Based on the year of transformation, this paper sets the investigation period of enterprise performance to 5 years, that is, two years before transformation, one year before transformation, one year after transformation, one year after transformation and two years after transformation. This paper selects the traditional retail listed enterprises that have transformed the e-commerce model before 2013 (including 2013), and carries on the empirical research. There are the following main ways for the source of sample data: