“Double 11” ten years inciting a new pattern Whose carnival, who’s rivers and lakes

2018-10-30 0 Comments 31 Views 0 Thumb

■ This year is the tenth year of “Double 11”. From the transaction volume of 52 million yuan in 2009 to the transaction volume of 168.2 billion yuan in 2017, the explosive growth of sales is behind the outbreak of the commercial potential of the entire Chinese society.

■ In the face of the upcoming “Double 11”, the giants are gearing up. For merchants and buyers, the benefits of “Double 11” are real. In the face of this carnival shopping festival, how the veteran giants are seeking new changes. What are the new flavors of this year’s “Double 11” feast, we have conducted some explorations.

■ From the “Double 11” gameplay of e-commerce giants this year, this festival is no longer a simple price-cutting promotion. It has become a platform-wide battle for major companies, testing the comprehensive capabilities of a company to build a business ecosystem.

■ With the volume of transactions in the past decade, “Double 11” has also brought about continuous innovation in technology. From this perspective, today's e-commerce giants in China are also hoping to grow into a great company like Amazon. Who will win in the competition? The "Double 11" campaign has a unique effect on this

"Investor News" reporter Wu Yue

Since the birth of the "Double 11" "Festival", it is already the tenth year.

From the Taobao Mall (Tmall Predecessor) in 2009, the “Single Day”, which is slightly ridiculous, was launched to buy and buy real-life promotions. In the following years, the shopping festival of China’s land was swept. In the last two years, this boom Even spread overseas, it has become a global shopping carnival with influence no less than the "Black Friday" in the European and American markets.

At present, the "Double 11" is approaching, and the merchants of various roads have already made great efforts. The commercial, payment, logistics and service industries have entered the state of "preparing for war". As Alibaba CEO Zhang Yong said, today's "Double 11" is not only a holiday of a website, but a national commercial tour, an "Olympic" of a commercial war.

Standing at the beginning of the new decade, "Investor News" launched a special plan to take stock of the evolution path of electric commerce. At the same time, by analyzing the business logic of the rise of new forces, we will look forward to the changing trend of new consumption patterns for investors' reference.

Old-fashioned e-commerce giants seek new changes

This year is the tenth year of “Double 11”. From the transaction volume of 52 million yuan in 2009 to the transaction volume of 168.2 billion yuan in 2017, the explosive growth of sales is behind the outbreak of commercial potential in the entire Chinese society. "Double 11" has thus become the biggest festival of Alibaba every year.

As the pioneer of “Double 11”, Alibaba has started the 2018 “Tmall 'Double 11' Shopping Carnival” held in Beijing on October 19th, and the “2018 Tmall Trends Festival” on October 20 has started. This year's "Double 11" warm-up momentum. This year's Tmall "Double 11" also launched the "Double 11" Partner program for the first time - consumers can use the APP of Ali to accumulate energy values ​​in exchange for Tmall shopping red packets.

“This year there will be more than 800 counties in 29 provinces, and hundreds of millions of rural consumers will participate in Tmall 'Double 11' through the rural Taobao team this year. Similarly, for retail outlets, more than 200,000 small The store will also fully participate in this year's Tmall 'Double 11'. It has not yet included many Tmall stores, and they will also participate in the operation of Retail Connect, which is about the entire low-line market." Tmall president Jing Jie publicly stated. In addition, in the "Double 11" in 2018, Tmall will showcase "five globals" for the first time - "global buy, global sell, global transport, global payment, global travel", and strive to make the consumer experience fully upgraded.

For the business who do business on Tmall, the benefits of “Double 11” are also real. For example, in the cotton era, 2011 participated in the “Double 11” promotion, with sales of about 1.51 million yuan. A number has reached 406 million yuan.

Another e-commerce giant Jingdong also put on the "double 11" posture of the war, this time their breakthrough point is to consolidate the logistics advantage.

At the 2018 Global Intelligent Logistics Summit, Jingdong Logistics released the first six product systems covering Jingdong Supply Chain, Jingdong Express, Jingdong Cold Chain, Jingdong Express, Jingdong Cross-border and Jingdong Yuncang to strengthen Jingdong's competition. Logistics advantages.

This year's Jingdong's “Double 11” event continued the theme of last year – “Global Good Things Festival”. From October 20th to November 15th, the 27-day ultra-long-term promotion also created the most history.

In addition to the basic offers, JD.com has launched a variety of promotional forms such as spikes, vouchers, full reductions, and purchases, as well as exclusive rights for specific groups of people. In addition, JD.com also launched the new gameplay “Top No.”, which was launched on October 22nd. During the “Double 11” period, it will issue 50 million no-gate “King Post”. When it is received, it can be used as “cash” when placing an order. Direct deduction.

Jingdong Finance also joined the big camp. Jingdong Baitiao and Jingdong Payment will adopt direct reduction, full reduction, interest-free, etc., and users can receive welfare coupons such as payment reduction and white reduction. In order to maximize the enthusiasm of consumers for shopping.

The response of the old retail giants

After the earliest batch of Internet companies in China, after more than 20 years of rapid development, those "big brothers" have already parted ways, and the old retail giants represented by Suning have adopted the "online + offline" layout in recent years and will extend their reach. In the fields of finance, logistics, and culture, it is transforming into a new consumer giant.

In recent years, Suning has gradually shown an increasingly strong sense of existence on the "Double 11" stage. On October 17, Suning held the "Double 11" kick-off meeting in the southwest, south China, and East China districts, and launched the first shot of this year's "Double 11 War."

Suning Tesco (11.550, 0.03, 0.26%) proposed a 30-day high price for no reason to return, 30 days for return, 365 days for replacement; express delivery for half-day delivery, delivery on the same day, and delivery the next day. From October 20th to November 12th, 2018, Suning Tesco launched the “National Carnival”, which is mainly engaged in online and offline omni-channel and eight industry linkages. Suning Tesco will have nearly 10,000 full-scale stores across the country to participate in this large-scale event.

In terms of direct subsidies, Suning Tesco launched the “Double 11 Preemptive Purchase” campaign, which launched a multi-campaign and full-site “shopping subsidy” that can be collected and used online and offline. Consumers can watch APP and PP videos in Suning. Programs, PP sports watching games, Suning financial recharge payment, offline scanning code, etc. can be received.

But not every offline retail giant can continue to be as brilliant as Suning. In recent years, in response to the impact of the e-commerce industry on the traditional retail industry, traditional Chinese companies such as Xinhuadu (6.010, 0.00, 0.00%) and Sanjiang Shopping (12.260, 0.07, 0.57%) have cooperated with Ali, JD and Tencent. The way to strengthen online power, but at least in terms of performance, the effectiveness of this cooperation remains to be seen.

According to the semi-annual report of 2018, Fujian Xinhuadu achieved operating income of 3.427 billion yuan, a year-on-year increase of 0.3%; net profit attributable to shareholders of listed companies was 7.015 million yuan, down 83.23% year-on-year.

In addition, Sanjiang Shopping, one of the largest supermarket chains in Zhejiang, had an operating income of 2.077 billion yuan, a year-on-year increase of 7.91%; net profit attributable to mothers was 57 million yuan, a year-on-year decrease of 13.81%; net profit attributable to deducting mothers was 0.44 billion yuan, a year-on-year decrease. 22.25%.

It can be seen from this data that the revenues of Sanjiang Shopping and Xinhuadu are basically the same as that of the same period of last year, but the net interest rates are all down year-on-year. Although they have not included statistics of other supermarkets, they can see the traditional supermarkets. status. After working with Internet giants such as Ali, Tencent and JD.com, the cost of transformation and innovation will affect the company's performance to varying degrees.

The ups and downs of performance may be the pain that the transformation must face. In this regard, Suning Financial Research Institute special researcher, China Internet Association young expert Xiang Yuanzhi told the "Investor News" reporter that the traditional business super cooperation with the Internet giants still has some results, mainly because the transformation must be determined, cooperation must Expand at a deeper level.

Fighting a lot, "filling up the gap"

Since the beginning of this year, as the US group, the company and many other companies have been listed overseas, a new Internet consumer power is quietly rising, they are quietly changing the pattern of large consumption.

Relative to Tmall, Jingdong, Suning's fanfare, the "double 11" is a very low-key, except for the "Double 11 Carnival" in the APP icon, there are no other activities.

Speaking of the rise of such companies, Xiang Yuan pointed out that these companies have been able to spur a bloody road from fierce competition, mainly to find out the market demand that some giants can not reach, and these demand giants have to touch and compare difficult.

For example, in the case of the fight, the academic director of the product module of the University of Lakeside, Bai Ning Group consultant Liang Ning once analyzed that it is the four big bonus boards that have propped up a lot. The first is the overflow of Taobao's business; the second is the cost-effective return to Tmall; the third is the 36-line Internet access; the fourth is the WeChat bonus. "We must do business first and then buy, how to get a large number of businesses in the bulk? In fact, Ali Mayun did a Chinese e-commerce science work, so that many of the Internet e-commerce has no concept, do not understand People, let them participate in the online.

But today, when it comes to building more and more established businesses, it does not need such a difficult literacy process. These people have been swept by Ali and the US group for countless times.

The “36 line” here refers to the third- and fourth-tier cities and the rural market. After the consumption potential of the first- and second-tier cities has been explored by rounds of merchants of various types and formats, more and more market participants It is believed that the release of consumption potential in third- and fourth-tier cities and rural markets may be the next dividend market for commercial retail.

In addition, the demand for various types of life services such as take-out, cleaning and other forms of market segmentation, the US group, hungry, etc. is to dig deep into the needs of this segment, and with the spread of mobile Internet, mobile payment Rapidly form a scale.

The Enlightenment of "Trillion" Market Value Amazon

Judging from the "Double 11" gameplay of e-commerce giants this year, this festival has not been a simple price-cutting promotion, but has become a platform-wide battle for major companies. It is a comprehensive analysis of a company's business ecosystem. ability.

In this regard, Amazon is a global benchmarking company that once had a market value of more than one trillion dollars this year. Since October, although the US stock market plummeted, Amazon's market value has also declined, but its optimism for US stock investors has inevitably had its own uniqueness.

So, what are the implications of the development of Amazon for Chinese companies?

Xiang Yuanzhi's "Investor News" reporter analysis that Amazon's success is mainly based on long-term investment and consistency of user experience. When Amazon founder Jeff Bezos published his earnings report every year, he also kept an eye on Amazon's "initial heart."

Relentlessly focus on customers. Focus on becoming a long-term market leader rather than short-term profitability or market response. Projects that constantly measure investment and eliminate projects with poor returns leave only the best performance. Boldly investing in projects that give us the advantage of a market leader, some projects are successful and some are not necessarily, which is a valuable lesson for us. If faced with the choice between optimizing the report and maximizing future cash flow, we choose the latter. When we make bold choices, we will share with you the steps of our strategic thinking so that you can assess whether this is a rational long-term investment. In an effort to maintain a lean culture, we understand the importance of cost savings, especially in the very easy net loss of this line. We continue to recruit generalists and geniuses, and use equity rather than cash to measure their competitiveness. We understand the importance of talent and must make them aware of their ownership.

Of course, many companies have a set of rhetoric about corporate culture or vision. What is commendable is that they do what they say. In fact, Amazon has also had a "dark moment". From 1999 to 2000, the US stock market began the period of the famous bubble of the Internet stocks. Many Internet companies even had a price drop of more than 90%. Amazon's share price also fell from the highest of 113 dollars to 6 dollars in 2002, a drop of more than 95%.

But during this period, Amazon made a series of innovations, laying a solid foundation for the second rise.

In November 2000, Amazon launched the Marketplace service, turning itself from an online bookstore into a full-platform e-commerce. A more important step was that in 2003 the company signed a number of publishers and then began publishing e-books with their own copyrights, from an offline bookstore replacement to a publisher replacement.

In February 2005, Amazon launched the Prime membership service that is influential today; in 2006, Amazon launched the AWS cloud service business. In 2007, the launch of the Kindle enabled Amazon to implement a business model that combines software and hardware. Software is the soul of its content, and hardware is used as a carrier and channel. This model of hardware and software integration has now been emulated by many companies, but it was groundbreaking at the time.

It can be seen that it is the constant innovation that has brought Amazon's continuous growth, and this innovation is not blindly trial and error, but always based on the pursuit of long-term cash flow returns.

Just like the “Double 11” that started in China, it is also an innovation, firstly based on maximizing the sale of goods (returning cash), and then with the continuous flow of transactions over the past decade, “Double 11” also brought The continuous innovation of technology, such as coping with the increasingly large sales data processing, payment systems and other related links, the technical system of each merchant in this decade can be said to constantly refresh the upper limit.

From this perspective, China's online and offline giants may also hope to grow into a great company like Amazon. Who will win in this competition? Every year, the "Double 11" campaign has a special effect on this, let us wait and see!

editor-in-chief

Focus on China's socialist market economy.

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