China's E-commerce market ushered in the outbreak of development, the consumption of hot department stores gradually cold

China's E-commerce market ushered in a burst of development, is becoming a new force in the retail industry can not be underestimated. But the traditional department store industry is facing the bigger challenge.

With the VC and PE investment in E-commerce more and more high, related department stores investment also plunged into the freezing point. According to Chinaventure group statistics, 2007-2011 years of five years, the domestic department stores only 12 financing, cumulative disclosure financing scale of only 2.333 billion yuan. Although the industry scale continues to grow, but in recent years the rapid rise of domestic e-commerce, the department store industry has formed a real impact.

Chinaventure Investment Group analyst million told the "First financial daily", because the department store has a unique brand-effect shopping experience and consumer groups, can not be completely replaced by E-commerce. But the department store industry has entered the integration stage.

Consumption of hot department stores gradually cold

Wange that the Ministry of Commerce February 6, 2012 issued the "Twelve-Five" period to promote the development of the retail industry, the guidance of the retail industry is a great positive news.

"Opinion" in China "Twelve-Five" retail industry, one of the development objectives: the commodity scale to maintain a stable and rapid growth, social consumer goods total annual growth of 15%, retail sales increased by an average annual growth of 15%.

From the top down to promote consumption also let PE see investment opportunities. Chinaventure Group of financial data products Cvsource in July 2011 has been searched for thousands of keywords and tens of thousands of search results for statistics, Then found: consumption of new Energy, TMT (Science and Technology Media Communications) energy mining industry, such as the Five keyword search volume of the Database keyword search total of 73.4%. Among them, consumption accounted for 27.3%, become the second half of 2011 to 2012 to date, VC/PE investment institutions Most concerned about the industry.

But at the same time, the general merchandise industry investment is not optimistic. Chinaventure Group statistics show that the general merchandise industry by the VC/PE financing case less, 2007-2011 years of five years, the department stores only 12 financing, the cumulative disclosure of financing scale of only 2.333 billion yuan. June 8, 2008, the new days to invest in Teda investment Hong Yi Goldman Sachs to 675 million yuan to invest in the new century department stores case, become nearly five years of the largest department store financing case.

Historical data show that from 2007 to the end of 2011, the department stores a total of 11 IPO cases, of which the 2010 IPO financing scale reached the highest value of nearly 5 years, China International (002419. SZ)-Year-old Bao department Store (00312.HK), respectively, landed capital market, a total of 8.205 billion yuan.

Industry bottlenecks to be broken

2011, Beijing Pacific (601099, shares bar) surplus Branch store because it is difficult to withstand high store rent forced close. In Guangzhou, for example, sales of several department stores in Guangzhou last autumn have continued to fall within 10%. In the first three quarters, Guangzhou total retail sales of consumer goods fell 4.7% year-on-year. In addition, authoritative news revealed that according to incomplete statistics, at the end of last year, Guangzhou about some of the retailers have not completed the sales task.

Million lattice analysis that, with the rapid growth of e-commerce market scale, the rapid development of logistics industry, the preferential power brought by the electricity merchants to have a strong consumption capacity of the one or two-line city consumers began to gradually change consumption habits, the department store market share is increasingly being squeezed by e-commerce.

Many traditional retail industry has begun to enter E-commerce, Suning easy to buy the official line, Gome emergency business, Wal-Mart announced into E-commerce, Xidan shopping mall in 2001 to build a Igo5 love shopping site, to February 2010, IGO5 website has achieved profitability, sales of more than million yuan, But relative to the Xidan ground entity shop single shop 1.2 billion yuan a year of revenue is still not enough for the road. So far, no domestic department stores have explored a more successful model.

The traditional department store industry net, its future prospects are still unknown. However, in the category-rich department store, there are a number of segments of the electrical operators to hand over the satisfaction of the answer, although they are relatively young, but their growth rate and unique concerns.

In addition, the Department of general merchandise industry's own integration transformation is the fundamental to improve the competitiveness of department stores. At present, the department stores revenue mainly from the self-employed business associated business management fee rent Four, the current domestic department stores to take the form of joint ventures, joint income is also the main source of income of major shopping malls. Brand business directly into the shopping malls, so that consumers in different regions can enjoy the same quality of the brand price and service, but also make the market in the minds of consumers without differentiation of the concept of in-depth, so that the specific department stores enterprises competitive advantage is difficult to reflect.

By contrast, the proprietary model is the purchase of goods through the mall, the product to reshape the packaging to form its own brand. This way can greatly improve the degree of differentiation of the market, to meet the personalized needs of consumers and enhance the department store profits. Wange that, under the premise that the existing brand merchant is settled and become the main income source, the domestic department store enterprise can develop the proprietary business appropriately, carry on the increment of the industrial chain, and improve its core competitiveness. This kind of department store enterprise also deserves the appropriate attention of PE organization.