A while ago, the "price war" triggered by Tesla in the new energy automobile industry has just passed, and now the e-commerce industry has begun to quietly "roll" up.。

According to a number of media reports, the domestic e-commerce giant Jingdong plans to launch a 10 billion yuan (about 1.5 billion U.S. dollars) shopping subsidy campaign on March 8 to match the tens of billions of subsidies, which also means that a "price war" in the e-commerce industry is about to start.。As soon as the news broke, the shares of both companies began to fall, and it seems that the market is still concerned about the situation。

According to reports, an internal PPT shows that Jingdong's 10 billion subsidy online rhythm is: in February 24th to complete the bidding system online, in February 28th to open the full range of reports, audit through the goods have been online。At the beginning of March, the front desk cut 100% officially launched。It is reported that the tens of billions of subsidies and Jingdong in the past in the "618" or "Double Eleven" and other shopping festival discounts are different, the tens of billions of subsidies in the Jingdong app will have a first-class entrance, which means that the previous shopping festival will appear big promotions, will be changed to a long-term promotion model.。

In addition, the most noteworthy is that the 10 billion subsidy activities, Jingdong business center also announced the "buy expensive double compensation" new rules。The rule states that after purchasing a product marked with this service, if the actual amount paid for the order is higher than the price of the same product on a specific platform, the consumer can apply for compensation for the double difference between the actual amount paid and the order on the day of placing the order with a valid voucher.。

Jingdong said that the specific platform refers to the tens of billions of subsidies, Tmall (including websites, apps, WeChat public numbers, WeChat Mall and Xiaocheng characters, etc.)。However, the double compensation amount for buying expensive goods = (the actual amount paid by the consumer's order-the actual amount paid by the order when the consumer purchases the same goods on a specific platform) x2。

Specifically, due to the economic environment of the global market in the past two years are in a relatively depressed state, the consumption capacity of the masses has declined, resulting in the loss of part of the market share of Jingdong, on the other hand, Pinduoduo has always been to sink the market, has been in the second, third and fourth-tier cities to stabilize its market share.。At the same time, the main thrust of the fight is low-priced good goods, after people's spending power degradation, will naturally succumb to the price and choose to fight a lot.。Although the overall service quality of Jingdong is relatively better than that of Pinduoduo, buying good goods at low prices is always the retailer's most attractive nirvana.。

Some analysts believe that the launch of the "tens of billions of subsidies" independent channel can help Jingdong stabilize users in first- and second-tier cities, and extend the coverage of the whole category, may also allow Jingdong in the "Jingxi business" after the retreat, to find a grip on the sinking market, "stabilize the stock, continue to pursue new increments" is the role of "tens of billions of subsidies" should play。

Citi also released a research report that, due to market rumors that Jingdong plans to bid more, next month to launch "tens of billions of subsidies" activities, Jingdong in the past two trading days fell more than 10%。The bank, for its part, believes that media reports and investors may overreact to the news, and Citi believes that most of the 10 billion yuan subsidy will be shared with brands, suppliers and merchants, so it may not be fully reflected in JD's earnings report.。

The report also mentioned that, based on its performance, JD has been cautious in its spending and will not blindly subsidize without setting any growth targets and KPIs, so it is believed that the more effective the spending, the more obvious the growth in the number of new users, revenue and market share will be, which will help improve its supply chain and pricing capabilities.。

Finally, Citi said that in order to better support the recovery of domestic consumption, it would be wise to launch subsidized promotions before the "618" mid-year promotion, suggesting that the current sell-off be seen as a buying opportunity, predicting that Jingdong's revenue will grow by 10% year-on-year this year..8% to 1.16 trillion yuan, net profit is expected to reach 321.600 million yuan, close to market expectations。