易支宝：未来十年电商增长密码（一）

Core Insights - The e-commerce industry is transitioning from a growth model based on "traffic × conversion rate × average order value" to a more complex formula that includes "vertical depth, brand power, user value, and organizational efficiency" for future competitiveness [1][3] Group 1: Market Trends - The e-commerce sector is entering a phase of stock competition, where broad-spectrum strategies are becoming ineffective, leading to a focus on vertical markets to create strong competitive barriers [4][6] - Companies that concentrate on niche markets can achieve higher user loyalty and expand their premium pricing capabilities, as demonstrated by a Hanfu brand in Yiwu that increased sales significantly by specializing in historical clothing categories [4] Group 2: Profitability Strategies - The industry is moving away from price wars, which lead to a zero-sum game, towards a focus on reasonable profits through value reconstruction, product innovation, and enhanced customer experiences [7] - An example is a women's clothing brand in Hangzhou that successfully increased prices while reducing return rates and boosting average order values, resulting in a doubling of profit margins [7][9] Group 3: Strategic Focus - The future of e-commerce competition will hinge on vertical depth rather than the breadth of product categories, emphasizing the importance of specialization to stand out in a crowded market [6]