Upload
vanliem
View
218
Download
0
Embed Size (px)
Citation preview
www. i research .com.cn
2016 China’s O2O Sector Report
2
According to the latest data of iResearch, B2B e-commerce continued to dominate China’s e-commerce market in 2015,
with a combined market share of over 70%. The market share of online shopping and local lifestyle service O2O
increased slightly from a year ago.
SME B2B e-commerce 43.9%
Corporation B2B e-commerce 27.8%
Online shopping23.0%
Local lifestyle service O2O5.3%
China’s E-commerce Market Segmentation in 2015
Online Shopping and Local Lifestyle Service O2O
Outgrew E-commerce Market
B2B E-commerce Still Dominated the Market; Market Share of Other Segments
Increased Slightly
Note: In this report, local lifestyle service O2O industry only includes 8 segments, which are catering, entertainment, beauty, hotel, wedding, parenting, travel and
education. It excludes automobile, real estate, etc.
Source: Based on the financial results published by enterprises, interviews with experts and iResearch’s statistical model.
0.5 %
2.3 %
3
Mobile Shopping GMV Doubled, Paving the Way
for Online-offline Interaction
Mobile Shopping GMV Reached 2.1 Trillion Yuan in 2015, Surging123.8% YoY
Source: Based on the financial results published by enterprises, interviews with experts and iResearch’s statistical model.
According to iResearch, China’s mobile shopping GMV hit 2.1 trillion Yuan in 2015, soaring by 123.8% YoY. The segment
grew much faster than the overall online shopping market (China’s Yuan in 2015, up 36.2% YoY). online shopping GMV
reached 3.8 trillion
iResearch believes that China’s mobile shopping market will maintain rapid growth in the next few years, and its GMV is
expected to exceed 5 trillion Yuan by 2018. Mobile devices are characterized by portability, fragmented usage and
immediate interaction. These factors facilitate integration between online and offline purchasing, social activities and
consumption, and PCs, smartphones and TVs to produce integrated marketing strategies and the potential for multi-
screen interaction.
0 100 300 900
2,100
3,400 4,500
5,500
426.1% 490.1%
297.6% 242.8%123.8% 60.5% 34.0% 22.0%
0
2,000
4,000
6,000
8,000
10,000
2011 2012 2013 2014 2015 2016e 2017e 2018e
China’s Mobile Shopping GMV 2011-2018
GMV (bn Yuan) % Growth rate
4
Growing Mobile Shoppers Has Built a Solid User
Base for O2O ServicesChina’s Mobile Shoppers Reached 380 Million in 2015
Source: Based on CNNIC data and iResearch’s statistical model.
The number of mobile shoppers in China totaled 380 million in 2015 with a 44.7% growth rate, representing 92.4% of all
online shoppers. As the main entrance to O2O services, rapid popularization of mobile devices has laid a solid
foundation for the development of O2O market. In the meantime, it provides the user base for various forms of online-
offline integration.
3060
160
260
380420
460 480
136.4% 160.2%
64.4% 44.7% 11.8% 6.9% 4.8%13.4% 25.5% 53.1%
73.0%92.4% 95.0% 97.2% 98.1%
0
100
200
300
400
500
600
700
800
2011 2012 2013 2014 2015 2016e 2017e 2018e
Number and Share of Mobile Shoppers 2011-2018
Mobile shoppers (million) % Growth of mobile shoppers % of mobile shoppers of all online shoppers
5
Rapid Growth of Local Lifestyle Service O2O Market
Market GMV Reached 879.7 Billion Yuan in 2015 with a 35.1% Growth Rate
Note: In this report, local lifestyle service O2O industry only includes 8 segments, which are catering, entertainment, beauty, hotel, wedding, parenting, travel and
education. It excludes automobile, real estate, etc.
Source: Based on the financial results published by enterprises, interviews with experts and iResearch’s statistical model.
Lifestyle service industry has a direct bearing on people’s daily life and helps stabilize growth, boost domestic demand, increase
employment, and improve people’s livelihood. China’s lifestyle service industry has developed rapidly and experienced big changes
in recent years. A large number of emerging industries have mushroomed and are playing an increasingly important role in the
economy and society. Nevertheless, the penetration rate remains low. In the past two years, the boom in O2O platforms have
stimulated the rapid growth of the O2O Market. Market GMV totaled 879.7 billion Yuan in 2015, and is expected to reach 1.6 trillion
Yuan by 2018 with a CAGR of 15.5% from 2010 to 2013 and a penetration rate of over 7%.
According to iResearch, the robust growth of the O2O market mainly attributes to the rise of various vertical segments. From 2014
to 2018, the CAGR of wedding, catering, parenting and entertainment O2O segments all exceeds 24%.
263.7 357.6
478.0 651.3
879.7
1,104.4 1,337.6
1,590.1
47.7%35.6% 33.7% 36.3% 35.1% 25.5% 21.1% 18.9%
2.1% 2.9% 3.7% 4.6% 5.5% 6.3% 6.8% 7.4%
0
500
1,000
1,500
2,000
2,500
2011 2012 2013 2014 2015 2016e 2017e 2018e
GMV of China’s Local Lifestyle Service O2O Market 2011-2018
GMV (bn Yuan) % Growth rate % Penetration rate
6
Travel O2O Grabbed the Largest Share; Share of
Catering O2O Increased Steadily
The Ecosystem of “Food & Drinks, Entertainment and Shopping” Has Taken
Shape
Note: In this report, local lifestyle service O2O industry only includes 8 segments, which are catering, entertainment, beauty, hotel, wedding, parenting, travel and
education. It excludes automobile, real estate, etc.
Source: Based on the financial results published by enterprises, interviews with experts and iResearch’s statistical model.
According to iResearch, wedding, catering, parenting and entertainment O2O segments grow rapidly from 2014 to 2018
with an above 24% CAGR. The market share of catering, hotel and wedding segments has been on the constant rise. As
far as O2O market structure is concerned, travel O2O captured the largest share of 48.3%, followed by online catering at
16.2% and online education at 13.6%. Entertainment, hotel and wedding accounted for 9.8%, 9.7% and 0.9%
respectively.
49.8% 47.3% 46.4% 47.5% 48.3% 48.2% 48.1% 47.8%
8.1% 11.7% 13.3% 15.0% 16.2% 16.4% 16.3% 16.3%
21.8% 19.6% 17.6% 15.3% 13.6% 13.0% 13.0% 12.9%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2011 2012 2013 2014 2015 2016e 2017e 2018e
Structure of China’s Local Lifestyle Service O2O Market 2011-2018
% Online travel % Online catering % Online education % Online hotel industry
% Online entertainment % Online wedding % Online parenting % Online beauty
7
Investments Concentrated in Early Stages and
Declined after Series C Round
Investors Paid More Attention to the Profitability and Scalability of Startups
Note: Based on publicly available information.
With the capital market cooling down in the past year, many Chinese O2O startups are dying at an alarming rate. O2O is
a money-burning business with cutthroat competition, therefore, investors place higher requirements for the projects in
later investment rounds such as Series B and C. Around 70% of startups had financing difficulty in Series B round.
Worse still, more faced “the C round of death”.
According to iResearch, for early-stage investments, investors pay more attention to the team’s capabilities and business
direction. For startups in the middle and later stages, they focus more on the core competence, business model, profit
model and scalability of investment targets.
More investments in the
early stages (Angel, Series
A and B) and the later
stages (Series D, E and F)
Investors were more
prudent and placed higher
requirements for middle-
stage investments (Series
C and D)
Most O2O startups failed
before Series B round
45.0%
19.4%
11.6%
10.1%
3.9%
2.3%2.3%
2.3% 1.6%1.6%
Investment in Local Lifestyle Service O2O Companies in 2015
Series A
Series B
Angel
Series C
Series F
Series D
Series E
Strategic investment
IPO
Listed on New Third Board
8
Differentiated Growth of Local Lifestyle Service O2O
Professionalism Is the Core Competence of Local Lifestyle Service O2O
As consumers gain deeper understanding of O2O, the convenience the model brings becomes more widely recognized. Driven by
diverse needs of consumers, O2O is penetrating into vertical segments, covering car rentals & taxi-hailing, house-keeping, auto
service, healthcare, online education, and more. This is because mobile internet, LBS, real time and interaction have given rise to
innovative O2O strategies and techniques.
Home
Improvement
O2O
Auto
Service O2OMedical
Service
O2O
Travel
O2O
Food
Delivery
O2O
Catering
O2O
Beauty
O2O
Wedding
O2O
Education
O2O
Tickets
O2O
Pet Care
Service
O2OPersonal
Chef
O2O Fitness
O2O
House
Keeping
O2O
9
Company Introduction/Legal Notice
About iResearch
iResearch is a provider of insights into China’s internet space and global fastest-growing sectors as well as value-added corporate
services. It offers a wide range of services including big data insights and forecasts, industry research and corporate consulting,
investment and post-investment services.
Founded in 2002, iResearch is the first third-party firm focusing on research in China’s internet sector. Since its inception, it has
published thousands of industry reports and provided custom research and consulting services to thousands of clients. It is now the
preferred third-party research brand for the IPO of Chinese internet companies. iResearch set up its global research center in 2015,
expanding the scope of research to fast-growing sectors world-wide.
Copyright Notice
The report is produced by iResearch Co., Ltd. All texts, figures and tables in this report are under the copyright protection of relative
laws and regulations on intellectual property rights in the Peoples’ Republic of China. No organization or individual is allowed to use
the information in this report for any business purpose without the written consent from iResearch. Some texts and data in this
report are collected from public information and their copyrights are held by the original authors. No organization or individual is
allowed to use the information in this report for any business purpose without written consent from original authors and iResearch.
Exception Clause
Industry data and market forecasts are mainly obtained through desk research, industry interviews, market survey, and other
research methods in accordance with iResearch’s statistical forecast model. Corporate data are mainly obtained through interviews
and are for reference only. Some data published in this report is based on sampling method and is therefore influenced by sample
structure. Due to the limitation of research method, sample size and scope of data collection, the report only serves as a reference
for customers who purchase the report. iResearch is not held liable for the data and views in the report.
Contact Us
Hotline 400 026 2099
Website http://www.iresearch.com.cn
Follow us @iResearch on Twitter and LinkedIn
10
Table of Contents for Full-version Report
1 Environment for the Development of O2O Industry
1.1 Milestones
1.2 Environment for Growth
1.3 Growth Stages of Online-offline Integration
1.4 Wide Adoption of O2O in Various Fields
2 Growth Stages of O2O Industry
2.1 China’s E-commerce GMV
2.2 China’s E-commerce Market Segmentation
2.3 China’s Online Shopping GMV
2.4 China’s Mobile Shopping GMV
2.5 Number and Proportion of Mobile Shoppers 2011-2018
2.6 Online-offline Integration of China’s Retail Industry
2.7 O2O Strategies of Internet Companies
2.8 O2O Strategy Map of Internet Companies
3 Current State of Local Lifestyle Service O2O
3.1 China’s Local Lifestyle Service O2O GMV
3.2 China’s Local Lifestyle Service O2O Segmentation
3.3 Gradual Penetration of O2O Model
3.4 Investment in Local Lifestyle Service O2O Market in 2015
3.5 Death of Local Lifestyle Service O2O Startups 2014-2015
3.6 Reasons for the Death
4 Trends of O2O Industry
4.1 Online-offline Integration is Wave of the Future
4.2 Mobile Scenario Marketing Gradually Becomes a Trend
4.3 The Market is Penetrating into Second and Third Tire Cities
4.4 Data Mining Technology is the Key for Success
4.5 Differentiated Vertical Development Is a Future Trend
4.6 Improvement in the Service Quality is a Growth Opportunity
Appendix 1-4: Investment in O2O Companies 2015-2016
Appendix 5: Death List of O2O Startups 2014-2015