Business bottlenecks the market value of jumei com fell to about 3000000000 a year

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poly United States recently dished out a new film and television story in the market, to create fashion entertainment + electricity supplier, the new business model. At the same time, the United States and the United States shares recently fell to the lowest point in history, compared with the highest market value of the year fell to $about 3000000000 (Figure 1).

of course, there is a general concept stocks fell, China’s economic slowdown, as well as the impact of the A stock market crash several times, but it is more reflected in the United States is currently experiencing difficulties in the electricity supplier business. As for the new "story", in all the "digital" as the criterion of the capital market in the United States is an uncertain thing.


May 16, 2014, the United States before the Jingdong and the Alibaba listed on the American stock market, which has created a miracle in the electricity business: founded in 2010 and listed in just 4 years, and widespread losses in business enterprise under the condition that the United States had 7 consecutive quarters of profitability, called "wonderful". So, what happened to the United States today’s electricity supplier business problems?

trading and active user growth is weak, buy traffic but more expensive

from the beginning of the first quarter of 2014, the United States GMV began to decline, and maintained a relatively low level (Figure 2), impact of business transformation which, on this point in our previous article mentioned. But after the third quarter of 2014, quarterly (about GMV30% and a quarter of negative growth) the year-on-year growth in any case is justified, because this is even lower than the average growth rate of electricity industry.


GMV behind the growth unsatisfactory is the number of active users of sluggish growth (Figure 3).


but the cost of acquiring new users of the whole industry has become more and more high (Figure 4), although we do not have the United States the exact number, but a few industry big brother figure can also explain this problem to a large extent. This makes us want to simply to achieve rapid growth has become increasingly uneconomical by flow shop.


significantly improve the performance cost ratio, profitability indicators deteriorate

as a result of the open platform into self, as well as the investment in the area of duty-free shops, the United States and the United States began a sharp decline in gross margin (Figure 5). At the same time, the cross-border electricity supplier "speed duty-free shop" mode of high logistics cost makes the performance cost enterprises significantly increased (Figure 6), which makes the United States the profitability indicators (mainly refers to the operating profit margin and net interest rate) not only the rapid decline in the third quarter of 2015, and from positive to negative, this is.

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