Core Insights - JD.com has rapidly captured 31% of the food delivery market and is now targeting the hotel and travel industry with a "three years zero commission" offer, receiving 50,000 applications from hotels within two days [2][3] - Unlike food delivery, hotel bookings are a low-frequency demand, making it challenging for JD.com to convert users who do not currently have travel plans [2][3] - To succeed in the hotel industry, JD.com must not only attract merchants but also drive consumer conversions to build a sustainable ecosystem [3] Market Strategy - Selling pre-sale hotel vouchers could be a viable strategy for JD.com, as they offer more flexibility compared to traditional booking methods [4][5] - Pre-sale vouchers can help lock in consumer demand and convert traffic into actual sales for both JD.com and participating hotels [5][10] - The pre-sale voucher model gained popularity during the pandemic, providing a lifeline for hotels and enabling platforms like Ctrip to recover financially [7][8] Competitive Landscape - JD.com aims to challenge established players like Ctrip, which currently holds a significant market share in the OTA sector [9][17] - The competitive dynamics are influenced by the established habits of consumers who are accustomed to using Ctrip for hotel bookings, making it difficult for newcomers to gain traction [17][18] - JD.com is leveraging its existing user base and partnerships with four-star and above hotels to position itself against Ctrip [19][20] Supply Chain Integration - JD.com is not just entering the OTA space but is also focusing on the entire hotel supply chain, aiming to reduce costs for hotel operators [11][12] - The company has already engaged with many hotels as major clients for its electronics and supply chain services, indicating a strong foundation for its hotel supply chain strategy [11][12] - JD.com plans to streamline the supply chain by reducing intermediaries and leveraging its logistics network to lower costs for hotels [12][13] Financial Services Opportunity - JD.com has the potential to explore financial services related to hotel bookings, similar to Ctrip's "buy now, pay later" model, which has seen growth in revenue [21][22] - The integration of financial services could enhance JD.com's offerings and provide additional value to consumers and hotel partners [22]

Core Insights - The Chinese OTA market has undergone significant changes over the past few decades, with Ctrip emerging as the leader, while Meituan, Tongcheng, Qunar, and Fliggy have settled into secondary positions [1][2] - JD.com is entering the OTA space, leveraging its existing user base and resources to challenge Ctrip, indicating a shift in the competitive landscape [1][2] - The hotel market in China is still dominated by non-chain hotels, presenting an opportunity for JD.com to capture market share by targeting smaller hotels that are sensitive to commission fees [3][4] Market Dynamics - JD.com has over 800 million users, with a significant portion being high-net-worth individuals, aligning well with the business travel needs that Ctrip caters to [2] - The 2024 hotel market is expected to see Ctrip leading, followed by Tongcheng and Meituan, with the latter two having established advantages in resource integration and brand building [2][3] - JD.com is focusing on a supply chain model rather than a traditional commission-based model, which may allow it to attract hotels that are looking to reduce dependency on OTAs [4][21] Competitive Strategies - JD.com is adopting a "rural encircling the city" strategy by initially targeting smaller, commission-sensitive hotels rather than high-end chains [4][5] - The competition between JD.com and Ctrip is not just about immediate market share but also about long-term sustainability and resource allocation [8][21] - The traditional OTA model relies heavily on commissions and advertising fees, while JD.com is exploring supply chain service fees and membership value-added services [4][21] Supply Chain Considerations - The hotel supply chain in China is complex, with significant costs associated with distribution, which JD.com aims to streamline [5][21] - In 2023, 41,800 new hotels entered the market, indicating a growing supply that JD.com can tap into, especially among smaller hotels [5][17] - The shift towards a buyer's market is evident, with average revenue per available room (RevPAR) declining, which may benefit JD.com’s zero-commission model [22] Future Outlook - The entry of JD.com into the OTA space is seen as a potential game-changer, with the possibility of reshaping the competitive landscape [7][23] - The evolving dynamics of the hotel market suggest that companies with strong supply chain capabilities, like JD.com, may gain a competitive edge [19][23] - The focus on user experience and supply chain efficiency will be critical for JD.com as it seeks to establish itself in the OTA market [21][22]

Core Viewpoint - Liu Qiangdong, founder and chairman of JD Group, emphasizes the importance of "entrepreneurial spirit in the new era" during the Summer Davos Forum, highlighting his commitment to ethical business practices and collaboration with partners [4][5]. Group 1: Liu Qiangdong's Business Philosophy - Liu Qiangdong's entrepreneurial philosophy includes "success through integrity" and the "Three Mao Five Theory," which advocates sharing profits with partners and employees to foster sustainable growth [5][6]. - JD Group's commitment to ethical practices is evident in its policies, such as providing full insurance for delivery riders, which aligns with Liu's values of transparency and fairness [5]. Group 2: Strategic Initiatives - JD Group is entering the food delivery market, focusing on the supply chain rather than immediate profits, indicating a long-term strategy to dominate the supply chain for various industries [8][9]. - The company plans to launch a stablecoin, aiming to reduce cross-border transaction costs by 90% and speed up transactions to just 10 seconds, marking a significant move in the financial sector [10][13][15]. - JD Group's unique approach to international expansion involves establishing local e-commerce platforms for Chinese brands in Europe, with a goal of helping 1,000 brands navigate compliance and certification [16][17][19].

京东供应链是东哥最后的底牌。 京东失去的五年 6月17日，刘强东在一场分享会中，阐述了京东商业模式的本质、进军外卖的初心和逻辑，以及新业务拓展、组织建设等多方面观点，内容刷屏。但其中最引人注 意的还是东哥罕见的直接批评"京东失去了五年"。开会检讨谁都见过，但像东哥这样一把手直接毫不客气的批评，还是较为少见。 东哥这番批评并不是内部管理手段，也不是选择流量最大的说法，而是有一定现实依据。 刘强东说："京东集团每隔三年会有一个新的商业模式出来，我们一直保 持，当然最近这五年，京东没有任何新的东西，很遗憾。最近五年可以说是京东失落的五年，是走下坡路的五年，可以毫不留情地这么说，没有创新，没有成 长，没有进步的五年，应该算是我创业史上是最没有特色的、贡献价值最少的五年。未来每年都会有一个创新项目，现在已经有包括稳定币在内的6个创新项目在 陆续推出。" 2022年京东参团低价大战，创始人火线回归，业务线动荡频繁。它学习拼多多做低价，要和阿里掰手腕，还得分神和美团过两招。种种激进与挣扎，只换来一路 走低的股价与资本市场的诘问。 也很少有人能记起，京东曾是最先进入即时零售领域的，2015年就推出配送时效为一小时的京东到家， ...

"外卖、买药、送急需用品，京东一个APP，生活所需的基本消费场景都覆盖了。"网络原住民、90后莎莎坦言，这多少引起了她的注意。毕竟，这些年， 京东的电商和物流体系，对她塑造的心智太强，短期内的多次转舵，让她有些不明所以。 刘强东试图解答"莎莎们"的问题。在618电商大促收尾的前夜，刘强东和一些媒体进行了小范围分享，首次强调了京东的逻辑，他聚焦到一点，京东所有 的业务都围绕供应链展开。如果按照这个逻辑，京东似乎可以成为想象不到的一切。 今年以来，很多人明显感受到，"京东越来越不像'京东'了。" 曾经那个经典的"自营电商"平台，如今既有电商的故事，还有外卖小哥、自营秒送的故事，甚至最近，还可以订机票、酒店和景点门票了...... 文 | 听筒Tech，作者 | 陈珂，编辑 | 饶言 "'小白狗'已经不是一只'电商狗'了。" 不过，如此，市场又产生了一些新的问题：如果供应链有切入的优势，那么京东的供应链能否保证"将不同产业重新做一遍"？不同于即时零售的多年沉淀 和烧钱补贴，不断放开的诸如酒旅这样的新业务，京东到底能否实现商业改写？ 诚然，行业仍然欢迎搅局者，且永远需要变量。只是，这个变量，需要更多肯定的答案。当然， ...

京东此番搅局，究竟是善谋而胜还是铩羽而归，仍需时间证 明。但可以肯定的是，平静多时的酒旅市场也要像外卖行业那 样"风骤起，吹皱一池春水"了。 作者： 佘宗明 封图：图虫创意 刘强东预告的"京东进军酒旅"，来了。6月18日，京东面向全体酒店经营者发布公开信，称希望通 过新通路的方式为酒店行业提供供应链服务。京东还表示，酒店商家如果参与"京东酒店PLUS会 员计划"，可享受最高三年0佣金。 说起来，京东涉足酒旅业务已有多年：2011年，上线了机票预订服务；2014年，推出了"京东旅 行"频道，还收购了"今夜酒店特价"预订平台；2015年，以3.5亿美元领投途牛；2018年，举办 了"酒店战略发布会"；2020年，与携程合作……但整体上，京东酒旅业务的优先级不算太高，激 起的声量十分有限。 这次京东又以搅局者姿态高调杀入酒旅市场，显然不是试水那么简单：无论是被传言以3倍薪资从 友商处挖人，还是打出"零捆绑，透明价"+价格补贴的策略，抑或是对酒店大幅度减免佣金、免前 置坑位费，都表明京东此举已超越单一酒旅业务线的盈利考量，变成生态协同棋盘上的战略性落 子。 长期以来，酒旅都属于高毛利业务：今年一季度，携程酒旅业务毛利 ...

资料图。本文来源：深圳商报 截至目前，京东已成为国内本地生活流量第一阵营的平台，海量用户的高频消费也催生出旅游出行 等更多消费需求。同时，京东拥有全国超8亿高消费力用户，与全国超30000家大型企业和超800万 中小企业客户深度合作，该用户群与四星以上酒店主力客群高度重合。公开信中，京东表示希望联 合酒店商家，为消费者带去更便宜的价格和更好的服务，通过平台让利商家，释放酒店在服务、品 质等方面提升的活力，让商家有信心、用户享实惠，形成行业生态正循环。 就在"618"前一天，刘强东接受采访，分享了京东进军酒旅、外卖等领域背后的思考。他称，整个 京东集团一直围绕供应链开展业务，京东有很多公司，但都服务于供应链。他说，酒店、餐饮背后 也是供应链，前端是消费者住酒店、点餐，背后庞大的供应链其实很杂乱，成本很高。"京东为酒 店、餐饮成立了新通路事业部，我们先做的是便利店，第二就是餐饮，第三做酒旅，其实都为了背 后的供应链去做铺垫。" 刘强东表示："我想我们能够成功，我觉得我们能够为酒店餐饮提供一个新通路，为行业创造价 值。京东比拼的是让产品变得更好、价格更便宜、服务更好。"他表示，希望通过供应链将这些行 业的成本降到2 ...

佘宗明 | 文 刘强东预告的"京东进军酒旅"，来了。6月18日，京东面向全体酒店经营者发布公开信，称希望通过新通路的方式为酒店行业提供供应链服务。 京东还表示，酒店商家如果参与"京东酒店PLUS会员计划"，可享受最高三年0佣金。 说起来，京东涉足酒旅业务已有多年：2011年，上线了机票预订服务；2014年，推出了"京东旅行"频道，还收购了"今夜酒店特价"预订平台；2015年，以3.5 亿美元领投途牛；2018年，举办了"酒店战略发布会"；2020年，与携程合作……但整体上，京东酒旅业务的优先级不算太高，激起的声量十分有限。 这次京东又以搅局者姿态高调杀入酒旅市场，显然不是试水那么简单：无论是被传言以3倍薪资从友商处挖人，还是打出"零捆绑，透明价"+价格补贴的策 略，抑或是对酒店大幅度减免佣金、免前置坑位费，都表明京东此举已超越单一酒旅业务线的盈利考量，变成生态协同棋盘上的战略性落子。 长期以来，酒旅都属于高毛利业务：今年一季度，携程酒旅业务毛利率达到80.32%；在2022年第二季度调整财报披露方式前，财报也显示酒旅是美团利润 贡献最多的业务，当年一季度美团到店酒旅业务收入虽然只有餐饮外卖的约1/3，但前者利 ...

中经记者李静北京报道 继外卖业务后，京东官宣进入酒旅市场。6月18日，京东发出"酒店三年0佣金"的公开信，宣布通 过"PLUS会员计划"联合酒店商家，以0佣金政策撬动酒旅OTA行业格局。 就在前一晚，6月17日，京东集团创始人、董事局主席刘强东在一场媒体会上首次对外回应："京东做外 卖、酒旅，都为了背后的供应链做铺垫。" 京东便利店的业务可以追溯到2017年，外卖和酒旅其实都是今年才拓展的新业务。京东正式上线外卖业 务的时间是2025年3月，从招聘网站可以看到，京东自2025年3月起大规模招募酒旅业务人才，岗位涵盖 产品经理、后端开发、航空运营等核心职位。"在招聘时京东明确要求携程、美团背景优先，显示其通 过挖角快速补齐专业能力的意图。"网经社电子商务研究中心的生活服务电商分析师陈礼腾对记者表 示。 京东的这一发展路径，与美团早年从"外卖-到店-酒旅"的扩张逻辑有相似之处。 据悉，京东便利店在全国范围已经有150多万家。今年3月上线的京东外卖目前日订单量已经突破2500万 单，品质餐饮门店入驻超过150万家。京东0佣金政策多久能够打开酒旅市场，后续是否还会有其他的优 惠，都值得进一步观察。 京东方面表示，京东 ...

618下午，几乎整个酒店圈都在讨论"酒店入驻京东，最高3年0佣金"这事。 这个时候，我恰好和两个京东的朋友在星巴克聊天，其中一个负责搭建京东供应链的A君想让我评价下 他们现在的酒旅版块，原话是"东哥昨天话一说出来，我们这边'新通路'部门也得赶快上马业务"。 我这人特别喜欢直言不讳，和A君坦言现在还没看到太多具体政策，但京东负责酒旅的同学肯定要有初 期过"苦日子"的心理准备。 为什么？ 因为如果京东酒旅真的能做到"酒店入驻京东初期0佣金"，都是为了背后的酒店供应链去做铺垫，那京 东酒旅初期上来就先丢掉了45%的客户。 数据不撒谎。 根据STR数据，截至2024年底，全国酒店数量约为37.03万家，其中连锁化率已经突破了45%。 什么意思？ 就是说，有差不多一半的中国酒店不仅不缺供应链，而且他们自己的供应链，做得比你还熟。 尤其是那些头部连锁酒店品牌，不光有自建供应链的实力，还有一整套成熟的加盟体系来维系"货源控 制"这条护城河。 你说你京东工业化成本低，或许是，但要插进去一定得花时间，甚至是很长的时间看不到结果。 因为这事不是光靠"讲情怀"或者"送政策"就能搞定的。 以华住为例，旗下的"华住易购"2024年交易 ...