Morning News: ByteDance's revenue in 2021 was US$58 billion, up 70% year-on-year; Douyin e-commerce increased its crackdown on piracy and banned tens of thousands of infringing stores in 2021; Taobao released 9 "memory" search terms; Amazon will launch its first physical fashion store "Amazon Style"...
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1. In 2021, Chengdu achieved a cumulative e-commerce transaction volume of 2452.675 billion yuan, an increase of 8.35% year-on-year
According to the news on January 21, recently, the reporter learned from the Chengdu Municipal Bureau of Commerce that according to statistics from the Sichuan E-commerce Big Data Center, from January to December 2021, Chengdu achieved a cumulative e-commerce transaction volume of 2452.675 billion yuan, an increase of 8.35% year-on-year; online retail sales were 493.479 billion yuan, an increase of 19.50% year-on-year, ranking 6th among major cities in the country. Among online retail sales, Chengdu achieved physical online retail sales of 304.758 billion yuan, a year-on-year increase of 16.37%, accounting for 73.53% in Sichuan, providing a major contribution to the development of online retail sales. (E-commerce News)
2. Analyst: Tencent may reduce its holdings in Krafton after selling its shares in JD.com
On January 21, analyst Sanghyun Park, who published an article on Smartkarma, pointed out that the tech giant may sell part of its shares in Krafton after Tencent cuts its stake in JD.com. Shares of PUBG developer Krafton have fallen 35% since its first listing in August. Tencent holds a 13.56% stake in the company through Image Frame Investment HK Ltd. (E-commerce News)
3. Taobao releases 9 "memory" search terms
According to January 20, today, the 9 "memory" search terms on Taobao were released. The 9 Taobao "memory" search terms are: thermos, four-wheel drive cars, Korean versions, piled socks, corsets, wallets, passport protective covers, elderly mobile phones and X. It is reported that the top 8 search terms represent products that have caused heated discussion and best-selling in the past. Based on the various indexes and market performance in recent years, the demand for them by consumer groups is becoming more stable. Taobao waiter introduced that 8 typical "memory" search terms are group memories of mainstream consumer groups at different stages. (E-commerce News)
4. Douyin e-commerce has stepped up crackdown on piracy. Banned tens of thousands of infringing stores in 2021
On January 20, recently, Douyin E-commerce and the Beijing Version 15 Anti-Piracy Alliance signed a memorandum of cooperation on the protection of genuine books in Beijing. The two sides officially announced that they will carry out in-depth cooperation in brand cooperation, green channels for rights protection, active prevention and control, offline special project crackdowns, etc., jointly improve and maintain the cooperation mechanism for intellectual property protection, crack down on piracy, and increase copyright protection efforts. Li Cheng, vice president of Douyin e-commerce, said that in 2021, Douyin e-commerce banned tens of thousands of stores selling infringing goods and promptly banned infringing goods. Through the Douyin e-commerce intellectual property protection platform, more than 34,000 infringement links were handled for the rights holder’s complaints and reports. (E-commerce News)
Cross-border newsletter
5. Amazon will launch its first physical fashion store, “Amazon Style”
On January 20th, Amazon announced today that it will open its first physical clothing store in history, "Amazon Style". According to reports, after logging into the Amazon shopping app on your smartphone, customers only need to scan the QR code of the product to view the size, color, overall customer rating and other product details of the product. Shoppers can click a button in the Amazon app to add the product to the fitting room, or send it to the pickup counter. In the fitting room, Amazon has installed a touch display, where shoppers can use the touch screen to rate items, or require items of different styles or sizes to be delivered to the fitting room. (E-commerce News)
6. Lazada's brand mall LazMall opens the fast application channel
On January 20, Southeast Asia flagship e-commerce company Lazada said that its brand mall LazMall has opened a fast application channel. After meeting the application requirements for a single site LazMall store, the "application portal" of the corresponding site will be automatically opened. It is understood that in September 2020, Lazada officially announced a new upgrade of LazMall to create the preferred e-commerce platform for global brands to win the Southeast Asian market. LazMall now has 32,000+ local and international brands. (E-commerce News)
7. Yunnan Province's cross-border e-commerce transaction volume soared by 317% in 2021
In 2022, Yunnan will implement the action plan for high-quality connection between the Regional Comprehensive Economic Partnership Agreement and the three-year action plan for the development and construction of the China-Laos Railway, participate in the construction of the logistics system of neighboring countries, and promote the large-scale operation of China-Laos international freight trains and the normal operation of sea-road-rail intermodal transport in the new channel of the China-Myanmar Indian Ocean. Data shows that in 2021, Yunnan added two new foreign trade transformation and upgrading bases, the "single window" of international trade achieved full coverage of ports, cross-border e-commerce transaction volume increased by 317.4%, and total import and export volume increased by 16.8%. (E-commerce News)
Internet Information
8. Ministry of Commerce: E-commerce platform enterprises should formulate rules for reducing the use of disposable plastic products
On January 20, the Ministry of Commerce publicly solicited opinions on the "Regulations on the Management of Use and Reporting of Disposable Plastic Products in the Business Field". The Measures point out that e-commerce operators are encouraged to cooperate with commodity manufacturers, design and apply product packaging that meets express logistics and distribution needs, and promote original direct delivery of e-commerce express parcels. E-commerce platform enterprises should formulate platform rules for reducing the use of disposable plastic products. E-commerce platform enterprises are encouraged to cooperate with express delivery companies, sanitation units, recycling companies, etc., and to place disposable plastic product recycling facilities in key areas such as office buildings, schools, and large communities. (E-commerce News)
9. ByteDance's revenue in 2021 increased by 70% year-on-year
On January 20, according to the Science and Technology Innovation Board Daily, citing sources, Toutiao, TikTok's parent company ByteDance's annual revenue in 2021 was approximately US$58 billion, a year-on-year increase of 70%. However, compared with 2020, ByteDance's revenue growth rate slowed down in 2021. ByteDance disclosed the above figures to a small number of employees at an internal meeting this week, people familiar with the matter said. In contrast, ByteDance's revenue in 2020 was US$34.3 billion, an increase of more than 100% year-on-year. ByteDance has not yet responded to a request for comment. According to a recent report by LatePost, TikTok's advertising revenue in 2021 reached nearly US$4 billion. (E-commerce News)
10. TikTok plans to launch a paid subscription model
According to the Wall Street Journal, TikTok said it is testing a paid subscription model that allows creators to charge people who watch their content. The strategy appears to be similar to Instagram, which said earlier this week that it is trying its own subscription service. Parent company Meta says the feature could provide content creators with another way to make money from fans. Twitter launched a similar super fan concept last year. Currently, TikTok does not provide further details about subscription plans, pricing or testing. A company spokesman said Thursday that the company has been thinking about new ways to bring value to its community and enrich the TikTok experience. (E-commerce News)
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