Baozun Inc. BZUN

Competitive advantage analysis · consumer-cyclical

Corporate Default
Overall moat score
52/100
Moderate

Ranked against 42 peers in Internet Retail

About Baozun Inc.

Baozun Inc., through its subsidiaries, engages in the provision of end-to-end e-commerce solutions in the People's Republic of China. It operates in two segments, E-Commerce and Brand Management. The company offers end-to-end e-commerce solutions, including sales of apparel, and home and electronic products; online store design and setup; visual merchandising and marketing; online store operations; customer services; warehousing; and order … Full BZUN analysis →

Key strengths

  • Margins Stable Across Cycles Operating margin volatility is low (stability score 0.97), demonstrating pricing resilience across cycles.
  • Revenue Growth Consistent Revenue growth volatility is low (stability score 0.87), suggesting sticky customer base.

Key risks

  • Elevated Debt Risk Debt serviceability is weak (score 0.19), raising refinancing risk.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate
60
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where BZUN ranks in Internet Retail

Baozun Inc. ranks #17 of 43 scored companies in Internet Retail by moat score — the top 40%. The widest moat in the group is PDD Holdings Inc. (PDD) at 77/100.

# Company Moat score Rating
13 Alibaba Group Holding Limited BABA 60/100 Moderate
14 Hour Loop, Inc. HOUR 55/100 Moderate
15 ATRenew Inc. RERE 55/100 Moderate
16 JD.com, Inc. JD 52/100 Moderate
17 Baozun Inc. BZUN 52/100 Moderate
18 Coupang, Inc. CPNG 52/100 Moderate
19 Wayfair Inc. W 48/100 Developing
20 Natural Health Trends Corp. - C NHTC 47/100 Developing
21 Newegg Commerce, Inc. NEGG 43/100 Developing

See every General Corporate company ranked by moat score →

How BZUN scores on the Corporate Default defenses

Pricing Power

Score 60 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 44 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 70 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 43 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 40 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 57 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding BZUN's moat

What is Baozun Inc.'s moat score?

Baozun Inc. (BZUN) scores 52 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #17 of 43 scored companies in Internet Retail, the top 40%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 42 companies in Internet Retail. Its strongest defense is Customer Stickiness (70/100) and its weakest is Resilience (40/100).

How does Baozun Inc. compare with other Internet Retail companies?

Baozun Inc. ranks #17 of 43 scored companies in Internet Retail by moat score. The widest moat in Internet Retail is PDD Holdings Inc. (PDD) at 77/100. The companies ranked closest are JD.com, Inc. (JD) at 52 just above it and Coupang, Inc. (CPNG) at 52 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 42 companies in Internet Retail. The defenses are then weighted to produce the overall score out of 100.

Why is Baozun Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Baozun Inc.?

The Corporate Default template measures 6 defenses, and BZUN scores: Pricing Power (60), Cost Advantage (44), Customer Stickiness (70), Capital Efficiency (43), Resilience (40), Scale & Market Position (57). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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