Why is the daily losses of fresh and fresh e -commerce, why is it difficult to solve the dilemma of the loss of fresh e -commerce?

On the fresh track with a high shuffle rate, another heavyweight player fell.

On July 28th, the daily freshness of the 30 -minute speed of the agent was shut down, which means that its core business "front -position warehouse model" is similar. Immediately, a 15 minutes and 40 -second company's internal conference recording was circulated on the Internet. The news that "Daily Fresh said that financing failed to deliver success, and the company's announcement of dissolution" caused heated discussions. With the spread of employees' salary, user refund, arrears of suppliers, etc., the daily freshness has been "the autumn of crisis".

In the past, Daily Youxian was also the "first share of fresh e -commerce" sought after by capital. Now the stock price is "falling" and has been crusched by suppliers, employees and users. Will the building fall? Is the daily failed failure of the "front warehouse model" of fresh e -commerce? In this regard, the reporter conducted interviews and analysis.

How far is the daily pretty freshness from blood transfusion to hematopoietic?

Frozen three feet, not a day cold. The daily predicament may have a sign.

Once upon a time, Daily Fresh is also the son of heaven and the darling of capital. According to the company's inspection APP, it is established in 2014 every day. It is a special specialty website focusing on high -quality fresh fresh. Investment institutions involve ICBC International, CICC Capital, Ti-Global Management (Tiger Global Fund), Tencent Investment, Lenovo Venture Capital, Goldman Sachs Group, etc. At present, Tencent is the second largest shareholder of Daily Fresh, accounting for 7.9%of the shares.

At that time, the financing was easy, and a large amount of hot money was put into the subsidy war. As long as it talks about the core concept of "front warehouse", investors still have patient waiting model to run through. In 2019, the daily fresh scenery is not two, and the founder Xu Zheng even announced a high -profile announcement that GMV (total product transaction) will reach 100 billion yuan in the next three years. In order to pull new, Daily Youxian launched a variety of half -price full reduction and free dishes, and became the industry's head players in the form of horse racing.

However, the capital market is cold. The daily financial report shows that since 2018, the daily fresh losses have a total of 10 billion yuan. In June 2021, Daily Fresh Land on Nasdaq, becoming the "Fresh E -commerce First Stock", with a issuance price of $ 13 per share. In April this year, the stock price fell below $ 1. In June, Nasdaq issued a delisting notice.

Without blood transfusion, hematopoietic failure and failure, the fall of the giants in the past came so quickly. On July 28, Daily Fresh financing failed to be successfully delivered, and the company's explosion would be dissolved. Daily staff responded that the company adjusted its business and organization under the goal of achieving profitability. The next day, Smart Vegetable Field, Retail Cloud and other businesses were not affected. Due to business adjustments and some employees have left, the company is currently actively seeking all possible solutions to ensure employee rights and interests to the greatest extent. On July 29, Xu Zheng, the founder of Daily Youxian, responded to the media: "I did not run, and I was still trying to find new financing and buyers."

Today's daily freshness still owes the supplier's money. The third quarterly report in 2021 shows that the net ownership of the daily unpaid suppliers of the freshness was 1.652 billion yuan, an increase of 34%of 1.088 billion yuan from the end of the third quarter of 2020. Finally, it is still unknown whether the daily freshness can be explained by the individual surface of suppliers, employees and customers.

It is easy to burn money subsidies, and it is difficult to make blood. The systemic dilemma of fresh e -commerce can be seen from the daily experience.

In addition to personal struggle, doing business is also inseparable from the historical process. Throughout the history of fresh e -commerce development, China's first fresh e -commerce platform "Yiguo.com" appeared in 2005. In 2013, capital and Internet giants poured into the fresh e -commerce track, and in the golden age of development in the next five years, such as daily fresh, Tmall Fresh, Bai Guo Garden, Yonghui Optimum, Hema Xiansheng, etc. The head platforms have been established. Capital cold winter arrived in 2018-2019. Fresh e -commerce driven by burning money did not have the "moat". When the industry was shuffled, players fell down.

In 2020, the epidemic brought a large number of fresh needs, and the business of the head platform began to develop rapidly. At the same time, the capital increased again. Meituan bought food, more vegetables, and orange heart preferably fierce competition. After 2021, the growth rate of fresh e -commerce has slowed down again. In order to reduce costs and increase efficiency, fresh e -commerce companies have layoffs, withdrawn, shut down stores, and shrink the front.

Today, the financing behavior of the fresh e -commerce track is decreasing. According to the incomplete statistics of Tianyan check data, nearly 500 brands in my country's fresh e -commerce track have produced more than 1,000 financing events. As of now, more than 10 financing incidents have occurred in the track in 2022, with a total financing of about 5 billion yuan, and the total financing was reduced by 50%compared with the same period of 2021.

The financing popularity is fading. How far is the fresh e -commerce in the reshuffle?

Is the cost of standing high in front of the front position?

The front warehouse refers to a small and medium -sized warehouse distribution center near the community, and provides a warehouse distribution model that is distributed as soon as 30 minutes from the center. In November 2015, Daily Youxian set up the first front warehouse in Beijing and gradually promoted the country.

Reading the daily prospectus, the concept of "(A+B) XN" was proposed. A refers to the current front warehouse model. B refers to a smart vegetable field and N refers to retail cloud services. Some people in the industry said that there is no problem with the strategy, but the vegetable market business, the next day, and the retail cloud service business are all profitable business in order to raise the front position business. Why do you implement the front position mode? According to the reporter's understanding, the front warehouse can shorten the delivery time, meet the consumers who need to be more effective for fresh distribution, and improve the consumer experience.

However, the front warehouse business is quite burned, because the performance cost is high. According to data from the Research Report of the Northeast Securities, the performance cost of the front warehouse model is as high as 10 yuan to 13 yuan/single, which is about three times the traditional center's e -commerce company, two times the platform e -commerce, and 6 times the community group purchase.

Daily Youxian's financial report shows that its core business has been in a loss state. From 2019 to 2020, the daily performance costs of excellent freshness were 1.239 billion yuan, 1.833 billion yuan, and 1.577 billion yuan, respectively, accounting for 34.9%, 30.5%and 25.7%of the company's current revenue ratios. Among them, the proportion of product delivery and warehouse operation related costs accounts for about 60 % of the performance costs.

"The most fundamental business business must be profitable for fresh e -commerce." Lai Yang, chief expert of the research base of Beijing International Trade Center, told reporters that if the survival of the enterprise depends on continuous financing, once the financing problem occurs, there will be problems with problems in financing. The capital chain is broken, and the huge empire is likely to collapse overnight.

The daily defeat is not entirely due to the front position mode, which is also related to its expansion strategy. In 2017, Daily Youxian suddenly entered the field of unmanned containers and established "convenient purchase"; in early 2022, the acquisition of unmanned sales machine companies "downstairs". From the perspective of an industry, many attempts to make a daily freshness are blindly chasing the air outlet, which is completely speculative.

In this regard, Lai Yang said: "If you want to make a profit, you need to control your own costs as much as possible, improve operating efficiency, improve the professional level in agricultural products, and pursue expansion and development under the protection of stable profits, so that the foundation is stable."

In addition, although fresh fresh needs, non -standard quality control, high loss, low gross profit, and high performance costs, resulting in high costs. Relevant industry reports show that the average gross profit of the fresh fresh industry is 15%, which is far lower than the high gross profit industries such as cosmetics.

Does the daily fresh failure mean that the forefront of fresh e -commerce is not available? actually not.

"Fresh e -commerce problems cannot be blame the front position model." Lai Yang believes that some fresh e -commerce companies have made a lot of effort in warehousing, logistics, and cold chain facilities, but they need to be strengthened in basic procurement links. If the cost of procurement is too high, the cost of operation is higher than the gross profit margin, which will be difficult to make a profit.

"The front position model can meet the user's real -time consumption needs in the fresh category. In the future, it will coexist with community group purchase models, home platform models, offline supermarkets and other formats to serve consumers differentiated needs." Zhuang Shuai, a special researcher at the Society E -Commerce Research Center and the founder of Bailian Consulting.

"The gameplay of the front warehouse may only become an organic part of the organic link in the overall link of the supply chain, and the cost of management may be reduced. To achieve this, the management of the supply chain must be fine "Said Chen Hudong, a special researcher at the Internet Electronic Commerce Research Center.

The market is calm down where should the fresh e -commerce companies go in the future

Even if the daily freshness falls, the competition in domestic fresh e -commerce is still fierce. Therefore, fresh e -commerce must focus on profitability, not storytelling. "The money was invested to produce, and to obtain customers." An industry researcher told reporters that the capital market in the past was not calm enough, and the investment was overheating, which would make entrepreneurs more blindly move and rush into speculation. "In the general trend of reducing costs and efficiency, money should be spent on the blade and spent on higher benefits, not blindly chasing the air." He said.

Of course, the market still has external objective difficulties. "The dilemma of fresh e -commerce is largely reflected by the pain points of my country's cold chain market -infrastructure, cold chain equipment, cold chain supply chain, etc. have great pain points to be resolved. Therefore, fresh e -commerce e -commerce companies The breakthrough cannot be relying on fresh e -commerce itself. It is necessary to rely on the marketization process of the entire development environment. It is necessary to consider it. "Chen Hudong said.

The importance of re -examining the company's own strategy and the importance of "self -healing" cannot be ignored. "Many enterprises have had management problems in rapid expansion. First, the strategic lack of scientific arguments for high -level decision -making; second, the management level settings are not scientific enough, the management of division of labor is not clear enough, and the problem of internal consumption or even commercial corruption, which makes the operating costs higher than the income than the income. Third, the operation and management of the enterprise does not have a deep cultivation advantage, but pays attention to more radical expansion and attract more investment, so as to occupy more markets. "Lai Yang said that fresh e -commerce needs to plan a more stable development strategy to ensure the core of the core to ensure the core The continuous profitability of the business will be expanded for new business.

■ China City News Reporter: Fang Ziwei

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