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\"\"<\/figure>\n\n\n\n

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\"\"<\/figure>\n\n\n\n

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\"\"<\/figure>\n\n\n\n

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\"\"<\/figure>\n\n\n\n

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03\u3001<\/strong>\u6b27\u6d32\u62e5\u6709\u591a\u5bb6\u77e5\u540d\u8de8\u5883\u7535\u5546\u5e73\u53f0<\/strong><\/p>\n\n\n\n

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\"\"<\/figure>\n\n\n\n

\u6b27\u6d32\u5404\u56fd\u7535\u5546\u5e02\u573a\u60c5\u51b5\u5982\u4f55\uff1f\u5fb7\u56fdECDB\u53d1\u5e03\u7684\u6b27\u6d32\u7535\u5546\u5e02\u573a\u6700\u65b0\u62a5\u544a\u663e\u793a\uff0c\u4e9a\u9a6c\u900a\u51e0\u4e4e\u5728\u6b27\u6d32\u5404\u5927\u5e02\u573a\u5360\u636e\u7edf\u6cbb\u5730\u4f4d\u3002<\/p>\n\n\n\n

2025\u5e743\u6708\u4efd\uff0c\u4e9a\u9a6c\u900a\u63a8\u51fa\u7231\u5c14\u5170\u7ad9\u70b9\uff0c\u8fd9\u5df2\u7ecf\u662f\u5176\u5728\u6b27\u6d32\u5e02\u573a\u7684\u7b2c 11 \u4e2a\u7ad9\u70b9\u3002\u636e\u4e86\u89e3\uff0c\u4e9a\u9a6c\u900a\u5728\u6b27\u6d32\u4e94\u5927\u7535\u5546\u5e02\u573a\uff08\u610f\u5927\u5229\u3001\u897f\u73ed\u7259\u3001\u6cd5\u56fd\u3001\u5fb7\u56fd\u548c\u82f1\u56fd\uff09\u4e2d\u6bcf\u4e2a\u56fd\u5bb6\u7684\u9500\u552e\u989d\u81f3\u5c11\u662f\u7b2c\u4e8c\u540d\u4f01\u4e1a\u7684\u4e24\u500d\uff0c\u4ee5\u610f\u5927\u5229\u548c\u6cd5\u56fd\u4e3a\u4f8b\uff0c\u4e9a\u9a6c\u900a\u7684\u89c4\u6a21\u8d85\u8fc7\u4e86\u6392\u540d\u7b2c\u4e8c\u81f3\u7b2c\u4e94\u540d\u4f01\u4e1a\u9500\u552e\u989d\u7684\u603b\u548c\u3002<\/p>\n\n\n\n

\u4e9a\u9a6c\u900a\u5728\u6b27\u6d32\u5e02\u573a\u51e0\u4e4e\u5360\u636e\u4e3b\u5bfc\u5730\u4f4d\uff0c\u800c\u4e2d\u56fd\u5356\u5bb6\u5219\u6210\u4e3a\u8be5\u5e73\u53f0\u4e0a\u5907\u53d7\u77a9\u76ee\u7684\u4f7c\u4f7c\u8005\u3002<\/p>\n\n\n\n

\u6839\u636eMarketplace Pulse \u7684\u7814\u7a76\uff0c\u4e2d\u56fd\u5356\u5bb6\u5728\u4e9a\u9a6c\u900a\u5fb7\u56fd\u3001\u610f\u5927\u5229\u3001\u6cd5\u56fd\u548c\u897f\u73ed\u7259\u5e02\u573a\u5747\u5360\u636e\u4e3b\u5bfc\u5730\u4f4d\uff0c\u76f8\u5bf9\u5e94\u7684\u662f\uff0c\u8fd94\u4e2a\u5e02\u573a\u7684\u672c\u5730\u5356\u5bb6\u6bd4\u4f8b\u5747\u4f4e\u4e8e 20%\uff1b\u6b64\u5916\uff0c\u4e9a\u9a6c\u900a\u52a0\u62ff\u5927\u672c\u5730\u5356\u5bb6\u6bd4\u4f8b\u4ec5\u4e3a 4%\uff0c\u4e2d\u56fd\u5356\u5bb6\u7684\u6bd4\u4f8b\u5219\u9ad8\u8fbe42%\uff0c\u5728\u6bd4\u5229\u65f6\uff0c\u672c\u571f\u4f01\u4e1a\u66f4\u662f\u4e0d\u52301%\uff0c\u4e2d\u56fd\u5356\u5bb6\u5360\u6bd4\u51e0\u4e4e\u8fbe\u5230\u4e8650%\u3002<\/p>\n\n\n\n

\u4ece\u4e9a\u9a6c\u900a\u6b27\u6d32\u7ad9\u70b9\u65b0\u6ce8\u518c\u5356\u5bb6\u6570\u636e\u6765\u770b\uff0c\u4e2d\u56fd\u5356\u5bb6\u7684\u6570\u636e\u4e5f\u975e\u5e38\u4eae\u773c\uff0c\u6bd4\u59822024\u5e74\u58a8\u897f\u54e5\u6765\u81ea\u4e2d\u56fd\u7684\u65b0\u5356\u5bb6\u6ce8\u518c\u6bd4\u4f8b\u751a\u81f3\u9ad8\u8fbe 68%\u3002<\/p>\n\n\n\n

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Zalando\u5e73\u53f0\u6210\u7acb\u4e8e2008\u5e74\uff0c\u603b\u90e8\u4f4d\u4e8e\u67cf\u6797\uff0c\u662f\u6b27\u6d32\u9886\u5148\u7684\u591a\u54c1\u724c\u65f6\u5c1a\u5728\u7ebf\u8d2d\u7269\u5e73\u53f0\uff0c\u73b0\u6709\u9762\u5411\u6d88\u8d39\u8005\u7684B2C\u4e1a\u52a1\u548c\u9762\u5411\u4f01\u4e1a\u7684B2B\u4e1a\u52a1\u3002<\/p>\n\n\n\n

2025\u5e74\u4e00\u5b63\u5ea6\uff0cZalando\u5e73\u53f0\u6536\u5165\u540c\u6bd4\u589e\u957f 7.9%\u8fbe24\u4ebf\u6b27\u5143\uff0c\u8c03\u6574\u540e\u606f\u7a0e\u524d\u5229\u6da6\uff08EBIT\uff09\u4e0a\u5347\u81f3 4670\u4e07 \u6b27\u5143\uff0c\u5229\u6da6\u7387\u4e3a 1.9%\uff0c\u8f83\u53bb\u5e74\u540c\u671f\u63d0\u9ad8 0.7 \u4e2a\u767e\u5206\u70b9\u3002\u5e73\u53f0\u4ea4\u6613\u603b\u989d\uff08GMV\uff09\u589e\u957f 6.5%\u8fbe 35\u4ebf\u6b27\u5143\u3002\u6b64\u5916\uff0c\u6d3b\u8dc3\u5ba2\u6237\u6570\u540c\u6bd4\u589e\u957f290\u4e07\uff0c\u8fbe\u52305240\u4e07\u518d\u6b21\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u3002<\/p>\n\n\n\n

MediaMarkt\u5e73\u53f0\u6210\u7acb\u4e8e1979\u5e74\uff0c\u603b\u90e8\u4f4d\u4e8e\u5fb7\u56fd\uff0c2000\u5e74\u6b63\u5f0f\u63a8\u51fa\u7ebf\u4e0a\u7535\u5546\u5e73\u53f0\uff0c\u5982\u4eca\u5df2\u7ecf\u662f\u6b27\u6d32\u6700\u53d7\u6b22\u8fce\u7684\u7535\u5b50\u4ea7\u54c1\u96f6\u552e\u5546\u4e4b\u4e00\u3002\u4e3b\u8981\u552e\u5356\u667a\u80fd\u624b\u673a\u3001\u7535\u89c6\u3001\u7b14\u8bb0\u672c\u7535\u8111\u3001\u5bb6\u7528\u7535\u5668\u7b49\u4ea7\u54c1\u3002<\/p>\n\n\n\n

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El Corte Ingl\u00e9s\u6210\u7acb\u4e8e1940\u5e74\uff0c\u662f\u897f\u73ed\u7259\u76ee\u524d\u552f\u4e00\u7684\u8fde\u9501\u767e\u8d27\u516c\u53f8\uff0c\u4e5f\u662f\u5168\u7403\u7b2c\u56db\u5927\u767e\u8d27\u516c\u53f8\u96c6\u56e2\uff0c\u5949\u884c\u7ebf\u4e0a\u7ebf\u4e0b\u53cc\u8f68\u5e76\u884c\u539f\u5219\uff0c\u5176\u5728\u7ebf\u7535\u5546\u5e73\u53f0\u63d0\u4f9b\u670d\u9970\u7c7b\u3001\u7535\u5b50\u4ea7\u54c1\u3001\u7535\u5668\u3001\u5bb6\u5c45\u3001\u9999\u6c34\u3001\u5316\u5986\u54c1\u7b49\u591a\u54c1\u7c7b\u4ea7\u54c1\u3002<\/p>\n\n\n\n

Mercadona \u6210\u7acb\u4e8e1977\u5e74\uff0c\u603b\u90e8\u4f4d\u4e8e\u897f\u73ed\u7259\u74e6\u4f26\u897f\u4e9a\uff0c\u662f\u897f\u73ed\u7259\u6700\u5927\u7684\u98df\u54c1\u96f6\u552e\u5546\u4e4b\u4e00\uff0c\u98df\u54c1\u96f6\u552e\u5305\u62ec\u751f\u9c9c\u98df\u54c1\u3001\u52a0\u5de5\u98df\u54c1\u548c\u6709\u673a\u98df\u54c1\uff0c\u975e\u98df\u54c1\u4e1a\u52a1\u5305\u62ec\u5bb6\u5c45\u7528\u54c1\u3001\u7f8e\u5bb9\u548c\u5065\u5eb7\u4ea7\u54c1\u3001\u5ba0\u7269\u7528\u54c1\u7b49\u3002<\/p>\n\n\n\n

Carrefour\uff08\u5bb6\u4e50\u798f\uff09\u6210\u7acb\u4e8e1959\u5e74\uff0c\u603b\u90e8\u4f4d\u4e8e\u6cd5\u56fd\u3002\u5bb6\u4e50\u798f\u662f\u5168\u7403\u7b2c\u4e8c\u5927\u96f6\u552e\u5546\uff0c\u62e5\u6709\u81ea\u5df1\u7684\u5728\u7ebf\u8d2d\u7269\u5e73\u53f0\uff0c\u63d0\u4f9b\u5728\u7ebf\u8d2d\u7269\u548c\u914d\u9001\u670d\u52a1\u3002<\/p>\n\n\n\n

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Tesco\u6210\u7acb\u4e8e1919\u5e74\uff0c\u603b\u90e8\u4f4d\u4e8e\u82f1\u56fd\u8d6b\u7279\u798f\u5fb7\u90e1\u7684\u5207\u4ec0\u4ea8\u7279\uff08Cheshunt\uff09\uff0c\u63d0\u4f9b\u8d85\u8fc73\u4e07\u79cd\u5546\u54c1\uff0c\u6db5\u76d6\u98df\u54c1\u3001\u5bb6\u5c45\u7528\u54c1\u3001\u670d\u88c5\u3001\u7535\u5b50\u4ea7\u54c1\u7b49\u591a\u4e2a\u54c1\u7c7b\uff0c\u5e76\u5f00\u8bbe\u4e86\u5728\u7ebf\u7535\u5546\u5e73\u53f0\u3002<\/p>\n\n\n\n

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