rakuten value proposition

In Q4, shopping e-commerce GMS*3 grew +11.7% YoY, achieving additional growth even after the impact of increased demand due to stay-at-home trends in FY2020 that led to significant growth of +45.2% compared to Q4 FY2019.Expanded cross-use between Rakuten Ichiba and other e-commerce services such as Rakuten Seiyu Netsuper, Rakuten Beauty and Rakuten GORA have contributed to the increase in total GMS.For Rakuten Travel, the total number of guest nights*4 in Q4 FY2021 showed positive growth of +5.1% on FY2019. During the meeting, the sales staff member makes an effort to accurately identify the customer's needs, and then offers a selection of customized products and services, utilizing a cross-selling approach. There is no need to start up a personal computer. That is to say, anyone with a smartphone can access all of these services. To fulfill our role as a Global Innovation Company, we are committed to maximizing both corporate and shareholder value. The core values of the Rakuten Group, along with the values and principles understood and practiced by Rakuten employees, embody Rakuten Shugi. *1 Percentage of users of 2 or more services in the past 12 months divided by the number of users of all services in the past 12 months (as of the end of June 2021). It's worth signing up to Rakuten TV simply to access this gratis stuff, and you'll easily find enough to while away a weekend or two. Through delighting our customers, we seek to achieve our mission of Empowerment and contribute to society. Meanwhile, Rakuten Bank has introduced its customers to other Group companies. Rakuten Ecosystem user numbers continue to demonstrate sustained growth, as does the percentage. Mikitani proved his doubters wrong when the company became a huge success, generating revenues of 25 million by the end of its first year. In Q4 FY2021, the number of payroll accounts increased +55.4% YoY, the number of transactions increased +17.4% YoY, and more customers are using Rakuten Bank as their main bank account for daily life.Rakuten Securities surpassed seven million general securities customer accounts in December 2021, an increase of two million accounts over the last year, when the number of accounts surpassed five million. The core values of the Rakuten Group, along with the values and principles understood and practiced by Rakuten employees, embody Rakuten Shugi.The two components it consists of are the Brand Concepts and Five Principles for Success.. With Rakuten Shugi as a common foundation, we place high value on the entrepreneurial spirit that drives us to get . Rakutens customer relationship with merchants is primarily of a personal assistance nature; the company offers various forms of personalized support. Lady Lavinia ldt ihre Knstlerfreunde zu einem exklusiven Sommerfest auf Mydworth Manor ein. It is being published with the winner's permission. In non-life insurance services, while insurance premium income has decreased due to continuing measures to optimize insurance underwriting for risk control, operating income increased YoY due to a decrease in net incurred insurance claims driven by loss ratio improvements. If you already possess a Rakuten ID, it is possible to use that same ID when opening a Rakuten Bank account. JD.com has grown to become China's leading online retailer through its ability to simplify shopping experience for everyday consumer. Rakutens mission is to empower people and society through the Internet. Rakuten Bank's convenience store payment service. Taking into account the crucial role that banks play, it is no surprise that the process for opening a new bank is very involved. Does not undertake over-the-counter sales of investment trusts. 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. (This amount comes to US$2,884.62, at 104 yen/US$.) Rakuten Securities has succeeded in attracting investment beginners through a variety of initiatives leveraging the Rakuten Ecosystem. It's employing over 12000+ employees who cater to the needs of 20 million+ consumers. This high-speed improvement cycle is also applied to the bank's services. The best way to get a feel for how value propositions work and how to get them right is to look at some great proposition examples. We strive for the promotion of a society free from discrimination, harassment, child labor, and forced labor. In certain limited areas, as measures are still underway to close public service radio stations, only 5 MHz of bandwidth are available for the service. Identify and assess the benefits delivered by your company and its products or services, along . Rakuten Bank has continued to follow these same strategies for acquiring new customers. Your potential customers will have needs, expectations, and pain points. Rakuten launched full-scale commercial service with the world's first fully virtualized cloud-native Open RAN mobile network. New subscribers due to cross-selling between Rakuten Group insurance companies increased 14-fold since the Comprehensive Insurance Center launched two years ago, contributing to improved financial results. Productivity, Mindfulness, Health, and more. . As a result, it has become easier for Rakuten Bank to cross-sell its products and services. Get "36"" Frightronics Seated Candy Creep Animated Prop" for $824.99 + 2% Cash Back on Oriental Trading Company. As cross-use between Rakuten Mobile and other Rakuten services continues to grow, the Rakuten Ecosystem as a whole is expected to deliver further growth.Due to strategic investment in future growth including the buildout of the Rakuten Mobile service area ahead of plan in the Mobile segment, the Rakuten Group recorded Non-GAAP operating losses of 225.0 billion yen. This was due to an increase in the number of Rakuten Cards issued and growth in online shopping, as well as the impact of pandemic-driven reduced consumption that began in Q2 FY2020 coming full circle this quarter. Its proposition also caters to small businesses, providing them with tools to help them accomplish their business objectives. The bank has remained committed to offering convenient services at a reasonable price, while consistently pursuing the cross-selling of various products and services. Source: Rakuten Research - 13 Feb 2020 Get Things Done people are absolutely committed to reaching their goals. Value Proposition. Rakuten Bank's IT systems have been developed in-house by employees who are knowledgeable about banking operations. In the mobile carrier service, new customer acquisition is progressing steadily, and in line with the end of the one-year-free campaign, the revenue contribution from user mobile fees is gradually increasing. Please check the coverage map for current coverage. In addition, Rakuten Bank offers customers a rewards program named the "Happy Program." At the same time, the bank aims to foster a workforce of employees who have a breadth of knowledge and experience on top of that expertise. This feature increases the customer appeal of the bank's promotional campaigns. The company also promotes its offerings through its social media pages, as well as the hosting of Rakuten-branded conferences and expos twice a year in Japan and once a year at 13 other locations. And help build communities in which people can pursue their dreams and live in happiness. 1. Research by Rakuten Bank. Rakuten Group Q2 FY2021 Financial Results Highlights. While shopping revolving balances and card cashing balances decreased YoY in line with the pandemic-driven decline in credit, an increase in service fee income along with increased Rakuten Card shopping GTV contributed significantly to earnings, resulting in growth in income and profit. Rakuten changes the world through innovation. Join Rakuten for free and get a $10 Welcome Bonus. This initiative is expected to drive growth as travel demand recovers in the future.Ad revenue in FY2021 increased significantly to 157.9 billion yen, up +22.0% YoY, driven by increased sales of online ad placements.In Other Internet Services, revenue was 291.5 billion yen, up +7.2% YoY, and operating income was 33.3 billion yen in FY2021, improving upon the 13.5 billion yen loss of FY2020. RCE has a stable dividend payout ratio ranging from 20%- 40%. Efforts were made to leverage all services, and reach prospective customers without spending much time or money. The impact of the banking industry is clearly visible. As a result, the Insurance business as a whole achieved an increase in profit of +22.0% YoY. Top 100 Digital . It has bought some other . This marks the highest revenue recorded by the Rakuten Group in the second quarter of a fiscal year. Value proposition. To its new customers Rakuten Bank proposes a selection of the Group's new services, taking into account each customer's preferences. Glasses, sunglasses, and contactswe've got your eyes covered.". As a result, conventional banks are unable to compete with online-only banks in terms of price competitiveness. In other words . Nearly all of these various services are accessible from a single smartphone app. Also, over 20 million members have a Rakuten credit card, and they use their Rakuten credit card monthly. Mikitani faced skepticism from his friends and colleagues, who did not believe that many people would buy things over a computer. Rakutens partners include the shipping and logistics companies that help it deliver its products to consumers; the financial institutions that enable it to carry out transactions that occur on the site; and travel associations from whom it receives advice on how to manage the travel portion of the site. Rakuten has a value-driven structure, aiming to provide a premium proposition through significant personal service. An in-house sales team is quite unusual among internet-based banks. * This report was written by Professor Emi Osono of Hitsubashi University Business School, based on: (1) the materials submitted by the winner for Porter Prize screening purposes; (2) interviews conducted by the Porter Prize Organizing Committee; and (3) publicly available information. In May 2021, the number of general securities accounts exceeded six million, reaching 6.24 million accounts at the end of June 2021. The program enables consumers to earn points through shopping (1 point per JPY 100 of purchases) and the use of various services in the websites ecosystem. Rakuten Shugi (Rakuten Basic Principles). As members of Rakuten Group, we comply with all applicable laws and regulations (consumer protection, fair competition, environmental protection, work environment, crime prevention, tax and disclosure requirements, etc. (This excludes the mortgage loan business, as the current industry practice is to require hard-copy documentation.). 10 Best Value Proposition Examples. *2 Comparison of average monthly active users during April to June 2020 versus April to June 2021. Rakutens main channel for merchants is its sales/business development team, through which it acquires most vendors. Revenue from users completing the one-year free campaign is steadily adding more to revenue, and sales from devices are increasing. In the focus area of asset-building services, the number of investment trust accounts has increased significantly to 1.64 million, up +131.3% YoY, and the regular monthly purchase amount has increased to 58.9 billion yen, a tremendous increase of +183.3% YoY. Rakuten Group FY2021 and Q4 FY2021 Financial Results Highlights. Revenue improved for Rakutens sports services in line with the gradual easing of restrictions on professional baseball and soccer league games. Moreover, it offers a phone line for the reporting of such goods. The second basic strategy is to create better services through: (1) the cross-selling of the Group's other businesses and services; and (2) the creation of customized services by combining banking services with other services offered by Group members. This feature contrasts with other multi-sided retail sites that try to have retailers page branding and look mimic that of the host brand. Excludes some tax-exempt businesses, includes consumption tax. Rakuten Bank is an online bank. Moreover, the members of this team continuously undertake service improvements, such as user interface (UI) and user experience (UX), in a precise and speedy manner. *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. 1. Rakuten offers four primary value propositions: customization, cost reduction, risk reduction, and brand/status. With regard to Rakuten Bank's practice of cross-selling banking services to customers, the customer data in the bank's possession (including the customer's attributes, service usage history, and history of online transactions), is divided into segments, taking into account each customer's preferences (gleaned from all types of customer data held by other Rakuten Group companies). 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. A value proposition is a declarative statement that explains why a customer should purchase your product or service. (*2). The bank offers an extensive lineup of financial services, which include ordinary deposits, time deposits, foreign currency deposits, bank deposit transfers, withdrawals, transfers using instant messaging, home loans, credit card loans, and asset management tools. The combined customer base of Rakuten Card, Rakuten Bank and Rakuten Securities grew +89.4% YoY, and cross-use between fintech services continues to increase.In December 2021, Rakuten Card surpassed 25 million cards issued*5. The importance of our mission requires us never to give up. By taking the initiative to prepare thoroughly and execute effectively, and by practicing the Five Principles for Success, we ensure our success. In addition, Rakuten Mobile, Inc. is moving forward to raise funds through sale-and-leaseback and the securitization of mobile service fee receivables. The core values of the Rakuten Group, along with the values and principles understood and practiced by Rakuten employees, embody Rakuten Shugi. Gearing ratio of 1.8x is manageable and lower than its closest peers' average of 4.3x. This internet bank does not have any branches for face-to-face meetings or its own dedicated ATM network. Money Bridge, the service linking Rakuten Securities and Rakuten Bank accounts, surpassed three million accounts and four trillion yen in total balance of deposits in December 2021.In the Insurance business, annualized insurance premiums of new policies increased steadily in FY2021, with new sales of life insurance increasing +15.8% YoY*8 and new sales of general insurance increasing +26.8% YoY*9. Segment income was 107.5 billion yen, 2.7 times higher than FY2020.Domestic e-commerce gross merchandise sales (GMS)*2 for FY2021 exceeded five trillion yen, up +10.4% YoY. We always put ourselves in our customers' shoes and strive to exceed their expectations. The GMS speed of growth is accelerating every year, reaching five trillion yen in record time, just one year after reaching four trillion yen. We're proud to serve our customers and we ceaselessly seek to improve their experience. Domestic e-commerce GMS continued to see major growth in Q2 FY2021, achieving double-digit growth of +12.2% YoY even when compared to the sharp increase in GMS in the same period of last year that was driven by stay-at-home consumption demand amid the COVID-19 pandemic. BustedTees. However, customers need to make withdrawals from their accounts. Research: Stella Associa. 1. The next few years saw significant expansion. The latest insights and news about Rakuten innovation and entrepreneurship. However, looking at these three consumer benefits, we can say that Amazon's greatest value proposition is convenience because the audience understands that, with just the help of a device connected to the internet, . (3) Cross-selling by utilizing both the bank's data and the Rakuten Group's data, and through the promotion of Group companies' services to the bank's customers. Brand Concepts represent values that we aim to realize through the businesses and other activities of Rakuten Group. This gives employees the chance to speak directly with customers. Sign up today for an additional $10 bonus. The trading value of domestic and overseas stocks has remained at a high level, commission earnings increased YoY, and financial revenue increased due to growth in margin transaction balance, leading to strong growth of +19.4% YoY in operating revenue. This facilitates the creation of an environment that allows for a diversity of opinions and perspectives among the bank's employees. However, he forged ahead, and launched eCommerce company MDM in 1997 with a staff of six. For example, it becomes possible to design services that precisely meet customer needs and to create new high-quality services in a very short time. The bank takes a different approach when dealing with its corporate customers. 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. *4 Number of overnight guests multiplied by number of nights stayed. Thus, Rakuten Bank's first basic strategy is to grow its business through new customer acquisition, specifically by leveraging the customer base of other Rakuten Group companies. These coupons are available for use in more than 200 municipalities, and the number of users is expanding. Thus, it is possible to move seamlessly to the Rakuten Bank app's "Viber Money Transfer" option from the Viber chat site, enabling money transfers to be conducted smoothly. Furthermore, the bank promotes all types of banking services to its existing customers, as well as services offered by other Group members, in a type of "cross-selling." The bank was also able to very efficiently acquire new customers from among the existing customers of other Rakuten Group companies. Rakuten Bank's in-house IT systems development team has full knowledge of banking operations, and is able to quickly make changes and improvements. Vice Chairman and Representative Director, President of Rakuten Credit, Chief Information Officer and Executive VP, Innovators, Tech enthusiasts, Data Geeks, and people that want to change the world for the better. It clearly explains what differentiates you, or makes your offering "unique," and why you are the best choice on the market. In particular, personnel transfers are assigned taking into account the development of the individual's potential. With regard to all of the bank's campaigns, Rakuten points can be used. Advertising Fees Revenue generated from the fees the company charges to third parties for advertising their offerings on the site. Rakuten Bank merely refers interested customers to the Rakuten Group affiliate Rakuten Securities, which provides customers with investment trust services and also arranges for stock purchases. By providing high-quality services that help our users and partners grow, we aim to advance and enrich society. Revenue recorded from telco platform business Rakuten Symphony also contributed to this result. We respect human rights of all and uphold individual dignity. Rakuten Group has an unswerving commitment to building an egalitarian society by empowering individuals and companies to be successful in business and in life. The following are the four main strategic themes at Rakuten Bank: (1) Swiftly expanding Rakuten Bank's customer base by leveraging the Rakuten Group's customer base to accurately identify prospective new customers and offer them a variety of customized services that precisely meet their needs. *5 Includes the number of second Rakuten Cards issued to Rakuten cardholders, which began full scale in June 2021. . Best Effort people are satisfied with the status quo; when they fail, they console themselves by saying "I did my best." Since its participation in the SPU program, the bank's acquisition of new customers has risen dramatically. By committing to a more reasonable fee structure, Rakuten Bank has adopted a stance that is more acceptable to customers. Next, summarize your points in a clear, concise value proposition. Rakuten Bank, however, charged a flat rate of 300,000 yen (excluding tax) on home loans in November 2020. Continuing the example above, Warby Parker's value proposition, as published on its home page, is: "Buying eyewear should leave you happy and good-looking, with money in your pocket. An in-house team of knowledgeable IT systems developers makes it possible to provide these services in a speedy manner. The company also depends on human resources in the form of its technology staff to maintain and update the platform, customer service staff for support, and training staff for merchant instruction. A structured search through millions of jobs. 6. Though we have an important mission, unless we succeed in business we won't be able to contribute to society. The employees of Rakuten Group form one big team. Di. In 2003 it began operations overseas by acquiring many firms, including U.S.-based LinkShare Corporation. The company reduces risk through its strong vetting of potential merchants. Found My Animal. (Later, Japan Net Bank became a subsidiary of Z Financial Corporation, which is a subsidiary of Z Holdings Corporation. In addition, global gross transaction value (GTV) was 26.9 trillion yen, up +20.5% YoY. This statement convinces a potential consumer . The Rakuten Group forms a type of robust ecosystem. Consolidated revenue achieved double-digit growth, up +15.5% year-on-year (YoY), totaling 1.68 trillion yen. By working with local communities and nurturing a robust corporate culture enabling each member of our diverse team to perform at their best, the Rakuten Group is committed to boosting corporate value and contributing to progress in society. A message from Hiroshi Mikitani, Chairman and CEO of Rakuten Group, Inc. With enough determination and effortby being a Get Things Done personyou can achieve anything. BustedTees uses "BustedTees brings you the highest quality graphic tees on the net" as its homepage value proposition. At the same time, due to strategic investment in future growth such as the accelerated buildout of 4G base station installations in the Mobile . Examples include Japan Net Bank, which has obtained a standard banking license. Mailchimp. Customers can log into the Rakuten Bank app without a login password by using fingerprint authentication. Step 1 - Marketing Research & Analysis. Relative to the end of March 2026 (FY2025) target for 96% 4G population coverage outlined in the fourth generation mobile communications system (4G) special base station deployment plan (1.7 GHz) approved in April 2018 by the Japanese Ministry of Internal Affairs and Communications (MIC), Rakuten Mobile achieved this target approximately four years ahead of schedule.The Mobile segment recorded revenue of 227.5 billion yen in FY2021, a significant increase of +31.9% YoY. Customers in a "high stage" are allocated a larger number of Rakuten points. Another success story was Rakuten Bank's participation in the SPU program (Rakuten Ichiba's Super Point Up Program) in July 2018. Read "The Retail Value Proposition Crafting Unique Experiences at Compelling Prices" by Kyle Murray available from Rakuten Kobo. The ability to send customers to other companies reflects: (1) the customers' trust in Rakuten Bank; and (2) the positive impact of various campaigns in which Rakuten points can be used. In the case of the social media network payment service "Viber," the Rakuten Bank app and the Viber app are connected by a deep link. The company enables customization by allowing merchants to design their pages on the website so they can showcase their stores originality. . Over-the-counter sales of investment trusts are a major source of revenue for many banks. At the same time, we are acutely aware of the value of the information we hold both that of Rakuten Group and of our users and are committed to using and managing such information appropriately and responsibly. This means that we respect fair competition, and always seek to provide clear and accurate information to our users. Some banks will charge customers 2% of the loan amount as an administrative fee. After opening, the bank must ensure that it can secure sufficient capital. ); the deposit and withdrawal of money (at affiliated ATMs); asset management apps (Money Support); and payments for Takurakuji and BIG lottery tickets, Toto (J-league soccer pools), and public race tracks, etc. This five-letter word has been overused and abused . Building on our core business, we will cooperate with customers, business partners, and other stakeholders to tackle challenges facing society and contribute to a sustainable future. Rakuten Bank makes direct sales calls, speaking face-to-face with the management. Examples of strong value propositions. Consequently, it is the largest-scale rewards program in Japan's banking industry. The ability to offer banking services in combination with other services makes it possible for Rakuten Bank to further enhance customer convenience. Going forward, this is expected to contribute to increased Average Revenue Per User (ARPU) and lifetime value. The Rakuten Group recorded revenue of 402,158 million yen for Q2 FY2021, up +15.8% year-on-year (YoY), and continues to deliver strong growth. Rakuten Bank is an internet bank that does not maintain branches for face-to-face consultations or its own dedicated ATM network. When circumstances change, we adjust our plans so that we still accomplish our goals. Rakuten's legacy ecommerce business is ex-growth, and its non-financial services business generates very limited shareholder value. This has made Rakuten Group services more easily accessible to Rakuten Bank's customers, and has strengthened customer loyalty toward the Rakuten Group. info: Masayuki previously served as Executive Vice President of Rakuten. Enable Accessibility Skip to content. Rakuten Shugi (Rakuten Basic Principles) The core values of the Rakuten Group, along with the values and principles understood and practiced by Rakuten employees, embody Rakuten Shugi. Normally, among an online bank's smartphone applications there is a dedicated app for opening up a new account, and a dedicated app for showing the account balance. Rakuten Native needs to choose whether it wants to implement a distribution system which is - Direct, Indirect, or Both. You needtohave JavaScript enabledin your browser toaccess thefull functionality and content of this website.To do so, please follow the instructions. The same year the firm went public and got listed on what is now known as the JASDAQ. At the same time, due to strategic investment in future growth such as the accelerated buildout of 4G base station installations in the Mobile segment that is about five years ahead of schedule compared to the plan submitted to the Ministry of Internal Affairs and Communications, the Rakuten Group recorded Non-GAAP operating losses of 59,539 million yen, compared to Non-GAAP operating losses of 32,587 million yen in the same period of the previous fiscal year, and Rakuten Mobile achieved 90% population coverage for 4G as of the end of June 2021. Rakuten awards the best-performing retailer Rakuten Shop of the Year (SOY), an award that involves travel abroad with company representatives to study industry trends in other locations. This achievement was followed by many major milestones. Japan Net Bank plans to change its name to PayPay Bank in April 2021.). In addition, Rakuten conducts daily checks to remove items that are non-compliant. A money transfer service that does not require the payee's account number. *5 Ministry of Economy, Trade and Industry, Specified Service Industry Statistics Survey and Credit Card Industry. For customers, the usability of these points represents significant value. Logically, the administrative costs are supposed to be the same regardless of the amount borrowed. Get Zombie Cracking Crypt Prop for $524.99 + 2% Cash Back on Oriental Trading Company. Beyond these features, the company ensures payment security and provides settlement options. In order to help both consumers and business owners maximize the opportunities afforded to them by the internet, we also strive to act with fairness in every aspect of our business activities. Moreover, the ability to accrue Rakuten points has the effect of reducing the actual cost of banking services for users and reinforces their sense that they are getting a bargain. (*3) It was designed to improve customer convenience and increase new customer acquisition. Customers utilize the website while having limited interaction with employees. In addition, as new customer acquisition is progressing steadily, the revenue contribution from user mobile fees is gradually increasing in line with the end of the one-year-free campaign, and future improvements in revenue are expected. The internet makes the window of opportunity for every small business. Why Rakuten is an ICG Certified Case Study 2 Context Rakuten business model Global market (peers and substitutes) 3 Detailed Description Rakuten value proposition 3 Relevant Media Media coverage and relevant quotes Case studies and detailed interviews 4 Marketing Collateral and Brochure ware

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