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Jingdong'S Five Major Stumbling Blocks In The Future

2014/6/22 21:25:00 59

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May 22nd < a href= "http://www.91se91.com/news/index_s.asp" > Jingdong < /a > went to the United States, the market value of 24 billion 600 million US dollars, raising funds 1 billion 780 million US dollars, really for the domestic electricity supplier hit a chicken blood.

June coincides with Jingdong celebrates. Jingdong's red packets are like dandruff floating around WeChat's circle of friends.

In short, the development of Jingdong both at home and abroad is a great applause.

forecast that a 40% increase in the market since then has also cheered the company.

Advantages, we have already said more clearly, the leadership of milk tea elder brother, company logistics strategy, virtual operators and Internet financial business foresight, all is good news.

BUT, door brother is always a stingy person to praise. Through further analysis of Jingdong's IPO application and financial information, she found some interesting facts, which is a good laugh to all of you.

from the upstream and downstream supply chain link analysis, Jingdong may exist in the future development bottlenecks or problems:

(1) return 2 billion 400 million, purchasing efficiency on behalf of

in the IPO application materials, Jingdong referred to the total < a href= "http://www.91se91.com" > paction < /a > amount and net paction volume (after deducting the amount of paction after refund).

The most recent refund amount is US $2 billion 400 million, accounting for 22% of the net paction volume.

Since the return of the third party business is difficult to track, we can assume that all returns are from proprietary business.

This proportion is quite high, especially for consumer electronics products.

Moreover, if the third party sellers return the goods (Jingdong's proprietary business now accounts for 71%, the third party seller's return ratio will generally be higher than Jingdong's proprietary business), which may be even more impressive.

The return rate of 22% is really not optimistic. What's wrong with it? Door brother believes that the fundamental problem involved should be the lack of purchasing power (we first default that Jingdong's fake is not as much as a treasure).

There are mainly two types of home appliances purchase channels in Jingdong Mall: one is to get goods from the home appliance brand dealers and agents, and the other is to purchase goods directly from factories.

Because of the high unit price of consumer electronics, consumers are very concerned about the Jingdong's picking channels.

The following screenshots are taken directly from the website of Jingdong mall. From this we can see that the Jingdong mall has taken an evasive attitude towards consumers' questions about the picking up channels.

After all, cooperation with domestic and foreign manufacturers is not an overnight move. Jingdong's "global direct sourcing" has huge potential risks.

In short, compared with the traditional retail giants such as suning.com, the supply and procurement platform of Jingdong mall lacks strong support from the supply chain system.

(two) it is difficult to expand the category and take the Dangdang network.

since 2010, Jingdong has declared that it wants to "pform from 3C network retailers to comprehensive online retailers".

In speech, milk tea elder brother is also willing to describe Jingdong as a low profit platform that is building a wide range of products and stores.

But over the past three years, it still failed to achieve this goal: 85% of Jingdong revenues still come from consumer electronics.

For those categories that have only recently entered the past two years, such as home appliances, daily necessities and books, Jingdong has not had much advantage and voice in the face of suppliers, not only a lack of price advantage, but also a shortage of goods.

This can not help but let the door elder brother think of Dangdang.

Dangdang, which was listed in the US at the end of 2010, sold only books at IPO, and promised to go forward in various fields and sell various products to Chinese consumers in the future.

Now, what we can see is the reality of bone.

One of the more serious problems of P is that Jingdong, a consumer electronics business, is mostly male. (ask: how many girls are there on the street with Jingdong wrinkled plastic bags?)

Selling computers and selling women's underwear is completely different.

Jingdong's experience in selling consumer electronics products should be pferred to < a target= "_blank" href= "http://www.91se91.com/" > clothing < /a > makeup, home decoration and other fields.

Of course, milk tea elder brother may say, I do not sell underwear, I let POP find third party sellers to sell.

Can you? Yes, but how to find and choose the seller? Without saying that Jingdong's business experience lacks this problem, even if it is for many brands of non consumer electronics, is Jingdong a sufficiently attractive channel?

(three) the commodity is not false: the trouble of juvenile Jingdong is /p >

jumei.com is listed. Many two level market people Tucao said that the fake mall can also run rampant. After all, it is unreasonable to enjoy high gross profit in the highly competitive cosmetics industry.

the same problem, although smaller, Jingdong also needs to face up and turn over the history. In 2011, the new Acer computer contains pornographic video. In 2012, the CCTV network TV station exposed the "thinking skin", Jingdong's 10th anniversary "Keyan", refurbished mobile phones, refurbished iPod, and then suspected of selling fake and shoddy products by the Guangdong provincial council for reprimand.

The most interesting thing is that the most aggressive gun against Jingdong is jumei.com senior vice president Liu Huipu.

The fact that with these fruits is simply "Jingdong refuses to admit" from employees to bosses.

For example, in 2012, a consumer bought a 3TB hard disk produced by 80G 5 years ago. After receiving the reply from the Jingdong to prove that the product is defective, it must have contacted the manufacturer before it was identified. After that, Jingdong still said "only returns, no apologies".

The consumer specific species brought the Jingdong to court.

In court, the Jingdong voluntarily requested mediation, but still agreed to pay double purchase money, refused to give a written apology document, and raised the question of "hard disk not sold by Jingdong" at the two session.

door brother feels that selling a holiday is not a problem of "being punished for its sin", nor does it want to be too critical.

It is not because the domestic electricity supplier "family selling", but the electricity supplier has no right to speak in the initial stage of development. At the same time, in the process of selecting suppliers and third party sellers, there must be loopholes in the penetration of fake commodities.

Jingdong will face more and more challenges of selling and selling in the process of developing POP platform. How to improve the self support system and build a third party seller's examination and supervision system while expanding rapidly.

(four) < a href= "http://www.91se91.com/news/index_s.asp" > Logistics < /a > challenge /p >

as early as 2009, Jingdong invested 20 million yuan to establish its own express company. After that, it built a more than 200 thousand square meter (8 bird's Nest) "Asia 1" in Shanghai.

Self built warehousing and logistics has always been a great move for Jingdong, and has indeed brought a smooth logistics experience to consumers.

But what will happen in the future?

first, the labor cost of Jingdong logistics system accounts for 70%.

When he talked about this problem, he was quite complacent: "we raised wages for the courier this year. We hope our courier income is 30% higher than that of the market."

At the same time, we also provide accommodation, providing < a target= "_blank" href= "http://www.91se91.com/" > shoes < /a > hat, gloves and other work clothes.

Here we will not discuss the wages of Jingdong couriers, we ask: in addition to wages, what are the reasons for higher labor costs? It is very likely that Jingdong logistics system has not yet been very intelligent. Currently, Jingdong's biggest investment is in logistics and research and development. "The company spends about 70%~80% per year in this area", which also reflects the concerns of Jingdong in terms of its logistics system efficiency.

secondly, if you want to be a Jingdong of integrated electricity supplier, it is bound to start expanding SKU (stock unit).

For a start-up e-commerce enterprise, the standardized SKU of consumer electronics is easier to achieve.

When it comes to the field of clothing, 3 sizes and 5 colors mean 15 new SKU.

If the coverage of other commodities is covered, the number of SKU will need to be doubled.

Jingdong has always been dealing with standard consumer electronics businesses, and will inevitably encounter setbacks in the pformation of integrated products. In the short term, profitability will also be hit.

(five) the organizational expansion is fast and the enterprise value is missing.

Liu Qiangdong P self reflection at the Entrepreneur Club seminar at the beginning of the year: "the biggest risk of an enterprise is large, and I think it is from the founder.

Jingdong is strategically dictatorial, and whether our strategy can arrive in time, or that strategic errors can lead to failure, I think this is the biggest risk. "

The interview experience of a reporter like P also verifies this point -- Jingdong has a large gap in terms of corporate culture and values.

When we interviewed a senior executive about "values", he knew nothing about it. So he turned to ask the assistant, and the assistant did not give the answer.

This contrasts sharply with Alibaba's admiration for values like sky reverence and the fact that tens of thousands of employees can almost turn their heads around.

is ultimately the victory of thinking .

in fact, behind all this, there is a set of business logic systems to support, and the simplest one is the collision of the bottom thinking of the ecosystem.

If competitors are taken as an example, some people say, "Alibaba has always built ecology by opening up logic, while Jingdong mall controls logic by logic.

Who will win the two? This is not only a confrontation between two commercial companies, but also a collision of two business ideas.

East elder brother is a person who believes that personal authority is better than group a href= "http://www.91se91.com" > decision /a > brother. Whether or not we can go well in the second half of the market will not take too long. Next year's 618 share price will be the final answer.