A Study On The Performance Of New Retail M & A Based On Balanced Scorecard

In recent years,with Internet technology developing increasingly faster,the online retail industry has become increasingly competitive and the market has become saturated.With the development of emerging Internet digital technology,it has brought challenges to e-commerce enterprises,more and more e-commerce platforms start to seek a new way out.In 2016,Jack Ma put forward a “New retail concept” which has been welcomed by the retail enterprises in hot pursuit the moment it was proposed.The new retail is a new retail mode which deeply integrates the online service,the offline service and the modern logistics,which can enhance consumer’s experience and satisfaction,and enhance enterprise’s competitiveness.At the same time,the “Opinions on promoting the innovation and transformation of physical retail” issued by the State Council in 2016 states in particular that physical retail enterprise need to speed up transformation and upgrade to achieve the integration of online and offline.Therefore,more and more retail enterprises adjust their development strategy hoping to expand their scale and acquire resources through M & A.However,there are some risks in such cross-domain M & A,whether the expected results can be achieved after M & A has become the most concerned issue for retail enterprises,so it is very important to select a scientific and comprehensive evaluation method to evaluate M & A performance.In this paper,we choose the well-known case of Suning Tesco merging Carrefour China as a research entry point to analyze the M & A performance of new retail enterprises,and build a scientific and comprehensive M & A performance evaluation system based on balanced scorecard.First of all,this paper analyzes in details the reasons and process of Suning Tesco merging Carrefour China and the integration of personnel construction,management concept,organization structure and operation mode after the M & A.Then,the balanced scorecard index system is constructed from the aspects of the feasibility and necessity of balanced scorecard as a performance evaluation method and the selection of indicators.From the financial aspect,we use the traditional analysis method combining Eva analysis method to analyze the financial performance after M & A;from the non-financial aspect,we evaluate the M & A performance comprehensively from the three dimensions as the market and the customer,the internal process,the growth and the study.In the case analysis section,this paper selects the financial data of Suning Tesco from 2017 to 2021 September for vertical comparison,and selects industry average as well as part financial data of JD.com and Gome for vertical comparison,to evaluate comprehensively the performance of Suning Tesco E & A.The study found that the financial performance of Suning Tesco E & A is average,but it has a positive effect on non-financial performance especially on supply chain integration,member integration of both sides and consumer satisfaction,which has promoted the strategic development of the whole-scene intelligent retail of Suning Tesco.