Industry player portrait: Based on the position of the rise of the e-commerce platform in the consumption decision-making chain, the position of the rise of the industry player type breeds the dislocation of the competitive advantage of the e-commerce platform, which in turn determines the speed and direction of the development of the e-commerce platform, and the Chinese e-commerce platform can be divided into two categories: 1) Traditional e-commerce platform: Rising in the downstream of the consumption decision-making chain, based on the rise of the shelf shopping model, basically occupying the top position in the industry, the representative players are Alibaba, JD.com, Pinduoduo, etc.: 2) Emerging e-commerce platforms: Rising in the upstream of the consumption decision-making chain, based on the rise of the content-driven shopping demand model, it is basically in the position of industry challenger, and the representative players include Douyin, Kuaishou, etc. Analysis of the characteristics of China's e-commerce platforms: 1) Development speed: At present, traditional e-commerce platforms are facing the pressure of peaking and slowing down in terms of user scale and GMV, but emerging e-commerce platforms are in a stage of rapid development as a whole, 2) Development direction: Traditional e-commerce platforms are penetrating into the e-commerce shopping mode upstream of the consumption decision-making chain (such as vigorously developing e-commerce live broadcast), while emerging e-commerce platforms are constantly penetrating into the e-commerce shopping model downstream of the consumption decision-making chain (such as establishing shelf shopping platforms). The development models of these two types of e-commerce platforms show a trend of mutual penetration.
Core changes in the development environment of the industry: Under the dual pressure of shrinking domestic consumption space and decreasing user traffic dividends, the excavation of the sinking market is expected to bring new and broad development space for e-commerce platforms, and players in the e-commerce industry have begun to pay attention to the competition of "low price advantage and service advantage" to meet the new opportunities and challenges of the industry.
Demand side: 1) Industry development space under pressure: Under the dual pressure of shrinking domestic consumption space and decreasing user flow dividends, the e-commerce industry is facing growth pressure; 2) The direction of industry development space expansion: China's sinking market population accounts for more than 60% of China's overall population, with the continuous progress of national construction, the social structure of the sinking market, e-commerce infrastructure and other aspects of the e-commerce development factors are accelerating the reconstruction, the sinking market will bring new opportunities for e-commerce platforms. Supply side: 1) "Advantage is king": The platform enhances the control of the best advantage by increasing the ecological construction of small and medium-sized businesses, so as to conform to the industry development trend of the winner with high quality and price; 2) "Service experience is king": As competition in the stock market continues to intensify, leading e-commerce platforms have raised the threshold for catch-ups to challenge their industry status through innovation in logistics and distribution service models such as half-day delivery & home delivery.
*: iResearch.
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