Deep Dive 33 minutes Premium

Deep Dive:— A Differentiated E-Commerce Platform

Executive Summary

Online retailer was founded by CEO Richard Liu in 2004, focusing on 3C—computers, communications and consumer—products, but has since evolved to become China’s largest e-commerce platform by revenue, boasting an extensive product offering, as well as best-in-class, in-house fulfillment capabilities. This report takes an in-depth look at this unique e-commerce platform. We discuss the key drivers behind’s growth and how its different segments are performing, and look at various industry trends that are shaping the e-commerce market in China and how stands to benefit from these trends.

  • Growth drivers: We expect the product mix shift and online marketplace expansion to drive the growth of
  • Key strengths:com has one of the largest logistics infrastructures of China’s e-commerce players, giving it tight control over its own fulfillment process.
  • Strategic partnerships:com has struck key partnerships with industry leaders, including China tech giant Tencent and US retailer Walmart.
  • Business segments: The B2C direct sales business is the major revenue driver, generating over 90% of total revenues.
  • Industry trends: com is well positioned to benefit from the shift to a B2C model from a C2C model.

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