Industry special comments: according to media reports, Alibaba’s B2C retail business group has recently begun to enter the field of self operated e-commerce. At present, it starts to test the water from 3C category. If it develops smoothly, we expect that in the future, Alibaba may adopt the dual operation mode of “platform e-commerce + self operated e-commerce” in 3C, household appliances, home appliances, jewelry and other categories, and there will be direct competition with JD at that time. According to relevant reports, on the traffic side, alibaba will rename tmall app to Maoxiang app and set it as the traffic portal of its own e-commerce business, but Taobao app remains unchanged.
On the merchant side, alibaba will give lower deduction points to cooperative brands than JD.
We believe that in the short term, Alibaba may give some traffic support to Maoxiang app from Taobao app to help the rapid growth of the first batch of cooperative brands in order to build a benchmark case, which is not difficult for Alibaba; However, in the long run, whether we can continuously obtain and retain high-quality 3C brand businesses depends on whether the logistics performance level can achieve better efficiency.
According to relevant reports, danniao or Shunfeng will be responsible for the distribution of Maoxiang’s self operated e-commerce. The specific details are unknown. However, it can be judged in advance that danniao previously mainly provided landing distribution business for tmall supermarket, and its experience was mainly concentrated in the field of Ribai, while Shunfeng’s warehouse distribution experience was mainly learned from the cooperation with vipshop, and its experience was mainly concentrated in the field of clothing. Therefore, in the 3C field, they are basically recruits and need a certain period of time to grow. In the future, if we want to expand the scope of warehouse distribution to household appliances or household appliances, it may take longer running in time.
To sum up, we believe that Alibaba’s attempt is more to explore new growth space in the field of e-commerce, which is difficult to pose a threat to JD and JD logistics’s core competitiveness in the short term.
Market review of this week: this week, the commerce and retail sector closed at 3963.72 points, up 0.14%, 0.95 percentage points lower than Shanghai and Shenzhen 300 (up 1.08% this week). The sector ranked 18th among 29 primary industries. Among the segments, general retail fell 0.75%, trade rose 0.58%, franchise chains rose 2.26%, e-commerce and services fell 2.18%, and professional market operations rose 0.76%. The companies with the top five stock gains are * ST Hongtu (15.38%), Zhe Jiang Dong Ri Limited Company(600113) (10.10%), Hangzhou Jiebai Group Co.Limited(600814) (9.91%), Beijing Kingee Culture Development Co.Ltd(002721) (9.31%), Guangdong Highsun Group Co.Ltd(000861) (8.62%); The top five companies with stock declines were Beijing Cuiwei Tower Co.Ltd(603123) (- 15.48%), Changsha Tongcheng Holdings Co.Ltd(000419) (- 14.66%), Ningbo Zhongbai Co.Ltd(600857) (- 9.02%), Beijing Zhidemai Technology Co.Ltd(300785) (- 7.19%) and Nanjing Textiles Import & Export Corp.Ltd(600250) (- 6.12%).
Important industry news of the week:
[Internet] the national development and Reform Commission and other departments guide the Internet platform to reduce the service fee standard of catering merchants
[Internet] didi layoffs almost across the board
Announcements of key companies:
[ S.F.Holding Co.Ltd(002352) ] on February 18, SF announced that the revenue of express logistics business in January was 17.28 billion yuan, a year-on-year increase of 14.23%; The business volume was 989 million, with a year-on-year increase of 10.01%; The revenue of supply chain and international business was 7.833 billion yuan, a year-on-year increase of 522.66%
