around the earnings report, showing the Alibaba’s total outbreak of anxiety disorders. The next few quarters, the legendary Ali strong fighting force will be tested, and Jingdong will face the biggest challenge since listing.

yesterday in after the release of the new quarter earnings as of the end of September, the Chinese media coverage of the news of the information implied by the angle, even more than the financial figures themselves. On the earnings per se, Yin Sheng yesterday in the good earnings may be a good time to sell Ali shares in the analysis, this article will focus on the interpretation of media reports.

Although the various media coverage of

is not the same, but the basic can be summarized as a theme – Alibaba’s Jingdong anxiety disorder finally broke out. Here are some representative views.

view 1: Tmall a quarterly increase in the amount of the transaction is equivalent to the total turnover of Jingdong

interpretation: Alibaba apparently aware of the bad time "let Taobao Jingdong take advantage of using Tmall to turn to the digestion of Jingdong quality impression and shopping habits. If it can really take advantage of the internationalization of the first mover advantage, attracting enough overseas boutique to Tmall shop, no doubt will attract high-end users of Jingdong. But the problem is that it must solve the experience gap caused by logistics outsourcing, as well as the user’s no complaints harassment breakthrough.

Comparison of

on transactions, this interpretation could be: the overall transaction volume, Jingdong share erosion Ali is an indisputable fact, Ali this quarter of the overall retail business turnover growth of 28%, even lower than the same period in the growth of the overall market, while the Jingdong growth is at least two times, which means the Jingdong gained more market share from the new. But Jingdong turnover growth may be only slightly faster than Tmall.

view 2: Ali electricity supplier per capita output value of 142 million 600 thousand yuan, is Jingdong’s

times 105

interpretation: this comparison is not reasonable, after all, the Jingdong more than 80 thousand employees, more than half of all logistics personnel. More out of this part of the people, so that Jingdong has become much heavier than Ali, but it is precisely this point in the light of its asset model, earn easy money on the site of Ali, to build their own camp. The final of the competition, than the overall input-output of logistics outsourcing and private mode, including at cost, speed and delivery of customer satisfaction.

view 3: Tmall’s rapid growth proved the success of Ali’s Beijing strategy

interpretation: the Jingdong in order to cure anxiety, Ali is indeed under the foot of the capital, even let Tmall set up the "Beijing + Hangzhou" double — the headquarters of this point to believe in "water and expensive" Ma, needs great courage, but will camp to the Jingdong’s doorstep, is also good. But given the dual headquarters position and strategic success is different, the real success must be based on the digestion of Jingdong "quality shopping" impressions and habits, rather than the one or two promotion will be able to assert.


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