搭乘TEMU的直升机,拼多多过去一年走出了一条与众不同的高增长曲线,一路高歌猛进,以超预期的业绩表现,坐稳“中概之光”的位置。
3月20日,拼多多集团发布截至12月31日的2023年第四季度及全年业绩报告。财报显示,拼多多去年第四季度营收为889亿元,同比增长123%,增速为近10个季度最高;经营利润为224亿元,同比增145.73%。
2023年全年,拼多多实现营收为2476亿元,同比增长90%;经营利润为586.99亿,同比增93.08%。
拼多多业绩超预期增长的背后,不仅在于国内电商主站业务贴合了时下消费的大趋势,更在于上线仅一年半的TEMU已开始带来强劲的收入贡献。
眼看拼多多第二增长曲线大势已成,资本也给予强烈反响。去年以来,拼多多股价大幅上涨,直逼老大哥阿里巴巴。
超预期
在如今激烈竞争的市场环境下,拼多多还能保持如此强劲的增长实属难得。
拼多多的营收主要来自两部分业务板块,分别是在线营销服务、交易服务。
去年四季度,这两部分业务均保持了强劲增长,其中在线营销服务及其他业务营收为486.76亿,同比增57.19%,这部分的收入增长主要归因于国内电商主站业务GMV的稳健增长,以及平台广告变现销量的提升。
拼多多管理层指出,拼多多始终将理解和满足消费者需求放在第一位,第四季度是电商旺季,公司在各市场因地制宜地推出一系列特色促销活动,推出有趣的促销手段,降低消费者高质量消费门槛,促销活动获得不错反馈。
因此,尽管竞争对手都开始强调“价格力”,拼多多凭借多年来构建的“实惠”心智稳固以及供应链优势,仍保持着高于行业平均水平的增速。
相比于国内电商主站,拼多多更强劲的增长来自集团的海外跨境电商平台TEMU。
财报显示,拼多多四季度交易服务收入增长更为强劲,同比大幅上涨357%至402.05亿元,较第三季度315%的增速进一步提升。
多家研究机构认为,这部分收入翻倍主要得益于TEMU业务快速扩张带来的增量收入贡献,从去年三季度开始,TEMU带来的收入贡献就在拼多多的业绩报中藏不住了。
显然,如今的TEMU已经撑起了拼多多的第二增长曲线。
营收增长强劲的同时,拼多多也赚到了真金白银。
去年四季度,拼多多经营利润为224亿元,同比增长145.73%;全年经营利润为586.99亿,同比增长93.08%。
2023年是拼多多积极拥抱高质量发展的开局之年,其将高质量发展作为全年核心工作,在有效助力消费者得实惠、优质商家多卖货的同时,进一步巩固了平台生态的正向循环。
拼多多集团执行董事、联席首席执行官赵佳臻表示:“平台的营收增长是我们推行有效的促消费举措以及整体消费回升的结果,也是我们为消费者和商家创造更多价值的结果。”
当然,高质量发展离不开研发驱动。财报显示,拼多多去年四季度研发费用为29亿元,全年研发费用达到110亿元。
拼多多集团董事长兼联席首席执行官陈磊表示:“今年,我们将保持投入力度,为高质量发展探索、培育新质生产力,提升前沿技术在农业及制造业中的支撑能力。”
这些,都是拼多多未来能继续保持高增长的驱动力。
新引擎
对于拼多多而言,2023年绝对算得上是具有里程碑意义的一年。
在国内电商行业增量见顶的情况下,看到出海政策红利及海外市场发展机遇的拼多多,开始向海外市场寻求第二增长曲线,集团于2022年9月推出TEMU,仅一个多月就超越Amazon Shopping登顶美国免费购物应用榜单第一,由此拉开了全球化布局的序幕。
2023年是TEMU走向成熟并快速扩张的一年。
去年2月,TEMU斥资1400万美元在美国职业橄榄球大联盟(NFL)“超级碗”总决赛投放两段30秒的广告,“像亿万富翁一样购物”的广告语让TEMU迅速打开知名度。
截至目前,TEMU已进入全球50多个国家和地区,随着南非站点的开通,当前Temu业务已实现了覆盖所有大洲,其中欧洲站点数量最多,美国市场当前体量最大。
目前,TEMU已实现对国内制造业品类的全覆盖,先后推动服装、数码、家电、箱包、户外、配饰、玩具、文具等上万家制造业企业成功出海。
SimilarWeb发布的数据显示,截至2023年12月,TEMU的独立访客数量达到4.67亿,仅次于亚马逊,排名全球第二。
与此同时,摩根士丹利在去年10月发表研报表示,约有15%的美国消费者在TEMU上购物。
今年2月TEMU继续发力,再度承包“超级碗”广告位,且投放的广告播放次数是去年的两倍多,同时赠送价值1000万美元的赠品、价值500万美元的优惠券和积分。
这次广告投入同样带来了不错的效果。据Apptopia,TEMU下载量在超级碗当日相较前日增长34%,创造去年11月以来的最快日增长纪录。
这些年跨境电商市场竞争激烈,而TEMU能成功的重要原因,则在于其全托管、柔性供应等创新模式。
在全托管模式下,TEMU提供了一站式服务,跨境商家只充当着“供货商”的角色,后续运营、履约均由多多跨境负责,显著降低了商家入驻的门槛。
全托管模式的优越性受到了全行业的认可,在TEMU推出后,不少其它跨境电商平台也纷纷跟进。
为了灵活满足商家的需求,今年初,TEMU进一步推出了半托管模式,即物流运输及履约环节由商家承担,有望吸引更多商家入驻。
当然,TEMU发展过程中也会存在一些不确定性,首当其冲的就是海外市场的政策风险。
但整体而言,未来TEMU的增长将依然强劲。
汇丰调查报告估算,2023年,Temu贡献了拼多多总收入的23%,这一数字在2024年有望升至43%,在2025年超过50%。预计Temu在2027年GMV将增至1400亿美元,居“出海四小龙”榜首。
TEMU如今落地的业绩贡献以及未来发展的强劲势头,让资本市场看好拼多多未来的增长空间,从而带动股价大幅上涨。更有观点认为,TEMU具备再造拼多多的潜力。
*以上不构成投资建议,不代表刊登平台之观点。用户应考虑本文中的任何意见、观点或结论是否符合其特定投资目标、财务状况或需要。市场有风险,投资需谨慎,请独立判断和决策。
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