Jingdong Zai** Suning Yunchang

Jingdong Mall just exposed the completion of the fourth round of financing of US$700 million. Suning immediately disclosed Zhang Jindong’s open statement on the internal formula. Around the US$700 million in Jingdong, where Wu Shi and Zhang Jindong’s “cloud merchants” are new positionings, they have triggered repeated guesses in the industry. It can be said that the start of the Spring Festival, there is no more lively scene than the electricity supplier industry.

On the 17th, an online email from Liu Qiangdong circulated on the Internet. Liu Qiangdong said that disputes in the future will inevitably be a platform dispute. JD does not want to be an e-commerce company. Jingdong will gradually open its web, logistics, and information systems. Layout financial business. In Zhang Jindong’s speech, he mentioned that Suning was to be a store dealer + e-commerce + retail service provider, that is, to promote China's retail cloud business model. Suning's executive vice president of Tesco explained in Weibo that the cloud business model means that Suning's business platform is open and the target is the whole society.

One thing is certain: In the e-commerce competition, JD.com and Suning, two companies that are autonomous vertical e-commerce, have begun to become more open and platform-oriented, which is consistent with Tmall as a pure platform e-commerce. However, the foundations of JD.com, Suning and Tmall are different. How do we view the difference in the current model of the three home appliance suppliers? When new actions and new strategies are released, what kind of pattern will the e-commerce competition show in 2013?

The essence of the three major e-commerce model

Behind the platform, the three major e-commerce companies have fundamental differences. Industry economic analyst Liang Zhenpeng pointed out to the reporters of the China National Grid that the first two companies, Suning’s subsidiary Yishan and Jingdong Mall’s purchases, sales, logistics and distribution, and after-sales investments, determined that they needed continuous blood transfusions. This is why Jingdong’s continued financing The difference is that Suning Tesco has the financial support of Suning listed companies, physical store warehousing logistics and other functional support, while Jingdong can only rely on venture capital. After a Tmall is a completely open platform, it only receives a very low commission for rent.

Three typical large e-commerce companies have finally confirmed one point in the contests in recent years: Platform-based e-commerce is profitable, and autonomous vertical e-commerce is still losing money. “Every independent vertical e-commerce has not found a sustainable business model.” Liang Zhenpeng said that both Jingdong and Suning had abandoned the open platform at the beginning, but since 2012, the two companies have started to make platforms open.

2012 has become a year of rapid development of e-commerce, according to various data released in January this year, Tmall Electric City 2012 annual turnover of 50.2 billion yuan, an increase of 150%. Jingdong Mall's platform turnover in 2012 exceeded 60 billion. Suning's total sales in 2012 were 18.336 billion yuan.

A person familiar with the matter disclosed to China National Grid that only Tmall is profitable, it does not require marketing, and the cost is very low, with a gross margin of 30%. As for the reason why autonomous e-commerce has not been profitable, Liang Zhenpeng pointed out that "it is because prices are too transparent."

When e-commerce attracts eyeballs to increase its share by price wars, it will also lose too much blood. Suning’s “Zero Buy” launched last year consumes more, and Jingdong’s behavior during the “815” price war last year Did not dare to move true. "Online price war can't be compared with offline, no matter how to promote sales under the line, most of the goods can also guarantee reasonable profit space," Liang Zhenpeng analyzed.

For the competition of Tmall, JD.com and Suning, Forbes China.com's editor Zhou Jiangong pointed out that "Actually, Taobao/Tmall, Jingdong and Suning may represent three different modes of China's future (trading) and retail trade: trading platform type , e-commerce platform, shop operators / e-commerce.

The essence of e-commerce is retail

Before the Spring Festival, it was reported that Suning Tesco would start a large-scale structural adjustment. Suning would usher in a larger-scale and comprehensive organizational reform. Suning might enter the era of comprehensive e-commerce. Some analysts pointed out that the most direct manifestation of this change is likely to be: Suning Tesco removes the word “e-commerce,” and Suning will no longer have the difference between e-commerce and traditional store models. Suning will not divide the line between online and offline. , Become a big e-commerce concept, Suning will be through the online and offline linkage to the O2O era.

In Zhang Jindong’s speech, he did not mention the word “e-commerce” and proposed the “cloud merchant” concept. On the evening of (19) yesterday, Suning Appliance announced that Suning planned to change the name of the company to “Suning Yunshang Group Co., Ltd.”, proclaiming the official launch of the new model of Suning’s “cloud merchant”, and also for the next adjustment. Prologue.

In his speech before Zhang Jindong, he proposed: “The development of e-commerce should be led by the retail companies themselves, rather than by the e-commerce service providers.” This indirectly emphasizes that the e-commerce is essentially retail. "This idea.

Zhou Jiangong believes that in the future, Suning will still be based on “store business”, but the gameplay has completely changed. Whether online or offline, it is a means to provide customers with the best retail services.

For the future development of e-commerce, Liang Zhenpeng believes that it will be the same as the traditional retail industry's development trajectory, and eventually e-commerce will be the mainstream of online and offline collaboration will become the mainstream, "Tmall is more suitable for the early development of e-commerce model, Jingdong this pure Internet e-commerce shows the terminal wirelessly."

Zhou Jiangong believes that the Chinese market is huge and diverse, and it is impossible to monopolize the world in a single model. From the perspective of the United States, traditional retail still dominates, Amazon can not subvert Wal-Mart, and online trading is also seeking to open stores, Suning chose not to give up its founding of the "shop", but this does not mean that does not require a Self-revolution.

Who's Who in 2013?

Liu Qiangdong said during the internal development before the Spring Festival that Jingdong ironcladly made a profit at the end of 2013. Suning also said that this year will be the turning point of its e-commerce profits. When Gome released a new strategy for the next three years in December last year, Gome Senior Vice President Geng Guixian also proposed The e-commerce business profitability timetable is “at least half a year or as long as one year to realize e-commerce profitability”.

In 2013, whoever was able to “surprise”, Dingcang CEO Li Guoqing, who was in an electricity business disorder, speculated that “My observation is that by the middle of 2013, a group of people will die. Trumpet, then there will be big guys falling down."

Li Guoqing is not an alarmist. The premise for him to make such judgments is that in 2012, the result of e-commerce collective warfare led to the transition of all e-commerce companies, and the over-inflated companies had too late to brake.

As for the judgment of who can “invent,” Liang Zhenpeng told reporters that the e-commerce companies that want to achieve profitability in 2013 need to pay a price. If anyone says they want to make profits, the only measure is to reduce the price war, which will appeal to consumers. Lowering will inevitably mean selling market share. Take Jingdong as an example. In 2012, the turnover of this enterprise platform exceeded 60 billion yuan. If we want to continue to maintain high growth in 2013, we must also pass a price war, but we will also pay a price, not to mention profit.

Li Guoqing believes that “2013 will also be the winter of capital. There will be a big e-commerce failure, there will be mergers and acquisitions and restructuring, then the market will re-board the seats, on the honor and disgrace.”