#Laogao E-commerce Newsletter#[E-commerce Morning News on May 19]

      Kuaishou launches the 616 Quality Shopping Festival to join the 618 war; Douyin and Didi’s internal testing of OTA platforms; NetEase Yanxuan: The scale of omni-channel payment users increased by 26.2% year-on-year in Q1 2021; Shopee, a cross-border e-commerce platform in Southeast Asia, 2021, earnings of US$920 million; Walmart’s revenue in Q1 revenue of US$138.31 billion US dollars in Q1 US e-commerce sales increased by 37%...

      Lao Gao provides everyone with the latest and most valuable Internet and e-commerce information every day.

E-commerce newsletter

1. Baozun E-commerce's Q1 financial report in 2021: revenue of RMB 52.9 million increased by 313.4% year-on-year

      On May 18, Baozun E-Commerce announced its first quarter financial report for 2021. During the reporting period, Baozun E-Commerce's operating income was 52.9 million yuan, a year-on-year increase of 313.4%; the operating profit margin was 2.6%, compared with 0.8% in the same period last year. The net profit attributable to common shareholders of Baozun E-commerce Co., Ltd. under non-GAAP was RMB 61.2 million, an increase of 135.5% year-on-year. The net profit margin under non-GAAP was 3.0%, compared with 1.7% in the same period last year. (E-commerce News)

2. Kuaishou launches 616 Quality Shopping Festival to join the 618 War

      According to May 18, [Yibang Power News] On May 18, Kuaishou held the launch conference of the Kuaishou 616 Quality Shopping Festival, which was held in the form of live broadcasts within the Kuaishou App. Liulang, the head of Kuaishou e-commerce product, Luo Qiong, the head of Kuaishou e-commerce platform experience, and Zhang Yipeng, the head of Kuaishou e-commerce marketing center, gave introduction speeches with the themes of "Catching the growth dividends of Kuaishou 618 Merchants", "Kuaishou's Trust Economy", and "Kuaishou 616 True Night".

      At the press conference, Luo Qiong said that Kuaishou is creating the second growth curve of Kuaishou e-commerce through the trust economy. Liulang introduced that April 30 to May 20 is the investment stage of Kuaishou 616 Quality Shopping Festival. Merchants with a store shopping experience with a star rating of 4 stars can participate in the event after providing live broadcast plans and store general coupons; from May 20 to June 14, 6 special events will be held, and on June 15, Kuaishou Store and Zhejiang Satellite TV and Jiangsu Satellite TV will hold the "Kuaishou 616 True Night" evening party.

      Kuaishou will provide public domain traffic support to merchants and anchors participating in this quality shopping festival, including exclusive traffic, commercial support and new customer redemption rights. (Yibang Power)

3. Douyin and Didi internal testing of OTA platforms

      Douyin recently tested a business called "Mangosteen Travel". The product is presented in the form of an independent mini program within Douyin. The "Mangosteen Travel" platform includes ticket booking, hotel booking and other functions, and supports the completion of closed-loop from video planting to transactions within the Douyin App. In addition, Didi also tested a website called "Xiaoju Travel Agency" not long ago, which includes domestic tourism, foreign tourism and other businesses, but does not support purchases. It should be a simple travel website template. (Tech Planet)

4. NetEase Yanxuan: The scale of omni-channel payment users increased by 26.2% year-on-year in Q1 2021

      According to reports on May 18, NetEase released its first quarter financial report today. During the reporting period, NetEase Online Game Service's net income reached 15 billion yuan, a record high; NetEase Youdao's net income reached 1.3 billion yuan, an increase of 147.5% year-on-year. In the first quarter, NetEase Innovation and other businesses developed steadily, with revenue increasing by 39.7% year-on-year. Among them, NetEase Yanxuan continued to focus on the new consumer brand track, with the scale of omni-channel payment users increasing by 26.2% year-on-year. In addition, NetEase Yanxuan continues to optimize the membership experience, and the utilization rate of Pro membership rights has been further improved. In this quarter, the number of Yanxuan Pro members increased by 258% year-on-year, and the sales contribution of Pro members across the entire site increased by 71% year-on-year. (E-commerce News)

Cross-border newsletter

5. Southeast Asian cross-border e-commerce platform Shopee 2021 Q1 financial report: revenue of US$920 million

      On May 18, Shopee, a cross-border e-commerce platform in Southeast Asia, released its Q1 2021 financial report, with revenue of US$920 million, an increase of 250% over the same period last year, with a total order of approximately 1.1 billion orders and a GMV of US$12.6 billion. (Yibang Power)

6. Amazon intends to acquire MGM with an estimated price of US$7-10 billion

      According to foreign media reports, Amazon is negotiating with MGM to try to acquire the company. People familiar with the matter estimate that MGM's valuation may be between $7-10 billion. (Titanium Media)

7. Walmart's revenue in Q1 was US$138.31 billion USD E-commerce sales increased by 37%

      On May 19, Walmart Department Store released its first quarter financial report for the 2022 fiscal year. The report showed that Walmart's revenue in the first quarter was US$138.31 billion, a year-on-year increase of 2.7%, and the market expected US$131.97 billion; net profit attributable to shareholders was US$2.73 billion, a year-on-year decrease of 31.6%, and the market expected US$3.437 billion. In the first quarter, Walmart's US same-store sales increased by 6% year-on-year, and its e-commerce business revenue increased by 37% year-on-year; Walmart International's net sales were US$27.3 billion, a year-on-year decrease of 8.3%, and its e-commerce sales increased by 49% year-on-year. (E-commerce News)

8. eBay: Seller will be able to cancel the buyer's timeout unpaid item order

      According to May 18, today, eBay issued an announcement stating that starting from May 2021, sellers will no longer need to initiate complaints to buyers for unpaid items or send payment reminders to buyers. If the buyer does not pay within the specified time limit, the seller can cancel the order manually or automatically through the "Sold Items (Sold)" tab in My eBay. According to reports, after the promise to purchase the item, the buyer will have 4 calendar days to make the payment. The eBay system will automatically remind buyers to pay in time. If the buyer fails to pay within that time limit, the seller may cancel the unpaid order from the 5th calendar day.

      After canceling the order, the seller can choose to have eBay re-list the item automatically. At the same time, eBay may also return relevant fees to the seller's account according to the fee refund policy.

      Currently, this new feature has been launched to some sellers who will see the Buyer Not Payable option when canceling an order in the Seller Zone or in the Sold tab of My eBay. It is worth mentioning that in the next few weeks, eBay will gradually introduce this option to all sellers.

      It is understood that eBay also mentioned in the spring seller update that starting from the end of April 2021, sellers can view and manage all returns, "Item not received" requests, transaction cancellations, payment disputes and eBay Money Back Guarantee appeals from the Seller Center or My eBay, without having to go to the Resolution Center specifically. (E-commerce News)

Internet news

9. Qunar CEO Chen Gang: In the 16 years since its establishment, more than 50 million users have purchased the first air ticket in his life through Qunar.

      36Kr learned that Qunar CEO Chen Gang said at the 16th anniversary annual meeting that in the past 16 years, more than 50 million users have purchased the first air ticket in his life through Qunar. In 2010, the person who flew the most on Qunar platform booked 46 air tickets, but by 2019, the number became 170, and the average flight was taken every two days a year. On the platform, the per capita travel of users has increased from 1.48 times in 2010 to 5.91 times in 2019, an increase of nearly three times in 10 years. (36Kr)

10. Huawei plans to sell cars in 200 experience stores by the end of July, with a goal of selling 300,000 units next year

      Huawei plans to sell cars in 200 experience stores by the end of July, and expand to more than 1,000 by the end of the year. Yu Chengdong set a goal of selling 300,000 units next year within the company. The first car sold by Huawei, Selis, Huawei Smart Select SF5, has now been booked in one month for more than 6,500 units. The car companies that will cooperate with Huawei to sell cars include BYD, BAIC, Mercedes-Benz and Changan. (Tencent Deep Network)