Will Vip.Com Split Accounts For Financial And Logistics Restructuring?

For 19 consecutive quarters of profit, share prices did not stop falling.

The survival mode, buyer team and logistics system are in existence.

And Ali two giants attack, the living space has become smaller and smaller.

Customer loyalty declined.

Channel dependence is decreasing. Is vip.com still saving?

From the financial data, vip.com is pretty good.

According to the world clothing and shoe net, in May 16, 2017, vip.com released its first quarter unaudited earnings, with revenue of 15 billion 950 million yuan, an increase of 31% compared to the same period last year, but at the expense of 730 million yuan in the current quarter, an increase of 21.67% over the same period last year.

In August 17th, vip.com released the unaudited second quarter financial report as of June 30, 2017.

Net revenue increased to 17 billion 520 million yuan, or 30.3%.

In the second quarter, the total number of vip.com active users increased by 22% to 28 million 100 thousand, and total orders increased by 23% compared to the same period last year, to 84 million 800 thousand.

Vip.com continued its 19 quarter earnings performance, refreshing the continuous profit record of the electricity supplier industry.

But the question is, why do investors not buy it?

Since April 2015, vip.com has entered a declining road.

In June 30th, Deutsche Bank lowered vip.com rating from buying to holding. Vip.com shares fell 8.5% on that day, and the share price fell further by 4.74% a week later.

From October 10th, pushing back a year, Alibaba shares rose 68.87%, Jingdong shares rose 47.14%, and vip.com fell 47.66%.

What the hell is this? What do investors see?

Vip.com has been monopolized by the two major electricity suppliers and can be expanded to vertical advantage.

According to AI's latest data, in the first quarter of 2017, China's B2C shopping website pactions amounted to 707 billion 80 million yuan, vip.com accounted for 3.7% (about 26 billion 200 million yuan), Tmall and Jingdong accounted for 56.6% and 26% respectively.

The promotion season has become more and more important for the electricity supplier.

Everyone usually clutched, chopping hands when promoting sales, cheap.

From Tmall and Ali platform GMV (online total turnover), Tmall double 11 GMV proportion increased from 0.78% in 2011 to 3.2% in 2016 double 11.

Suning 818 store orders increased by 312% in 2016, and online platform pactions grew by 60.14% over the same period last year.

Jingdong's double 11 trading volume increased by 60% in 2016, the growth rate of the order increased by 60%, and the core GMV growth rate was 47.4%.

Vip.com still has its own advantages in women's clothing, footwear and cosmetics.

Plus, vip.com has its own 419 global carnival, but the distance from Tmall and Jingdong is getting bigger and bigger.

The unique variety will decline, now the whole network multi-channel operation becomes the trend, the supplier selection is also more and more diversified, the mobile e-commerce threshold is reduced, the development is swift and violent, the micro shop, its own APP, numerous guide purchase websites emerge, the brand suppliers do not have to rely on the single platform, and can get good traffic.

Fierce Tmall is optimizing its structure, concentrating on traffic integration and distribution, reducing the cost of supplier operation, and traffic operation is no longer a simple burn and pull user in the past.

The strategy of vip.com's survival is yellowing.

Vip.com was founded in 2008, and its main strategy is to help consumers digest inventory by signing a brand discount retailer.

Attracting customers through short time sales, the main source of supply comes from the two or three line brand, which is quickly distributed through over season goods and tail cargo.

Vip.com accounts for only about 13% of the first tier cities, 30% of the second tier capital cities, and 20% of the four tier cities and counties.

Users are concentrated in the 234 tier cities of Guangdong, Jiangsu, Sichuan, Zhejiang and Fujian, with high income women aged between 20 and 40. The repeat purchase rate is reported to be over 80%.

Apart from brand cooperation, vip.com's biggest strength lies in the buyer team and warehousing logistics.

In terms of supply chain, vip.com has exclusive selling rights for more than 1100 brands.

The purchasing team has 881 people, many of them are fashion magazine editors, such as Ruili and Xinwei, and buyers of women's wear in department stores.

Customers can also write down the brand they want on the website, and the company purchases it.

Buyer mode no longer has advantages.

Vip.com is self built logistics, logistics, vip.com storage total area of 2 million 200 thousand square meters, the total number of pre positions increased to 11; vip.com 95% orders from vip.com logistics distribution, this proportion in the same period last year was 91%.

Warehousing belongs to the fast forward and quick out mode. It can cooperate with the upstream manufacturers, and the products that can not be sold will be returned to the manufacturers quickly.

Pressure mountain, Tmall and Jingdong's sale will be huge, and the sale of other electric providers will be dwarfed.

Clothing is already one of the most important businesses of China's largest electricity supplier Alibaba. Jingdong has bought a $400 million stake in the UK luxury electronics platform Farfetch, and is committed to introducing international fashion.

On what platform does a female consumer cut their hands and lose their money? It mainly depends on cost performance, quality and product category.

Vip.com has fewer customers.

According to the first quarter earnings report in 2017, the total number of orders was divided by active users. The average number of orders per user in the first quarter of 17 was 2.773 orders, though slightly higher than the 2.730 of 2014Q1, but it was 6.9% lower than that of 2.980 in the same period in 2016.

If the total revenue is divided by active users, the price per passenger in the first quarter of 17 is 613.57 yuan, which only maintained the same level in the same period in 2016.

Can't get rid of fake storm

By the end of 2015, vip.com was caught in a "fake Moutai storm". The event continued to ferment. Finally, vip.com issued a statement, which confirmed that the platform sold fake Moutai. In March 2016, vip.com was exposed to divulge the user information; since mid July 2017, the news about the merger of vip.com and Jingdong has made the electricity supplier once again enter the public view.

Fake goods are flooding the Internet.

In the past two years, capital has already escaped from the market. The stock price of vip.com has plunged from the high point of the previous 30 US dollars to the current US $8.3.

In April 2016, Sequoia Capital disappeared from the list of major shareholders of vip.com. In the next year, Tiger Fund also turned away.

Like Jingdong and other electricity providers, vip.com split financial and logistics restructuring, will investors recognize accounts?

More interesting reports, please pay attention to the world clothing shoes and hats net.