考虑流量转化的新零售模式下电商平台财务绩效评价——以唯品会为例
Financial Performance Evaluation of Platforms under the New Retail Model Considering Internet Traffic—A Case Study of Vipshop

随着互联网技术的成熟，新零售模式成为电商平台优化业务模式、获得新发展的有效路径。电商平台的价值与运行离不开用户流量和价值链的作用，传统财务绩效体系难以评价用户流量，以及全面考虑价值链中外部信息对平台的作用影响。因此，本文从价值链视角出发构建评价指标体系，依据电商平台的商业模式和行业特性加入了流量获取、转化和变现的衡量指标。文章选取唯品会作为案例对象，基于熵值法从横向和纵向角度对比分析唯品会新零售模式的实施效果。研究结果表明，新零售模式下唯品会财务水平稳步上升，综合水平稳居同行中间位置，财务水平与同行实力强劲的企业存在差距，主要原因在于盈利能力、消费者管理以及竞争能力发展不足等。
With the maturity of Internet technology, the new retail model has become an effective path for e-commerce platforms to update business model and obtain new development. The value and operation of e-commerce platforms cannot be separated from the role of Internet traffic and value chain. Traditional financial performance indicators are difficult to evaluate Internet traffic and fully consider the impact of platform’s external information. Therefore, the paper constructs an evaluation system from the perspective of the value chain, and adds indicators for Internet traffic acquisition, transformation and realization based on the business model and industry characters of e-commerce platforms. The paper chooses Vipshop as the object and uses the entropy method to analyze the effect of Vipshop’s new retail model from both horizontal and vertical perspectives. The research results indicate that under the new retail model, Vipshop’s financial level is steadily increasing, and it remains the middle level among its peers. There is a development gap compared to strong peers, mainly due to insufficient development of profitability, consumer management, and competitiveness.