YESSTYLE – Business and Revenue Model
For this blog I would like to discuss about YESSTYLE Business and Revenue model. Before we talk about this case, so what is business and revenue model?
A business model describes, in a model-like and holistic manner, the logical connections and the way in which a company generates value for its customers. A company can operate several business models at the same time.
A revenue model describes the structure of how a company generates revenue or income. Each customer segment can contain one or more revenue streams
YesStyle (Ex.YesAsia) is an online shopping that generated in United States as well as in France and the United Kingdom launched July 2006 and selling beauty, fashion and lifestyle products. YesStyle’s headquarters is located in Kwai Chung. There are premium brands on there across Asia, including Cosrx, Mizon, Memebox, Some by Mi, innisfree, 3CE, chuu and Dear, Klairs. Their shipping reached the worldwide shipping.
YESSTYLE Vision :
To provide customers with an exciting shopping experience, superior service and a fine selection of affordable, high quality Korean beauty products, and Asian fashion and lifestyle products.”https://www.yesstyle.com/en/about-us/company-overview.html
YESSTYLE Target Customer:
YesStyle is available for over than 200 countries and especially they offer the product for woman and young girls but some skincare could use for man also.
In my opinion, YesStyle has a website that user friendly .They offer and have a product segmentation which is a good thing because they offer many product over than 100 product in 1 type of product.
YesStyle offer the premium Asia brands that worldwide customer could bought it. The good experience of this is I bought some of Korea brand that there is not sold in Australia. This customization product for worldwide customer is helpful and could reach more customer.
YesStyle has “Our Promise” section for their customer. The one of it is about Shipping. There are estimated delivery time in their website after you did the transaction.
If you do not receive your order within the estimated delivery time, please contact our Customer Service Team. Lost shipments will be reshipped to you without extra handling or shipping fees.https://www.yesstyle.com/en/about-us/company-overview.html
Besides that, YesStylealso offer the Returns and Exchanges. For customer who dissatisfied with their product from YesStyle, customer could call their customer service to get the return or exchanges.
If you’re dissatisfied with a purchase from YesStyle, you can send it back to us within 14 days for an exchange or return. The issue can be size or color or anything at all. Your satisfaction is our concern, so if for any reason you’re unhappy with a product, you can talk to us.https://www.yesstyle.com/en/about-us/company-overview.html
In the YesStyle transaction, there are Store Credit for the loyal customer. Store Credit is like a credit card for your account and everything you do the transaction, you can use your credit. The good things of YesStyle is they offer the Store Credit Refund. This is a convinience things for online customer because if they want the refund, they will got it as a credit and could applied for next purchase.
For convenience, we issue refunds in YesStyle Credit, which will be credited to your YesStyle account immediately. YesStyle Credit can be applied on your next purchase.https://www.yesstyle.com/en/about-us/company-overview.html
In YesStyle Website, they have a 3 inquiry for their customer to reach YesStyle. The first one is Customer service itself. We could send them email or click on the Message icon. Even though there is business peak season such as holiday, they will reply your messages in 2 business days.
The second one is order tracking. The customer could track their transaction in their website. In my opinion, this part is helpful for worldwide customer. Sometimes customer got curios about their product and not be patient to know where their product is.
Last is email their CEO. It is unique part, because it is rarely, we found the online shopping that could message their CEO.
KEY ACTIVITES, PARTNER, RESOURCERS
For their key activities, they have an Instagram account for their promotion. They use the YesStyle influencer as well to create the content creative for their main account.
Maintenance with their business partner such as premium brand is another their activities in this business. Their main resource is a website or database itself. Because they are an online shopping, the IT jobs is a main thing that they should taking care of it. This is important, because they handle the data from other business partner also, they have a customer data from the payment transaction and the shipping as well. The safety of the website should be has a good maintenance and not become the scam for customer.
How they could get the revenue? Based on e-commere revenue analytis, in the 2018, YesStyle.com got US$399,6M . YesStyle claim that they are one of the fastest growing e-commerce businesses worldwide, with an average year-on-year business growth of 35%. They are using the “virtual merchant” like everyone use.
Product revenue is the main revenue for YesStyle. The other things is investing from investor and partnership with other business partner such as the premium brand and Korean News Website.How they could get the revenue? Based on e-commere revenue analytis, in the 2018, YesStyle.com got US$399,6M. YesStyle claim that they are one of the fastest growing e-commerce businesses worldwide, with an average year-on-year business growth of 35%.
That’s all of my analysis for business and revenue model from YesStyle! How about it guys? Have you tried it? Please share it with me!
Ecommercedb. (2019). Yesstyle Analytics [ONLINE]. Retrieved from: https://ecommercedb.com/en/store/yesstyle.com
Emprechtinger, F. (July 22,2019). Business Model versus Revenue Model – what is the difference? [ONLINE]. Retrieved from: https://www.lead-innovation.com/english-blog/business-model-versus-revenue-model-what-is-the-difference
Wikipedia contributors. (2019, September 3). YesAsia. In Wikipedia, The Free Encyclopedia. Retrieved from https://en.wikipedia.org/w/index.php?title=YesAsia&oldid=913907527
YesStyle. Available at : https://www.yesstyle.com/en/home.html