---
title: "Detailed Explanation of Matching Model B2B Platforms in the FMCG Industry"
description: "With the rise of FMCG B2B in recent years, various platforms have emerged, but they generally fall into two models: matching or self-operated. This article details the matching model, its variations, industry distribution, and pros and cons, along with financing and registration data."
author: "赵波"
publisher: "New Distribution"
email: "zhaobo258@gmail.com"
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published: "2017-02-11"
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# Detailed Explanation of Matching Model B2B Platforms in the FMCG Industry

> With the rise of FMCG B2B in recent years, various platforms have emerged, but they generally fall into two models: matching or self-operated. This article details the matching model, its variations, industry distribution, and pros and cons, along with financing and registration data.

**Click to read the original text for details**
With the rise of FMCG B2B in the past two years, a number of B2B platforms have emerged in China, but each has a different model. Some start from transactions, some from logistics, retail, or SaaS, and some from multiple sub-sectors such as maternal and infant products, imported food, snack food, fresh food, and alcohol. But in general, they are nothing more than two types: "matching" or "self-operated." From today on, the author will take stock of the various models in FMCG B2B platforms, as well as industry distribution, model advantages and disadvantages, etc.
The matching model in the FMCG industry, as the name implies, refers to a business model where the platform does not participate in the transaction between Party A and Party B, but provides services for the transaction, allowing supply and demand sides to trade online. If it is difficult to determine whether a trading platform is a matching model, the simplest way to distinguish is to look at who issues the invoice. If the invoice received by the buyer is issued by the e-commerce platform, most such platforms are self-operated. If the invoicing unit is not the platform but the supplier on the platform, it is a matching model.
Matching is a relatively mainstream business model in the early stage of B2B. Alibaba, HC360, Zhaogang.com, and in the FMCG industry, early entrants such as Zhanghe Tianxia, Yunbao Shangmeng, and Dinghuobao are all of this model.
Although they are all matching models, the operational details of each matching platform are also very different. In general, the current matching platforms are divided into the following types:
First
**By model**
> **Franchise type:**
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> The platform adopts a franchise form. Franchisees pay a certain technology usage fee to the platform to obtain local franchise rights. The platform provides technology, operations, and brand, while the franchisee organizes local supply chain online transactions and offline customer acquisition. The platform and franchisee jointly share transaction points and service fees. Representative platforms: Zhanghe Tianxia, Tongying Tianxia, etc.
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> **Platform type:**
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> In addition to technology, operations, and brand functions, the platform itself is also responsible for brand launch and offline customer acquisition. Buyers directly cooperate with brand owners, and through their own ground promotion teams, they attract customers, allowing brand owners and convenience stores to trade online independently. Representative platform: Lingshoutong;
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> **Model integration type:**
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> The platform provides technology and market operation guidance, and multiple local distributors form an alliance to jointly be responsible for the platform's local operations, completing functions such as product launch, logistics, and transaction customer service. Representative platforms: Yunmei Xunmao, Piduoduo, Kuaixiaobang;
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> Another type of integration is the integration of local wholesale markets online. Representative platforms: Zhangshang Hongcheng, Yuntiaowei.
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> **Technology integration type:**
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> The platform only provides technology output, and all remaining functions are the responsibility of the software user. Representative platforms: Dinghuobao, Qianmi, Zhongke Shangruan;
Second
**By industry**
> **FMCG:**
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> Yunmei Xunmao, Woniu Kuaicai, Yunshanggou, Hui Xiadan, Zhanghe Tianxia, Kuaixiao Hulian, Gongxiao E Jia, Wanchaobang, Wandy Yigou, Kuailai Zhanggui, Maidelin, Daole E-commerce, Tianbao Yungou, Wanshanggou, Piduoduo, Heizhizhu, Kuaixiaobang, Lingshoutong, 500min, Kuaixiao Guanjia, Quancheng Wang, 96 Dinghuo, Xinhuolang, Wulian Wang, Zhangshang Hongcheng, Zhuoergou, Cuncuntao, Xiangcungou, Yunbao Shangmeng, Dadatong, Ajiu Zhushou, Youdehuo, 360 Jiaoyi Wang, Bianlibao, Wanquan Supei, Pi Dianhuo, Dinghuoyi, Yi Shenghuo, Jiupai Wang, Guanghuojie;
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> **Alcohol:**
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> Jiuxian Tuan, Hehe Yunshang, Kuaizhaojiu, Banjiu Wang, Dida, Danlu Wang, Yinji, Laojiaoke;
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> **Seasoning, ingredients, fresh and frozen products:**
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> Tongying Tianxia, Kuailv (Meituan), Yuntiaowei, Dongpin Hulian;
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> **Imported food:**
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> Haipaike, Dahehang;
Registration distribution
According to statistics from this public platform, there are currently 57 matching-type FMCG B2B platforms in China, mainly distributed in North China and the southeast coast, while the number of matching-type B2B platforms in the central, northwest, and southwest regions is relatively small.
The top 5 provinces in terms of the number of matching-type FMCG B2B platforms are Beijing (11), Fujian (7), Shanghai (5), Zhejiang (5), and Jiangsu (4). These five provinces and cities together have 32 registered matching platforms, accounting for 56% of the total statistics.
> **Beijing-Tianjin-Hebei (13):** Zhanghe Tianxia, Woniu Kuaicai, Mulan Cang, Yunshanggou, Hui Xiadan, Kuaixiao Hulian, Gongxiao E Jia, Hehe Yunshang, Dongpin Hulian, Wanchaobang, Kuailv, Tongying Tianxia, Daole E-commerce
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> **Heilongjiang, Jilin, Liaoning, Inner Mongolia (2):** Tianbao Yungou, Banjiu Wang
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> ********
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> **Jiangsu, Zhejiang, Shanghai (14):** Wandy Yigou, Haipaike, Dahehang, Maidelin, Kuaizhaojiu, Kuaixiaobang, Xiaobao Zhaoshang, Lingshoutong, 500min, Kuaixiao Guanjia, Quancheng Wang, 96 Dinghuo Wang, Xinhuolang (Baiqi Lihe), Wulian Wang
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> **Shaanxi, Gansu, Shanxi (2):** Guanghuojie, Jiupai Wang
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> **Fujian, Guangdong, Guizhou (10):** Yunbao Shangmeng, Dadatong, Ajiu Zhushou, Youdehuo, 360 Jiaoyi Wang, Bianlibao, Wanquan Supei, Huoquanquan, Pi Dianhuo, Dinghuoyi
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> **Hunan, Hubei, Jiangxi (5):** Zhuoergou, Zhangshang Hongcheng, Dida, Cuncuntao, Xiangcungou
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> **Shandong, Henan, Anhui (6):** Yunmei Xunmao, Wanshanggou, Piduoduo, Heizhizhu, Yuntiaowei, Zhangshang Hongcheng
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> **Sichuan, Chongqing, Guizhou (5):** Danlu Wang, Yinji, Zhaodongpin Wang, Yi Shenghuo, Laojiaoke
From the perspective of market coverage, except for Zhanghe Tianxia and Lingshoutong, most platforms have not achieved nationwide market coverage, basically radiating around the registered area. From the perspective of market competition, the four major regions of East China, North China, South China, and Central China are more competitive.
Financing analysis
In 2016, FMCG B2B platforms received huge financing of over 5 billion yuan in the capital market, with more than 20 investment rounds. However, matching-type FMCG platforms were neglected by the capital market, with the only notable data being Zhanghe Tianxia's strategic investment of 700 million yuan by Gongxiao Daji in 2017.
> **Zhanghe Tianxia** received a strategic investment of approximately 700 million yuan from Gongxiao Daji, under HNA Group, a Fortune 500 company, in October 2016, and became its core brand.
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> **Piduoduo** received a tens of millions of yuan angel investment in January 2016, led by famous marketing expert Liu Chunxiong, with participation from marketing gurus Wang Rongyao, Wang Guanqun, Shi Shunkuan, Zhao Yandong, Yang Yonghua, and other FMCG big players.
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> **Woniu Kuaicai** has received investment from Taishan Brothers Founding Fund, Hongtai Fund, and other investment institutions, with the specific amount undisclosed.
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> **Mulan Cang** announced in June 2016 that it had received an angel round of financing of several million yuan, with Zhonglu Capital as the investor.
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> **Xiaobao Zhaoshang** was established in December 2014 and received a tens of millions of yuan angel investment.
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> **96 Dinghuo Wang** was officially launched on April 18, 2016, and announced on the 25th of the same month that it had completed a tens of millions of yuan angel round of financing, led by Qingkui Capital.
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> **Heizhizhu** was established in November 2011 and was listed on the New Third Board on November 18, 2016, successfully going public.
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> **Yuntiaowei** was established in May 2016 and in September of the same year received a pre-A round of financing of 50 million yuan, jointly invested by Zhongrong Capital and Zhida Zhongshi Fund.
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> **Danlu Wang** was established in July 2014 and officially launched in May 2015. In December 2016, it received a huge angel investment, led by TTK Express.
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> **Yinji** was established on September 12, 2007, and was listed on the Main Board of the Hong Kong Stock Exchange on April 8, 2009.
Analysis of model advantages and disadvantages:
**Advantages**
The advantage of the matching model is that it is asset-light, with lower capital requirements, allowing rapid market expansion with a small amount of funds. Since it does not touch goods and is not involved in offline product management, it can theoretically expand products infinitely in the long tail. In terms of resource integration, matching platforms can integrate various resources for docking, achieving more efficient integration and expansion. For example, Lingshoutong, although it does not touch goods or do warehousing and distribution logistics, uses the Cainiao logistics network to integrate third-party warehousing and distribution resources to achieve efficient product delivery.
**Disadvantages**
Matching platforms have indeed brought efficiency improvements and cost reductions to a certain extent through the restructuring of information, transactions, logistics, and capital. But at the same time, we should also see that the biggest feature of FMCG is high frequency. High-frequency categories generally have relatively concentrated industry brands, such as milk, beer, ham sausages, instant noodles, beverages, etc. Once a category becomes a national brand, it generally has a relatively complete national product distribution network. Matching platforms will to some extent replace the functions of some middlemen, which causes channel dealers to resist matching platforms, bringing great challenges to the platform's organization of A-class products. The author's previous article "How Can the FMCG B2B Matching Model Be Valuable?" has discussed this in depth, so I will not repeat it here.
******Opportunities**
Of course, not all FMCG categories are very concentrated. In some industries, such as maternal and infant products, snack food, stationery, condiments, daily chemicals, fresh and frozen products, etc., the upstream and downstream brands are relatively fragmented. Therefore, in these categories, the matching model still has great potential. In addition, the catering industry is also suitable for the promotion of the matching model.
**Threats**
Since it is difficult for the matching model to have large barriers in terms of model and technology, the driving effect of capital on FMCG B2B is very obvious. In 2017, the Matthew effect of the matching model will be very obvious, and there will inevitably be a new round of reshuffling among matching platforms.
In terms of category selection, the author suggests that matching platforms should try to choose industries where the upstream and downstream are relatively fragmented, there are no industry giants, and brand awareness is low.
In terms of channel structure, it is recommended that matching platforms choose categories with relatively many levels, such as provincial agents + second-tier distributors, and categories that rely more on wholesale market distribution.
In terms of product organization, the author suggests that matching platforms try to cooperate directly with supply chain leaders (brand owners), avoid local product transactions going online, and use self-owned or third-party cooperative logistics to control transactions and avoid order diversion.
In 2017, there will still be major market changes in FMCG B2B. It is still unknown which matching platform will win, but I believe that in the near future, some matching platforms will achieve success with the help of certain categories.
Vote: Which matching B2B platform do you favor most?
If there are any omissions in the above statistical list, please leave a message to supplement, or long-press the QR code below to communicate with the editor. We will add them in subsequent interpretations.
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