3 6 Ke·2024-02-04 00:59Core Insights - JD.com is facing anxiety regarding its position in the live e-commerce sector, as it attempts to recruit popular hosts like Dong Yuhui to enhance its live streaming capabilities [1][2][20] - The company is under pressure due to declining growth in its core e-commerce revenue, with a notable negative growth rate in Q3 2023, indicating a need to pivot towards live e-commerce to regain market share [3][16][17] Group 1: Live E-commerce Strategy - JD.com is actively seeking to recruit new hosts and has lowered the entry requirements for these positions, indicating a desperate attempt to compete in the live e-commerce space [2][20] - The company has recognized the importance of live e-commerce as a growth driver, especially as traditional e-commerce growth has plateaued [3][17] - Competitors like Douyin and Kuaishou have seen significant growth in their live e-commerce segments, with Douyin's GMV increasing by 277% year-on-year in 2023, highlighting the urgency for JD.com to catch up [3][20] Group 2: Financial Performance - JD.com's core product revenue saw a negative growth rate of 0.4% in Q3 2023, with its market capitalization reduced to one-fifth of Pinduoduo's [3][16] - The company reported total revenue of 750.79 billion, with a notable decline in the revenue from daily necessities, which is more susceptible to competition from live streaming and low-price e-commerce [16][17] - Despite some successful live streaming events, such as the record-breaking sales during the Double Eleven shopping festival, the momentum has not been sustained, indicating challenges in maintaining viewer engagement [18][19] Group 3: Competitive Landscape - JD.com is competing against established players like Taobao and Douyin, which have strong brand recognition and loyal audiences, making it difficult for JD.com to attract viewers to its live streams [20][21] - The company is aware that it needs to leverage its supply chain advantages to differentiate itself from competitors and create a unique value proposition in the live e-commerce space [21] - The live e-commerce industry is becoming increasingly competitive, with platforms like Xiaohongshu and WeChat's video accounts also gaining traction, further complicating JD.com's efforts to establish a foothold [20][21]