Extraordinary Genius - Chapter 1287

Chapter 1287 – Similarities and differences

“Congratulations, Brother Ki. You have both a son and daughter. In China, son and daughter characters will form a ‘hao’ (Good) character, which is very auspicious.”

“Hahaha… I also think this is good! The Fengshui master who helped me build this mansion had said I would surely have both son and daughter. He is very accurate with his predictions. Should I give him a red packet based on your Chinese customs?” Kirilenko laughed.

“Huh… maybe… I think you should give him.” Feng Yu does not know as he had never hired any Fengshui masters.

“You must drink more today.” Kirilenko gave Feng Yu a hug.

Feng Yu replied. “Alright. I will do my best. Oh, this is called longevity lock. It is our China’s ancient custom charm, and it is to wish for the child to grow up healthy.”

Feng Yu had prepared this gift for Kirilenko’s son.

“Is this a Chinese charm? It’s made from pure gold. Interesting. I believe this child will love it. Is it worn around the neck?”

“Yes. It’s auspicious.” Feng Yu knew Brother Ki still prefers shiny items. He was not this happy when he receives that expensive painting.

At night, Feng Yu got drunk again. He had tried his best to keep sober but failed.

When Feng Yu wakes up the next day, it was almost noon.

“Feng, why are you so late? You had not drunk much yesterday.” Kirilenko grumbled. Feng Yu still cannot hold his alcohol after so many years.

Feng Yu: “……” A bottle of Baijiu is not much? Do you think everyone is like you who can drink alcohol as if it is plain water?!

“Oh, you mentioned that the supermarket online shopping website is online now. How many users do we have now?” Feng Yu asked.

Russian’s online shopping website is different from the US and China and can be considered the real online supermarket.

The Russian shopping website is also using the B2C model. The supermarket will be selling its products to consumers, and the prices are the same as other supermarkets. Even the discounts and promotions are the same as the actual retail stores.

The only difference between this website and the supermarket is customers need to pay for the delivery fees.

The customers can also understand the delivery charges. Even when they drive to supermarkets, their petrol also costs money. Furthermore, they don’t need to leave their home and can get their groceries.

There is a Polar Bear Supermarket branch in almost every big city in Russia. Customers can get their groceries delivered on the same day.

“There are more than 1 million registered users now. We are fast, right?” Kirilenko proudly replied. They have more users than eBay and Amazon.

“Not bad. What about the users’ activity? How many transactions do we have daily, the average spending per transaction and profits?” Feng Yu asked.

“Huh? I don’t know about all these!”

Feng Yu: “…….” Do you have to be so loud when you don’t know?

Alright. Feng Yu also don’t know about Tai Hua Supermarket Chain’s average transactions, etc. Kirilenko and Feng Yu are the same. They are used to letting others run their company.

“Wait a minute. I will get someone over with all the information.”

An hour later, the person in charge of Polar Bear Supermarkets arrived.

Feng Yu looks at the information. The supermarket is growing rapidly and is massive in East Europe. They are stopping the supermarket chains from the US and West Europe from entering their market.

Also, the Polar Bear supermarkets are expanding very fast. They started from the major cities and had expanded to the smaller cities. Their brand awareness had grown, and almost every Russian know about them.

Their expansions do not only include opening new stores. They also acquire other supermarkets, and their scale starts to snowball.

Of course, this Polar Bear Group is in the same situation as Tai Hua Supermarket. They have high transactions and profits, but they don’t have money in their accounts.

They also took loans for their expansions, but their supermarkets will bring high returns within three years.

The online shopping website’s development also requires high investment and will need around two years to recover their cost.

If they are lucky, they can see some returns in the third year. If not, they have to wait until the fourth year. But Feng Yu believes that it should not be a problem for them to see returns in the third year.

Brother Ki also has the help of other former Soviet Union second generations. Having a monopoly over East Europe is not a problem. If they still cannot see profits after controlling such a vast market, they will be failures.

When you own more than 50% of the market share, you can set the industry standards and use them to your company’s advantage. There is no way you will fail.

For example, Polar Bear Supermarket’s biggest advantage is its variety of goods. They will set the benchmark for the industry. Supermarket chains must have at least a certain number of products and have at least a certain number of imported products before they can be considered a major online shopping website. This way, another online shopping website can never win against them.

The supermarket industry is different from the F&B industry, where many people like to go to small restaurants. Most people would prefer to go to big shopping malls as there are more product varieties, and it is more trustworthy. Also, the prices will be slightly lower due to the economy of scale.

Polar Bear Online Shopping website might be using the B2C model, but it is quite different from Amazon. The biggest difference is Polar Bear Supermarket has brick and mortar supermarket chain. All their products are the same as their supermarkets. If customers have issues with the products they bought, they can exchange or refund at the supermarkets.

The Polar Bear Supermarket cashflow is also supporting their current online shopping website.

Feng Yu and Kirilenko’s online shopping websites use different operating models and discuss finding a more suitable model where both can benefit.

In the future, their internet companies might cooperate. Once they join forces, they can easily win against other internet companies and form a monopoly.

Monopolizing a market in any industry will bring in massive returns. They don’t even need to monopolize the market. When they own more than 50% of the market share, they can easily affect the market.

“Brother Ki, this shopping website is doing better than I expected. But it is having some issues with the funds now, right?”

“It’s not a problem. We are using loans to support it. When the loans can no longer support it, we can inject funds into it. It’s not worthwhile to invest our funds now as the returns from Gold Futures are much higher. I notice gold prices are rising rapidly every month!” Kirilenko is calmer than Feng Yu.

Feng Yu laughed. He can think of these issues, and Brother Ki should also notice them. Even if Brother Ki did not notice these issues, his subordinates should also remind him.

“Oh, Feng. Listen to this.

Lock charm