“Don’t speak English, don’t buy, ok, I can speak English all the time. But please remember to buy something, I am now introduce to this steak.”
Teaching you to learn English while selling goods live, the New Oriental live broadcast room became popular.
On June 10, "New Oriental Anchor" rushed to the hot search on Weibo.
Overnight, Mr. Dong went out of the circle with "Bilingual Live".
In the evening, a reporter from Shell Finance entered the live broadcast room of New Oriental's "Oriental Selection". The anchor was holding a marker in one hand and a whiteboard in the other.
While selling shrimp, I wrote down the English of crayfish.
At 10:50 p.m., the Dongfang Selection live broadcast room once rushed into the top three on the Douyin band.
Looking back at Yu Minhong's first live broadcast, he was once dubbed by netizens as "live broadcast is like a class", and now the "bilingual teaching and selling" model has unexpectedly become popular.
New Oriental has transformed into live broadcasts and brought goods for half a year, and the average single live broadcast sales at the beginning were less than 300,000 to nearly 15 million.
With the popularity of the live broadcast room, the stock price of New Oriental Online has also soared all the way. As of the close on June 10, it was reported at HK$6.23 per share, an increase of 39.37%, setting a single-day increase of the stock since its listing.
Regarding the unique style of the live broadcast room, the internal staff of New Oriental said that the anchor who was a teacher has his own humor and wit.
"New Oriental itself has online marketing capabilities, and the bilingual live broadcast will give the audience a sense of freshness." Xiong Bingqi, director of the 21st Century Education Research Institute, told Shell Finance and Economics that it is not surprising that New Oriental's live broadcast room came out of the circle.
But at the same time, Xiong Bingqi also took a wait-and-see attitude on whether the bilingual live broadcast mode can be popular for a long time.
He believes that from the perspective of consumers, more people may want to buy high-quality and inexpensive products through live broadcasts. "How to sit on the head for a long time is a question to be considered in the future."
01
Nearly 2 million followers in three days
New Oriental "Bilingual" live broadcast room became popular
A bilingual anchor who switches seamlessly, holding a whiteboard full of English words. At first glance, he thought it was an English class, but at a closer look, it was the live broadcast room of New Oriental's "Oriental Selection".
Different from the previous situation where the anchors who brought goods called "Family, Babies", in the live broadcast room of New Oriental, Dong Yuhui, a famous English teacher of New Oriental who has brought 500,000 students for 8 years, was selling a steak priced at 299 yuan. On one side, I introduced the taste of steak to everyone in English and Chinese: "If you don't speak English, don't buy it, ok, I can speak English all the time. But please remember to buy something, I am now introduce to this steak."
After the interesting clips in the live broadcast room were disseminated through short videos, more and more netizens poured into the live broadcast room of New Oriental's "Oriental Selection".
On the evening of June 11, the reporter collected statistics from the third-party live broadcast data statistics platform Cicada Mama. In the past 30 days, Oriental Selection has maintained a high frequency of live broadcasts, with a total of 34 broadcasts, an increase of 1.021 million fans, and a cumulative sales volume of 634,000. (Live broadcast accounted for 99.95%), and the cumulative sales in 30 days reached 45.588 million (Live broadcast accounted for 99.95%).
On June 10th, the topic of #新东安师# ranked 8th on Weibo's hot search list.
On the evening of the same day, the number of simultaneous online users in the Dongfang Selection live broadcast room reached 40,000+. After Yu Minhong appeared in the live broadcast room at 10 p.m., the number of people in the live broadcast room soared to 100,000+, and once rushed into the top three on the Douyin list.
A reporter from Shell Finance noticed that there were many netizens who were "listening to the lecture" in the comment area of the live broadcast room of Dongfang Selection.
"I don't understand, but I really want to buy it", "I've learned so much English, I'm embarrassed if I don't buy it", "I want to hear the Terracotta Warriors teacher speak English." It was an unintentional combination of previous English teaching and selling."
At 23:00 on June 10, Oriental Selection disclosed that the GMV exceeded 10 million yuan on that day, the number of new fans was 320,000, the number of transactions was more than 90,000, and the cumulative number of viewers was 3.95 million.
On June 10, Yu Minhong released a video to celebrate Dongfang Selection's breakthrough of 1 million fans. As of around 7:20 p.m. on June 12, the number of fans in Dongfang Selection's live broadcast room had reached 2.922 million, and the number of fans had increased by nearly 2 million within three days.
"The selection of the East has been partially affirmed by everyone. It is just the beginning. It is an unintentional combination of previous English teaching and selling." Yu Minhong thanked everyone for your attention and partial affirmation in the live broadcast room.
Regarding the future planning of the live broadcast room, Yu Minhong once said on the public account that "Oriental Selection" will provide product value-added services for farmers across the country and become a trustworthy platform linking farmers and consumers; "New Oriental Live Room" will become "Very good" education product sales platform”.
02
Over 10 million goods in a single field
The transformation of New Oriental Live Broadcasting has been "seen" in 6 months
"New Oriental has been transformed for 6 months, and it was finally seen by everyone." After the broadcast, Dong Yuhui thanked netizens on his personal Douyin account.
Turning back to December 2021, New Oriental created the "Oriental Selection" account on Douyin, which focuses on live broadcast of agricultural products.
On December 28, 2021, New Oriental launched a new platform for live streaming, "Oriental Selection", which officially started live streaming.
Yu Minhong, founder of New Oriental Education Group, said that he will appear on the live broadcast platform of Oriental Selection from time to time.
However, apart from Yu Minhong's debut performance, which achieved about 4.8 million yuan, the daily sales of Dongfang Selection are not high.
According to the statistics of Shell Finance reporters, in the 29 live broadcasts from December 29, 2021 to February 20, 2022, the sales of Yu Minhong and Dongfang Selection generally stayed within 300,000 yuan, and the sales of a single live broadcast on some days Even less than 100,000 yuan.
The transition started in mid-April this year.
Cicada's data statistics show that on April 12 and 13, the sales of the "Oriental Selection" live broadcast room exceeded one million yuan for two consecutive days, and the overall sales gradually increased.
With the popularity of the live broadcast room, the stock price of New Oriental also began to rise.
Subsidiary New Oriental Online, the stock price has been soaring all the way, rising for 5 consecutive days. On June 10, it rose by more than 43% during the session. As of the close on the 10th, New Oriental Online finally rose 39.37% to 6.23 Hong Kong dollars per share.
The performance also marked the biggest one-day gain for the stock since it went public.
On the same day, the stock price of the parent company New Oriental also rose by 10.12%.
Why is the live broadcast room suddenly popular?
Has New Oriental found the traffic password for live streaming?
Shell Finance reporters noticed that in addition to the live broadcasts, the anchors will explain in English when promoting products, and they will also talk about Shakespeare, Hegel, and quotes from "A Brief History of Humanity" and "Guns, Germs and Steel".
At the same time, Dongfang Selection also released a number of short videos on the Douyin account to divert traffic to the live broadcast and strengthen the recognition of bilingual live broadcasts by netizens.
On the day of June 9th, Dongfang Selection released #Listening to Teacher Yu's remarks, I felt relieved instantly# A single video increased by 3.379 million during the live broadcast.
"Telling jokes and chicken soup are the basic skills of New Oriental teachers." New Oriental's internal staff said that New Oriental's anchors were mainly teachers before, and they were humorous and witty.
"New Oriental itself has online marketing capabilities, and the bilingual live broadcast will give the audience a sense of freshness." Xiong Bingqi, director of the 21st Century Education Research Institute, told Shell Finance and Economics that it is not surprising that New Oriental's live broadcast room came out of the circle.
But at the same time, Xiong Bingqi also took a wait-and-see attitude on whether the bilingual live broadcast mode can be popular for a long time.
He believes that from the perspective of consumers, more people may want to buy high-quality and inexpensive products through live broadcasts. "How to sit on the head for a long time is a question to be considered in the future."
03
From agricultural products to books, smart hardware
Can New Oriental Live Studio sell more?
The first shot of New Oriental's live broadcast was aimed at agricultural products, but recently the shooting method has changed, and cultural and educational supplies such as books have begun to appear in the live broadcast room.
Industry insiders told Shell Finance reporters that due to the troublesome after-sale of agricultural products, the high consumption rate, the low pit cost, and the easy occurrence of incorrect goods, and the cost of agricultural products on the Douyin platform is higher than other categories, so most of the current Merchants mostly adopt the form of self-broadcasting of agricultural products, and it is difficult to appear the head anchor of this category.
In addition, the industry source revealed, "The commission for most agricultural products in the market is 10%-15%. At present, Dongfang Selection does not charge a pit fee, but the commission ratio is relatively high, at 25%-35%. It is the first time to cooperate with New Oriental to sell a wolfberry, the commission is 35%, the sales volume is good, but it is not profitable for us as a whole.”
On June 8, Yu Minhong posted on his personal WeChat account, Lao Yu Gossip, that New Oriental would form a team of "New Oriental Live Broadcasting Room" in the near future.
This team is dedicated to promoting New Oriental's high-quality educational products and other high-quality education-related products, including books, intelligent software and hardware learning equipment, and learning-related cultural and educational supplies.
"With the continuous improvement of New Oriental's educational products, how to make these educational products reach thousands of households is an important issue that New Oriental needs to think about. Since last year's policy, my definition of New Oriental is to become an education company with educational products as its core. Products We need sales channels, and I have found that the most effective sales channels, apart from finding agents, are live streaming.” Yu Minhong called the live streaming economy the third revolution in commerce. The first was hypermarkets, the second was e-commerce, and the third was The second is live streaming.
Several staff members of MCN institutions told Shell Finance reporters that New Oriental has a strong educational background, and the sale of cultural and educational products such as books and smart hardware in the live broadcast room has natural advantages.
According to Cicada's data, recently, there have been three books in the Dongfang selection live broadcast room, with sales of 3.27 million, 1.06 million, and 1.03 million respectively, and the commission is between 13% and 20%.