The express delivery circle changed a lot in the first half of the extreme rabbit outbreak.

From the four camps of the express delivery market (Tongda Department controlled by Ali, Jingdong Logistics controlled by JD.COM, Jitu relying on the rapid growth of Pinduoduo, and SF+Wang Feng, an independent third party), some changes have taken place in the whole market in the first half of the year: the stronger the strong, the weaker the weak, the new entrants spoil the situation, the more brutal the competition, and the faster the industry integration.

The express delivery industry is still a completely competitive market. Although there are already many giants, with the entry of polar rabbits, old players are facing extrusion.

After entering the China market for more than a year, the daily order volume of Polar Rabbit Express 65438+ 10 has been stable at 20 million. In April, Extreme Rabbit completed the financing project of/kloc-0.80 billion US dollars led by Bo Capital, Sequoia Capital and Gaoyou, with a post-investment valuation of 7.8 billion US dollars, surpassing established express delivery companies such as Tong Yuan, Shentong and Dayun, and second only to SF Express (about 46 billion US dollars), Jingdong Logistics (about 30.3 billion US dollars) and Zhongtong (about 23.7 billion US dollars).

After financing, the extremely rabbit capital flow reserve is more sufficient, and it is not afraid of "price war". It is not impossible for the next order to surpass Baishi Express and Shentong. In addition, Extreme Rabbit is the largest e-commerce express delivery company in Southeast Asia, continuously deploying international business and launching differentiated competition with other express delivery companies.

In addition to the new entrants who have started to enter the e-commerce express market, such as Extreme Rabbit Express and Wang Feng, it was reported at the beginning of the year that Nezha Express was starting to attract investment in Sichuan and other places, and East China, South China, Beijing-Tianjin-Hebei and other regions were also established. However, according to official website of the State Post Bureau, up to now, Nezha Express has not obtained the express business license. According to the news, Nezha Express has been rejected three times in a row, and suffered "three times in a row".

On July 7th, Gome recently upgraded its original "pop-up shop Distribution" business, transforming its previous distribution services with third parties such as SF Express, Dayun and Dada into self-built teams and strengthening express delivery services. On the whole, the business of "Gome Express" is divided into two parts: first, it relies on the same city distribution network that Gome stores deliver in 30 minutes; The other is the integrated mode of warehouse distribution with large warehouses to create an efficient express delivery network. At present, the service has been piloted in the core area of Beijing.

At present, the competition in the express delivery market is extremely fierce. For new entrants, quickly seizing the market is still the primary strategy. However, behind the "price war" is actually a "cost war" and a cost optimization. It is not long-term to always sacrifice profits or even exchange losses for the market. Only by increasing the unit volume and income, and making the gross profit and gross profit margin of a single piece competitive enough and having pricing power, will we not be afraid of the "price war".

The express delivery industry, which seems to have basically set a big pattern, is actually undergoing tremendous changes.

1) Zhongtong continues to widen the gap with other express delivery companies in market share, and vigorously promotes the development of express delivery, cold chain and high-end aging parts to integrated logistics;

2) Dayun and Tong Yuan ranked second and third in market share. After Dayun joined hands with Debon, the express delivery business grew rapidly, while Tong Yuan deepened its international development strategy and actively laid out the global express delivery integrated service network.

3) Relying on the rapid growth of Pinduoduo Polar Rabbit's business volume, although the next order volume may exceed that of Baishi Express and Shentong, it ultimately depends on the optimization of cost. After all, it is not far to do business with long-term money;

4) The market share of Baishi Express and Shentong has begun to decline, among which Baishi Express will have a larger range and is accelerating adjustment;

5) Tian Tian Express has announced that it will start a comprehensive transformation, suspend its loss-making express delivery business and focus on developing its business in the same city. However, in the first half of the year, Suning encountered staged challenges and difficulties, and it is estimated that it is difficult to take care of daily express delivery in a short time.

According to the main operating conditions of SF, Tong Yuan and Dayun A-share express logistics enterprises in the first five months:

In terms of business, with the rapid development of e-commerce, courier companies have announced that they will not close their business during the Spring Festival this year (except SF Express, JD.com Logistics and EMS, other courier companies were basically closed at this time last year), and the business volume of courier companies increased significantly in the first five months. Among them, SF * * * collected 41.800 million pieces, up 40.88% year-on-year, and its market share in the first five months was 10.54% (down 0.69 percentage points year-on-year); Dayun * * * collected 66190,000 pieces, up 5 1.85% year-on-year, and its market share reached 16.69% in the first five months (up 0. 18 percentage points year-on-year); Tong Yuan * * * received 5.923 billion pieces, a year-on-year increase of 57.22%. In the first five months, the market share reached 14.94% (up 0.7 percentage points year-on-year). Shentong * * * collected 3.924 billion pieces, up 47.96% year-on-year, and its market share reached 9.9% in the first five months (down 0 0. 14 percentage point year-on-year).

According to the financial report data of Zhongtong and Baishi Express in the first quarter, Zhongtong continued to maintain the leading business volume, with a business volume of 4.475 billion pieces in the first quarter (up by 88.5% year-on-year), corresponding to a market share of 2 1.66% (up by 1.27 percentage points over the whole year of 2020). In the first quarter, Best Express delivered more than 654.38+07 billion packages (up 33.6% year-on-year), and its market share decreased by 2.49 percentage points compared with the whole year of 2020, accounting for only 7.75%.

Obviously, the express market share of Shentong and Baishi Express is in a declining period, especially Baishi Express. The reason behind this is that the overall operating costs of Shentong and Baishi Express are on the high side (see article: Is the era of express loss coming? Revealing the cost behind "acquiring everything"), under the background of "price war", the advantage is not obvious.

As can be seen from the latest trends, Shentong began to cooperate with a number of community group buying platforms, opened grid warehouses, and expanded the number of pieces through new business. At present, the development of new retail shows a trend of "short chain near the field", and there is still a lot of room for growth in the new scene of express delivery in the future. Shentong has many terminal outlets with manpower and transportation, which generally matches the warehouse network structure of community group purchase. This can not only develop new business growth points, but also provide new business opportunities for terminal express outlets.

The fresh products in community group purchase have higher requirements for operation management standards and supply chain integration. It remains to be seen whether Shentong Express can incubate a new generation of short-chain distribution capabilities and meet the needs of community group buying and C2M.

And Baishi is still in a period of great adjustment. At the end of last year, Wang Xiaoqing succeeded Zhou Shaohua as the general manager of Best Express Business Department. At the same time, Baishi will gradually withdraw from the "store plus" business, and plans to further integrate its main business including express delivery, express delivery and supply chain through various measures. In the first quarter, after the adjustment of product structure, the single ticket cost of Best Express has been significantly improved. Of course, Best is not only a courier company, but also a leader in its diversified integrated logistics services.

Returning to the market value, although the overall revenue and business volume are increasing, due to the "price war", the net profit of each company is not ideal, which makes the market value generally decline. As of June 30, the market value of SF was only 308.4 billion yuan. Due to the loss in the first quarter of this year, the market value has dropped by 30% compared with the beginning of the year. Zhongtong's leading position in market share is obvious. At the same time, with excellent cost control, its net profit is good, and the overall market value has the smallest decline, only 5%. The overall decline of Dayun, Tong Yuan, Shentong, Baishi and Debon all exceeded 10%.

Of course, with the fines for low-price dumping of Best Express and Extreme Rabbit Express in early April, it is expected that the price competition of express delivery will be eased in stages, and the introduction of the draft will also restore the profitability of express delivery enterprises in the second quarter of this year to some extent.

The first half of 202 1 is a period of great turbulence in SF. Due to business losses in the first quarter, the market value fell by 30% compared with the beginning of the year. However, in the long run, with the investment in the construction of four-network integration projects (direct aging network, abundant network, express network and warehouse network) and leading scientific and technological capabilities, SF's long-term competitiveness is still consolidated.

In April, SF further upgraded and optimized aging products. After adjustment, the original matrix of aging products (same day, next morning, standard express and standard place) has been changed to include SF, express and standard express.

Shunfeng's economic express is divided into three parts: standard express land transportation, special price and Fengwang. The share of special prices and accessories in the economic express train will increase from 35% in 20 19 to 67% in 2020. In 2020, the annual revenue of the economic express delivery sector was 4.4/kloc-0.0 billion yuan, a year-on-year increase of 64%. Among them, the new generation of SF Express is oriented to the mid-to high-end e-commerce market, with the advantages of SF Express, focusing on products with high timeliness and high cost performance; For the low-end e-commerce market, SF Express preferred to cooperate with Fengyun Express to provide more cost-effective products and services, and the multi-combination model provided customers with relatively stable timeliness guarantee and cost-effective service selection.

At this point, based on the diversified needs of different industries, customer groups and scenarios, SF Express products have been fully laid out. This product optimization, on the one hand, ensures stable product timeliness, high-quality customer experience and accurate service delivery; On the other hand, we will continue to optimize the operation mode, improve resource efficiency, provide customers with cost-effective services, and help customers reduce costs and increase efficiency.

On the whole, driven by special prices, the income scale and market share of economic products accelerated last year. Although the market share has declined this year, with the adjustment of aging products and the attack of Wang Feng, it is expected that the turnover of SF Express in the e-commerce market will continue to increase.

In May this year, Jingdong Logistics was officially listed on the main board of the Hong Kong Stock Exchange, with a market value of over HK$ 239.3 billion as of July 8. This listing in Hong Kong marks that Jingdong Logistics has entered a new stage of development. The raised funds will focus on the layout of the integrated supply chain, including upgrading and expanding six major logistics networks (warehousing network, integrated transportation network, last mile distribution network, bulky network, cold chain network and cross-border network) to strengthen the integrated supply chain capacity.

The strategy of Jingdong Logistics in express delivery business is to focus on the high-end market by building a purely direct and efficient express delivery network, taking into account the logistics distribution of JD.COM Mall and socialized personal express delivery. Although Jingdong Express is not as good as SF Express and Tongda Department in volume, it has gained a good reputation in service and timeliness, and can directly PK SF Express.

In April this year, JD.com Express announced that it would start to speed up again. On the basis of the speed increase of express delivery last year, this year, by increasing resource investment, we will further strengthen the capacity building of cross-regional network of public railways and air, and have an efficient delivery experience. At present, the distribution of Jingdong Express focuses on the mid-to-high-end, with high-efficiency express service and full-scene and personalized service experience, and the overall price is lower than that of SF Express.

In addition, ZTO Express Train officially launched "Watch Fast" products, and entered the mid-to high-end market. China Post recently launched a new round of speed increase. The postal speed-up covers "1000+" cities across the country, and many provinces (autonomous regions and municipalities) realize postal delivery the next day. In the case of speeding up and reducing prices, the competition of high-end express delivery will become more and more fierce, and there will be many tests for SF.

Generally speaking, in the whole express delivery market, the market competition is further intensified, whether it is business parts or e-commerce parts. For express delivery companies, it is very important to gain a larger market share at least in the next few years. The test is the differentiated and diversified development strategy, cost optimization and service experience of express delivery companies. The key depends on cash flow, financing ability, talent construction, infrastructure capabilities such as venues and vehicles, and technical capabilities.

Author | Little Zhou Botong

Source | Logistics Salon

This article is the author's personal opinion and does not represent the position of logistics salon.