NET subsidy wars about car smoke: consumer good head-drop, step, network about vehicle-IT information

Bloomberg said recently, due to the way capital compete for China's share markets, allows Chinese consumers to enjoy quality service at lower cost. However, with the advancement of the industry consolidation trend, as well as the tightening of capital, subsidy war is fading away, consumer day is coming to an end. Following is the content of the original.

Last year, Li Weiling (Li Weiling, transliteration) greatly reduced the cost of living in Beijing, thanks to rich investors around the world that are given.

The 30-year old professional advertising people are only 6000 Yuan a month ($ 903), but lived a rich life like: peak shuttle bus, lunch was also sent food home, every now and then I can get some cheap tickets, almost everything on sale in life. This is the dream of many Chinese people, the motivation behind it is the major Internet companies, sovereign wealth funds and international investors demand services to the fast-growing economies of huge amounts of money. However, this dream seems to be too good, too good to last.

From massage to a personal trainer, Baidu and Alibaba and Tencent-backed startups have provided huge subsidies for a wide variety of on-demand services. But as the industry consolidation trend – drops of recent acquisitions is the most typical example of business-Uber China-smartphone users own this rare golden age will go away. Drops deal subsidies intended to end internecine war, this is not the first such deal in the industry, will not be the last--this means that tens of thousands of people like Li Weiling to discount will be less and less.

"Subsidy wars are brutal. Of course, it's good for consumers, but from the point of view of burning money, is harsh. "Partner of SOSV binweilian (William Bao Bean) said," under such circumstances, Chinese consumers have no loyalty, they will only bargain around. Consumer loyalty in China is just empty words. ”

In any field, in any place, Chinese consumers are a force that cannot be ignored. From steel to coal, they inflated the prices of global commodities from the United States to Japan, they buy all over the world. Now they with unparalleled fervor in the wave of on-demand services, various venture firms have been pouring into O2O tide through the crazy price wars to attract users. This has indeed made some achievements: drops quoted official data as saying, the so-called Chinese share market value reached 1.95 trillion US dollars in 2015, the number of up to 500 million.

However, they now enjoy discounts will gradually decline, partly due to two key trends are changing the pattern of China's science and technology industry: one is integrated, is another source of investment to shrink. In recent years, Chinese investment in technology growth: according to the data of PricewaterhouseCoopers, Chinese Internet companies received $ 20.3 billion of venture capital last year, far exceeding the United States US $ 16.3 billion, more than 5 times times are up to 2012.

But there are up and down, up down. Private equity and venture capital flows to China's science and technology industry, and the total amount of investment in China reached its peak last fall. ? Week analyst for PricewaterhouseCoopers in Shenzhen Wilson (Wilson Chow) estimates that in 2016, first half of private equity and venture capital compared with the same period last year was about 25%. Regular plying the United States California and County partner of 500 Startups Ma Rui had several of China's most active venture capital funds have been investigating, she found, the Fund transactions were cut in half compared to last year.

"The investment is a global phenomenon, and continued: we are in the midst of winter. "Founder of innovation works, Lee said," the Chinese markets tend to rise and fall in the process of accelerating: once the trend will soon grow 1 time once or twice-but a reversal in the trend, it will fall like a brick. ”

"Many venture capitalists thought that, if users can rapidly increase will translate into profits. If you can get 1 million or 3 million users, everything else will sort itself out. "Kai-Fu Lee said," too many people believed this theory, therefore invested a lot of money. But now, we find that there are many O2O company cannot make money. ”

It also promotes the industry consolidation. After 2015, the size of China's on-demand services have been more than up to billions of dollars of merger: drop-Courier (car), USA-Volkswagen reviews (buying and food), the fair-58 City (classified ads), c-where to go (online). These transactions can see BAT-investors say they contributed to these transactions, and to this end losses. Just Uber and drop in the subsidy funds up to billions of dollars spent in the war.

"Not what they want subsidies for Chinese consumers, but they believe that it will eventually be able to form a monopoly, and therefore worth a lot of money. "GSR ventures management partner and drop early investor Lin Renjun said," so this is using means supporting the legitimacy of the results. ”

Drops of Baidu and other economic fields should be leading companies unveiled his strategy, but no one is willing to disclose specific data. But now, through large-scale mergers create leading enterprises of absolute control over pricing, so no longer need large not posted. Throttle pressure due to shareholders, BAT may also ask them to support startup slow burn speed.

The question now is, are used to pick up cheap consumer will react.

In car, for example: in recent months, a number of mainstream service subsidies have been reduced by more than 80%. According to a user's record, Uber discount from peak 8 months ago in Beijing, 8 per cent to the current 1.4 Yuan. This means that this May only take 8 to complete the order, now takes about 13 Yuan. China car users said that they only enjoy "dash 100 get 20" concessions, and earlier this year was "rushed 100 get 100 free."

Also cut subsidies in other areas. China's largest online services provider e wash bag parent company rongchang yaohua network technology (Beijing) co founder and Chairman, Wing Yiu Cheung, said the company has already begun to reduce discounts.

"Due to the strong demand, even in the absence of substantial subsidies, laundry service can also survive. "He said," the O2O key to success lies in the scale of demand. Laundry and takeaway service is more likely to survive, because these two types of business can easily scale up. ”

In addition, new habits may be hard to get rid of. Consumers might spend to maintain your current lifestyle, even if it leads to long-term deposits. "If a new convenience is addictive, they are hard to reuse traditional service. "Puhuayongdaodeweiersen, Zhou said.

Despite Beijing's Li Weiling did reduce non-core services of the advertiser use less--including a couple of concerts or movies – but market research firm GaveKal Dragonomics Managing Director ASE·kelaobo (Arthur Kroeber), said the new services market as a whole continues to widen. This was due to the economic expansion of China, while China's economic growth has slowed, but the wealthy will continue to grow. He estimated that China's middle income families over the next 10 years to expand more than 1 time, reaching 180 million households. There are still areas in the discounted subsidy. In order to enjoy their accustomed food, Li Weiling must spend more time looking for more concessions.

"One of the service can also provide discounts to my satisfaction. Just need to spend a little more time to find. ”

网约车补贴大战硝烟渐散：消费者好日子到头 - 滴滴出行,优步,网约车 - IT资讯

彭博社近日撰文称，由于各路资本纷纷角逐中国共享经济市场，使得中国消费者得以用极低的成本享受优质的服务。但随着行业整合趋势的推进，以及资本来源的收紧，补贴大战正在渐渐远去，消费者的好日子也即将结束。以下为原文内容。

过去一年，李维玲(Li Weiling，音译)在北京的生活成本大幅降低，这都要拜世界各地财大气粗的投资者所赐。

这位30岁的职业广告人虽然月薪只有6000元(903美元)，但却过着富豪般的生活：高峰期有专车接送，午餐时间还有人送饭上门，时不时地还能买到几张便宜的电影票，生活中的各种东西几乎都在降价。这是很多中国人梦寐以求的生活，它背后的动力则是各大互联网巨头、主权财富基金和国际投资者向增长迅猛的应需服务经济投入的巨额资金。然而，这场梦似乎太过美好，美好得难以持续。

从上门按摩到私人教练，获得百度、阿里巴巴和腾讯支持的创业公司曾经为各种各样的应需服务提供了巨额补贴。但随着行业整合趋势的加剧——滴滴出行最近收购Uber中国业务便是最典型的例子——智能手机用户独有的这段罕见的黄金时期也将渐渐远去。滴滴的交易意在终结两败俱伤的补贴大战，这不是业内第一笔类似的交易，也不会是最后一笔——这意味着成千上万像李维玲一样的人享受到的优惠将会越来越少。

“补贴大战很残酷。诚然，这对消费者有利，但从烧钱的角度来看，的确很残酷。”SOSV创投合伙人宾威廉(William Bao Bean)说，“在这样的环境下，中国消费者已经没有任何忠诚度，他们只会四处捡便宜。消费者忠诚度在中国完全是空谈。”

在任何领域、任何地方，中国消费者都是一支不容忽视的力量。从钢铁到煤炭，他们抬高了全球大宗商品的价格；从美国到日本，他们在世界各地疯狂购买。而现在，他们又以无与伦比的热情投入到应需服务浪潮中，各路创业公司纷纷涌入O2O大潮，通过疯狂的价格战吸引用户。这的确取得了一定成效：滴滴援引官方数据称，所谓的中国共享经济市场在2015年的价值达到1.95万亿美元，参与人数多达5亿。

然而，他们目前为止享受到的折扣将会逐步萎缩，部分原因在于两大关键趋势正在改变中国科技行业的格局：一个是整合，另一个是投资来源的萎缩。最近几年，中国科技行业的投资额大幅增长：根据普华永道的数据，中国互联网企业去年共获得203亿美元风险投资，远超美国的163亿美元，更是达到2012年的5倍多。

但有涨就有跌，有升就有降。流入中国科技行业的私募股权和风险投资，以及整个中国的投资总额都在去年秋天达到顶峰。普华永道驻深圳分析师威尔森·周(Wilson Chow)估计，2016年上半年的私募股权和风险投资而较去年同期减少了约25%。经常往来于美国加州和中国大陆的500 Startups合伙人马睿曾经对中国最活跃的几家风险投资基金进行过调查，她发现，这些基金的交易额都较去年减少了一半。

“投资减少是全球现象，而且仍在持续：我们正处于寒冬之中。”创新工场创始人李开复说，“中国市场往往会在上升和下降过程中加速：一旦形成趋势，就会很快增长一倍或两倍——可一旦趋势逆转，就会像砖头一样落下。”

“很多风险投资家都认为，如果用户能够快速增加，就肯定能转化成利润。如果你能得到100万或300万用户，其他的事情都能自行解决。”李开复说，“太多的人相信这种理论，因此投入了很多资金。但现在，我们发现有很多O2O公司仍然无法赚钱。”

这也推动了行业整合。自从2015年以来，中国应需服务领域出现了多笔规模高达数十亿美元的合并：滴滴-快递(专车)、美团-大众点评(团购和食品)、赶集-58同城(分类广告)、携程-去哪儿(在线旅行)。这些交易都能看到BAT的身影——投资者表示，正是他们促成了这些交易，以此终止亏损。光是Uber和滴滴在补贴大战中花费的资金就多达数十亿美元。

“不是他们想要补贴中国消费者，而是他们认为最终能够形成垄断，因此值得付出大量资金。”金沙江创投管理合伙人兼滴滴早期投资人林仁俊说，“所以，这是在用结果佐证手段的正当性。”

滴滴百度和其他应需经济领域的主导企业都对外公开了自己的策略，但没有一家愿意披露具体数据。但现在，通过大规模的合并交易便可创造绝对定价权的主导企业，所以也就不再需要大幅不贴了。而由于感受到股东施加的节流压力，BAT也有可能要求他们支持的创业公司放慢烧钱速度。

现在的问题是，已经习惯了捡便宜的消费者将会作何反应。

以专车为例：最近几个月，多家主流服务的补贴额已经减少了80%以上。根据一名用户的记录，Uber在北京高峰期的折扣从8个月前的8元降至目前的1.4元左右。这意味着今年5月只需要花费8元即可完成的订单，现在大约需要13元。神州专车的用户表示，他们目前只能享受“冲100送20”的优惠，而今年早些时候则是“冲100送100”。

其他领域也在削减补贴。中国最大在线洗衣服务提供商e袋洗母公司荣昌耀华网络技术(北京)有限公司创始人兼董事长张荣耀表示，该公司已经开始降低折扣。

“由于需求强劲，即使没有大幅补贴，洗衣服务也可以生存下去。”他说，“O2O成功的关键在于需求的规模。洗衣和外卖服务更有可能存活下去，因为这两类业务很容易扩大规模。”

另外，新的习惯可能很难改掉。消费者可能会通过增加开支来维持现有的生活方式，即便这会导致其长期存款减少。“如果新的便利服务令人上瘾，他们就很难重新使用传统服务。”普华永道的威尔森·周说。

尽管北京的广告人李维玲的确减少了非核心服务的使用量——包括少看了几场演唱会或电影——但市场研究公司GaveKal Dragonomics总经理阿瑟·克劳伯(Arthur Kroeber)表示，新服务的整体市场仍在扩大。这完全是因为中国的经济扩张所致，尽管中国经济增速已经放缓，但富裕阶层仍将继续增长。他估计，中国中等收入家庭将在未来10年扩大一倍多，达到1.8亿户。现在仍有一些领域在打折补贴。为了享受到自己已经习惯的美食，李维玲必须要花费更多时间寻找更加划算的优惠。

“其中的一家服务还是可以提供令我满意的折扣。只是需要多花点时间才能找到。”