#Laogao E-commerce Newsletter# [E-commerce Evening News on July 6]

      Evening information : South Korea's online shopping transaction volume exceeded 16 trillion won for the first time in May and increased by 26% year-on-year; Shenzhen Special Economic Zone Data Regulations announced: Big data can be fined up to 50 million yuan; 1688 will upgrade the "Heart Trust Merchants Store Top Section" of mobile phone shops; Kuaishou E-commerce's first "Second Luxury Idle Good Goods Festival" ended: the average customer unit price is 8,700 yuan; the list of China's top 100 retail sales in 2020 was released by Tmall, JD.com, and Pinduoduo in the top three...

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E-commerce newsletter

1. The list of top 100 retail sales in China in 2020 was released by Tmall, JD.com and Pinduoduo in the top three

      On July 6, the official website of the China National Commercial Information Center released the list of the top 100 retail sales in China in 2020 today. Data shows that in 2020, the top 100 retail sales in China exceeded 10 trillion yuan, an increase of 20.9% year-on-year. The top five of the list are Tmall, JD.com, Pinduoduo, Suning.com, and Dashang Group. The China National Commercial Information Center pointed out that in 2020, the growth rate of sales scale of e-commerce companies among the top 100 retail companies slowed down slightly, but it still maintained rapid growth. The sales scale of five e-commerce companies among the top 100 retail companies reached 7.7 trillion yuan, a year-on-year increase of 30.3%, and the growth rate slowed by 2.6 percentage points compared with the previous year. The 5 e-commerce companies are Tmall, JD.com, Pinduoduo, Vipshop, and Yunji. Among them, Tmall's sales exceeded 3 trillion for the first time, accounting for 41.7% of the five e-commerce companies. (E-commerce News)

2. Organization: OPPO, vivo and Xiaomi's 5G smartphone sales reached US$15 billion in the first quarter

      July 6th news, according to Strategy Analytics' latest report "Global 5G and LTE revenue and supplier ASP report", OPPO, vivo and Xiaomi received US$15 billion in 5G smartphone sales in the first quarter of 2021. The 5G revenue of these three suppliers is almost twice that of LTE revenue over the same period. As high-end devices turn to 5G, the value of the LTE phone market has dropped by half in the first quarter of 2021. Previously, Xiaomi released its first quarter financial report for 2021, showing that during the reporting period, Xiaomi's smartphone business revenue reached 51.5 billion yuan, a year-on-year increase of 69.8%. (Sina Finance)

3. Kuaishou E-commerce's first "Second Luxury Idle Good Goods Festival" ended: the average customer unit price is 8,700 yuan

      According to July 6, recently (June 29), the first "Second Luxury Idle Good Goods Festival" of Kuaishou E-commerce officially ended. It is understood that the sales of this shopping festival cover nearly 2,000 luxury brands. 20 anchors conducted 24-hour uninterrupted live broadcasts. The total transaction volume of the event exceeded 8 million, the cumulative number of viewers exceeded 4.63 million, the average average customer price of the event was as high as 8,700 yuan, and the highest single product price was 219,000 yuan. The overall average daily sales of the anchors participating in the event increased by more than 435% month-on-month. Among many categories, second-hand luxury watches have become a hot topic. Among the top 10 anchors in the popularity rankings, watch anchors occupy 7 seats. (CCTV)

4. 1688 will upgrade the "Heart Trust Merchants Store Front Section" on mobile phone

      According to July 6, the 1688 platform recently issued an announcement stating that for the top section of the mobile store of the honest merchant (there are three sets of data: consultation, logistics, and quality), through buyer research, it was found that this section is not very helpful to buyers to understand the merchant's ability and buyer's purchase decisions (the survey found that buyers prefer to understand the merchant's ability from the introduction of the merchant's company). For this reason, the 1688 platform will upgrade the homepage display style of the mobile store before July 29, 2021, and supplement the three sets of data in the front section with more detailed instructions and data to the company's introduction, so that buyers can understand the merchant's ability more realistically and clearly. (E-commerce News)

5. KK Group is led by JD.com to invest US$300 million in new financing and post-investment valuation of US$3 billion

      According to 36Kr, following the completion of RMB 1 billion E round of financing in August last year, trendy retail ecological enterprise KK Group recently received a new financing of US$300 million led by JD.com, with some new and old shareholders following the investment, with a post-investment valuation of approximately US$3 billion, equivalent to approximately RMB 20 billion. In response, KK Group said it would "not comment yet." It is reported that so far, KK Group has completed 7 rounds of financing, including Shenzhen Venture Capital, Jingwei China, CMC Capital, Hongtai Fund, Heiyi Capital, Brilliant Capital, etc. According to information, KK Group was founded in 2015 and includes the one-stop beauty brand THE COLORIST colorist, the global trendy toy collection brand X11, and the main lifestyle store brand KKV. (E-commerce News)

Internet news

6. Shenzhen Special Economic Zone Data Regulations announced: Big data can be fined up to RMB 50 million

      On July 6, the "Shenzhen Special Economic Zone Data Regulations" was announced on the website of the Municipal People's Congress Standing Committee today and will be implemented from January 1 next year. This is the first basic and comprehensive legislation in the domestic data field. The Regulations impose heavy penalties on issues such as "no use if it is not fully authorized", "big data kills old customers", willful collection of personal information, and forced personalized advertising recommendations. Among them, the Regulations clearly stipulate that market entities shall not use illegal means to obtain data from other market entities, shall not illegally collect data from other market entities to provide alternative products or services, and shall not use data analysis to differentiate treatment to counterparty transactions with the same transaction conditions without justifiable reasons. If the above provisions are violated and the circumstances are serious, a maximum fine of no more than 50 million yuan will be imposed. (Sina Finance)

Cross-border newsletter

7. AliExpress's third overseas offline store has settled in Barcelona, ​​Spain

      July 6th news, on the morning of July 3rd local time, AliExpress's third overseas offline store officially landed at the Gran Vía 2 shopping center in Barcelona, ​​Spain. According to reports, the store's products cover consumer electronics, mobile phones, TVs, computers and household goods, including brand products such as Xiaomi, Lenovo, Apple, and Microsoft. It is worth mentioning that AliExpress is the largest cross-border retail e-commerce platform in China under Alibaba, and Spain is one of the important markets of AliExpress. In the last fiscal year, AliExpress's total sales (GMV) in the Spanish market increased by nearly three digits year-on-year. (Beijing Business Daily)

8. Yonghui Cross-border Purchase Anniversary Events

      On July 6, Yonghui Supermarket announced today that Yonghui cross-border purchase will start its anniversary celebration from July 7 to 20, including direct reduction, full discount, and delivery of coupons. According to reports, many international brands have entered Yonghui cross-border shopping, and consumers can place orders on the Yonghui Life App and Yonghui Life Mini Program. It is understood that since Yonghui Cross-border Purchase was established in 2020, its cross-border Purchase business has developed rapidly, becoming the most popular category in the just-passed Yonghui 618, with sales growth of up to 25 times. In addition, Yonghui Cross-border Purchase will plan to explore a new integration of offline physical stores and cross-border e-commerce. (Yibang Power News)

9. South Korea's online shopping transaction volume exceeded 16 trillion won for the first time in May and increased by 26% year-on-year

      According to Yonhap News Agency on July 6, preliminary statistics released by the South Korean Statistics Office on the 6th showed that the total amount of online shopping transactions in South Korea exceeded 16 trillion for the first time in May, reaching 16.0594 trillion won (approximately RMB 91.7 billion), an increase of 26% year-on-year. During the same period, the mobile transaction volume increased by 31.6% year-on-year to 11.4346 trillion won. The mobile transaction volume accounted for 71.2% of the total online shopping transaction volume, an increase of 3.1 percentage points year-on-year. By product type, the online shopping transaction volume of catering services increased by 62.2% year-on-year, and the food increased by 38.1%. According to the Department of Statistics, the economic situation has recently recovered, and the increase in online shopping transaction volume has also increased. The volume of catering services and food transactions has driven the increase in the total online shopping transactions. (Economic Reference News)

10. The "three-state" IPO of cross-border e-commerce comprehensive service provider has been accepted by the Shenzhen Stock Exchange

      July 6th news, recently, Shenzhen Sanshi E-Commerce Co., Ltd. (hereinafter referred to as "Three State"), which focuses on cross-border e-commerce export business, applied for the GEM IPO and was accepted by the Shenzhen Stock Exchange. According to reports, Sanshi is a comprehensive enterprise engaged in export cross-border e-commerce retail and third-party export cross-border e-commerce logistics. Since 2007, the company has focused on export cross-border e-commerce retail business and has created a cross-border e-commerce ecosystem. In 2009, it has derived export cross-border e-commerce logistics business. According to the prospectus, Sanshi plans to issue no more than 118.46 million shares in this public offering, accounting for no less than 15.0168% of the total share capital after issuance. In 2020, Sanshi's operating income was 1.994 billion yuan and net profit was 214 million yuan. (36Kr)