Spotify (NYSE:SPOT) Q3 2025 Earnings Call November 04, 2025 08:00 AM ET Speaker4Good morning and welcome, everyone, to the Spotify Third Quarter 2025 earnings call. Today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press the star key followed by the number one on your telephone keypad. If you would like to withdraw your ...

知名财经作家、超级畅销书《工匠精神》作者 付守永 中国商业环境已从"增量竞争"转向"存量深耕"，企业增长的核心逻辑从"获取新客"转变为"经营用户终身价值"。这一转变不仅是营销策略的调整，更是企业 经营哲学的革命——从"交易思维"到"关系思维"，从"卖货逻辑"到"用户价值逻辑"。 ANAL CARD t 2017 the state the state A IST Allender Kent the state 1000 2 the the states in 11 the first 1 and 300 t on ra respons the state E r and r profit and and the Willia 而胖东来，这家扎根河南的区域零售企业，凭借极致的用户运营，成为"深耕复购"的标杆案例。它的成功并非依赖资本扩张或低价竞争，而是通过重构经营 逻辑，在高度内卷的零售行业实现逆势增长。 一、复购经济的本质：从"流量思维"到"用户资产思维" 传统企业的增长依赖"流量-转化-变现"的线性逻辑，而深耕复购的企业则构建"用户-信任-复购-口碑"的飞轮模型。 1. 胖东来的复购数据印证经营逻辑的变革 ...