文｜三言财经  

qianbujiu，woermafabu2025cainiandisanjiduyejibaogao，caibaoxianshi，shanmuzhongguoqiansanjiduxiaoshoue152yimeiyuan，yueherenminbi1000yiyuan。

woermaquanqiuzongcaijianshouxizhixingguandongminglunjieshao，muqianwoermazhongguoyueyou50%xiaoshouelaizixianshangqudao。shichangrenshifenxi，gaichengjihendachengdushangdeyiyuqiyiqianzhicangweihexindejishilingshouyewu。

zhongguoyoujuyanyujiao“wailaideheshanghuinianjing”，ershanmukeyishuozaijishilingshoulingyubazheijuyanyuyanyidelinlijinzhi。cangdianmoshiqishishiguoneiduchuangdejishilingshoumoshi，danshibazheizhongmoshizuodefengshengshuiqidequeshiyijiawaiziqiye。

yiqianhenzhangyiduanshijianli，cangdianmoshizhong，zuiweichangjiandeshengxiandianshangqianzhicangcengbeishouzhiyi。qianyoumeiriyouxianhongrandaoxia，houyouhemahouyiduanyanqi“bukenengyingli”。

neime，rujinweihe“cang”yousihuchengweilejishilingshouxingye“zhishengfabao”？

muqian，zaijishilingshouqianzhicangsaidao，yijingxingcheng“qunxiongzhanshanmu，lingshoupinpaiqiang‘cang’”detaishi。yaojiedashangmiandewenti，bufanglaikankanzheijijiajutoushiruhezuode。

山姆：已拥有超500座前置仓

shanmuhuiyuandianzaiguoneidechenggong，hendachengdushangyaoguigongyutongguoqianzhicangdajiandejishilingshounengli。

shanmuzi2018nianqijiukaishishidianqianzhicang，xiangkehutigongjisudafuwu。jiezhimuqian，shanmuzaiquanguoyijingyouchaoguo500zuoqianzhicang。

zuichu，qianzhicangshixiaogaodeyoushizhuyaoyingyongyushengxianleichanpin，nenggougengkuaidebadui“baoxian”xuqiugaodeshangpinsongzhizhongduanxiaofeizheshouzhong。

ershanmuzeshijinyibujiangqianzhicangyoushifugaidaoquanpinleishang，baokuoshipin、riyongpin、jiajuyongpindengduolingyu。manzuhuiyuanduoyanghuaxuqiu，tongshiyetigaokedanjiaheyonghuzhanxing。

zhinenghuaguanliyeshishanmuzouqianzhicangluxianchenggongdezhongyaohuanjie。tongguodashujufenxihezhinengsuanfa，nenggougengjiajingzhundejinxingkucunguanli。

keyizhenduibutongshequxuqiushujujuedingduiyingqianzhicangdeshangpinskupinlei，zaipeihegaoxiaodepeisongfuwu，yonghutiyandafutisheng。

ciwai，shanmuzaizhongguojingyingduonian，duigongyinglianguanliyefeichangzhongshi。bizheciqianfenxiqianzhicangmoshishijiucengzhichu，shanmuhaofeidaliangjinglizaigongyinglianguanlishang。

liruyixieyoujishangpinxuyaotiqian3nianjinghuatudi，ershanmushangpinguihuaqishiyinianzhiyinianban。suoyizaicaigouhuanjieshanmujiuyugongyinglianyuantouchangshangjianlizhangqihezuo。shideshanmukeyizaiyuanliaojiagebodongqiansuodingyuancailiao，jianshaoyuanliaojiagebodongduizuizhongshangpinjiagedailaideyingxiang。

suoyijiezhuqianzhicangmoshizaijiaxizhidegongyinglianguanlidengfangfangmianmian，shanmushixianshangpinzhongleiduoyanghua、jiagechengbendi、pinzhigao，nenggouquanfangweimanzuxiaofeizhexuqiu。

yinci，shanmuhuiyuanzhanxinggao，fanguolaizhulishanmuzoutongqianzhicangzheitiaolu。

盒马：曾放弃，如今重新启用

qianzhicangduiyuhemalaishuo，shi“chihuitoucaole”。

hemachuangshirenhouyicengjingpingjiaqianzhicangmoshiwei：“kedanjiashangbuqu，sunhaolvxiabulai，maolilvbubaozheng”。

ruguoyixianzaideqingkuanglaishuo，xianranhouyishuyu“dalian”le。

danshiruguozhanzaihemajiaodu，houyipanduanshihenzhunquede。

2019nian，hemacengjianshe80geqianzhicang“hemaxiaozhan”，danshihennanyingli，zuizhongfangqigaimoshi。duici，houyibiaoshi“qianzhicangjiushizuojivckandemoshi”。

dangnian，meiriyouxian7nianshaoguang140yiyuan；dingdongmaicai3nianshaodiao115yiyuan。ciwai，dao2019nianyiyouchao20jiashengxiandianshangdaobi，jincundewanjiayedoumianlinbutongyali。yincidangshifangqiqianzhicangmoshi，qishishimingzhizhiju。

ershiguojingqian，xianzaideqianzhicangyijingjinfeixibi，jishilingshouduiyugedajutoudezhongyaochengduyouchixutisheng，suoyihemayeyaozhongxinrujule。

jinnian8yuedi，hemakaishizaishanghaizhongqiqianzhicangyewu，bingqiebiaoshiqianzhicangbushixinmoshi、yebushixinyetai。zaihemamendianyijingfeichangmijidechengshi，rengcunzaiyixiexianshengdianzanshifugaibudaodequyu。weijinyibutishengyonghutiyan，jiangshidianshiyongqianzhicanglaijiamifuwubanjing，weizhoubian3gonglijumintigongzuikuai30fenzhongsongdafuwu。

qishiqianzhicangbenshenshiqihehemayewude，zuoweiyitigonggaopinzhishengxianchuquandepinpai，qianzhicangmoshinenggoutigonggenggaoshixiaodefuwu，yonghutiyanqishigenghao。

dancengjingqianzhicangnanyiyinglidewenti，herujinshanmuqiangshijingzhengyalixia，hemayezhongxinshenshilefazhanqianzhicangyewudekenengxing。

congguanfangbiaotaizhongyekeyikanchu，butongyushanmu，hemamuqianjiangqianzhicangzuowei“mibukongque”degongjulaiyong。liruzaishanghai，rengranyouhemamendianweifugaidediqu，neimezaizheixiequyushiyongqianzhicangmoshitigonggaoshixiaofuwu，youzhuyuhematuozhanqiyewuchujiao。

yishengxianleichanpinweizhudehema，zaiduiqianzhicangyewumoshitansuozhongcaiquwushitaidu，jinkenengfahuiqiyoushi，jianshaoqilieshi，zheiyangzuoxiaoguoruhe，haixushijianguancha。

京东：今年“重仓”即时零售

jingdongzuijinyekaishifalijishilingshou。jinnian，jingdongzaijishilingshoulingyudongzuopinpin，duizheiyishichangdezhongshihejuexinbiaoluwuyi。

jingdongjishilingshoudehexinshijingdongmiaosong，qipeisongfuwuzhuyaoyoudadamiaosongfuze。dadajituandecaibaoxianshi，jiezhi9yuemo，jingdongmiaosongyingyemendianshuchao60wanjia，tongbizengzhang70%yishang。tongshi，jingdongmiaosongzaijingdongappchangyudeyuejunxiadanyonghushuhedingdanliangtongbizengsushuangshuangchao100%。

ciqianjumeitibaodao，chuletishengpeisongfuwuwai，jingdongyezaikuodapinpaihezuohepinleifugai。muqian，shoupichaoguo100gezhimingpinpaiyijingkaitonglejingdongmiaosongqijiandian，hangaiduogepinlei。

qixianchaoshi，zeshijingdongjishilingshoudelingyizhongyaobuju。11yue1ri，jingdongxuanbuqixiaziyingchaoshijingdongqixianyuqianzhicangwanchengronghe。jingdongqixianchaoshiyexuexishanmudegongyinglianguanlijingyan。liruqixianchaoshizhongyoubushaozizhupinpai，henduonongchanpinchandidoushichanziqixianzhicaidi。

genjushangwubuguojimaoyijingjihezuoyanjiuyuanfabude《jishilingshouxingyefazhanbaogao》xianshi，jishilingshouxingyeyuji2030nianshichangguimojiangchaoguo2wanyiyuan。

suoyi，cishiburujugengdaiheshi？

其他玩家：零售品牌加“仓”

xiangjiaoshanmuhejingdong、hemadengzhongtourudeziyingxiachangmoshi，bushaolingshouqiyezaizhuanxingzhongxuanzegengqingdepingtaimoshi。biru，mingchuangyoupinyumeituanshandiancangshenduhezuo，xianyikaisheyue500jiacangdian，nianneijihuatupo800jia；quchenshi、bufenglianhuadengkaishipusheshandiancang；zhongshihuayijiesugouyeruzhujishilingshoupingtai，zaiquanguofanweineijiasutuiguangduoyanghuade“cangdian”moshi。

pingtaixingdeshandiancangmoshixia，pinpaiheshangjiayongyouzizhujingyingquan，bujinnenggouzizhufenxiao、chendianshujuzichan、jingyinghuiyuantixi，yeyongyoujiaodadezizhudingjiaquan。youqisuizhexiaofeixiguandejinyibupujihejishipeisongtixidewanshan，yongyougengqianggongyingliannenglidedaxingwanjiazhengjiasujiamashandiancang。zaizheiyangdebeijingxia，shandiancangxingyechengxianchujiasuxipaidequshi，guimoyoushizhujianqingxianggengdadelingshoupinpai。

suizheshichanghuore，jishilingshouhuojiangchengweixinyipianhonghai，cangdianyujihuishiqizhongjingzhengzuijiliedelingyuzhiyi。muqianziyingqianzhicangsaidaoyijingjibenxingchengjingdong、hemadeng“weigong”toubudalaoshanmu，qitalingshoupinpaizejielijishilingshoupingtai，falipingtaixingshandiancang。

huidaokaitoudewenti，weishenmexianzaicangdianmoshiyouhuoleqilai？chuleshanmuzheiyangde“youdengsheng”zuoleshifanzhiwai，qishihaiyouyigezhongyaoyuanyinshixiaofeizhexuqiubeijinyibutuozhanle，shidecangyetaideyoushiqianlideyibeikaifachulai。

guoquqianzhicangjiejuedeshixiaofeizheduishengxianshiwudejishixuqiu，danshiweilejiejueyonghu“zuodunfan”zheizhongdanyixuqiuwenti，qiyeyaodashanggaoangdepeisongchengben，cangchuguanlichengbendeng，zuizhongzaochengbuduanshaoqianzhizhiwulijingyingdejumian。

danxianzai，wulunshiziyingqianzhicanghaishipingtaixingshandiancang，nenggoujiejuedeshixiaofeizheduoyanghuaquanpinleidexuqiu，xuqiu、danliangzengjia，tongshipeihegongyinglian、cangchu、peisongguanli，kedanjiagenggao，lvyuechengbengengdi，suoyi“cang”chengweigedajutouzaijishilingshoushangxindefalidian。

cong2015nianshengxiandianshangqibusuanqidaoxianzai，cangdianmoshiyekuaizouguoshinian，weilai，tayejiangjianzhengguoneijishilingshoushichanggengdadeqianlishifang。congzheiyijiaodukan，qunxiongzhanshanmudejiliejingzheng，duizuodajishilingshouxingyezhengtiguimodayoubiyi。duixiaofeizhelaishuo，zheizhong“juan”yeshiyouliwuhai。