#Laogao E-commerce Newsletter# [E-commerce Morning News on January 11]

　　#Laogao E-commerce Newsletter# [E-commerce Morning News on January 11] 1. Public notice on the adjustment of transaction timeout rules for "waiting for buyers to pay"; 2. Dangdang's book transaction scale in 2017 was 40 billion; 3. JD Logistics and Fafu jointly built a world-class sorting system of 800 million yuan; 4. Beyond LV, the world's number one luxury goods company belongs to China; 5. Buffett: Bitcoin and other digital currencies will not have a good end.

　　E-commerce newsletter

　　1. Public notice on the adjustment of transaction timeout rules of “waiting for buyers to pay”

　　Since the birth of Tmall, the timeout time for "waiting for buyers to pay" has been "three days", that is, transactions that have not been paid after the buyer's auction will be automatically turned off by the Taobao system 72 hours from the time the buyer's auction. With the continuous development of Internet technology and the continuous optimization of transaction experiences such as order placing and payment, consumers can basically complete order confirmation and payment within 24 hours. In order to reduce the time spent on the merchant's inventory and improve the experience on the merchant's side, it is planned to shorten the time for "waiting for buyers to pay". The adjustment of this rule will be announced on January 10, 2018 and will officially take effect on February 1, 2018. The key points of this rule change are as follows:

　　The timeout time of "waiting for buyers to pay" of Tmall General Transactions has been adjusted from 72 hours to 24 hours. The timeout of special transactions such as Juhuasuan remains unchanged. You can click here to view the "Tmall commodity trading timeout regulations". (Source: Tmall Rules)

　　2. Dangdang's book transaction scale in 2017 was 40 billion.

　　On January 10, Dangdang held the 2018 supplier conference today. Chen Lijun, vice president of Dangdang Group, said that in 2017, the scale of Dangdang book transactions reached 40 billion yuan (the price of books) and sold 1.189 billion books. At present, Dangdang has 5 million books on sale, of which the sales and growth rate of children's books and novels are well-known (over 60%). In 2017, Dangdang's registered users increased to 250 million, with annual active users exceeding 40 million, with customer contributions increasing by 18% year-on-year, with a conversion rate of 25%. On average, one purchase is generated for every 4 customers. In addition, after the brand upgrade, Dangdang Cloud Reading APP's sales increased by 126%, and paid users increased by 72%. E-book users read an average of 7.24 books per year and a single-day reading time of 62 minutes. (Source: Phoenix Technology)

　　3. JD Logistics and Fafu jointly build a world-class sorting system with 800 million yuan

　　On January 9, JD.com and Fives Group signed a memorandum of understanding, announcing a technical cooperation project worth approximately RMB 800 million (100 million euros), focusing on the upgrade of JD.com's "Asia No. 1" smart warehousing equipment. JD Logistics will adopt the most mature technology of FF Group in the "Asia No. 1" project, comprehensively improve the degree of automation in the conveying system and automatic sorting system, reduce personnel investment, improve operating efficiency and reduce operating costs, and effectively support the rapid development of JD's business. The technical equipment jointly developed by the two parties will be used in the construction of Asia No. 1 in Beijing, Kunshan, Xi'an and other places. (Source: Lianshang.com)

　　Internet news

　　4. Beyond LV, the world's number one luxury goods company belongs to China

　　Stimulated by the price increase of Moutai, the stock price of Kweichow Moutai, China's highest-priced stock, hit a new high. It closed at 784.1 yuan on the 9th, with a total market value of US$150.9 billion, which has surpassed the total market value of LVMH (Louis Vuitton) of the world-renowned luxury goods group LVMH (Louis Vuitton) for 149 billion. (Source: Sina Technology)

　　5. Buffett: Bitcoin and other digital currencies will not have a good end

　　Warren Buffett said in an interview with CNBC that he would never invest in Bitcoin. Buffett believes that the recent industry fanaticism about Bitcoin and other digital cryptocurrencies will not have a good ending. "For cryptocurrencies, I can almost say that it will not have a good ending," he said. As for when this bad ending will come and how bad it will be, it is difficult to judge at this moment. ” (Source: Sina Technology)

　　6. The iPhone battery explosion occurred in Spain again, and the crowd was evacuated urgently

　　According to Spanish news media Las Provinceas, an iPhone battery explosion occurred at the Apple Calle Colon retail store in Valencia, Spain on Wednesday, causing one floor of the building to be covered by smoke, and the crowd was urgently evacuated. (Source: Sina Technology)

　　7. Huawei's global unstoppable entry into the United States but was obstructed: In the end, it was the user who paid the order

　　According to the Wall Street Journal on January 10, Beijing time, Huawei has gained a large share in the global telecom market. Even in the United States, Huawei has gained favor from small operators with its service and price advantages. However, just as major U.S. operators invested $275 billion to build 5G networks, the U.S. government once again prevented Huawei from entering the U.S. market on the grounds of national security. The pressure from the U.S. government seems to have played a role. The planned cooperation between Huawei and AT&T was cancelled at the last moment. However, without Huawei's competition, the U.S. wireless service costs remain high, and the U.S. consumers are ultimately losing. (Source: Phoenix Technology)

　　Cross-border newsletter

　　8. The first design and procurement hall for joint Alibaba International Station in 2018 was opened, with Chinese suppliers accounting for more than 40%

　　This year, the design and procurement hall jointly launched by CES and Alibaba International Station has better integrated online and offline trade, broadened the original boundaries of CES, and through technological means such as real-time live broadcasts, merchants can not only meet at CES, but also gain convenient trade opportunities here. Alibaba International Station is an early business founded by Alibaba. As the world's leading cross-border B2B platform, it breaks traditional trade boundaries through the Internet and provides an equal trading platform for tens of millions of young people and small and medium-sized enterprises in more than 220 countries and regions around the world. It is reported that the artificial intelligence real-time voice translation system supported by Alibaba DAMO Academy and carried on Alibaba International Station will also be unveiled at this CES exhibition. Through more than ten years of cross-border e-commerce business accumulation, it has accumulated the currently well-known and best-quality cross-border e-commerce corpus database.

　　9. US Customs intercepted seven bags of fake shoes, all of which were replicas of Qiao 11 worth 357,000 yuan.

　　Tencent Sports News: The U.S. Customs and Border Protection issued a briefing saying that the United States has achieved a beautiful victory in combating shoe counterfeiting. In December 2017, the U.S. Customs and Border Protection intercepted seven parcels at Dulles International Airport in Washington, with a large number of fake sneakers inside. The packages were sent from China to the same address in Alexandria, Virginia, USA. According to estimates, the total value of sneakers in the package is as high as US$54,715, which is approximately RMB 357,000. According to the news in the briefing, customs officials immediately identified the authenticity of the sneakers with Nike, and finally determined that the seven packages of sneakers were all fake sneakers. The style of the sneakers is the red replica version of Joe 11, which is one of the most popular replica sneakers on the market.

　　10. Chinese e-commerce Germany is fined and the pressure to increase the cost of overseas taxes

　　Without prior notice, the German Taxation Bureau seized nearly 100 Chinese online merchants on Amazon's German site and confiscated the goods on the grounds that these online retailers were suspected of tax evasion in selling goods on Amazon's German site. Sources revealed that some Chinese e-commerce companies suffered losses of up to 2 million to 3 million euros. (Source: China International E-commerce Network)

　　Today's Lao Gao's opinion

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