In the past two years, Vipshop, which was once considered a "niche", has quietly become a treasure app for young people, and many people have installed Vipshop in their mobile phones, in addition to Tmall JD.com. However, what people didn't expect is that this e-commerce, which has no volume advantage compared with Tmall JD.com, is now favored by many capitals.
Recently, its 2023 annual financial report was released, and Vipshop released a stable and positive signal in terms of performance. According to the data, in 2023, Vipshop will achieve a net revenue of 112.9 billion yuan, a year-on-year increase of 94%。Number of orders 812.3 billion, a year-on-year increase of 98%。
At the same time, it has also received a steady increase in popularity. Its financial report disclosed that the number of active users on the platform reached 87.4 million last year, an increase of 3% year-on-year9%, and the more critical SVIP active users increased by 13% year-on-year, contributing 45% of online spending.
In the past year, consumption has recovered, and the e-commerce industry has been fighting, and the overall industry environment is complex and uncertainties have increased. However, in this context, compared with the ups and downs of many peers, Vipshop has achieved steady progress.
After the results were announced, more than 20 brokerage institutions such as Citigroup, JPMorgan Chase, CITIC**, and China Merchants gave Vipshop a rating of "**" or "highly recommended".
At the same time, a number of institutions have raised the target price of Vipshop, among them, China Merchants ** raised the target price to 25$06 per share. Huatai** pointed out that Vipshop is expected to further enhance its valuation attractiveness.
The fact that the capital is so optimistic directly shows that Vipshop has a promising future. Although it does not have the advantage of volume and scale, it has still found a path of high-quality development. Capital has always been vicious, and they may have seen changes in the general environment.
For example, clothing consumption, as an "eternal sunrise industry", is the first to recover its elasticity in the recovery of consumption, and consumers have a preference for this type of goods. According to Mojing's insight, in 2023, there will be more differentiation among various categories, and the growth rate of optional consumption (clothing, jewelry, sporting goods) will remain at a relatively fast level.
Last year, the GMV of Vipshop's wearable products increased by 24% compared with 2022. In other words, Vipshop is "running smoothly", and the accelerated recovery of clothing consumption has played a huge role.
On the other hand, young people's consumption outlook has also changed in the past two years. In the past, young people tended to spend face, and were not very interested in discount retail, thinking that there was no need to discount when they bought big brands, but now their attitude has suddenly changed, and they must be discounted when buying big brands.
On social platforms, 7 out of 10 young people spend money to pay attention to cost performance, young people don't like to change their mobile phones, young people like to replace them, and other hot search topics appear frequently, pointing to consumers becoming more and more rational. Young people are increasingly seeing the essence of consumption and favor a better life at a lower cost.
In this way, Vipshop will focus on the best sale, selling good brand goods cheaply, which meets the cost-effective needs of consumers and catches up with the transformation of the consumption era.
All in all, Vipshop has the advantage of categories, built a moat, and at the same time enjoyed the dividends of the change in consumption trends. This is the ultimate reason for its popularity.