A Study On The Profitability Of Happigo Based On The Core Competitiveness

Around the retail industry transition to upgrade,under the tide of "Internet +",many new retail model emerge.Through business model innovation Happigo has been successful in the eight hundred O2 O project.In this context,through the pleasure of the purchase of profitability research for Chinese TV shopping enterprises and even the development of e-commerce enterprises have a certain significance.This paper first analyzes the core competitiveness of Happigo,including channel cost competitiveness,O2 O business capacity and operational capacity;Secondly,the use of scale analysis,analytic hierarchy process,activity-based costing method to channel cost competitiveness analysis use in procurement cost,storage cost and supply chain cost.Then,the financial analysis is carried out on the profitability of the Happigo.The return on investment capital and the average return on capital are used as the main analysis indexes.The factors influencing the return rate of investment capital are decomposed by DuPont method.As follows: free cash flow yield,investment capital growth,return on net assets,profit margins and turnover rate.Finally,the paper puts forward the corresponding improvement tactics to the problems faced by the Happigo development.