Missfresh Successfully Launches Personalized Concierge Experience for High-value Customers, Doubling Relevant Monthly ARPU

Rhea-AI Summary

Missfresh Limited (NASDAQ: MF) has successfully completed the first phase of its 1V1 Advisor personalized shopping concierge service, achieving significant increases in customer engagement. The average orders per customer rose by 70%, while the average monthly revenue per user doubled, indicating strong program performance. Launched in Q3 2021, this initiative aims to enhance user loyalty through personalized shopping experiences. Missfresh anticipates that 30% of users will participate in the program by mid-2022, reflecting its commitment to customer-centric growth strategies.

Positive

• Average orders per customer increased by 70%.
• Average monthly revenue per user doubled.
• Anticipated participation of 30% of users in the program by mid-2022.

Negative

• None.

BEIJING, Feb. 16, 2022 /PRNewswire/ -- Missfresh Limited ("Missfresh" or the "Company") (NASDAQ: MF), a pioneer in China's neighborhood retail industry, announced today that it has completed the first phase of its rollout of the Missfresh 1V1 Advisor personalized shopping concierge services. The average number of orders per customer and average monthly revenue per effective user (also known as the average revenue per unit or ARPU) participating in the Missfresh 1V1 Advisor program have shown encouraging performance, up 70% and 100% respectively, compared with that of non-concierge service customers, according to the Company's transaction data.

As one of Missfresh's main initiatives driving its high-quality growth strategy, the successful launch of the 1V1 Advisor program is a testament to the Company's effective methods in fine-turning its operations to cater to high-value customers while also continuously improving its operational efficiency.

Missfresh launched the 1V1 Advisor program for its existing and potential high-value customers on its on-demand online retail platform in the third quarter of 2021. Under the program, the Company's dedicated advisors provide one-on-one communication with customers via WeCom, a business communication tool developed by the Tencent WeChat team. Missfresh users can enjoy the 1V1 Advisor services through WeCom if they accept an official 1V1 Advisor program invitation from the Company's customer service team, WeChat official account, or delivery riders.

The 1V1 Advisor services encompass the entire shopping process from pre-sale to purchasing and post-sale, including personalized product recommendations, Q&A on product usage, understanding user needs, and following up on customers' feedback. Missfresh foresees that 30% of its users will be covered by the 1V1 Advisor program by mid-2022.

Focusing on increasing revenue from the existing customer base while also enhancing user loyalty and engagement is increasingly the preferred marketing strategy for e-commerce players as the internet sector leans towards high-quality development amid a highly competitive operational environment. The launch of Missfresh's 1V1 Advisor services enabled the Company to entice and engage China's coveted "private domain traffic", which refers to customers cultivated through direct communication on platforms such as WeChat. This method of interacting with users allows for more personalized handling of customers' needs, which in turn heightens high-value customers' stickiness to the Missfresh platform.

Presently, Missfresh's 1V1 Advisor program offers personalized services according to users' diverse preferences, such as recommending foods with higher nutritional value to fitness enthusiasts and baby food choices to young moms – boosting users' inclination to make a purchase.

Another exceptional benefit of Missfresh's 1V1 Advisor is its ability to drive product innovation through accurately identifying user needs. For example, several ready-to-cook vegetable products and versatile seasoning blends sold by Missfresh were created to meet user needs identified by Missfresh's advisor program.

Lei Zhou, head of Missfresh's private domain operations, said, "Missfresh's 1V1 Advisor is definitely more than just a shopping guide – it is a lifestyle consultant who uncovers customers' unexpressed needs and solves any issues that might come up during the shopping experience. Users can consult their designated advisor directly for any shopping needs, and advisors also actively offer users relevant recommendations. The advisor program not only elevates users' shopping experience but also increases their shopping frequency and average revenue per customer, ultimately maximizing customer lifetime value."

About Missfresh Limited

Missfresh Limited is an innovator and leader in China's neighborhood retail industry. The Company invented the Distributed Mini Warehouse (DMW) model to operate an integrated online-and-offline on-demand retail business focusing on offering fresh produce and fast-moving consumer goods (FMCGs). Through the "Missfresh" mobile application and Mini Program embedded in third-party social platforms, consumers can easily purchase quality groceries at their fingertips and have the finest products delivered to their doorstep in 36 minutes, on average.

Leveraging its core capabilities, Missfresh launched an intelligent fresh market business in the second half of 2020. This innovative business model is dedicated to standardizing and transforming fresh markets into smart fresh malls. Missfresh has also built up a full stack of proprietary technologies that empower a wide range of participants in the neighborhood retail business, such as supermarkets, fresh markets and local retailers, to jumpstart and efficiently operate their businesses digitally.

For more information, please visit: http://ir.Missfresh.cn.

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SOURCE MissFresh

FAQ

What is the Missfresh 1V1 Advisor program launched on February 16, 2022?

The Missfresh 1V1 Advisor program is a personalized shopping concierge service aimed at enhancing user engagement and increasing revenue for high-value customers.

What performance metrics did Missfresh report for the 1V1 Advisor program?

Missfresh reported a 70% increase in average orders per customer and a 100% increase in average monthly revenue per user participating in the program.

When was the Missfresh 1V1 Advisor program launched?

The Missfresh 1V1 Advisor program was launched in the third quarter of 2021.

What percentage of users does Missfresh expect to engage with the 1V1 Advisor program by mid-2022?

Missfresh anticipates that 30% of its users will be covered by the 1V1 Advisor program by mid-2022.

How does the 1V1 Advisor program benefit Missfresh's business?

The program enhances customer loyalty, increases shopping frequency, and drives higher average revenue per customer, ultimately maximizing customer lifetime value.