vip.com was bleeding listed, but this year has risen more than 85%.

Lin

snowball Li Yan is a very serious business analyst, wrote love her very much, but she released the latest article "dangdang.com and vip.com: a" boundless one in a nice hobble, but hardly. Until now, I am also a value investor, from the perspective of value investment and e-commerce two angles to analyze the prospects of Dangdang and vip.com.

first, vip.com lacks long moat. Vip.com vice president Ma Xiaohui told reporters that the sale of the hidden threshold is very high, the real decision "sale" of success or failure, not flow, low price, but a strong brand resource support and get competitive discounts. But in fact, this statement is to support the growth of vip.com is the size effect and the first mover advantage.

currently, vip.com has more than 5000 employees, more than 300 experienced buyers, the past few years and accumulated tens of thousands of sale experience, brand more than 6000, of which the exclusive cooperation has been increased to 800." The problem is that these factors do not constitute a Jingdong on the mall, Dangdang, Amazon and other companies moat. Vip.com’s current profit model for the collection of the Commission’s sales commission, according to the analysis of its executives earnings conference call revealed that the proportion of the Commission received a commission of about 20%-26%." This profit is enough to attract more enterprises to enter the market.

Li Yan believes that the only product of the club to accumulate the relationship between suppliers, complex inventory management model, as well as user loyalty, Dangdang is not the end of the product club. In fact, Dangdang strategic losses in the Department Store e-commerce, once absorbed the advantages of flash purchase mode, it may be a real threat to vip.com. For the same foreign brand customers, Dangdang can help foreign brands to sell genuine, new, also for its sales. The foreign customer is the real value of the new market rather than the domestic market, with the accumulation of time, vip.com’s first mover advantage will be eroded Dangdang, Dangdang will give priority to foreign users rather than vip.com. This is a dynamic economics, static comparison of the advantages of vip.com and Dangdang will come to the opposite conclusion.

secondly, vip.com is not an open retail system and format. In fact, I was optimistic about vip.com’s business model, but also put forward earlier vip.com face Jingdong, Dangdang threat. I appreciate the vip.com, but because vip.com body with foreign trade enterprise gene rigorous and efficient; more importantly, I found the brand discount store Chinese abroad will leap from abroad, to buy discount brands such as GUCCI, rather on the line. Therefore, the use of e-commerce to copy the brand discount store format, the format as the core competitiveness of the play, destined to be promising.

but I also noticed that vip.com and starry, mainly hand-made. >