China E-commerce Research Center analyst Evaluation of the Open platform

I. Background overview July 29, 2013, the Beijing-east (id.com) in its large open platform supplier conference said that 2016 open platform business will account for half of the entire Beijing-east platform. In addition, Beijing-East announced that the technology, services, financial and private logistics support packaging, positioning the open platform in the "seller's total Solution provider", and pledged to upgrade the above four aspects of improvement. The specific rules of the open platform will be released in the three quarter of this year. April 17, 2013, every customer Prudential product CEO aged, in 2013 shoes clothing e-commerce Summit for the first time publicly declared, to the V of this platform, open to more traditional brands. July 6, 2012, Suning easy to buy open platform Strategy conference, Suning easy to buy high-level interpretation of the open platform model and investment policy. Suning easy to buy open platform is fundamentally different from the strict control of suppliers, is located in the high-end, never big market model. And before this, 100% rely on open platform to attract sellers to Taobao open Consumer-to-consumer shop, to the day the cat opened the flagship store Taobao, as if already earned a pot full, almost become the consumer electric business industry, the only scale of the profit of the electric business enterprises. Second, data comparison 2.1 Beijing-East open platform core data according to the China Electronic Commerce Research Center (100EC. CN) monitoring data show that since October 2010, the Beijing-East open platform has been on the line so far, has become second only to the cat of the domestic business pop platform. Number of sellers: has risen from the original hundreds of to close to 30,000, the seller's number of quarterly composite growth rate of 60%. Among them, the 2012 month sales of less than 100,000 of sellers achieved 175% sales growth, monthly turnover of 100,000 to 1 million of the seller growth rate of 210%. -Product variety (SKU): From tens of thousands of to about 11 million, quarterly compound growth rate of about 70%, higher than the industry growth. --Platform Turnover (GMV): 2011, the total sales of Jingdong 30 billion, of which the open platform sales of about 3 billion, accounting for the total gmv10% of the east. 2012, Jingdong total sales of about 60 billion, of which the open platform turnover of 12 billion, the growth rate of about 300%, China E-commerce Research Center According to the overall 15% Commission, Beijing East that year to achieve 1.8 billion of the pop platform operating revenue. In 2013, the Beijing-East plan to achieve a proprietary + open platform of turnover of 110 billion, Jingdong-owned and open platform to provide more than 7 million single goods inventory. By 2015, Jingdong predicted that 20% of sellers on the core of the open platform would account for 80% of total sales. By 2016, Jingdong expects open platform turnover to account for 50% of the total Jingdong turnover. 2.2 Electronic Business open platform access, comparison of operational standard data China e-Commerce Research center through the entry threshold, margin, deduction rate and platform use fee, to the cat, Jingdong, Dangdang and Amazon China four typical electric dealers in the open platform, conducted a detailed comparison of evaluation found that the home appliance business Platform Investment PolicyWith small differences, see the following figure: 2.3 Enterprises to carry out the selection of electricity dealers open platform data according to the China Electronic Commerce Research Center (100EC. CN) Monitoring report data show that the enterprise E-commerce business Development and the third party platform open shop and independent brand online mall mainly, according to the research data can be seen, ranked ten are: Taobao/cat, since the establishment of independent shopping mall, Jingdong Mall, Suning easy to buy, Amazon China, Tencent Pat Net, QQ Mall, Dangdang , a shop and so on. From this, the traditional enterprise electric shock, the large electric platform relatively favored. Third, the analysis reviews at present, the general loss of proprietary goods is more serious, and there is no good profit model. In order to realize the flow of cash, the major electric dealers have developed a third-party platform to increase the number of businesses, expand turnover, improve gross profit margins, has become an important industry trends. Major platform-type electric dealers in the supplier resources, especially the core brand big sellers of the battle, also quietly started. The following is a review of the China E-commerce Research Center analyst. Point one: "Open platform Strategy" will help improve the financial status of Jingdong, promoting the IPO process--Lei researcher, director of China e-Commerce Research Center we are not too hard to know that the Beijing-east platform is the hope of the company's profitability for the next two or three years, as we release the signal from the first open Platform Partners Conference. Based on the open platform more than the self-employed higher gross margin and please operating costs, this is expected to change the overall profitability of Jingdong. In this regard, China e-Commerce Research Center Director Lei researcher that, from the financial and capital level, we believe that the Beijing-East open platform in the strategy of such a high level, not only help to greatly improve the company's total trading (GMV), improve the profitability of the operator's operations, to achieve the function of self It is expected to change the financial losses for many years, to give investors a satisfactory answer, and finally to achieve an important cushion for the IPO. In addition, we found through the Dangdang earnings analysis, since 2012, Dangdang from the Third-party platform revenue rapid growth, from the Q1 200 million to Q4 548 million, year-on-year growth of 169%, the chain growth of 60.6%. When in 3 C, clothing, shoes, wine, food and other department stores in the area to make Third-party platform revenue surge. Another data study shows that the open platform for Jingdong's gross profit margin increased by 0.5%, because the open platform is a commission model, its marginal cost is very low. Open platform can quickly enlarge market share, on the other hand, can contribute net profit. That is why, in the Beijing-East plan, sales of its open platform will reach 50% in 2015. Point two: Open warehousing logistics not only against Ma Yun's "Rookie network plan" can also bring considerable operating income to Jingdong-China E-commerce Research Center Director of LEI researcher in addition, we note that Jingdong also targeted the sellers of technology, logistics, services, finance and other open platform of the new policy, In particular, the Beijing-East mentioned logistics support for the merchant warehousing and distribution, which is the most attractive andReally. Under the latest open platform policy, Jing Dong covers an area of about 120 acres of the "Asia" Shanghai Logistics Center and Third-party Warehousing system, will be officially open to third-party businesses, is expected to be put into use at the end of the year. By the end of 2013, the warehouse area of Jingdong will exceed 1 million square meters. Liu said that after the Beijing East will be surplus logistics and distribution capacity to its pop open platform for businesses. In this regard, China Electronic Commerce Research Center Director Lei researcher thinks, Beijing-east move, not only make logistics is expected to become one of the core profit model of Jingdong, but also to minimize the sellers by Ma's "Rookie Network plan" sweep, through the first to carve out Taobao online large logistics, large data market, so as to achieve " Stone "purpose. According to the China Electronic Commerce Research Center (100EC. CN) monitoring data show that suning easy to buy open platform only logistics distribution of a considerable fee for each commodity service fee: small pieces of 1.2 yuan/piece, 2.4 yuan/piece, large 2.9 yuan/piece. Each order price is: Small 4.0 yuan/single, medium pieces for 5.5 yuan/single, bulky for 6.7 yuan/single. The heavy fee is 1.5 yuan kg. This does not include, warehousing outsourcing, packaging and other related costs. It can be seen that the opening of warehousing and logistics will also bring considerable operating income to the electricity dealers. Point three: Electric business platform must be well settled into the business "audit off" open platform can be good and fast development-China E-commerce Research Center assistant analyst Yia Jianfang, Yia Jianfang, an assistant analyst at the China Electronic Commerce Research Center, believes that businesses that have settled on their own platforms are tested, audited and followed up to ensure consumer rights, This is the duty of the electrical business. Because of the particularity of the electric business platform or channel, consumers ' rights and interests are often difficult to protect. and the quality of online shopping, the most fundamental way is to engage in the Electronic business platform for the sale of specific goods, especially the sale of primary goods sellers or enterprises of the legal or formal qualification certification. A survey found that this should be the basic obligations of the electrical business of third-party detection is often a formality, different standards, and even the existence of interest, the electric business platform to reduce the number of businesses due to the quality of the risk, to cover the phenomenon of some businesses. But this is the need for the electrical business as soon as possible to improve the place. With the rapid development of the electric business platform market, it is necessary for the electric business platform to strictly control the merchants, which is not only responsible for themselves but also for its use, only in this way can promote the benign circulation of its open platform and healthy development. Viewpoint Four: The traditional enterprise electric shock borrow the force open platform is the shortcut--China E-commerce Research Center analyst Mo Dai Green July 29, at the open platform Partners ' meeting in Beijing east, Liu implied that rivals were suspected of monopolizing the competition, saying that "businesses get up earlier, sleep late, promote more, but earn less than last year, why?" There are some platform monopolies. "Liu said, businesses do not put so much on a platform, should be to Jingdong, when the transfer, do not put their lives into others hands." In this respect, China E-commerce Research Center analyst Mo Dai Greensaid that on the one hand there is sufficient passenger support. At present, Taobao/cat, Jingdong, suning easy to buy, when the electric platform has occupied a large number of market share, saving a lot of online shopping, traditional enterprises can borrow force. From the Supplier network sales channels, by entering the Beijing-east and other electric platform, the establishment of a diversified distribution system, to help reduce operating costs and risk. First, "Borrow Ship to sea", through the industry-leading network to buy Third-party platform, "standing on the Shoulders of giants", and good and fast to carry out the electricity business. At present, Taobao, Beijing-east, Suning easy to buy, when the electric platform has occupied a large number of market share, saving a lot of passenger flow, traditional enterprises can spend less than the wrong burning money to pull the passenger flow, save a lot of human and financial consumption. Enterprises can concentrate on marketing, service and logistics distribution. Second, to master their own core data, have their own platform, in order to controlled. Imagine, a brand of online sales accounted for the overall sales of nearly half, and this online sales by a certain platform monopoly, when the platform from time to year fee increases, technical service fees rise, trading commissions, as a settled enterprise, can only choose to passively accept or exit. Third, "Put the eggs in a number of baskets" to reduce the risk of network marketing channels. When you borrow a boat to sea, put your eggs in multiple baskets, in the supplier circle such a joke "if you only choose a large electric dealer, others even if the small two are big ye, you (supplier) is grandson, if your platform to implement the whole network distribution, brand and relatively strong, then you are great uncle." At this point, the appliance dealers will be asked you to enter, your network sales risk will be reduced, more controllable channels. Finally, China E-commerce Research Center analyst Mo Dai Green also suggested: the traditional enterprises to do electricity, to establish a wide range of network channel sales of strategic thinking, including the establishment of the official website Mall, Consumer-to-consumer distribution, the operator to open the flagship store platform, to carry out online group buying, and constantly try to flash shopping, Mobile shopping and other emerging sales methods. Opinion five: To find the balance point of flow distribution and profit point flow will become an important profit model in East Beijing--Pangminli, assistant analyst at China Electronic Commerce Research Center, Pangminli, an assistant analyst at China E-Commerce Research Center, believes that the open platform also has to deal with its own and settled suppliers ' flow distribution and conversion rate. Some open platforms do not do well, in addition to their own small flow of problems, the more important problem is that the conversion rate of the suppliers are not as high as the conversion rate of proprietary commodities. Open platform to find a point, so that the flow to achieve the highest, most balanced profit points, so that proprietary products and supply products can promote each other, interactive marketing. Secondly, the Beijing-east website traffic support behind, in fact, Jingdong fully excavate its own 80 million user resources, on the billion PV flow resources and sellers advertising exposure, and will be realized through the flow, to achieve its commercialization process of an important move. This is undoubtedly a full "reference" Taobao/cat as the user's largest network to purchase traffic flow, traffic flow to the profit model. Point six: Open platform to the inevitable trend platform to sellProblems still need to be improved--Mo Dai, an analyst at China's E-commerce Research Center, is currently losing more and more of its proprietary products, in order to realize the flow of cash, the major electric companies have opened a third-party platform to increase the outside business to settle in order to improve the gross profit margin, which has become the current trend of the electric business industry. Major platform-type electric dealers in the supplier resources, especially the core brand big sellers of the battle, also quietly started. In this regard, China E-commerce Research Center analyst Mo Dai Green, from the business model, the open platform can bring the overall business of the electric quotient, trading volume of rapid growth. Whether it is mobile interconnection or e-commerce, open platform has become a positive development trend of the entire Internet industry, because the internet compared with the offline, there is a "more easily shared" characteristics, whether the business or users can share the basic resources, infrastructure. But if it is simply to provide the platform, relying only on basic resources, the platform is difficult to sustain. At present, the structure of the sellers on each platform is diverse, but the mode of operation is relatively single, but the traditional mode of business, it is difficult to make their own sales and the development of the entire platform has been a breakthrough. In addition, due to the different supply channels, sellers of the quality of goods is difficult to obtain a unified guarantee, online shopping products adulterated selling fake events, sales do not open invoices, arbitrary cancellation orders are frequently exposed to the media, and many precisely from these open platforms. In addition, the platform of small and medium sellers liquidity is large, this is not convenient for the entire platform management and optimization.