近十年来，互联网、物联网以及大数据等新技术的快速迭代对零售业产生了巨大的影响，各大零售企业纷纷向全渠道零售转型。苏宁是传统实体零售商中较早进行全渠道转型的企业，走上了线上线下融合之路，取得了一定的成果。通过对苏宁易购的线上线下融合过程分析，本文认为，企业线上线下渠道融合是个长期的过程，转型期必然会面临着经营业绩下滑，财务指标所反映各项能力有所下降，这并不意味着企业的转型失败，但是，企业需要关注财务问题，避免出现财务危机；企业的线上线下融合过程实际上是企业对自身资源的协同利用过程，根据自身核心竞争力，合理配置资源，将有利于企业的长期发展。

In the past decade, the rapid iteration of new technologies such as the Internet, the Internet of Things, and big data has had a huge impact on the retail industry, and major retail companies have turned to omni-channel retail. Suning is an early omni-channel transformation enterprise among traditional brick-and-mortar retailers. It has embarked on the road of online and offline integration and achieved certain results. Through the analysis of the online and offline integration process of Suning Tesco, this writter believes that the integration of online and offline channels is a long-term process. The transition period will inevitably face a decline in operating performance, and the financial indicators reflect the decline in various capabilities. It does not mean that the transformation of the enterprise fails, but the enterprise needs to pay attention to financial problems and avoid financial crisis. The online and offline integration process of the enterprise is actually the collaborative utilization process of the enterprise's own resources. According to its core competitiveness, the resources are rationally allocated. Conducive to the long-term development of enterprises.

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