Weekly Update #8: Q1 Recap — April 4th
WaBi / Walimai developments and events, every Wednesday
The first quarter of 2018 has come to an end and Walimai & WaBi are moving ahead, full-steam. In light of this, this week’s Weekly Update will focus on our Q1 goals and the progress achieved in reaching each of them.
Please refer to the original 2018 Timeline article to find out more information regarding the individual categories for our goals.
- Initiate discussions with Fortune 500 companies in the food, alcohol, and pharmaceutical industries [Negotiations already in-progress with 2 out of 3 industries as of 01/20/2018]
Since January, we have engaged in discussions with 8 different Fortune 500 companies and a national government. These conversations are proceeding with various levels of progress. Due to the sensitivity of on-going negotiations we cannot publicize their names. We can, however, state that these companies operate in a variety of industries, even outside of the goal’s ‘Food, alcohol, and pharmaceutical’ industries.
Aside from Fortune 500 companies, we’re also in talks with over a dozen other manufacturers, brands, and specialized companies. As discussions are finalized we will share the details with the community.
- Grow our product portfolio to a minimum of 50 SKUs and expand across new product categories
With the addition of Vadim Mishin to the Walimai team acting as our Business Development lead in Australia, we now have boots on the ground to integrate high in demand Australian brands into the Walimai retail channel. Our current number of infant nutrition SKUs is 20, with more expected to join the portfolio in the coming months.
We’ve also incorporated a new category into our product portfolio: Functional Nutrition. The first brand in this category to be sold through the Walimai retail channel is Siberrya, which will be providing us with a total of 17 new SKUs, including sugar-free chocolates, nutrition bars, honey berry treats, and gift sets.
Each new brand joining the Walimai retail channel will bring with it a healthy batch of new SKUs, so expect this number to grow substantially over time.
- Partner with industry-appropriate Chinese influencers with substantial online followings (circa 50.000 followers)
Walimai has partnered with a KOL in the Mother / Childcare streaming categories to spread the word about our safe products for children and parents. With over 60.000 followers, she will be reaching the ideal demographic for our current portfolio. A larger media push through this channel will occur in Q2/Q3 as we roll out our improved product, look, and enhanced user friendly experience.
- Design the digital touch shelves
As we’ve stated in last week’s Weekly Update #6, we’ve finalized the Scope of Work with a major design firm. Their design work will overhaul our digital touch shelves to be placed in Walimai POS, ensure a user friendly experience for the Walimai consumer app and WeChat app, create new websites clearly delineating the products we offer, and provide a fresh new look for our overall business image. We expect this process to be completed in Q3 of 2018.
Thought Leadership and PR
- Redesign and update the websites Walimai.com and Wacoin.io
- Launch official communication in alternative languages (Chinese)
As of the 5th of April, the Wacoin.io and Walimai.com websites have been revised and updated in content to align with our current progress. As stated above, a more elaborate ‘rebranding’ will occur over the course of Q2 and Q3 of 2018.
The channels for our official communication in Chinese are ready to go. We are still looking for the right candidate to join Walimai and take the lead on handling Chinese community management and PR. We will let the community know when we’ve made our decision.
Through our social media channels and Telegram groups we are in constant contact with our community. When the community has questions, we are aware. We’re making progress in leaps and bounds, but a lot of said process can either not be discussed yet or won’t come to fruition for months. Rome was not built in a day, nor is Walimai. Priorities sometimes course-correct.
Our current focus lies with perfecting the product and user experience before doing any major media or marketing push. True growth will come in due time when we’re able to put our best foot forward when expanding inside the China market.
We hope the community understands our reasoning and will follow us into the future. We’ve proven the need. Now we need to focus on making it the most user friendly and streamlined process for consumers to adopt, city to city, province to province.
The next Weekly Update will be published on the 11th of April.
Want to join the conversation? Talk to the team?
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