Morning news: Vipshop plans to buy back no more than US$1 billion in stocks; Douyin set up a self-operated wine e-commerce team; State Administration for Market Regulation: Platform stores such as JD Taobao provide false quality inspection reports; Jitu International launches Zhuhai E-mail (Public/Special Products) dedicated line; eBay will provide protection to sellers in the southern United States who are affected by bad weather......
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E-commerce newsletter
1. Vipshop plans to buy back no more than US$1 billion in stocks
It is understood that this repurchase will be conducted from time to time in the open market at current market prices, private negotiated transactions, bulk transactions or other methods permitted by law, depending on market conditions and applicable rules and regulations. The time and amount of the repurchase transaction will be subject to SEC rules. The company's board of directors will regularly review the share repurchase plan and may authorize adjustments to its terms and size. (E-commerce News)
2. ByteDance launches the horizontal screen version of Xigua Video
According to Tech Planet, recently, Byte released an app called "Xigua Video Horizontal Version". The app was first launched in February this year. According to Qimai data, as of now, the total download volume of the "Xigua Video Horizontal Version" app has reached about 6.49 million times, and the average daily download volume in the past 30 days is about 100,000 times. In addition, the "Xigua Video Horizontal Screen Version" also connects to film and television content, which users can watch directly. (E-commerce News)
3. Douyin set up a self-operated wine e-commerce team
According to Tech Planet, recently, ByteDance's Douyin is forming a self-operated wine e-commerce team, which will rely on the Douyin platform to realize live broadcast/short video sales. At present, the team is recruiting e-commerce wine procurement and sales related personnel, and the wine products sold are mainly liquor non-Moutai series of products. Tech Planet asked Bytes for this, and the relevant person in charge of Douyin e-commerce responded that in order to further expand the richness of users' products when purchasing alcohol, the platform will make some business attempts in self-operation of alcohol. (E-commerce News)
4. The transaction volume of smart toilets in JD Spring Home Decoration Festival increased by 6 times year-on-year
As of March 29, the transaction volume of smart toilets increased by 6 times year-on-year, the transaction volume of smart bathroom heaters and electronic locks increased by 5 times year-on-year, the transaction volume of smart bathroom mirrors increased by more than 3 times year-on-year, and the transaction volume of smart clothes drying racks increased by 2 times year-on-year. At the same time, the transaction volume of color switches increased by more than 5 times year-on-year, the transaction volume of decoration ornaments increased by more than 3 times year-on-year, and the transaction volume of Gaoyan Designer furniture increased by 100% year-on-year. In addition, the transaction volume of high-value enamel pots increased by 10 times year-on-year, and the transaction volume of skin beauty showers increased by 7 times year-on-year. E-sports tables and chairs have become a representative of high popularity, among which the transaction volume of e-sports tables has increased by 6 times year-on-year, and the transaction volume of e-sports chairs has increased by 5 times year-on-year. (E-commerce News)
Internet news
5. Weibo announced a $500 million stock buyback plan
On March 31, Weibo Company announced today that the company's board of directors has approved a stock repurchase plan, authorizing the company to repurchase company depositary shares with a total amount of no more than US$500 million in the 12 months ended March 31, 2023. It is reported that this stock repurchase plan will be carried out based on market conditions. The company may repurchase from time to time in the open market at current market prices, privately negotiated transactions, bulk transactions and/or other means permitted by law, and implement them in accordance with the applicable terms and regulations of the law. The company expects the funds required to repurchase will come from existing cash. (E-commerce News)
6. State Administration for Market Regulation: False quality inspection reports are provided by stores such as JD Taobao.com.
March 31, today, the State Administration for Market Regulation released a number of typical cases of inspection and testing market supervision and law enforcement, including cases of false quality inspection reports provided by store counterfeit inspection and testing institutions on e-commerce platforms such as JD.com and Taobao. After verified by the local market supervision department, the inspection reports used by the four e-commerce companies are counterfeit reports. At present, all 64 products displayed in the store using counterfeit reports for advertising have been removed from the shelves. (E-commerce News)
Cross-border information
7. Jitu International launches Zhuhai E-mail (Public/Special Products) dedicated line
March 31 news, today, Jitu International announced the launch of the Zhuhai E-mail Special Line to receive general goods, epidemic prevention materials, special products such as live, liquid, paste, powder, etc. According to reports, the product is available for postage in 18 countries including Europe, the United States, Canada, Australia and Brazil. Among them, Brazil and New Zealand are billed from 50 grams, and less than 50 grams are billed at 50 grams. Other countries have no weight in renewal, and are billed according to the actual weight of the package. (E-commerce News)
8. eBay will provide protection to sellers in the southern United States who are suffering from severe weather
To this end, eBay will provide support and protection to sellers to reduce the potential impact of this incident on sellers' business. If the seller is located in the affected area and cannot ship the item, eBay recommends that the seller communicate with the buyer and inform them of the actual situation; if the seller expects that the shipping may be delayed, it is recommended to extend the processing time indicated in the publication of the item; if the seller's business is affected, eBay will automatically protect the seller's account performance, including delayed delivery rate, effective tracking of information upload rate, etc. In addition, eBay will also remove any related negative and moderate reviews. Shipping disputes caused by this weather will not affect the seller's service indicator rating. (E-commerce News)
9. Shopee Vietnam: 1 out of every 6 orders in 2021 comes from new users
According to DNY123, data released by Shopee Vietnam shows that in 2021, 1 out of every 6 orders is new users from Shopee. The number of Shopee buyers near major cities in Vietnam increased by 40% year-on-year, the number of Shopee sellers increased by 70% year-on-year, and the number of ShopeePay e-wallet users increased by 2.5 times. Shopee Vietnam Managing Director Tran Tuan Anh said that in 2021, Shopee launched a lot of localization activities, while the delivery network expanded to rural areas, attracting more users for Shopee through a series of incentives.
In 2021, Shopee launched new tools and features to help local Vietnamese sellers increase exposure. Over 1,000 local sellers earned over US$100,000 during the three shopping festivals of 9.9, 11.11 and 12.12. On November 11 alone, sales of new sellers on Shopee increased by 18 times compared to the average working day. It is understood that after the ShopeePay Near Me function was launched, the number of transactions with partner stores reached 5 million. This feature can display transactions nearby to users based on location, and users can purchase related coupons on the app, which can be redeemed when paying in a physical store.
In addition, in 2021, there were 42 million new users on the Shopee Mall (Shopee Brand Mall) platform, and the total transaction volume of the five partners reached US$100 million. Vietnamese users can purchase a variety of fast-moving consumer goods and family essentials on the Shopee Mart platform. It is worth mentioning that recently, Shopee officially issued an announcement stating that from March 28, 2022, the payment cycle of Shopee Vietnam site will be changed from a payment twice a month to a payment once a week. That is, the week when the order is completed is the billing cycle, and the 7 working days after the billing cycle are the payment cycle. The Shopee platform will pay the seller within the payment cycle. The first implementation time period for the new rule: the billing cycle is from March 28 to April 3, and the payment cycle is from April 4 to April 12. (E-commerce News)
10. GoTo will be listed on April 11 to raise US$1.1 billion
On March 31, GoTo plans to raise US$1.1 billion through its initial public offering. GoTo sets its IPO offering price at Rs 338 per share, with an estimated market value of approximately US$28 billion, which will make it the fourth highest listed company in India with market value. It is understood that this IPO will be held from April 1 to 7, with the stock code GOTO and the listing date is April 11. It is reported that GoTo's IPO has received orders from most investors and has raised at least $1.1 billion in its target price range. Previously, the company set an indicative price range of Rs 316 to Rs 346 per share. (E-commerce News)
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