Recently, Pinpianyi, an industrial internet enterprise providing one-stop services such as collective procurement and distribution, and unified warehousing and distribution for convenience stores, secured hundreds of millions of yuan in Series C+ funding, exclusively invested by Yingke Capital. Previously, Pinpianyi had received investment from several leading investment institutions including Harvest Capital, Qingsong Fund, and Mingyu Ventures. The funds will be mainly used for technology R&D, talent reserve, and market promotion.

Wang Wei, senior partner at Yingke Capital, said:

"Pinpianyi has exclusive competitive advantages in core technology, building an aggregated supply chain platform through algorithms, which can empower the industry chain without adding supply chain nodes or additional capital expenditure, improving overall industry efficiency. Combining the strengths of 'Pinduoduo + Didi + Toutiao', it has the potential to lead the industry in the FMCG sector, a diamond-level track with a market space exceeding 10 trillion yuan."

Recently, the Ministry of Commerce and 11 other departments jointly issued opinions on promoting the construction of a 15-minute convenient living circle in cities, aiming to serve community residents and meet their daily and quality consumption needs.

Pinpianyi is precisely an asset-light, operation-heavy industrial internet enterprise that serves millions of community convenience stores, driven by technology and algorithms.

For the three elements of the traditional business closed loop—people, goods, and places—Pinpianyi does not attempt to change any one party or some links, but simplifies complexity through intelligent matching algorithms, improving transaction efficiency for all parties, thereby empowering participants in every link: reducing procurement costs for convenience stores, expanding channels and terminal coverage for brand owners; increasing sales scale for distributors; and enabling crowdsourced drivers to receive more orders.

For convenience stores, including traditional mom-and-pop shops and grocery stores, they are at the end of the supply chain, facing various problems such as no bargaining advantage, long procurement cycles, information asymmetry, capital pressure, unsold goods, and chaotic accounts.

Pinpianyi collects and analyzes data from both convenience stores and suppliers, builds algorithm models from multiple dimensions for intelligent transaction matching, and intelligently recommends optimal procurement plans and combinations to convenience stores.

Typically, a convenience store needs to purchase 50-100 categories at a time, requiring connections with multiple suppliers. Each supplier offers different brands, prices, and other differences. Additionally, the geographical location of the convenience store determines differences in procurement costs and sales categories.

Through data collection and AI algorithm application, it can analyze in real time effective data such as prices, delivery cycles, logistics costs, and product inventory of different suppliers in the city, thereby achieving a globally optimal matching solution for convenience store procurement and distribution. The core of improving efficiency is the intelligent matching algorithm.

To address the problems of small purchase quantities and complex categories for convenience stores, which make it difficult to achieve economies of scale and thus lack bargaining power, Pinpianyi has developed an intelligent order pooling algorithm that allows convenience stores to enjoy lower procurement prices.

From data, Pinpianyi can help convenience stores reduce procurement costs by 10-30%, while increasing procurement and operational efficiency by 10 times.

Pinpianyi's logistics pooling algorithm enables convenience stores to receive purchased goods faster in one delivery, and through intelligent scheduling of crowdsourced drivers, it achieves unified distribution services from multiple distributors to multiple convenience stores.

For crowdsourced drivers, intelligent order allocation and fulfillment within limited time and space reduces empty driving rates and loading/unloading waiting times, resulting in higher input-output. Currently, Pinpianyi promises next-day delivery for convenience stores cooperating with the platform, with the fastest delivery within 2 hours.

For brand manufacturers, Pinpianyi opens up the provincial and municipal markets already developed by the platform, helping them increase terminal channel coverage; enhance marketing depth and improve marketing efficiency; directly obtain terminal feedback to improve service quality; especially establish rapid promotion channels for new products; additionally, Pinpianyi implements strict category and price controls to prevent vicious competition.

Through data, algorithms, and operational services, Pinpianyi organically integrates resources of distributors, brand owners, and crowdsourced drivers, providing convenience stores with multi, fast, good, and economical collective procurement and distribution, and unified warehousing and distribution services, exploring an effective path for offline commercial outlets to apply new technologies and new models.

Currently, companies engaged in FMCG B2B mainly include Retail Link, Zhangguibao, Yijiupi, and Zhongshang Huimin, with two main business models: matching and self-operated.

In comparison, Pinpianyi, based on AI machine learning, deeply analyzes convenience store purchase order data and distributor data to mine optimal procurement plans for convenience stores for intelligent matching.

That is, through technology and data means, it accelerates the connection between FMCG stores and products, reduces intermediate product storage, transportation, and circulation links, thereby reducing costs and product expiration losses in stores, thus achieving larger single-city operations and greatly enhancing convenience store owners' sense of gain.

After nearly 4 years of development, Pinpianyi has completed market layout in 15 cities across 6 provinces including Zhejiang, Jiangsu, Guangdong, Hunan, Henan, and Sichuan, covering 100,000 products, with more than 200,000 stores registered, and key city coverage reaching 80%. Stores maintain high-frequency ordering and high retention in the long term.

Pinpianyi aims to reshape the FMCG circulation model, achieve more efficient reach among brand owners, stores, and consumers, and release the ten-trillion-yuan market value of FMCG circulation.

Review: Asher

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