How Much Larger Is Alibaba Than Jingdong?

Cai Chongxin, vice chairman of the board of directors of the group, was interviewed recently and asked about the evaluation of Jingdong. He said: "Jingdong is really not a competitor. Ali is six or seven times the size of Jingdong."

Cai Chongxin is right, but GMV is too deep. It's time to make it clear that Alibaba is bigger than Jingdong.

Alibaba is an ecosystem, including Taobao, Tmall, Juhuasuan and fast selling retail business. At present, the main business revenue contribution accounts for 77% of Alibaba.

Followed by cloud computing, Ali has the most potential business, Q2 revenue this year, 1 billion 243 million yuan.

The third is the number of media and entertainment business, Q2 revenue is 3 billion 135 million yuan.

In addition, Alibaba is still a big shareholder of ant gold clothing and rookie logistics network.

Although the new business revenue grew rapidly, it only accounted for 25% of Alibaba's total revenue, because it was in the stage of burning money.

Among them, cloud services were 158 million loss, net profit margin -13%, digital media and entertainment loss 996 million, net profit rate -32%, High German, nail and other basic Internet services loss 887 million, net profit margin -166%.

Of course, in addition to retail business,

Also have their own logistics, finance, cloud computing, O2O business, the so-called comparison, must be in the same latitude.

Cai Chongxin pointed out that the scale of pactions is six or seven times larger than that of Jingdong, mainly referring to Taobao.

Retail business.

Cai Chongxin was called the chief interpretation officer of Alibaba by investors, but apparently he did not make clear the six or seven times. How much more is Alibaba than Jingdong?

1, is the gap widening or narrowing?

2, what kinds of products are Ali and Jingdong stronger?

3. What is the retail sales volume of Alibaba?

The gap exists, but it is significantly narrowing.

Jingdong disclosed that the GMV in 2015 was 462 billion 700 million, the GMV on Alibaba's online retail platform was 2 trillion and 950 billion, and Ali was 6.4 times the volume of Jingdong.

If compared with the latest 2O16 Q2 performance, Ali GMV grew by 24% to 837 billion over the same period, Jingdong grew 47% to 160 billion 400 million over the same period, and Ali was 5.2 times the Jingdong.

Growth is slowing down, but Jingdong growth is still 1 times that of Alibaba, and the future gap will continue to shrink.

If you want to spend more time studying and analyzing, the volume of Jingdong pactions in 2009 is 4 billion, when Taobao / Tmall was 208 billion, and the latter was 52 times the former.

At that time, Jingdong was not really an opponent of Alibaba, nor did the latter care about Jingdong.

At that time, only Jingdong and so on followed the "double eleven", but from 2015, Alibaba also followed the trend of Jingdong to make 618 big promotion. When it came to "double eleven", it would require businessmen to "choose two teams".

If Alibaba does not take Jingdong seriously, there is no need to make such a great deal of trouble.

What kind of Alibaba do not do the Jingdong

A month ago, the well-known A brand was listed on the stock market. The report shows that between January 2016 and April, the Jingdong platform accounted for 46% of the sales of puppy electrical appliances, while the Ali platform accounted for 44.46%, while other channels accounted for 7.27%.

A brand born in Alibaba, Jingdong channel sales higher than Alibaba platform, indeed quite surprising.

A few days ago, I consulted a well-known fridge and air conditioner brand trader, who was told that the sales volume was 20%. Jingdong, Tmall and suning.com had 6:3:1 structure. Gome online could be ignored.

In addition, because Jingdong help channel sink, the growth rate of Jingdong platform is higher than that of Tmall and suning.com.

In the first half of 2016, the online home appliance market, Jingdong's market share was 44.9%, Tmall 36.1% ranked second, suning.com was 6.5%, Gome 5.9% and 1 store 4.3%, according to the report of the third party authority Research Institute of China.

Relying on logistics advantages, home appliance business, Jingdong is ahead of Tmall, forcing Alibaba to have strategic stake in Haier, and Suning sniping Jingdong threat.

In the business super category, in 2015, sales of Tmall supermarkets were about 10000000000, while Jingdong sales were 50 billion, while the latter was 5 times that of the former.

If Jingdong calculates the number 1 shop that has just acquired, the gap between the two will be even greater.

In July, he exchanged hands with an international milk powder brand trader. He revealed that their sales in Jingdong, Tmall and shop No. 1 were 45%, 18% and 18% respectively, and Suning red children accounted for 15%. This is a side confirmation that Jingdong supermarkets do better than cats.

The number of business super categories is very small. Jingdong far exceeds Tmall, and it is also the most widely burned Alibaba company with the most losses and catch up with Jingdong.

At present, 40% of all notebooks online and offline come from Jingdong, and the online market share is more than 60%.

In the mobile communications market, Jingdong accounts for more than 15% of the total market share, and the online market share is nearly half. Taobao Tmall plus suning.com estimates that the volume is almost the same as that of Jingdong.

In the 3C digital mobile communications category, Jingdong is also far ahead of Taobao Tmall.

With so many cases, it is not an attempt to prove that the overall size of Jingdong is bigger than that of Alibaba, because different categories have different performances and can not be compared with other companies.

For example, in the automotive, clothing, household products, Taobao Tmall can really ignore Jingdong, in addition, to Ali to contribute hundreds of millions of pactions of restaurants, hotels, recharge virtual services category, Jingdong basically not involved, Ali can also ignore.

So, the question is, how much of the Alibaba 3 trillion is physical trading volume?

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How much merchandise trade does Alibaba have?

Alibaba is a huge ecosystem. Omnipotent Taobao is all inclusive. But Alibaba has never disclosed the category structure of 3 trillion pactions. How much is the physical commodity trading of clothing department? How much is the hotel tour? How much is the virtual recharge of the fee flow card? How much is the catering service trade?

According to the latest financial report, in the first half of 2016, Alibaba's Taobao / Tmall retail sales volume (GMV) amounted to 15790 billion and Jingdong's turnover amounted to 289 billion.

The Ministry of Commerce announced in 2016 1-6 retail sales data (food and clothing), the online retail sales of physical goods online 18143 yuan, an increase of 26.6%, accounting for 11.6% of the total retail sales of social consumer goods.

Simple calculation: 18143 billion Taobao / Tmall 15790- Jingdong 289 billion =-537 billion.

No problem is found. Only the sum of pactions between Taobao and Jingdong exceeds the total retail sales of physical commodities in the Ministry of Commerce, which is not counted as hundreds of billions of sales of new American, vip.com, Suning and other electric providers.

The reasonable explanation is that the paction volume of Taobao and Jingdong needs to eliminate a large number of pactions of Hotel Tours and telephone virtual products services.

In the first half of 2016, the scale of Jingdong's physical commodity trading was 283 billion 600 million, and the 6 billion virtual product services of air tickets and hotel recharge accounted for 2.1%.

This year, Ali Q2 Taobao / Tmall and other retail platforms total paction volume of 837 billion, did not disclose the amount of air tickets, hotel charges and other pactions.

However, according to the rookie network data released by group affiliate of Ali, the average daily handling of 42 million parcels per quarter (without considering the repeated calculation of returns), Q2 handled 3 billion 822 million units, accounting for 51.09% of the 7 billion 480 million Q2 express data of the State Postal Administration.

Taobao has a total daily activity of about 170 million users (150 million mobile phones in May 2016, 41% of daily live users), UV conversion rate of 10%, 17 million orders per day (2.47 per person per package), assuming that the passenger price is 200 yuan (Dangdang and Ju Mei are more than 100, vip.com 280 left right, Jingdong more than 400), then the unit price of each package is 81.78 yuan (considering a large number of 81.78 yuan, the average price of the package is still very high).

There are 42 million parcels per day and 3 billion 434 million daily pactions. The retail trade volume in the second quarter is 312 billion 568 million yuan.

Then, who will reasonably explain the 524 billion 432 million gap between the two? The only reasonable explanation is that the volume of Alibaba pactions contains hundreds of billions of virtual products, hotel tours and other commodities trading volume, do not need to take logistics parcels.

Jingdong and Tmall are on the same scale.

It is time to make clear the difference between Alibaba and Jingdong in the field of commodity retailing.

In 2016, the Q2 Jingdong completed 373 million 400 thousand orders, about 1/10 of Alibaba's, and 3C of home appliances 3C digital communications. The unit price of goods is high, and the order price is almost 3-4 times that of the Alibaba.

Therefore, the real gap between Alibaba and Jingdong is about 2.5-3.3 times.

If Jingdong is just comparing Tmall, the volume is almost the same, rather than the two fold difference reported in the earnings report.

Alibaba is not difficult to be surpassed, as in many appliances, such as super 3C appliances, has been surpassed.

Alibaba made its own Tmall supermarket, meow fresh raw self-supporting, and invested in several warehousing and logistics companies such as Vientiane logistics.

Also said that he ignored Jingdong in retail business, "we have not reassured it", is deceiving ourselves!