Research On The Influence Mechanism Of E-commerce Model On Enterprise Value Under The Background Of New Retail

After experiencing the Internet dividend,the traffic dividend in the post-commerce era is gradually disappearing,the growth of e-commerce e-tailing is gradually slowing down,and e-commerce companies are facing a development bottleneck.Under such circumstances,new retailing has brought new development opportunities for the ecommerce industry,and leading companies in the industry have started to innovate their business models to break through and enhance their competitiveness.Since business model innovation in the new retail environment has become an important choice for companies to achieve success,this paper intends to use Xiaomi and YEATION as case studies to investigate the impact mechanism of e-commerce business model innovation on enterprise value in the context of new retail,hoping to obtain meaningful lessons from them.This paper reviews the theory and practice of the connotation of new retail,the elements of business model and the influence of business model on enterprise value.The theoretical structure of e-commerce business models is introduced,and the mechanism of business model innovation on enterprise value in the context of new retailing is explored.The key components of e-commerce business models are classified into positioning,key resources and capabilities,and business systems.The impact of innovation on value proposition,value creation and value capture is explored according to the connotative characteristics of each component.The impact of resources and capabilities on enterprise value creation is analyzed by describing the operational model and supply chain effects under the business model,and finally the impact of business system elements on enterprise value acquisition is explored through financial performance and Tobin’s Q.The impact mechanisms of Xiaomi and YEATION ’s business models on enterprise value are summarized respectively.Through the case studies,we found that both Xiaomi’s and YEATION’s business model innovation achieved the enhancement of enterprise value,and summarized three mechanisms of business model’s influence on enterprise value:(1)mastering key resources and capabilities to enhance value creativity;(2)improving business system to enhance value acquisition;and(3)finding the right market position to enhance value proposition.Finally,the conclusions and shortcomings of this paper are summarized.This paper explores the impact of e-commerce business model innovation on enterprise value from the perspective of new retailing,and provides useful references for other ecommerce enterprises to transform and develop in the new business environment.