#Laogao E-commerce Newsletter# [November 5 E-commerce Morning News]

Morning News: China Consumers Association: Consumers should not be superstitious about the so-called "price advantage" of Double 11; Youxin Group's second super hypermarket has landed in Hefei; Beijing's rail transit digital RMB is about 3,100 people per day; Blue Origin sued NASA, which was rejected, Bezos said he accepted the ruling and hoped SpaceX would succeed.

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E-commerce newsletter

1. China Consumers Association: Consumers should not be superstitious about the so-called "price advantage" of Double 11

According to November 5, on November 4, the China Consumers Association issued a consumer reminder that with the continuous improvement of the legal system and the increasing supervision efforts, the online consumption environment has gradually been optimized, but online shopping infringement still occurs from time to time. The China Consumers Association stated that Double 11 is a "promotion festival" created by merchants for many years. The online and offline market is shrouded in the publicity fog of "giant sales", "lowest throughout the year", "limited-time rush to buy", and "shot-shot sales", creating a psychological expectation for consumers that "buy is profitable". (E-commerce News)

2. Youxin Group's second super hypermarket is launched in Hefei

According to Future Auto Daily, the second super hypermarket of Youxin Group has been launched in Hefei. According to official information from Youxin Used Cars, the store covers an area of ​​nearly 100,000 square meters, which is four times the area of ​​Youxin's first offline hypermarket. In response to the above news, Youxin said that it will not respond to the opening of hypermarkets and subsequent store opening plans for the time being. Official information shows that there are 1,300 cars available in Youxin Hefei second-hand car hypermarket, 100% of which are self-operated vehicles. All vehicles are at a fixed price. Consumers can place orders with one click and support nationwide delivery, and support free refunds for 7 days without reason. (E-commerce News)

3. The average daily usage of digital RMB in Beijing's rail transit is about 3,100 people

Recently, Qiao Lei, director of the Passenger Information Department of Beijing Rail Transit Command Center, said that in terms of ticketing, Beijing Metro has achieved Internet ticketing interconnection with other modes of transportation and other cities. He also introduced that at the end of June, Beijing's entire road network realized the digital RMB payment gate swiping, and in August, it added services such as digital RMB ticket purchase, card purchase, ticket replenishment and recharge. At present, the average daily usage of digital RMB in Beijing's rail transit is about 3,100 people. (E-commerce News)

4. Sichuan's first digital RMB payment social security business is online

According to November 4th, today, Sichuan Province's first digital RMB payment social security business was officially launched at the tax window of Chengdu Tianfu New District, and Bank of China actively assisted in the implementation of the scenario. Previously, as one of the first batch of digital RMB pilot cities in the country, Chengdu has promoted the construction of application scenarios in various fields such as living payment, catering services, transportation, shopping and consumption, and government services. (E-commerce News)

Cross-border newsletter

5. Uber's third-quarter revenue increased by 123% year-on-year

According to reports on November 5, Uber, an online ride-hailing giant, released its latest quarterly financial report today. Uber's adjusted EBITDA was $8 million in the third quarter, compared with -$625 million in the same period last year. Uber's monthly active platform consumers in the third quarter were 109 million, up 40% from 78 million in the same period last year. Uber's total number of trips in the third quarter was 1.641 billion, an increase of 39% from 1.184 billion in the same period last year. Uber's third-quarter bookings were US$23.113 billion, up 57% from US$14.745 billion in the same period last year, and the impact of excluding exchange rate changes was a 53% year-on-year increase. (E-commerce News)

6. Airbnb's Q3 revenue of US$2.2 billion net profit increased by 280% year-on-year

According to reports on November 5, Airbnb reportedly released the company's third-quarter financial report for fiscal year 2021 today. According to the report, Airbnb's revenue in the third quarter was US$2.237 billion, a 67% increase from US$1.342 billion in the same period last year, and the impact of excluding exchange rate changes was a 64% year-on-year increase; net profit was US$834 million, a record high in the company's history, compared with net profit of US$219 million in the same period last year, a significant increase of 280% year-on-year; diluted earnings per share attributable to shareholders of Class A and Class B common stocks was US$1.22. (E-commerce News)

7. Square's third-quarter revenue of US$3.845 billion net profit fell by 99.8% year-on-year

According to reports on November 5, mobile payment company Square announced its third-quarter financial report for the 2021 fiscal year today. According to the report, Square's total net revenue in the third quarter was US$3.845 billion, an increase of 27% compared with US$3.034 billion in the same period last year; net profit attributable to common shareholders was US$84,000, compared with US$36.5 million in the same period last year, a year-on-year decrease of 99.8%. Square's adjusted EBITDA was $233 million in the third quarter, compared with $181 million in the same period last year. Square's operating profit in the third quarter was $23 million, compared with $49.3 million in the same period last year. (E-commerce News)

8. Blue Origin sued NASA for NASA rejected Bezos said he accepted the ruling and hoped SpaceX would succeed

According to reports, Blue Origin sued NASA was rejected by the US federal court. SpaceX CEO Elon Musk forwarded the message as soon as possible and quipped with pictures. NASA handed over the contract to SpaceX, and Blue Origin believed it was unfair and sued NASA. To return to the moon, NASA is preparing to develop a manned landing system, with multiple companies competing for contracts, and SpaceX finally became the winner. Blue Origin was dissatisfied with it and appealed to the US Government Accountability Agency in July, but was recently rejected by the bureau. Blue Origin founder Bezos said of the lawsuit that he hopes SpaceX will succeed and the company will accept the ruling. (E-commerce News)

Internet Information

9. Youxin Group’s second super hypermarket is launched in Hefei

According to Future Auto Daily, the second super hypermarket of Youxin Group has been launched in Hefei. According to official information from Youxin Used Cars, the store covers an area of ​​nearly 100,000 square meters, which is four times the area of ​​Youxin's first offline hypermarket. In response to the above news, Youxin said that it will not respond to the opening of hypermarkets and subsequent store opening plans for the time being. Official information shows that there are 1,300 cars available in Youxin Hefei second-hand car hypermarket, 100% of which are self-operated vehicles. All vehicles are at a fixed price. Consumers can place orders with one click and support nationwide delivery, and support free refunds for 7 days without reason. (E-commerce News)

10. Sichuan's first digital RMB payment social security business is online

According to November 4th, today, Sichuan Province's first digital RMB payment social security business was officially launched at the tax window of Chengdu Tianfu New District, and Bank of China actively assisted in the implementation of the scenario. Previously, as one of the first batch of digital RMB pilot cities in the country, Chengdu has promoted the construction of application scenarios in various fields such as living payment, catering services, transportation, shopping and consumption, and government services. (E-commerce News)