Research On The Strategic Transformation And Performance Of M&G Under The Background Of New Retail

In the context of consumption upgrading,consumers have higher requirements for convenience,experience and quality of consumption,and retail industry is facing a new round of reform.In this context,the concept of "New Retail" was born,and the new retail model integrating online and offline was regarded as the mainstream of retail industry in the future.In the new retail environment,stationery industry is facing more external environmental uncertainty.The domestic stationery industry is faced with such problems as declining performance,business loss and intensifying competition.Consumers' demand for stationery products also presents a trend of branding and personalization,and the stationery industry has reached an inevitable stage of transformation and upgrading.Based on the above background,this paper firstly sorts out and summarizes the relevant theories of new retail,strategic transformation and strategic transformation performance evaluation.Then,Chenguang stationery(M&G),a leading enterprise in the stationery industry in China,was selected as the research object.Faced with the difficulties of the industry,M&G has gradually carried out strategic transformation since 2016.This paper analyzes the causes,measures and effects of its strategic transformation based on relevant theories,and evaluates the effects of its strategic transformation from the perspectives of financial performance,non-financial performance and market performance by means of financial statement analysis,EVA and Tobin's Q Ratio.This paper holds that: from the perspective of financial performance,the new retail business of M&G stationery has a negative impact on the company's financial performance,but it does not affect the steady growth trend of the company's overallperformance due to its low proportion in the company's overall business and improving profitability.Two other transformation measures,the office direct sales platform and the online business platform have achieved a return to profit,and maintain the trend of continuous growth in revenue and net profit,the company's contribution to the performance of the gradual increase.From the perspective of non-financial performance and market performance,the strategic transformation enables M&G stationery to realize the transformation from stationery to cultural and creative field,expand the business scope,accelerate the market expansion,expand the brand influence,steadily increase the stock price and further enhance the market value.So,the morning stationery basic completed the strategic transformation of its intended target.The end of the article on the basis of the analysis of the M&G strategic transformation,on the strategic transformation of stationery industry puts forward some enlightenment,that is,new retail model is stationery business transformation in one direction,but strategic transformation needs to fully analyze the enterprise internal and external environment,and timely adjust strategy according to actual situation,so as to help strategic transformation to achieve the desired effect.