On February 13, Beijing time, Vip.com (NYSE:VIPS), the world’s largest e-commerce trader listed on the US stock market, disclosed its unaudited fourth-quarter financial report as of December 31, 2017. The financial report shows that Weipin’s total net revenue in the fourth quarter reached 24.1 billion yuan (US$3.7 billion), a year-on-year increase of 27.1%, which is higher than the market expectation; according to non-GAAP accounting rules, Q4 belongs to the net profit of the shareholders of VIP.com. It was 888.1 million yuan. In the fourth quarter, the number of orders for Vipshop increased by 27% year-on-year to reach 104.2 million. The total number of orders in 2017 exceeded 300 million to reach 335 million.
Regarding the progress of strategic cooperation among Tencent, JD.com and Vipshop, which are generally concerned about the market, Weipin said that Tencent and JD.com will provide multiple platform traffic portals to VIP and share the traffic dividend. VIP will receive Tencent's WeChat Wallet entrance, Jingdong APP homepage and JD's WeChat shopping entrance.
Mr. Shen Ya, Chairman and Chief Executive Officer of Vipshop, said: “We are very pleased to see that the fourth-quarter performance of Vipshop continues to be robust in the fourth quarter of 2017. This quarter, we announced our strategic partnership with Tencent and JD. I believe This will make a significant contribution to our customer growth and market share breakthrough. We hope to introduce more worthy brands through this strategic cooperation and further strengthen our exposure in the global fashion industry."
Mr. Yang Dongzheng, the CFO of VIP, further stated: “In the fourth quarter of 2017, VIP's performance increased by 27% year-on-year, which is higher than the upper limit of the expected range. Thanks to the increase in customer loyalty and stickiness, VIP will per customer Consumption increased by 22% year-on-year. We believe that high-quality traffic from Tencent and JD.com will contribute to the growth of the company's performance and further promote the further realization of operating leverage in the long term."
The strength of core product categories continued to strengthen, and 96% of orders were repurchased by users.
Self-employed wear as the core category of Vipshop will continue to grow strongly in the fourth quarter. Vipshop will continue to position itself as the number one position in self-employed apparel industry. In the fourth quarter, the "11.11" and "12.8 Anniversary Celebrations" were twice promoted. Among them, “11.11†promoted the sale of only 1 hour, and the number of orders exceeded the 2 million mark. On that day, the number of “11.11†sales orders exceeded 8 million, a record high.
According to financial data, the total number of active users of Vipshop in 2017 was 57.8 million. In the fourth quarter, per capita consumption increased by 22% year-on-year, per capita orders increased by 22% year-on-year, subscriber repurchase rate reached 84%, 96% of orders were purchased by repeat customers, and VIP Club's customer base gained both quantity and quality. This stems from the fact that only VIP Club has always insisted on the route of genuine and quality e-commerce, and made adequate preparations when the domestic genuine e-commerce market ushered in the outbreak. In addition, Vipshop also launched super VIP services, vigorously expanded its cross-border merchandising sales business, focused on strong consumer power of new middle-class and post-90s young women, and vigorously explored the potential customer base. In 2017, the number of super VIP users was close to one million.
Strengthen the "genuine + fashion" model, the continued deepening of the advantages of quality e-commerce
Vipshop will insist on self-producing and lead the development of quality e-commerce industry with the “genuine + fashion†model. Its "Authentic Tenfold Protection," "Quality Control," and "Authenticated Talent Inspection" programs provide users with tangible quality assurance, and also enable Weipin to gain industry and consumer acceptance. In 2017, Analysys released a report entitled “Inheriting Quality of Life, The Road to Genuine E-Commerce Development†pointed out that with the implementation of a series of genuine safeguard measures, the idea of ​​genuine E-commerce development that VIP will uphold has been at the high ground of e-commerce development, and its representative The "genuine sale" model is also leading the e-commerce industry towards a healthy and standardized development path.
At the same time, Vipshop will continue to devote its efforts to the field of fashion, deepen brand cooperation, provide more quality goods for Chinese consumers in the era of consumption upgrade, and meet their needs from “buying affordable†to “buying quality†and “buying personalitiesâ€. In the “12.8 Anniversary Celebration†of Vipshop, nearly 3,600 brands participated in the event, which was a year-on-year increase of 122%. This shows the strength of the VIP platform and the value it brings to the brand. Since the fourth quarter of 2017, following the opening of the official flagship store by the companies such as Armani and Versace, LVMH Group officially entered the Vipshop with its brand Marc Jacobs. The brands of 3.1 Phillip Lim, Juicy Couture and Shanghai Beach also successively launched official cooperation with Vipshop. Recently, Hermès’s brand “Up and Down†and Furla, the Italian fashion leather goods brand, have confirmed that they will open an official flagship store at Vipshop. In addition, Vipshop has also become an exclusive home appliance business partner of London Fashion Week and London Men's Fashion Week. It has reached a strategic cooperation with fashion COSMO and set sail on the “Beauty Beauty Trip†in 2018 to launch a series of cross-border marketing campaigns to strengthen fashion genes. .
As a socially responsible company, Vipshop will use its resources and platform advantages in the field of apparel wear and fashion to push for a new economy that is indispensable to poverty alleviation and practise e-commerce's mission of accurate poverty alleviation. Since 2017, Vipshop has partnered with the China Women’s Development Foundation to donate two “Love-Mother Manufacture Cooperatives†in Qinghai and Guizhou. In the fourth quarter, the “Abandoned Everything Lichun Public Welfare Special†on the line of Weipin E-commerce Poverty Alleviation Channel “Only Love Workshop†was the largest non-exclusive venue on the market so far, and sales proceeds will be used to help poverty inevitably. Craftsman. Vipshop will build an e-commerce platform to take advantage of the advantages of an e-commerce platform to build a new eco-economic circle for poverty alleviation and poverty alleviation. It will create a new economic chain of non-indigenous poverty alleviation that integrates production, research and sales, and delivers a more innovative and fashionable public benefit. Image.
The financial and logistics layout continues to advance and the strategic matrix has achieved remarkable results
Vipshop, the financial services platform of Vipshop, has also found its own areas of development and developed a variety of star financial products to help the development of Vipshop. In the fourth quarter of 2017, the number of customers who used Dilihuahua reached 5 million, an increase of 107% over the same period of the previous year. Currently, VIP Financial has already possessed payment licenses, factoring licenses and small loan licenses, and spin-off financing is also being promoted in an orderly manner.
Relying on the background of Vipshop e-commerce platform, Vipfin Financial has unique advantages in crowds and huge scene advantages, and can continue to dig the value of Vipshop Mall and users in finance, providing supply chain finance, consumer finance, payment, etc. Various financial services such as wealth management, internet insurance, and credit information. Taking the "12.8 Anniversary Celebration" of 2017 Vipshop as an example, the number of users who use Wei Pinhua increased by 104% from the same period of last year, and the average customer unit price paid by using Wei Pinhua was 41% higher than that of non-VIP users, effectively pulling The average customer unit price of mall users improves user activity and stickiness.
At the same time, Vip Finance is also actively expanding its business in non-VIP products and reaching in-depth cooperation with financial institutions. While exploring the future financial technology imagination and promoting business innovation, it combines its advantages in online operation experience, technology research and development capabilities, users, and scenarios to provide users with more innovative financial services.
In terms of logistics, VIP will continue to improve the logistics system. Vipshop has established five logistics and warehousing centers in South China, North China, Southwest, Central China, and East China; in the fourth quarter, Vipshop added a pre-position warehouse in Quanzhou. As of December 31, 2017, Vipshop will own a total of There are 15 pre-position warehouses in Xi'an, Guiyang, Kunming, Jinan, Fujian, Shenyang, and Nanning. In addition, Vipshop has expanded overseas positions in Italy and the UK in addition to Tokyo in Japan, Seoul in South Korea, Paris in France, and New York in the United States. Currently, it has approximately 53,000 square meters of overseas warehouses. In the fourth quarter, the company's total storage space increased to about 2.5 million square meters, of which 1.5 million square meters were self-built. Junjun Express has more than 3,700 direct operating sites, and the number of couriers has increased by about 3,000. The total number of courier employees in various provinces and regions in China exceeds 30,000.
As technology enhances the effectiveness, VIP will also fully upgrade its logistics automation system. The upgrade of logistics automation, such as the Honeycomb E-Commerce 4.0 system, intelligent express unmanned vehicle delivery system, intelligent AGV transfer robot, Miniload collection system, merchandise sorting system, parcel sorting system, and Rubik's cube-intensive storage system, has greatly enhanced Vipshop. Warehousing automation capabilities at the same time reduce operating costs, for the e-commerce logistics and distribution services to lay a solid foundation.
Sharing the flow of dividends, collaborating to explore the imagination of the industry
After Vipshop announced its strategic cooperation with Tencent and Jingdong in December 2017, details of the specific cooperation between the three parties were further finalized. Among them, the social giant Tencent will provide WeChat wallet access for the VIP Club. Currently, the WeChat wallet entrance is under testing. After the end of the internal testing and experience optimization, it will be fully launched. This means that VIP will seamlessly connect WeChat with 988 million monthly live subscribers and WeChat to pay more than 800 million subscribers, effectively realizing the multi-dimensional effect of acquiring traffic, attracting new customers, enriching daily life, and increasing sales.
The JD.com APP homepage and JD.com's WeChat shopping portal are also about to open to Vipshop. While effective in promoting the flow of Vipshop, the two parties will cooperate with each other in terms of category, customer base, and strategic resources through extremely strong complementarities. Among them, the VIP Club's clothing wear core category, beauty category and JD.com's 3C digital category will complement each other. In addition, the VIP Club's over 80% of the female customer base will also be integrated with Jingdong’s male customer base. Provide business advantages for each other, inspire more opportunities for e-commerce, continue to bring higher value to consumers and a better user experience.
Mr. Shen Ya, chairman and chief executive officer of Vipshop, believes: “The future belongs to ecology. Only open cooperation can achieve win-win situation. The three-party strategic cooperation will improve the efficiency of resource utilization of the entire e-commerce industry, and accelerate the e-commerce to platform and intelligence. And resources transformation, promote the optimization of resources allocation and information sharing in the e-commerce industry, accelerate the establishment of e-commerce eco-service platforms for multi-channel ports and all-class customers, and promote the overall development of the e-commerce industry, expanding the wider industry. imagination."
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