2024年中国电商市场研究报告

Industry Investment Rating - The report does not explicitly provide an overall investment rating for the Chinese e-commerce market [1][2] Core Views - The Chinese e-commerce market has entered a bottleneck period, but there are still structural growth opportunities driven by demand for improved quality of life and category development [2] - Consumer demand is increasingly stratified, with a focus on cost-effectiveness, but there is still a significant market for premium and unique products [10][11] - The supply side is dominated by a存量 market, with growth pressure increasing, but opportunities remain in areas like outdoor sports and silver economy [15][18] Supply and Demand Changes Demand Side - Consumer demand is becoming more stratified, with a focus on cost-effectiveness, but there is still a significant market for premium and unique products [10][11] - Categories driven by quality-of-life improvements, such as outdoor sports and silver economy, show strong growth potential [13][18] Supply Side - The e-commerce market is entering a存量 market phase, with growth pressure increasing [15] - Traditional e-commerce growth is slowing, while live-streaming e-commerce, though still growing, is also experiencing a slowdown [15][16] - Despite overall market pressure, there are still opportunities in categories like outdoor sports and health-related products [18] Platform Strategy Changes - In 2023, platforms like JD.com saw some success with low-price strategies, while others like Taobao and Douyin did not [22][23] - In 2024, platforms are focusing on a "two-pronged" strategy: enhancing low-price competitiveness while also building differentiated competitive advantages [24][25] Platform Rule Changes Refund-Only Rule - The refund-only rule is widely used in low-price competition scenarios and has become an industry standard [31][32] - It has both positive and negative impacts, but the positive effects dominate, such as improving consumer satisfaction and forcing merchants to improve product quality [38][39] Price Comparison Rule - Price comparison rules are key to establishing price competitiveness, but there is still room for optimization [42][43] - These rules can help increase consumer shopping efficiency but may also lead to low-quality development if not managed properly [48][49] Traffic Distribution Rule - In 2024, platforms are balancing low-price and GMV-oriented traffic distribution to drive the ecosystem towards higher value [51][52] - Low-price traffic distribution may reduce product diversity and quality, while GMV-oriented distribution can help identify high-value merchants and products [53][54] Industry Development Trends - Platforms are focusing on their positioning advantages and optimizing rules to explore growth paths beyond low-price competition [57][58] - Merchants and consumers need to choose the right platform to efficiently meet their needs as platforms increasingly differentiate their strategic positioning [4]