零售行业上市公司盈利模式分析—以苏宁易购为例

零售行业上市公司盈利模式分析一以苏宁易购为例中文摘要在消费方式多样化、互联网行业不断发展的今天，传统的线下零售店铺产业和线上零售电商产业在发展过程中遇到了诸多问题。线上零售产业占比快速增长，线下实体零售店也被迫进行改革。苏宁易购是国内家电零售业的领军者，其新零售模式在很大程度上结合了自身的发展特点和外部环境。因此，本文从信息不对称理论和核心竞争力理论出发，对苏宁易购的盈利模式做详尽分析。首先，通过分析该企业零售模式的发展历程和商业结构，可以清楚地看到苏宁易购是如何从传统零售模式发展到新的零售模式的。其次，结合苏宁易购自身的盈利模式，与京东和国美两个企业从财务角度、非财务角度对比研究，财务角度将从偿债、营运、盈利三方面分析得出苏宁易购的资产结构得到了改善，销售业绩得到了提升，但同时也面临着偿债压力、财务风险加大、经营能力下降、核心业务利润率下降等问题。非财务角度将从顾客价值、员工学习成长两个层面进行分析得出苏宁易购的整体业绩很好，市场占有率和顾客满意度都得到了提高，通过整合渠道、提升供应链物流效率，巩固其在业界的地位与品牌价值，同时还强化了员工的训练与学习。最后，根据分析得出，希望苏宁易购能够在“新零售”的大变革中，抓住机遇，降低经营成本，调整投资策略、优化线下业务，提升盈利特色、开发新兴市场、完善售后服务体系，提升客户满意度。从而推进实体零售与电子商务的融合及共同发展，为其它零售业的发展提供参考。关键词：盈利模式；新零售：战略转型Research on the profit model of retail enterprises--Taking SuningTesco as an exampleAbstractWith the diversification of consumption patterns and the continuous development of theInternet industry,the traditional offline retail store industry and online retail e-commerceindustry have encountered many problems in the development process.The proportion of onlineretail industry is growing rapidly,and offline physical retail stores are also forced to reform.Suning Tesco is the leader of domestic home appliance retail industry.Its new retail modelcombines its own development characteristics and external environment to a great extent.Therefore,starting from the theory of information asymmetry and core competitiveness,thispaper makes a detailed analysis of the profit model of Suning Tesco.Firstly,by analyzing the development process and business structure of Suning Tesco'sretail model,we can clearly see how Suning Tesco has developed from the traditional retailmodel to the new retail model.Secondly,combined with Suning Tesco's own profit model,this paper makes a comparativestudy with jd.com and Gome from the financial and non-financial perspectives.From thefinancial perspective,it will be analyzed from the three aspects of solvency,operating capacityand profitability.It is concluded that Suning Tesco's asset structure has been improved and itssales performance has been improved,but it is also faced with debt repayment pressure,increased financial risk,reduced operating capacity The decline of profit margin of corebusiness.From the non-financial perspective,it will be analyzed from the two aspects ofcustomer value and employee learning and growth.It is concluded that Suning Tesco's overallperformance is very good,and its market share and customer satisfaction have been improved.By integrating channels and improving the logistics efficiency of the supply chain,it hasconsolidated its position and brand value in the industry,and strengthened the training andlearning of employees.Finally,according to the analysis,I hope Suning Tesco can seize the opportunity,reduceoperating costs,adjust investment strategies,optimize offline business,improve profitcharacteristics,develop emerging markets,improve after-sales service system and improvecustomer satisfaction in the great reform of "new retail".So as to promote the integration andcommon development of