盒马十年路，一部中国新零售的进化与反思史

Core Viewpoint - The article emphasizes that new retail has not disappeared but has returned to its essence, focusing on core business models and product strength after a decade of exploration and competition in the industry [5][26]. Group 1: New Retail Evolution - In 2015, Alibaba initiated the "NB project," which later became Hema, marking the beginning of a new retail era in China [10]. - Hema's first store opened in January 2016, quickly gaining popularity with its unique model of "store as warehouse + instant delivery," achieving approximately 250 million yuan in revenue in its first year [12]. - The period from 2016 to 2019 is described as the "golden three years" for new retail, with significant investments and interest from various sectors [14]. Group 2: Challenges Faced - High operational costs and difficulties in achieving profitability were significant challenges, with delivery costs and other expenses compressing profit margins [15]. - Blind expansion led to cash flow issues, as companies pursued new business models without a clear path to profitability [15]. - The supply chain transformation lagged behind, resulting in product homogeneity and consumer dissatisfaction [15]. Group 3: Strategic Shifts - Major players like Hema have begun to retract their strategies, focusing on core businesses such as Hema Fresh and community discount stores [16]. - Hema's CEO emphasized that "product strength" is the core competitive advantage, leading to a renewed focus on product and service quality [18]. - Hema aims to build a "data-supply chain-experience" system to enhance product strength and consumer experience [18]. Group 4: Return to Retail Fundamentals - The article discusses the skepticism surrounding the future of new retail, with significant corporate actions indicating a shift in strategy [28]. - Hema's integration into Alibaba's ecosystem through platforms like Taobao and 88VIP enhances its user base and operational efficiency [28]. - The competition in the next phase will focus on the essence of retail, including product strength, supply chain efficiency, and consumer experience [26]. Group 5: Future Outlook - Hema's journey from its first store in 2016 to its current brand proposition reflects the evolution of new retail from concept to practical application [29]. - The article suggests that as competition centers on product strength and supply chain efficiency, new retail may enter a phase of significant value creation [29].