At a time when “day beauty” is being questioned, there is good news from the tinkling of the same electrician track。
On 11 august, tinker bell issued a second-quarter performance report as at 30 june 2022. The report showed that tinker bell bought food at rmb 6. 63 billion for the quarter, an increase of 42. 8 per cent over the same period; net profits under non-united states general accounting standards (non-gaap) of rmb 20. 6 million were realized for the first time。
You're making money for the pre-sale-sale pattern
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However, food is still far from the bright future as a result of the loss-challenging bellies。
On the one hand, tinker bell buying food has recently been a cause for concern over the challenges of “evacuation” and “retrenchment”. If tinker bell’s current financial performance is to benefit from the “cost-end optimization” of a broken arm to survive, it is clear that it is difficult to last and does not work well; on the other hand, the central issue remains whether the front-loading model can run and find a stable and sustainable profit model。
Today, the daily eugenicity has faded, and external doubts about the forward silo model will only increase. At the same time, the growth of the epidemic on performance is not stable, long-term, and in the future, only a healthy and sustainable way of cutting costs will be found to buy food, and to improve their own performance, as well as a better technical and product capacity in the “buy-up” business, which will make it possible to meet a high-profile and busy dawn。
The withdrawal of the city's employees will only release the "near thirst" and leave the epidemic behind to see more authentic responses
On the revenue side, the pick-up and gmv (commodity trade totals) during the second quarter of this year were good。
During the period under review, a total of $6. 63 billion was received by tinker bell, an increase of 42. 8 per cent over the same period and a 21. 9 per cent increase in the ring. In its performance report, tinker bell was attributed to the increase in the average value of orders and the increase in subscriptions by members. In terms of sales, gmv was $7. 12 billion, an increase of 32. 3 per cent over the same period and 21. 6 per cent over the ring. In the outside world, the outbreak of a new coronary epidemic in a front-line city in shanghai “better than worse” for online buying of vegetables has led to higher performance by fresh electricists, such as tinker bell, but this push is unsustainable in the future。
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The problems in reality are more complex。
According to the associated press, ting tong buys food to leave the city this year successively, including cities such as anhui shin city, chuzhou, guangdong middle mountain and chuhai, with information on redundancies and further optimization of costs, leading to losses and gains. This means that tinker bell buys food with a loss and must face a question: is this due to significant improvements in the cost structure, or is it due to short-term stimulus from the contraction of operations? This needs to be observed in a longer time dimension。
Similarly, the increase in collections and gmvs requires detailed data on the volume of orders and the number of clients。
From this perspective, it is more informative to leave out the data on the epidemic。
In the first half of the year, it has been reported that tinker bell-buying triangular region earnings increased by 47. 9 per cent and achieved a positive operating profit of 3. 7 per cent. For example, the sea above. In may 2017, tink bought food in shanghai and opened a city, followed by flowers in cities such as hangzhou. In december of last year, the year-on-year run-down pick-up was the first to achieve overall profitability in the shanghai region. In this spring's new coronary epidemic, a large number of users have acquired goods such as fresh products through tinkering, and many consumers have chosen to buy more (i. E. To raise the price of a guest unit) and to open up members (i. E. To raise the income from non-products, i. E. Services)。
Burning money isn't a problem. It's a problem to prove a forward silo
Ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding-ding. Imaged as 100 per cent of the live supermarkets sold online, a small warehouse built close to the residential community can achieve rapid delivery. This is one of the main differences between the model of their association with a store, the model of the kyodong-to-home business, and the model of community group purchase, such as the popular selection。
Traditional warehouses are distinct from consumers, often close to consumers, mostly within 3 km. While this ensures the timeliness of fresh products, it also saves operating costs. However, the cost of the under-line store is saved, but the cost of performance is coming up: the cost of tinkled food purchases is not only the cost of buying fresh commodities, but also the cost of pre-silo rents, cold-chain logistics, labour, distribution, etc., which are also key to the pre-silo model。
By its very nature, a forward silo provides a balance between time costs and commodity prices. Specifically, in the business of buying vegetables, it is “good prices, fast distribution times, fresh things”. In itself, there are a number of characteristics: low per capita prices, low māori rates, but it is a demand-intensive, high consumption frequency and difficult to distribute. This brings with it a problem that cannot be solved by burning money。
The essence of money-burning is that it is a business model that hires customers through subsidy policies, builds “infrastructure” and ultimately transforms ordinary people into “residents” on this business map (culture of consumption habits, construction of industrial ecology, etc.) and then realizes it. In some platform-based economic services, or on a web-based purchase of non-living goods, it can often achieve “marginal cost erosion” — starting with the need for larger fixed cost inputs, waiting for the scale effect phase, with the cost of additional units of production becoming lower over time。
However, the pre-positioning model of a fresh power provider often shows a completely different side: marginal costs are hardly declining。
Freshness requires very costly cold-chain logistics, which, if not sold in a short period of time, is subject to stock impairment. To be white is to rot — and compared to the one-size-fits-all judgment of whether clothes are good, the freshness is gradual, and some of the products are delivered a few hours early, bringing different consumer experiences. This requires strong inventory management capacity。
The increase in orders is theoretically affordable, but in the fresh industries, if managed and operated poorly, it is likely that costs will be pushed up. Compared to other industries, it is clear that they are in an awkward position. For example, in catering, while everyone is in the business of low per capita prices, high demand, high consumption and high distribution speed, it is clear that the distribution of meals is less difficult — the rider is leaving with the delivery。
A comparison of the characteristics of different industries
Fresh electricians, one in the supply chain, one in the distribution chain. Tink buys basic dishes, with little competitive threshold and technical barriers to large firms like the corporat and kyoto; but in turn, it is difficult to easily access the corporat and kyoto-dominated markets. First, the need for fresh suppliers to maintain their attractiveness and bargaining power to suppliers, with annual losses and extended periods of account affecting the confidence of suppliers; and second, the fact that supply chain construction often requires a large amount of “capital” work, which requires significant financial and human investment, and that cross-cutting giants tend to have greater size advantages than those that break down the tracks。
An instant retail like this is similar to a take-out, and since everyone earns so little on an order, profits are saved — high performance costs directly erode profits. Cost reduction, external financing, or strategic losses, can be reversed through other operations. The cost of distribution may be even lower for the next day, when consumers have to offer their own purchases。
According to the zhexican securities research, the united states mission was profitable for the first time in 19q2, with an average daily order of $22. 9 million and a single rider cost of $7. 5 per unit. In 2021, the team calculated that the cost of the united states mission was 7. 1, 18. 8 and $22. 9/sing, respectively. The united states mission's out-of-home distributors were large, and that the capacity between the delivery and instant retail was interchangeable。
Comparison of the cost of the united states mission's 1p, tink, and kyoto's home distribution in 2021
In the face of the inherent compliance costs of business models, it is clear that the tinkling of deep-farmers does not have much advantage。
Burning money is not a problem. The problem is that the pre-position model can prove itself. It is also good, to some extent, if money-burning can create a viable business model that ultimately meets consumer needs, improves consumer experience, and achieves the legitimate profitability of enterprises, and even promotes productivity development. But if burning money is simply burning money and business logic is not running, it will not last。
At the heart of the forward silo model lies the ability to address the high cost of performance。
According to the data, the “performance fee” for the second quarter of tinker bell's food purchases was rmb 1,541. 8 million, a decrease of 9 per cent over the same period; sales and marketing costs were rmb 146. 7 million, a decrease of 64. 2 per cent over the same period; and general and administrative expenditure was rmb 153. 5 million, a decrease of 49. 9 per cent over the same period. Whether or not the pre-position model can prove itself requires a longer cycle to determine whether the single-quarter data is insufficient, in addition to the epidemic and the downsizing of the city。
Ding-dong buys food
Open source or throttle. It's a question
In essence, profits come from lower costs, or more income。
From the consumer side, consumers in the market do not need to use channels such as fresh generators. It was born to determine that, for quite some time, the main battleground for tinkles was beijing, shanghai and even beyond. The question of whether to expand or contract is to be considered in the back of divestment and layoffs。
If it shrinks, focusing only on “some kind of food” in the area of fresh power suppliers, such as shanghai, it is likely that it will become “shanghai buys” or “long triangle buys”; and the overall market contraction will also require a breakdown of market forces — for example, for white-collar consumers, would it be more competitive to deliver better-quality, high-end fruit products in the same distribution time, than for white-collar consumers in half an hour
If expansion targets second-line urban users in larger markets, the number of pre-positions is bound to be influenced by the level of urban economic development and the number of suitable cities is limited. Without being destined to be a national business, fresh producers need to reasonably select the cities to be awarded and develop more scientific, careful and prudent localization policies, which cannot be solved by burning money。
There is a need to find a point of convergence on issues such as raising the price of a customer unit, raising the māori rate or increasing the order density, optimizing the cost of performance, and pre-positioning the buying of vegetables。
The lower number of riders' orders leads to a significant high cost of single distribution
In the difficult circumstances of the forward-silo model, it can be seen that there are attempts being made, for example, to buy tinkles. To a large extent, this can be considered a good thing. In addition to the continuous improvement of the quality of pre-vegetable products and the search for strategies such as the second growth curve, other perspectives also provide some thought。
New and fresh electricists, community groups, are all internet or platform companies that are “robbery business” with vegetable vendors. The pain is that companies and enterprises have not really allowed technology to play their part in this process, but simply to allow capital to go into circles. “build money” harms vegetable traders, “years of loss” harms businesses and investors, and ultimately leaves consumers to pay。
The pre-position model wants to prove itself that if the method chosen is to be optimized in areas with high order density and high cost per capita, it will place higher demands on artificial intelligence and capabilities such as large data, and that firms can improve efficiency, reduce waste and optimize output to the greatest extent possible through better production management tools, perhaps this is what is often termed a “digitized transition”; and that if they work on smart machinery and intelligent agriculture to achieve much lower losses than traditional fresh business practices, while controlling much more goods than ordinary fresh ecology, they may also win a better reputation among consumers。
This is not far: the use of technology and big data can reduce the cost of supply chains, which means an increase in maori space; a more intelligent circulation distribution network, with less time from central warehouse, forward warehouse, distributor to consumer; and a lower cost of loss and better quality if storage, logistics equipment can be more intelligent, economical and integrated movement of fresh products and distribution distance can be more scientific。
The essence of burning money is the circle, the exclusive struggle of you to die. It may be a time for change before the low-profit business of selling vegetables. In many business models based on money burning, the phenomenon of “sizing on scale, not profit”, “marketing alone, not symbiotic cooperation” has often been unhealthy in nature, after all, when a monopoly was formed, the injured were consumers. This may be more desirable if enterprises focus more on profitability than on market ownership, while at the same time being able to work together with other firms to complement each other's strengths in terms of flows, costs, product supply and logistics, and to use time and space for the future, bringing business back to business itself。
Coming out of the thinking framework of “smuggling for business” with small-scale vendors, chinese enterprises should move more closely towards technological and commercial innovation。
