Evening news: Kuaishou will close TikTok competitor Zynn in August; Amazon closes some of Prime Air's business in the UK; Ctrip responds to rumors that it plans to acquire the Korean e-commerce Interpark: The news is untrue; Cainiao's affiliated company has established a new IoT technology company with a registered capital of 150 million yuan...
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E-commerce newsletter
1. The business scope of Koala Haigou affiliated companies has added food Internet sales, etc.
According to news on August 4, Tianyan Check information showed that on August 2, Hangzhou Youmai Technology Co., Ltd., an affiliated company of Koala Haigou, underwent industrial and commercial changes, and the company's business scope added veterinary drug operations; food sales; food Internet sales, etc. Hangzhou Youmai Technology Co., Ltd. was established in November 2014. The legal representative is Lu Jianmei, with a registered capital of US$6 million and is wholly owned by Tmall Import and Export Global Shopping Co., Ltd. It is understood that in September 2019, Alibaba announced a strategic cooperation with NetEase, which acquired NetEase’s cross-border e-commerce platform "Koala" for US$2 billion. (E-commerce News)
2. JD Logistics subsidiary was forced to enforce nearly 150,000 yuan
According to news on August 4, Tianyan Check data shows that recently, Hunan Jingbangda Logistics Technology Co., Ltd. added a new information of the person subject to execution, case number Hunan 0112 Execution No. 2714, with the execution target of RMB 148,741. The execution court is the People's Court of Wangcheng District, Changsha City. It is reported that the case is the first execution. According to data, Hunan Jingbangda Logistics Technology Co., Ltd. was established in August 2017. The legal representative is Zheng Yan, with a registered capital of RMB 20 million. Its business scope includes supply chain management and services, cold chain logistics, logistics park operation services and logistics agency services. The company is 100% controlled by Beijing Jingbangda Trading Co., Ltd., the operating entity of JD Logistics. (E-commerce News)
3. Kuaishou will close TikTok competitor Zynn in August
According to Bloomberg, Kuaishou said it will close TikTok competitor Zynn app in August. Kuaishou's overseas short video app Zynn was released in May last year. In June last year, the app was removed from the shelves by Google and Apple. After it is re-listed, the app cancels the system for watching videos to give money rewards. It is reported that the system helped Zynn to the top of the app download rankings earlier. (E-commerce News)
4. Cainiao affiliated company established a new IoT technology company with registered capital of 150 million yuan
According to news on August 4, Tianyan Check information shows that on July 29, Guiyang Chuanyun Internet of Things Technology Co., Ltd. was established with a registered capital of RMB 150 million. The legal representative is Xu Yuedong. The business scope includes Internet of Things technical services; information system operation and maintenance services; intelligent warehousing equipment sales; material handling equipment sales; housing rental, etc. Shareholder information shows that the company is wholly owned by Cainiao Kingfisher Holdings (Hong Kong) Co., Ltd. (E-commerce News)
Internet news
5. Alibaba Digital Economy Industrial Park project will be settled in Ankang Hanbin District, Shaanxi
On August 4th, yesterday, Hanbin District, Ankang City, Shaanxi Province held a matching meeting for Alibaba Cloud Digital Economy Industrial Park project. It is understood that the Alibaba (Ankang) Cloud Digital Economy Industrial Park project relies on Alibaba Group's technology, talents and big data support to provide convenience for all types of operators who meet the park's entry conditions to register market entities, and introduce high-quality enterprises such as e-commerce, science and technology research and development, advanced manufacturing, agriculture, culture and tourism, and modern service industries to land in Hanbin District, laying the foundation and publicity for physical investment promotion and creating a local characteristic digital economy industrial park. (E-commerce News)
6. ZTO Express’s Board of Directors will approve the second quarter results release on August 17
On August 4, ZTO Express issued an announcement stating that the board of directors will hold a board meeting on August 17, 2021, Beijing time to approve the company's unaudited financial results and their release for the second quarter ended June 30, 2021. Previously, the company announced that it would release its second quarter 2021 financial report as of June 30 after the close of the U.S. stock market on August 18, 2021 Eastern Time. (E-commerce News)
Cross-border newsletter
7. Amazon closes some of Prime Air's business in the UK
On August 4, Amazon is closing some of Prime Air's operations in the UK, canceling more than 100 positions, and many employees have been relocated to other projects. Amazon said yesterday that it has recently made organizational adjustments to its Prime Air business. Prime Air is currently shifting from the R&D stage to the operation stage, and Amazon is still working to achieve its goal of delivering to customers through drones within 30 minutes. (E-commerce News)
8. Ctrip responds to rumors that it plans to acquire Korean e-commerce Interpark: The news is untrue
On August 4, in response to the recent reports from Korean media about "Ctrip Travel intends to acquire Korean online retailer Yibaigou", Ctrip said: There are no relevant actions and the news is untrue. The acquisition is intended to expand Ctrip's influence in the fields of tourism and culture in South Korea, the report said. According to information, Yibaigou was established in 1996 and is the first e-commerce company in South Korea. Its businesses include the online mall Interpark Shopping, the online bookstore Interpark Books, the online ticketing website Interpark Ticket, and the online travel agency Interpark Tour. In October 2014, Interpark began to provide international services through Global Interpark. (E-commerce News)
9. Bezos lost the title of world's richest man due to Amazon's stock price fluctuations
According to August 4, Amazon released its second-quarter financial report after the U.S. stock market last Thursday. As sales and net profit growth were lower than expected, its stock price was hit hard. As of the close of last Friday, its stock price fell nearly 7%. It is understood that Arnold leads the luxury goods group LVMH, whose subsidiaries include Louis Vuitton, Sephora and Tiffany. The global pandemic and economic recession have brought the luxury market revenue back, but over the past year, Arnault's wealth has still increased by nearly $100 billion. (E-commerce News)
10. How to activate the TikTok shopping cart function?
TikTok launched an e-commerce function in the UK in April this year. As an overseas version of TikTok, TikTok has developed rapidly, with a total download volume of more than 2 billion times, covering 150 countries. Now that the shopping cart function is activated, people can’t help but think of the previous development model of Douyin, which has gradually developed from the "home page window" to the "video small yellow car" to the current "live streaming sales", and eventually developed into a traffic giant.
Similarly, TikTok e-commerce will surely become a dark horse, and the activation of the shopping cart function is undoubtedly an opportunity. How should sellers seize this opportunity?
In fact, before the TikTok shopping cart function was officially launched, TikTok has been taking measures to divert traffic through website links, allowing TikTok users to add Shopify and Teespring website links to the videos, thereby realizing channel traffic. But this also has a disadvantage. The long clicking path for website links will often affect users' desire to buy. And shopping carts solve this disadvantage.
As mentioned earlier, the shopping cart function is currently only partially open and is limited to Indonesian and UK accounts. In addition, shopping carts are also divided into two types: "shop shopping cart" and "expert shopping cart".
Whether it is a new user or an old user, you only need to bind your TikTok account to the registered store to open a shopping cart. The cross-border store binding account of British sellers is reviewed for a long time, which takes about a week.
Here we also need to remind you that there are also requirements for opening cross-border stores, generally there are the following steps:
1) Prepare a UK or Indonesian address that accepts returned products and register a Payoneer business account to collect payments
2) Submit an application on the official TikTok Shop website to register with your mobile phone number and email address.
3) After filling in the registration application, a new page will pop up and ask the merchant to submit the company's information, truthfully fill in the main business categories of the three types of stores and select a local shipping address.
4) In the end, you just need to click to submit and wait patiently for review. The store will be opened in half a working day.
After the store is opened, bind your TikTok account to it and you can directly activate the shopping cart function.
In contrast, the opening of the Expert Shopping Cart adopts an invitation system. When your account has the gene and ability to sell goods in e-commerce, the official will push the invitation notification to you and click to activate it. If the seller wants to open the shopping cart function in this way, he needs to focus on remaking vertical videos and focus on a certain direction, and he must not choose to make a general category account.
The two methods of small shop shopping cart and expert shopping cart have their own advantages and disadvantages. Small shop shopping carts can be put on the shelves independently and sold independently to maximize profits. In contrast, the expert shopping cart mainly relies on helping shops to promote products to obtain affiliate commissions. The commission ratio cannot be controlled, but its advantage lies in the more flexible product sales and can sell products from multiple sellers in the backend. (Yibang Power Network)
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