Gome line on the electronic trader from the defensive change: high-profile to kill easy nuggets not easy

August 28, a headline, "The News that Wanda Tencent Baidu teamed up with the distribution of big electric dealers" by the Gome's big boss through micro-letter to the top executives of Gome.

For now, the big boss is still keeping a close eye on the domestic electric-business landscape. At the same time, under the direction of the Gome's top executive, Gome's electric business, Gome Online, has become the first strategy of Gome group. Gome Internal One executive regrets: "Compared with previous wool, this time is really to fully enter the pace of the electrical business." ”

According to the latest earnings reported by Gome on August 25 this week, Gome's online turnover rose 53.7% in the first half of 2014, with a 64.8% increase in the second quarter and a 43.8% increase in the number of independent user visits (UV) year-on-year.

According to earnings data, Gome's electricity business is now on the march. Gome Electric President Wang Junzhou also made it clear that the second half of this year, Gome still relies on the whole channel strategy, the consumer electric business to surpass the rivals Suning easy to buy.

According to Tencent Technology learned that early September this year, Gome Online will officially launch the open platform business. Since then, Gome electric Business "home appliances self + platform" model formally formed. Moreover, Gome's overall best personnel will also be deployed to Gome online. Recently, Gome online part of the business has moved from the Zhongguancun Ding Good office to the headquarters of the United States, Peng Run mansion.

All kinds of signs that the original supporting the Gome online is the Gome group resources and center of gravity tilt, in this field again to embark on the road of the big battle, Gome can achieve gorgeous reverse attack, or an unknown. After all, Gome online and rivals Jingdong, Suning easy to buy the gap is still very large, this time it can go far, it is difficult to conclude.

But the success of the electricity business in the field determines Gome's future.

Beautiful results behind the scenes: Offline to mark Wal-Mart Flash or out of the trough?

This week, Gome handed in a beautiful transcript.

The first half of this year, Gome's overall sales revenue of 29.12 billion yuan, up 7.4% Year-on-year, the profit of about 690 million yuan, an increase of 115.2%. Overall gross profit margin from the same period last year's 18.3% growth to 18.8%, profit margin of 2.4%, the year-on-year growth of 1.2%. The total cost rate fell by about 0.8% to 16.3% year-on-year. Among them, the net profit of 2014 two quarter is about RMB 430 million yuan, increase 60% year-on-year. Now in the first quarter, Gome's sales revenue reached 13.35 billion yuan, up 8.2% year-on-year, achieving net profit of 268 million yuan, a sharp increase of 252.6% compared with the same period last year. This is also Gome's performance for 6 consecutive quarters over the industry level.

At present, the overall domestic retail industry is showing a sluggish state. According to statistics, up to now in 91 A-shares listed companies in the retail industry, already 57 have disclosed a half annual report or performance letters. Among them, 25 companies to achieve the ownership of the parent company shareholders of the net profit fell year-on-year. In the published semi-annual report of A shares, H-share retail enterprises, net profit growth, gross profit margin generally decline, some enterprises even appear huge losses.

This beautiful performance mainly benefits the expansion of the offline channel. Gome, while shutting down its weaker-earning stores, ultra and chain stores under selective lines, opening its supply chain to these partners and helping department stores and supermarkets run home appliances with a consortium model. This way, the United States will not open new stores can still increase the level of a city's offline coverage, but also make up their own in the two or three-line City network layout of the blind spot. Gome stores in the future new growth will be mainly in the two-tier market, the focus of the shop is also in the two-tier market.

Wang Junzhou to Tencent Technology and other media said, "Gome can continue to grow on the premise that the supply chain is winning." Gome Gross Profit margin is good, a high margin of goods sold well, better combination of goods, earn more: The second is inventory turnover faster, less profit and loss. ”

This is gome to mark Wal-Mart's experience. Performance is beautiful, specifically, the main line is the growth of the store, channel to the three or four-tier market sinks. Supply chain, logistics improvement and line on the integration, regional coverage of more than 400 cities nationwide in the first quarter of this year to complete, and finally began to bear fruit.

It is worth noting that, compared with the high growth of net profit, Gome's revenue is slightly less than the power, only 7.4% year-on-year. Some people in the industry said Gome's earnings looks beautiful, but in pursuit of profit, it may only win the present, but lose the future. After all, the outlook for a company is more about its size, not just profit. And the former line under the traditional channels of brilliance has not been, the development of electric Shang Cai is the general trend, and the reality is that the power of its electrical quotient is still thin.

Gome also seems to see this hidden danger. Gome now has ample cash flow in the hands of the second half began to attack the electricity business, is to resolve this problem.

It is worth mentioning that, in the transition, as early as 2013, Gome or the loss of the state, by the end of 2013, Gome attributable to the listed company's sales revenue of 56.401 billion yuan, a stable growth of 10.4%, the profit reached 892 million yuan.

"In the short term of the one or two-quarter earnings, perhaps just a flash in the pan, but gome consecutive quarterly results out of the trough, it is worth studying and affirmation." And as a representative of the traditional retail industry to transform the Internet, the model at least avoids the plight of similar opponents in the big pit. "An analyst who has been tracking gome for years is so stressed.

Online dealers from the defensive change: high-profile to kill easy nuggets not easy

In fact, Gome has long been on the road, but up early, but only to catch a late set.

According to the third party investigation agency, the 2nd quarter of 2014, China's online retail business share data show that the independent electric business platform, Gome online from the 10th in 2013, jumped to the second quarter of this year fifth, Suning Tesco ranked third, the first second is the cat and Jing Dong.

Prior to that, Gome has contracted the line on the part of the electricity, although the profits made contributions, but this is contrary to the trend of household appliances retail industry. So have this fan Huang personally Duzhan electric business, want to "online + offline + Mobile terminal + other social channels" of the entire channel sales platform from guarding the city to the siege.

At present, Gome online growth momentum is good, but the overall still and jingdong and so there is a huge gap in the user shopping experience is still a variety of problems. Tencent Technology has experienced the operation of its own clothing, such as non-household electrical appliances goods, shortage phenomenon is serious. All this needs to be further refined by Gome.

Before the domestic electricity dealers in 10, the PC end pattern has been set. Gome wants to surpass Jingdong in PC end, hope is slim, but in the next 10 years of O2O of the mobile electricity merchant and electric trader, perhaps can become Gome electric trader to play a turnaround opportunity.

Mobile electric business is equivalent to ten years of long-distance running, Jingdong is only in the beginning of the first step and the second step, still in temptation, did not get the ticket, the industry absolute King has not yet appeared. Gome Online Chairman Shangui said first, in the mobile electricity business, Gome's footsteps only a few months behind the Beijing-east, the gap is not big.

Most crucially, at the mobile end, it has been seen as a strong "burden" of the United States to transform the Internet, the huge offline stores and the disadvantage of the two or three-line city, may become Gome's full channel including O2O advantage. For example, the Gome offline stores will be fully covered with WiFi, and through the app wireless terminals in the store application to achieve a full store + online product selection, the user experience with the changes.

"Entrepreneur" founder New Wengwen once thought, "if the traditional business (Gome, etc.) is cicada, the PC Internet is the birth of the electricity merchant is mantis." The cicada either waits to die or becomes a praying mantis, the problem is that you do not have that gene. This seemingly ironclad ending has been changed by the mobile Internet. The mobile internet essentially opens up an era in which users can know exactly who they are. With the mobile Internet, traditional retailers can bypass the giant mantis, the PC Internet, away from the miserable situation. If the line is doing well, in a field of deep operation, then, coupled with the mobile internet to provide the self upgrade, constitutes a "heavy vertical", can be invincible. ”

In a word, the mobile Internet's new jungle rule makes the future of traditional retailers such as gome a variable, as the PC-era power-maker subversion may turn into a subversive.

However, the mobile end of the electricity business, Gome is only in the groping, there is no victory to grasp.

In short, Gome's efforts to do a good job offline, but in the determination of Gome's future is still a long way to the electricity business. At present, the Gome electric business "all-out attack" the horn has sounded, the future even to kill into the car electric, Gome electric business by Shou turn, desperate, opportunity still exist. and see how Gome, with its rich capital, is killing a new path.