Rakuten Ecosystem user numbers continue to demonstrate sustained growth, as does the percentage. Rakuten Native needs to choose whether it wants to implement a distribution system which is - Direct, Indirect, or Both. This feature contrasts with other multi-sided retail sites that try to . The Bank's Kantan Furikomi or Easy Deposit settlement service enables customers to send money using Merumane (Mail Money), Facebook Pay, or Viber's money transfer service. Moreover, members accrue Rakuten reward points when using any of the services offered by Rakuten-affiliated companies. A money transfer service that does not require the payee's account number. Japan's banking industry had no new entrants for many years until 2000, when several online-only banks were established. It became clear that many other types of value added services were required or desirable to make the marketplace functional, highly integrated, and scalable, and so to create the competitive value proposition for which Rakuten is now so well known Initially these value adding complementary services were supplied by third As a result, conventional banks are unable to compete with online-only banks in terms of price competitiveness. Rakuten Bank, however, charged a flat rate of 300,000 yen (excluding tax) on home loans in November 2020. Accomplish in one month what it takes other companies a year to do, because we can only win by being many times faster than our competitors. The bank's employees are expected to become able to take into consideration the customer's life as a whole in the designing of banking services. Top Selling Online Products - Understanding eCommerce For customers, the usability of these points represents significant value. Next, the bank has made its banking services more attractive by offering them in combination with the services of other Group companies. The bank believes that in order to gain the customers' trust, its services have to be improved on an ongoing basis and in a speedy manner. The ability to offer banking services in combination with other services makes it possible for Rakuten Bank to further enhance customer convenience. There are also numerous requests that must be met. It then quickly responds by making improvements. The bank monitors customers' online behavior, noting page transitions, breakaway points and other types of monitoring issues, and identifies any points that might be difficult to understand, or that might be a source of stress for customers. Measures to improve customer convenience, such as the successful introduction of a common free shipping threshold for participating merchants on the internet shopping mall Rakuten Ichiba, have been successful, leading to an increase in customer loyalty for Rakuten Ichiba and other services. First, there are all kinds of preliminary screenings and inspections before a bank can get a banking license. The membership base for each service continued to steadily expand, and both revenue and profit in Q2 FY2021 increased compared to the same period of the previous fiscal year. Your potential customers will have needs, expectations, and pain points. (*1) In addition, customers can move seamlessly between Rakuten Bank and other Rakuten Group companies, including an investment trust bank, a securities company, and an insurance company, when other non-banking services are required. It also maintains Rakuten University to provide training for merchants who are new to the Internet commerce world. *6 Comparison of the total number of subscribers of two or more insurance companies out of Rakuten Life Insurance, Rakuten General Insurance and Rakuten Pet Insurance in June 2019 and June 2021. For this reason, Rakuten Bank has formed alliance agreements with other ATM operators, enabling customers to use the ATM networks of megabanks, convenience stores, and Japan Post Bank. Finally, the pursuit of the following core activities that mutually reinforce all the bank's other activities: Cross-selling, based on an analysis of customer data; the development of seamless services; and continuous and speedy improvements in IT systems development that will further enhance the bank's reliability. . There are about 30 million members who make purchases with a high rate of frequency. It is for this reason that all employees are given the chance to speak directly with customers and that the organization as a whole makes it a priority to improve both the quality of its banking services and the speed with which those services are upgraded. Identify your target customers and target market segment to understand their desired benefits. Rakuten Bank maintains a collaborative relationship with more than 70 other Rakuten Group businesses, including Rakuten Ichiba and Rakuten Securities, Inc. Does not undertake over-the-counter sales of investment trusts. Rakuten Bank's value chain is designed to enable the bank to develop superior banking services, offer them at a lower fee, and seamlessly provide a wide variety of services, taking full advantage of synergies with other Rakuten Group companies. For example, the new customer acquisition cost is controlled by taking into consideration the customer lifetime value (CLV). *8 Excludes mortgage loan group credit life insurance. Nearly all of these various services are accessible from a single smartphone app. Due to the buildout of the Rakuten Mobile service area accelerating ahead of plan, the Mobile segment recorded losses of 421.2 billion yen. *3 Shopping e-commerce GMS = Total GMS of Rakuten Ichiba + First Party (Rakuten Fashion, Rakuten Books, Rakuten 24 and other first-party daily necessities shops, Rakuten Seiyu Netsuper) + Open EC (Rakuten Rebates, Rakuten Pay online payments) + Rakuma. How to Write a Value Proposition (+ 6 Modern Examples) Shoppers on JD.com can access a wide variety of . A tagline is a short statement that embodies a certain aspect of your brand or business. All employees are welcome to participate. Read "The Retail Value Proposition Crafting Unique Experiences at Compelling Prices" by Kyle Murray available from Rakuten Kobo. At the forefront of a rapidly evolving world, Rakuten Group is continually expanding its operations into new fields. Research by Rakuten Bank. Rakuten is first and foremost a service company.