangzhou consumer vouchers was reviewed during the internal discussion stage, and it has made a comprehensive consideration on whether it can be used online and whether the use of scenes is restricted. "In the end, we believe that, under the premise of not relaxing the epidemic prevention, we must encourage everyone to go out of the house. With the exchange of goods and people, and the exchange of people, the market can recover."

Digital governance achieves precise reach

　　The impact of the new crown epidemic on the economy is too large. As one of the troikas of economic growth, consumption boost has become an important factor in revitalizing the economy.

　　Zhu Zheng said that in fact, from the first day of resumption of work in February, the Hangzhou Municipal Bureau of Commerce has begun to consider issuing consumer coupons to stimulate consumption. "But we have not considered issuing cash or paper vouchers since the first day of brewing."

　　In 2009, Hangzhou City issued consumer coupons totaling 910 million yuan in two stages and three batches, making it the largest city in China to issue consumer coupons. According to the survey of the Zhejiang Provincial Party Committee Political Research Office on the issuance of consumer vouchers in Hangzhou, the effect of that year's consumer voucher pull reached 1: 8. However, the reserve fund of 1 billion yuan in that year wasted 300 million yuan in write-off funds, and the write-off time was as long as one year.

　　"At that time, merchants must keep the vouchers and take the vouchers for reimbursement, and the feeling is not particularly good." Zhu Zheng said that after this round of vouchers came out, Hangzhou was already "the first city in the national digital economy" and the first in China. As a "digital governance" city, it was decided at the beginning to make electronic consumer coupons. Compared with paper consumption vouchers of the year, electronic consumption vouchers are more "fair and traceable". Each drawer has a real-name certification on Alipay, and the merchant can also be traced. With Alipay's risk control capabilities, it can ensure maximum consumption Coupons are not used for rebates.

　　"If you still stay in the era of issuing paper consumer coupons, you can't adjust the face value, total amount or even change the issuing time of single coupons at any time like today." Zhu Zheng introduced that after the first round of coupons issued in Hangzhou, The staff of the working group went into the market to understand the situation and make adjustments according to the actual situation.

　　Zhu Zheng believes that the form of issuing digital consumer vouchers in Hangzhou is closer to the target group. The reason why they will be on time and “grab” the consumer vouchers is because they have a clear willingness to consume, which proves the accuracy of the delivery and ensures a high level of later Pulling effect. "This is the convenience brought to us by the era of digital governance. Through the analysis of big data, we can understand the demands in a timely manner. At the same time, through the output method of digital management, we can achieve maximum fairness and justice."

Breaking the limit: 33 hours online coupon

　　From the resumption of work in February to the incubation, to the final release of the plan, Zhu Zheng, who participated in the discussion of the design of the consumer voucher, introduced this process in eight drafts and made many subtractions.

　　The initial plan of Hangzhou consumer coupons is: a 200 yuan card package, including 18 coupons, coupons for different industries, mainly covering shopping and dining. Later, it was reduced to 13 and then to 10, and the final five coupons of 10 yuan were finalized. "To make adjustment considerations, it is necessary to drive consumption, and it must not be too utilitarian in business, so that people feel uncomfortable in use, and make people willing to use and convenient to use."

　　In terms of the selection of issuing partners, "considering that Alipay is the earliest product with financial attributes in China and the only Alibaba Cloud with its own computing in the world to provide technical support. We chose to cooperate with Ali."

　　The design of the Hangzhou consumer coupon issuance plan took about 20 days, and the penultimate finalization plan was officially launched on April 3. However, on March 25, Alipay received a notice requesting that the coupon be officially launched on March 27.

　　"After the project was established, the government working group and the Alipay project team began to work overtime overnight." Zhao Kun, a member of the Alipay working group responsible for the Hangzhou consumer coupon project, said that it is a "almost An impossible task ". For this, Alipay promises to mobilize all resources.

　　On the evening of the 26th, the Hangzhou consumer voucher product went online internally. At 3 a.m. on the 27th, the product completed the test.

　　"From the beginning to the completion, we spent 33 hours, and we have exceeded our limits." Zhao Kun said that the entire team assembled from various BUs in the Ali economy, which can be said to have completed a miracle.

Only a city can have a city: 12.5 times leverage leveraging consumption vitality

　　"A city is a city." Zhu Zheng said, "We are issuing consumer vouchers this time to encourage citizens to go out to spend and restore the city to prosperity."

　　At the beginning of the design plan, Hangzhou had also considered the leverage ratio, that is, how much consumption can actually be driven by consumption coupons. Zhu Zheng said that in fact, Hangzhou did not use it as a hard indicator in the final plan. "But the market still gave us a surprise."

　　Starting from March 27th, as of 16:00 on April 2nd, Hangzhou's first phase of consumer vouchers was redeemed by government subsidies of 94.1 million yuan, driving consumption of 1.246 billion yuan in 7 days, with a leverage ratio exceeding 13 times.

　　The feeling of offline merchants may be more intuitive. The word of mouth is hungry. The data shows that since the release of consumer vouchers, the new opening of offline catering stores in Hangzhou has increased by more than 10% (the rate of resumption of work exceeds 90%), and the catering consumption orders have also increased by more than 140%. Manager Wu of the Century Lianhua Qingchun Store said that after the first round of consumer vouchers were issued, Century Lianhua in Hangzhou ushered in a peak of consumption, with sales exceeding 60 million within 3 days. "Under the incentive of the coupon, it is obvious that the passenger flow can be warmed up." Due to the continuous import epidemic, the taxi industry has been affected. Since the issuance of Hangzhou consumer vouchers, business has recovered, and the overall number of orders received has increased by 29%, significantly driving the rapid recovery of the taxi industry.

　　Subsequently, Hangzhou City issued more batches of consumer coupons, and tried different face value combinations to test the market.

　　Statistics of the Hangzhou Municipal Bureau of Commerce show that as of 24:00 on April 16, the government subsidies of 321 million yuan were paid, and the first four rounds of consumer vouchers led Hangzhou to consume 3.422 billion yuan.

　　Compared with the leverage ratio of 1: 8 in 2009, why did this round of electronic consumer coupons achieve such a high degree of leverage?

　　Zhu Zheng believes that in the past few months during the Spring Festival and the Lantern Festival, the citizens did not dare to come out for consumption because of the epidemic situation. The consumption voucher is a safe signal to encourage everyone to come out.

　　Weng Yi, a senior researcher at the Digital Economy Think Tank, believes that the Hangzhou model of consumer vouchers has proved successful. Consumer vouchers have also spread from developed provinces in eastern and southern China to Xinjiang, Inner Mongolia and other places. Even the government of a small county knows that issuing consumer vouchers through digital means has become an important manifestation of the digital divide in the regional divide. (Finish)