From the pioneers to the followers: when the trapped

May 7, when the "tail goods sinks" on-line, the flagship brand tail goods promotion. This means that, not long ago also announced that the future will be the main force in the high-end apparel industry when, the twinkling of an eye on the "special sale" business.

Once the development of proprietary brands, but gradually become a third-party platform, aspiring to "high-end", but also a big push for tail goods sale. When what do you intend to do? Dangdang CEO Guoqing himself also failed to accurately define. April 26, Guoqing in an interview with the Beijing News reporter said: "We are also in the tangle, also in the balance." ”

In the more than 10 years of turbulent power, when in the "Tangle and balance" missed what? On the road of transformation, can its messy layout cope with the reality of crisis?

"Prudent" loss of prior advantage

Gross margin of up to 23%, the domestic platform electric Pioneer, listed at the price of 35 U.S. dollars, known as "China's Amazon" ... This is the former Dangdang.

Gross margin fell to 13.4%, the revenue behind China online shopping overall 66% growth, the stock price less than 5 U.S. dollars. This is the current Dangdang.

"When founded in 1999, Jingdong was founded in 2004, 5 years should be enough when the leading edge, but the size of the Jingdong is far from overtaking when, what kind of decision and implementation led to the results today?" This is a "know" site on a netizen's question.

Catch up when not only Jing Dong, 10 years, when the pioneers have been reduced to follow, by Ali, Jing Dong and suning Department extrusion first Echelon.

How has the situation been created? The industry believes that the strategic passivity makes when the best expansion opportunity, thus "breeding Tiger".

"In the domestic electric business industry financing burning money, regardless of the cost of Gongchenglvede, when the more ' prudent ' route, the choice of prudent conservative strategy, but the days of the cat, Jing Dong, suning easy to buy these opponents never stopped. "E-commerce analyst Li Chengdong told reporters.

"The scholar is engaged in the electronic commerce, unavoidably is less than Robin Origin's handwriting." Guoqing to himself Yuanchang. He even put forward friendly advice to crouched's own Jingdong: Dislocation competition, do different market segments, not every market to do strong. "So everyone has money to earn." ”

Guoqing Wife, when the chairman Yu once a word also confirmed similar values, revealed when the self expected value: "Survive, and live well." Isn't that a success?

In fact, when the road is not successful, even constantly questioned.

"Is there any reason to choose now?" Old customer programmer lei in "know" on The Spit: "The price is Cheap?" Jing Dong direct second kill, watercress buy a book, when the cheapest book has never been the most; goods complete? The same is a watercress purchase book, when the proportion of goods can exceed jingdong and excellence, only in Jingdong, excellent promotional time. Convenient payment? Excellent at the beginning of the goods to the credit card, he was still clinging to cash ...

Tingchenling, an analyst at the electricity business, believes that when the biggest problem is the reaction is too slow. "From the richness of the category as well as the expansion of the platform, they are slow to beat others." ”

When it was supposed to expand, the "mean Road" was considered "increasingly marginalized".

The lifeblood of books is divided

It seems only when the book cheese is moved that the Golden man can be the one to fight back. For Guoqing and when, and Beijing East had to play the book price war is not the battle of hegemony, but the survival of the war.

"What do you argue with me about the 30 billion of books in the market?" Guoqing evaluates Jingdong CEO Liu, "neither strategy nor sensible." ”

"500,000 kinds of books 50 percent, E-book audience not money!" April 17, Dangdang launched a 3-day E-book free download promotional activities, Jingdong Mall rapid response, launched the "50,000 free ebook Download" Activities, and even played a confrontational propaganda: "Free who did not, good book you did not." ”

Jingdong Covet when the book "stronghold" has not been overnight. As early as 2011, Liu to release the "5 years does not allow Jingdong book department profit", to low price confrontation when, "to fight will come ruthless!" October 2012, the two sides also staged a press "two election one" of the dark War.

Now the Beijing-East again out of the plan, ready to increase investment in the field of electronic book business. E-books are also an important part of future strategies.

BEIJING-East avoided when proud of the publishing house cooperation model, a new way to launch "famous ebook exclusive Creative program", has signed a number of best-selling authors, bypassing the press, directly invited writers to create E-books in their platform for sale.

At the same time, known to have more than 2000 suppliers, and some of the book suppliers signed a long-term exclusive agreement Dangdang, but with their own cooperation suppliers continue to create contradictions and friction.

Before, in order to confront Jingdong, when repeatedly will cooperate supplier to tie their own chariot, forcing publishers to "hate the world" and transfer costs to book suppliers; in April, by the "Network Scholar Festival" launched by the book price war, Dangdang Xianzhanhouzou, shouting "E-book audience do not pay" slogan, caused the publishing house antipathy.

Now, Jingdong opened a new book marketing model, and the press has more choices.

Amazon E-book Reader Kingle's plans to enter China have stalled, but the industry believes it is only a matter of time before the Kindle enters the Chinese book publishing market.

"I think that once the Kindle is in China, when this so-called relationship with the Publisher does not extend to the e-book sector." "Hundred road network CEO Cheng said:" Dangdang and publishing Company's cooperation base has been repeatedly destroyed. As long as the Kindle is able to quickly establish a more reasonable profit model for E-books, publishers may not follow. ”

E-books are considered to be the future trend of the electricity quotient books. Change the current, when also afraid of being abandoned, began to the field of electronic books. Not only set up a publication digital Business department, but also imitate Amazon to launch electronic reading terminals, want to grab in the Kindle before the Chinese E-book reading Terminal market.

The data show that Dangdang last year's book audio revenue 3.25 billion, and E-book revenue is only 3 million. Although when the prophecy "three years of books on the paper book can not constitute an impact," but Guoqing still said "lose also to do."

Obviously, always only the stable, the golden mean when, in the former Tigers, after the survival of the pursuers, finally active initiation of "card position" consciousness. "But the layout is a bit slow and a bit late," he said. Analysts told the Beijing News correspondent.

How to protect the lifeblood of books?

Looking for "second leg"

30 billion of the book market, although not small, but when the profit is a quick turnover of money. When no one is with the time to eat food, when the "small rich is Ann." Now, the book is not enough to see the cake, relying solely on books to support the profit has been unsustainable. When the Force department store, trying to find "second leg", the end of years of "one leg jump."

Early last year, the book category sales-oriented Dangdang announced the square platform strategy, with a view to the transformation from a single book-Audio class of electricity. The promotion of gross margin is the most important.

2012 years of data show that Dangdang department store business (self-added platform) Total turnover reached 1.15 billion yuan, more than 930 million books. This is also Dangdang department store business accounted for the first more than books. From the data, "when the" Integrated shopping center transformation has been achieved. Dangdang chairman Yu said.

In Guoqing's view, its transformation is due to "the limitations of the book market."

March, Guoqing officially announced that the clothing category as in addition to books, Mother and Child, Dangdang's third core category. "I have an idea that I don't think a platform can buy anything that consumers think of first." "Guoqing to Beijing News reporter said," The cat in China's share of E-commerce is too big, China's electric dealers to face up to the existence of the cat, to their own positioning, then we will be differentiated. When I communicated with the cat leader, he said that he was a whole crowd, so we did the middle and high-end customers. ”

"Positioning in the high-end" department store layout looks very beautiful, its essence is still only to be from the sky Cat's huge customers share a cup of soup.

Guoqing recently publicly predicted, "the Department of Books, the future when it will be such a trend."

When as a department store, how to and Beijing East, where guests, suning easy to buy and other strong competition? Insiders are not optimistic. Zong Ning, the Internet watcher, believes that department stores are not a strong point, and that the future is unlikely to become a strength. And the messy layout will be dispersed when the already limited energy and money.

Awkward platform Business

"Now buy electronic products, often found out are the third party distribution, if I use a third party, I would like to do?" I went straight to Taobao. "Programmer Lei is an old user, he is puzzled by the increasing number of Third-party businesses Dangdang."

In this is called the "Introduction to" strategy, when the hope through the open platform, the introduction of Third-party businesses to effectively reduce costs, enrich the department store capacity, to achieve "complementary advantages."

However, the "bring in" strategy hurts the user experience.

"What do you do when you get a high-end service?" When eating the "grievances" of the old customers Dai Yanfei to be when the new goal is not optimistic. Not long ago, she wrote in Sina blog Long Bowen "How I was from Dangdang's old customers into a boycott of Dangdang's roaring sister," about the Dangdang shopping encounter, and on the Micro-blog @ guoqing. "His attitude is good, incredibly still give me reply, to me to order number." Dai Yanfei said, "But the past 20 days, my problems have not been resolved." ”

At the beginning of April, Dai Yanfei decided to start an ipad, passing multiple pairs on several websites and finally deciding when to buy. "Over the years when buying books has been very smooth, out of this trust, and finally elected when." "Dai Yanfei said," but the result was too disappointing. ”

April 27, Dai Yanfei told reporters, online payment, the third party merchants delayed delivery, and told her "temporarily out of stock", she asked the merchant for a refund, "suddenly the merchant said there is goods." "When communicating with customer service, after countless" Please wait 24 hours ", got the final treatment plan: In this 20-day end of the net purchase, Dai Yanfei as a no-fault party, not only be required to bear 115 yuan to travel between Beijing and Shanghai high courier fees, but also to pay 85 yuan for the third party business to be when the Return point "fee.

The merchant's rebate to his head, Dai Yanfei think this is simply unreasonable.

This is not a case, online search customers for when the complaint case can be found, its open platform service quality repeatedly criticized.

In addition to the quality of service, compared with other open platform business, when the disadvantage is particularly obvious. Electric business commentators commented that Dangdang has been attracting Taobao sellers, build Dangdang sellers platform, but at the same time, the core category of standardization is Dangdang purchase and sale system of main varieties. The result of this arrangement is that Dangdang's open platform has been marginalized.

"When exactly do you want to do?" Is it the use of labels to build brands, or to build a platform? The situation is that both sides are not doing well and the service is not up to the mark. "said one analyst.

Analysts Ruzenwang said that the weak Dangdang open platform has been tepid, but at the same time, the Sky Cat and Jingdong open platform business quickly exerting force. "The cat has reached nearly hundreds of billions of dollars, and Jingdong is rapidly in 3 C, makeup, home and food and other categories of open business to complete the layout." ”

"Second" Dream Hard circle

Last October, when the formal entry of the cat in the form of a flagship store, including 800,000 categories of books and more than 300,000 categories of department stores. In contrast to the "bring in" strategy, this is called "Going Out". Guoqing said, "just admit it."

In the outside world, when the "go out" is helpless. Long-term losses, to participate in the electricity price war, when there is no more funds to the platform for construction, branding and service promotion, to the day cat rub point flow is also a stopgap.

In front of the cat, when the "penis." Guoqing also does not deny this point, "Don't take Me with the sky cat than, when never with the cat on an equal footing." "When the next goal is the top two. ”

However, the vision of "being a dick" may be when one needs to answer two questions first.

In the days of Cats, Jingdong, suning and so on at all costs occupy the first echelon of the reality of the pattern, "just want to be a dick" when, can be a dick?

The current answer does not seem to be optimistic: data show that, as of December 2012, in China's online shopping market share, the number one is the day Cat Mall, accounted for 52.1%, Jingdong Mall ranked second, Occupy 22.3%, when the eighth, Occupy 1.2%.

Now the market accounted for 1.2% of the time, from the "second" goal is still 21%.

In addition, when you have to face the second problem: if there is the ability to squeeze into the first echelon, then in the electricity quotient "0 and Game" fate, for when this has surrendered the surrender of "China Amazon", the cat will give it a "second" chance?

"When the goal is to live with the cat separated Crown runner-up, harmonious coexistence." If the cat thinks so, it's hard to say. After all, the volume and strength of both are too far apart. ”

Analysts believe that when the cat with the "marriage", looks like a "double win", but actually more cheap cat.

An electric business analyst told the reporter, Dangdang settled into the cat, in the short term, to improve the flow of certain help. But from the long-term development point of view, the "Dangdang" three words of the brand value is an injury.

"Day cat daily flow of up to 40 million, and when the daily traffic is only 4 million, the cat has formed a climate, more easily netting and retention of users, after a period of cultivation, and other users are accustomed to buy books on the day cat, Dangdang This sign what exists significance?" Li Sherong that, "on the surface, it is when the traffic is divided from the day cat, in fact, it is possible that the cat has acquired a loyal user who should have been when." So it's not necessarily a deal. ”

"The electric business industry is ' 0 and game '," said one of the electric business researchers on Weibo. "An oligopoly is a big trend for future electricity dealers." For the big guy, does the side of the couch allow others to sleep?

When you "Lose it"?

In 2012, Dangdang net loss of 444 million yuan, and 2011 (that is, the first year after the company listed) the loss for the same period of 229 million yuan, the year-on-year expansion of 94%. The company has been listed for two years, the loss has nearly 670 million yuan.

Analysis said that when the loss of the important reason is that the cost accounted for the high proportion of revenue, the highest ever reached 90%. Dangdang executives explained that the general and administrative expenditures did increase last year, mainly because of the increase in labour costs and after-sales service in 2012, while the biggest increase was in the number of technicians, which increased by 120%.

"Dangdang's loss is big because when it is a public company, the transparency is high," he said. Guoqing argued, "We have been ' naked butt ' in the past few years, and Jingdong and cat didn't say how much they lost." ”

Why is there not yet an effective way to profit? Guoqing replied: "2013 when the time can be profitable." "But there is no specific timetable."

As a listed company, when the quarterly need to report earnings, a continuous loss of two years when the investors wait for how long? Guoqing said he wasn't worried, "I'm not living for an investor." ”

"We on Wall Street investors also have this question, saying when there is a profit plan." We say no, no timetable, what we do is to make the clothing market scale bigger, hope in three years time to do 20 billion, this makes our competition threshold also improved, so that we have a stable basis to profitability. "Guoqing said.

"The general entrepreneur, the general professional manager will never do as I do, we know, investors look short, a year not the board will kill him." Guoqing told the Beijing News reporter, he and Yu are founder CEO (founder), so not the same, who can not drive them away.

For the continued depressed stock price, guoqing also appears to be complacent, "for investors, you recognize this founder CEO, you buy this stock, do not agree with you only to throw this stock Bai!" The high and low price of the stock has no effect on me. ”

Guoqing said, "When you lose."

This is not a groundless statement. From the book, because Guoqing and Yu, when the cash reserves can be short-term worry: as of the end of December 2012, when the book funds still reach 1.634 billion, year-on-year growth of 19.1%, the chain growth of 14.3%. Although the loss of 120 million in the four quarters, cash reserves did not fall back.

"With my current loss rate, it's no problem to burn for two years." Guoqing told reporters.

But because the stock price has been depressed, when the subsequent financing capacity is questioned.

Analyst Ruzenwang told reporters: "No matter which appliance business, the loss of such a large number is a huge pressure." Two more years of funding may be a problem. "I'm afraid it will be hard to get enough money to pay for it."

-Beijing News reporter

ZHANGQUANWI Beijing Report

Dialog

Guoqing: No timetable for profit

The Beijing News: When the party who has been passively involved in the price war from a few years ago has now taken the initiative to provoke a price war, what is the basis for this change? It seems that you were the most opposed to the price war.

Guoqing: When the listing of the road, the price competition is put forward the problem: generally do not actively attack. I am the target category boss, so for many years has been retaliatory counter-attack.

Beijing News: From the development of the core category of department stores, the development of electronic readers, to the days of the cat, the introduction of Third-party businesses. When the layout of the recent years is a little confusing. Seems to be throwing nets, what is the point?

Guoqing: When indeed the net is big, everybody looks at last year loss more, the stock price also can not recover, but we are heavy in the long-term plan, we hope to build a comprehensive shopping center, let the customer one-stop shopping, of course, we and the cat, we emphasize the target category outstanding.

The Beijing News: from the present composition of the products, books are still the core business.

Guoqing: Yes, the book is still a profitable category, although it was knocked out 600 million, the pain, but still profitable, the few are a mess.

Besides, is my character not good? What do I do when the target category, made first, these several have it as the target category? China does not have a company that occupies more than 20% of the industry.

Beijing News: When is a plan usually a few years?

Guoqing: Two or three years, no more than three years.

Beijing News: Does that mean that you are still ready to "not make money" in the next three years?

Guoqing: Our Wall Street investors also have this question, saying when there is a profit plan. We say no, no timetable, we are looking to the clothing market scale bigger, hope in three years time to do 20 billion, this makes our competition threshold also improved, so that we have a stable basis to profitability.

BEIJING News: Have you ever made any decisions that you regret having been listed?

Guoqing: One is the beauty makeup when the target category for two years, the second is not early into the day cat.

Beijing News: The industry has a view that your strategy is too conservative and has led to the marginalization of the present.

Guoqing: Others say when the style is too cautious, say when the market share should be enlarged. On the "marginalization", I have not formally responded, because I do not care about the price level, the lower my share price, the more unfavorable to the financing of the competition, all to my benchmark, he financing is even more difficult.

Beijing News: Some people say that when the layout is "East-west", which shows the confusion of their positioning, the core competitiveness of the lack of understanding, can not find the north. What do you think?

Guoqing: In fact, when the degree of swing is the lowest, we are often criticized by the industry is too cautious. I said I would stop if I grew at more than 100%. In the past, Weibo said that when the sales of 10 billion U.S. dollars, and still have to be profitable, I retired, for this matter, I can not release the forecast to say when to retire, but I am full of confidence.