There are still two weeks before the "Double 11" shopping festival from the Chinese e -commerce melee. One of the e -commerce giants Jingdong has launched a wave of attack on Tuesday (October 24).
A JD.com recruiting person shouted "Taobao One Brother" Li Jiaqi on the same day, saying that he signed a "base price agreement" with the brand to create a "lowest price of pseudo -network", which harmed the brand's long -term development and harmed the basic rights of consumers.
As soon as this remark came out, it immediately triggered a variety of drool warfare.
Why did JD.com tear Li Jiaqi?
JD.com named Li Jiaqi in the circle of friends, saying that JD.com received a lawyer's letter from the brand Shang Hai's lawyer because the price of a certain oven was lower than Li Jiaqi's live broadcast room, saying that it violated the "base price agreement signed by the brand and Li Jiaqi.", Requires it to compensate for huge liquidated damages.
The recruiting personnel also suffered a lot. The low price was completely the subsidy of Jingdong's own pocket. It was "sacrificing the gross profit of the entire department", but was complained by the brand.
Hai's statement issued a statement that night denied that there was a "reserve price agreement", and said that the oven for the price sold, each loss was borne by the Hai's brand, not a platform subsidy fee claimed by JD.com.
Li Jiaqi's company Mihong also denied the "bottom price agreement" and emphasized that the brand never required the brand to make any "two choices".
However, a beautiful wrist contract that Chinese media subsequently exposed showed some of the hidden clauses between the brand and the anchor, and pushed the incident to a climax.
Different parties have their own words, and the controversy has been pushed to Luoshengmen, a "lowest price on the entire network".As the storms continue to spread, Jingdong, which first launched the attack, has also surfaced.
Jingdong urgently need a "Double 11" victory?
On January 27 this year, after the stock price of JD Hong Kong's stock rose to HK $ 248 (about S $ 43.47) reached its peak, it fell all the way. In the past nine months, it has fallen by more than 55%.
JD.com's performance in the US stock market is also unsatisfactory, and the two other major e -commerce giants Ali and Pinduoduo are farther and farther.Since the beginning of this year, JD.com's stock price has fallen more than 50%, which has fallen by more than 70%compared with the high point in February 2021.
As of Wednesday (October 25), JD.com was $ 24.64 (about S $ 33.78) per share, with a total market value of 38.773 billion US dollars, less than one -third of Pinduoduo and one -fifth of Ali.
The stock price of the end of the end has caused Jingdong's founder Liu Qiangdong to shrink sharply.The 2023 Hurun Rich List released by the Hurun Research Institute showed that the value of Liu Qiangdong and Zhang Zetian has shrunk to 60 billion yuan (about S $ 11.2 billion), a year -on -year decrease of 43%, and the ranking decreased by 36.
Just two weeks ago, Jingdong Hong Kong stocks encountered the largest decline this year.On the morning of October 13th, the JD Hong Kong stocks fell 12.06%to HK $ 103.5, and it evaporated more than 40 billion yuan a day, setting a new low since the listing of JD.com.
Subsequently, JD issued a statement saying that there was a rumor that "the businessman of the Liu surname was suspected of being caught in illegal", and the rumor was deliberately published by the ulterior motives under the dynamics of JD.com to confuse audiovisual and manipulate public opinion.Jingdong expressed strong indignation and had reported the case to the public security organs.
However, the rumor statement did not help Jingdong stop bleeding.JD.com also fell to $ 24 per share on Monday (October 23), a new low of nearly four years.
The rumor statement may be just the shame of JD. The decline in the company's stock price is more related to it. It is not optimistic about it in the investment market.
First Financial quoted Broadcom's senior analyst Wang Pengbo, a senior analyst at the financial industry, said that due to the low rating of JD.com, the market confidence was insufficient and the stock price was dive.
Financial Company McGonaguy's rating of JD Group's Hong Kong stocks to neutrality on October 13, with a target price of HK $ 124.Morgan Stanley raised the JD Group ADR rating on the same day to a flat match, with a target price of $ 33.
Nomura publishes a report, which is expected to increase by 1%year -on -year revenue to RMB 246 billion.The bank is estimated that the revenue of JD.com is on the year -on -year revenue of RMB 21.1 billion, 4%lower than market expectations.
The market is not optimistic, and the competition in e -commerce is becoming more intense. For Jingdong, who is going to recover the unfavorable situation, the upcoming "Double 11" is a tough battle, and it is also a victory that it urgently needsEssence
JD.com's dilemma
If the "Double 11" has won, it may help JD.com, but it cannot cover up the structural dilemma of JD in recent years.
From the perspective of the environment, Jingdong's competitive environment is becoming increasingly fierce.JD.com, who has been overtaken by Pinduoduo, has faced new forces such as Douyin and Xiaohongshu.
From the perspective of the sales model, the live broadcast room that occupied major platforms in recent years is exactly the shortcomings of Jingdong.Due to the different positioning of the live broadcast, JD.com's live e -commerce business lacks strong appealing anchors, and also lacks the running of merchants. It was thrown out by other platforms on the live broadcast track.
Affected by the Chinese economy, JD.com is good at large -piece commodity consumption such as 3C (Computer Computer, Communication Communication, and Consumer Consumer Electronic Products), and it is not in line with the live broadcast model. As a result, JD.com's growth is especially retail in retail.The performance of the industry is unsatisfactory.
JD.com recorded revenue of RMB 530.887 billion in the first half of this year, an increase of 4.65%year -on -year, but the growth rate slowed down, a decrease of 6.34 percentage points from the same period last year.And its main competitor Pinduoduo, the revenue growth rate in the first half of the year was as high as 62.79%.
JD.com's second quarter financial report released in August shows that the company's revenue was 287.9 billion yuan, an increase of 7.6%year -on -year, but the profit of JD.com's retail sector fell 0.2 percentage points year -on -year to 3.2%.
In addition, after Liu Qiangdong returned strongly last November, Liu Qiangdong dominated a series of changes in Jingdong.It aims to seek growth, but the transformation is still in the exploration stage.
Some analysts believe that there is a certain strategic swing in Jingdong in terms of sinking markets and live broadcasts.In May this year, there were differences between Xu Lei and Liu Qiangdong, a retired JD Group, who retired in May this year.
Low price is JD.com's only basic weapon?
China's economic recovery is weak and consumer confidence is insufficient. Many investment institutions believe that low prices are becoming an e -commerce sales trend.Morgan Stanley analysts said in the report that in the existing economic environment, if JD.com cannot successfully implement a low -cost strategy, its structural position in the Chinese e -commerce market will be impacted.
After the return of Liu Qiangdong last year, it was clear that the "low price" was the most important strategy of JD Retail in the next three years and the "only basic weapon". It was also the core of JD.com's "Double 11".
After Xu Lei left, Xu Ran, the new CEO, also repeatedly emphasized the "low price" and fully implemented the "sinking market" strategy.
But Jingdong's low -cost strategy has not splashed too much.On the one hand, platforms such as Pinduoduo and Douyin, which have long -term low -cost Pinduoduo, and Douyin have occupied most of the sinking market share and exacerbated competition.
On the other hand, low -cost strategies need to introduce more third -party small and medium businesses and reduce logistics costs. This requires more time and cost to turn around for JD.com, which is mainly self -employed and warehouse -matching models.
Reliable quality and stable logistics have been the sign of JD.com, and it is also a symbol of China's middle -class consumption.However, with the decline in China's overall consumption and several rounds of shuffling of the e -commerce environment, JD.com is understandable to kill the bleeding path through the "low price", but does the low price mean that it will be discounted in quality? This is left to JD.com.A problem.
