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Thursday, December 13, 2007 10:24:24 AM
Haorizi/Good Life is outbanking the banks in the rural areas, IMO.
The international banks are looking at the "deposit-gathering and lending possibilities of a nation with a $9.9 trillion spending power."
Great, we should welcome the competition and the awareness.
Madame Dongmai Jia seems to be maximizing the real estate within thousands of stores by forming micro-banks ... insurance, small loans, etc.
Talk about staying close to your customer:
"In addition to traditional retail sales, each store also features a membership option for its customers. Members can order products online via the Company’s web-enabled ecommerce website (http://www.huozhan.com/). Deliveries can be made to customers within a 1 kilometer trading area around each store, or retail products can be ordered for pickup at a local franchise store.
This membership concept provides a powerful tool to cross-market products and services well beyond the traditional offering of a convenience store. In rural areas, farmers can order farm input supplies and products, and Good Life will be expanding into new areas in the short-term, such as farm crop insurance, small loans etc."
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