Judy Shaw sits down with Stephen Liu
Category
📺
TVTranscript
00:00Technology is very important to us.
00:02Actually, we are one of the first companies in the industry to fully adopt cloud-based software applications.
00:16Stephen, it is wonderful to have you on Floor Talk here at NYSE International Day.
00:20Thank you. Thank you for having me.
00:22So, Mel, I want to start off by talking about the company. Tell me about Chanyan Yuehse.
00:26Thank you. So, we are Chanyan Yuehse, short for CYYS.
00:31We are China's largest freshly made tea drink company.
00:36So, we are directly operated.
00:38Currently, we have 900 stores across the country with more than 6,000 employees.
00:44So, we were founded in 2013 in Changsha City from China.
00:50So, on top of the freshly made drinks, we also offer lifestyle retail products like this one.
00:58So, we started offering them since 2020.
01:02Right now, it contributes to more than 30% of our total sales.
01:07To my knowledge, that is the highest in the industry.
01:11Now, tell me, how does technology drive the customer experience?
01:15Technology is very important to us.
01:17Actually, we are one of the first companies in the industry to fully adopt cloud-based software applications.
01:25Just to give you an example, people are familiar with the Starbucks apps.
01:31There are a lot of functionality in it.
01:33So, we also have a similar WeChat mini program in China.
01:38For example, if a customer is interested in buying one of these retail products,
01:43they can use our WeChat mini program to search exactly which store has the inventory.
01:50Once they find it, they will be able to either buy it, or they can redeem their membership points for it.
01:57So, once they get it, they can either go to the store to pick it up in person,
02:01or they can have it directly shipped to their house.
02:04So, very convenient for the customers.
02:06Now, how do you ensure product consistency across so many stores?
02:10One of our biggest advantages is that we are directly operated.
02:15So, that gives us the advantage of putting service and quality above everything else.
02:21So, we are so confident that we offer customer satisfaction guarantee from day one.
02:27That means if a customer is not happy with a drink, they can always come back to us and ask for another one.
02:34So far, we've been doing good on that part.
02:37Now, as you look to the year ahead, what are the priorities for ChangYong YouSeo?
02:41I think there are three things.
02:43Number one is, as always, product development and research is always the top priority.
02:51So, we want to make sure that the customer is always surprised with our delicious and attractive new products.
02:58And the second thing is that we're still looking for ways to get into new markets.
03:04Just to give you a number, there are 15 new Tier 1 cities in China, and we're only in six of them.
03:11So, that leaves us a large space to grow.
03:15And also, we're looking actively for international expansions.
03:19All right. Well, Stephen, it's been wonderful to talk with you. Thanks for joining me on Floor Talk today.
03:22Thank you. Thank you very much.