#Laogao E-commerce Newsletter#[E-commerce Evening News Brief on August 23]

Evening information: Tmall App launches AR shopping function; 1688 will remove the "partial decoration components" of Wangpu mobile terminal; Douyin Xindong Big Brand Day and Qixintian launch the GMV of the East China Sea Boat Crab Festival event exceeds 10 million; Kuaishou e-commerce adjusts the distribution rules of beauty, mobile phones, watches and other categories; eBay acquires the card trading platform TCGplayer...

Lao Gao provides everyone with the latest and most valuable Internet and e-commerce information every day.

E-commerce newsletter

1. AR shopping function launched on Tmall App

On August 23, on August 23, Tmall App released a new version, upgrading its AR shopping function, and home appliances can also be placed at home in 3D projection according to real proportions. You can preview the real-life home entry effect before placing an order. At present, when consumers purchase products on the Tmall App, they select products with the "3D" label and click the "AR Experience" button in the lower left corner of the screen to experience AR shopping. Washing machines, refrigerators, tents and other categories can be the first to experience AR shopping. (E-commerce News)

2. 1688 will take down the "partial decoration components" of Wangpu mobile terminal

On August 23, 1688 issued a notice on the offline of "some decoration components" on Wangpu Mobile. The components offline this time include six decoration components: virtual exhibition hall, store gallery, title module, combination recommendation, coupons, and merchant services. The above components will be offline starting on September 15, 2022. After offline, it will not affect the current decoration and use stores, but the content cannot be updated in use. Components can be deleted during decoration and new users will not be able to add them. (E-commerce News)

3. TikTok Xindong Big Brand Day and Qixintian launch the GMV of the East China Sea Boat Crab Festival event exceeds tens of millions

August 23rd news, earlier this month, seafood hotpot brand Qixintian and Douyin Xindong Big Brand Day jointly created the East China Sea Boat Crab Festival. According to Douyin data, as of August 21, the GMV increase brought by the East China Sea Boat and Crab Festival has exceeded 10 million. It is understood that on the Douyin App, from August 6 to the end of August, users can purchase a value-added package that mainly promotes Donghai Boat Crab from more than 60 live broadcasts of Qixintian corporate account and many food experts accounts. At the same time, users can also search for topics such as #心光年口天天天天天天天天天天天天天天天天天天天天天天天天天天天天天天天天天� (E-commerce News)

4. Kuaishou's GMV of 191.2 billion yuan in the second quarter increased by 31.5% year-on-year

According to August 23, Kuaishou Technology today announced the company's second quarter financial results for the end of June 30. According to the financial report, the company's second-quarter revenue was 21.7 billion yuan, an increase of 13.4% year-on-year. In the second quarter, Kuaishou continued to build a vibrant e-commerce ecosystem, with the total e-commerce transaction volume increasing by 31.5% year-on-year to RMB 191.2 billion. In the second quarter, live broadcast revenue reached RMB 8.6 billion, a year-on-year increase of 19.1%, and the average monthly paid users of Kuaishou App Live increased by 21.8% year-on-year to 54.2 million. In the second quarter, the monthly active users of Kuaishou’s fast recruitment applications reached 250 million, an increase of 90% from the first quarter of 2022. (E-commerce News)

5. Kuaishou e-commerce adjusts distribution rules for beauty, mobile phones, clocks and other categories

On August 23, Kuaishou E-commerce issued an announcement today stating that Kuaishou Distribution Platform has now adjusted the category access rules for beauty, personal care instruments, mobile phones, watches, gold and silver jewelry, gems, aged wine/collection wine, and simultaneously revised the "Kuaishou Distribution Platform Management Specifications", which will take effect on August 31, 2022. It is understood that beauty/personal care and cleaning-beauty and cosmetics categories are open to flagship stores, franchise stores, and specialty stores. They are not open to individual stores, individual business owners, and ordinary enterprise stores for the time being. Store-type flagship stores adopt targeted invitations. (E-commerce News)

Internet news

6. Byte launches a new search engine "Wukong Search"

On August 23, Tech Planet learned that ByteDance launched a new "Wukong Search" app, which focuses on ad-free search. By comparing it with the headline search in today's Toutiao, we can find that there are no advertisements in the search results of Wukong's search, and the displayed results are more refreshing, which is similar to quarks. It is worth mentioning that according to previous reports, ByteDance's Toutiao recently launched an app called "Toutiao Extra". The application information page shows that Toutiao Extra can recommend high-quality content to users, and its group positioning is young people. (E-commerce News)

7. During Suning.com, the store appliance purchase sales increased by 217% year-on-year during the 818 period.

According to August 23, on August 22, Suning.com released the "818 Home Appliances and Home Decoration Consumption Big Data" that this year, Suning.com's national store customer flow increased by 185% month-on-month, and sales of store home appliance purchase products increased by 217%. The one-stop old-for-new order consultation volume increased by 198% year-on-year, driving the sales of green smart home appliances by 133%, and sales of refrigeration home appliances such as new first-level energy-efficient air conditioners and energy-saving refrigerators increased by 104% and 87% year-on-year. Data shows that from August 13 to 21, the double-line visits of Suning.com 818 Home Appliances and Home Decoration Expo exceeded one million, driving offline purchase order sales of purchase orders of more than 50,000 yuan increased by 106% year-on-year, and the cross-category purchase of home appliances and home decoration accounted for 21%. (E-commerce News)

Cross-border newsletter

8. eBay acquires TCGplayer card trading platform

August 23rd news, eBay recently announced that it will acquire TCGplayer, a trading platform for card collection games, for US$295 million. The transaction is in line with customary closing conditions, including necessary regulatory approvals, and the transaction is expected to be completed in the first quarter of 2023. eBay said the acquisition will help better serve card enthusiasts, and card transactions are currently seeing “significant growth”. It is reported that for a long time, many card collectors have bought and sold cards on the eBay platform, and eBay is consolidating its position in this field recently. In January this year, eBay expanded its verification service to support verification of high-value cards worth more than $750. (E-commerce News)

9. Etsy launches video comment function to buyers now supports IOS users

On August 23, foreign media reported that Etsy recently announced that video comment function will be opened to all iOS buyers. Currently iOS buyers can release up to 30 seconds of video or audio under product reviews. Currently, only iOS systems can use this new feature, and the Android system is still under development and is expected to be launched soon. Etsy said that some sellers provide photos of the product may not be as comprehensive. Through video reviews, potential buyers will see the real use of the item, increasing the possibility of buying, thereby promoting the seller's sales. (E-commerce News)

10. Shopify launches Shopify Capital financing services in Australia up to $2.5 million

August 23rd news, Shopify recently announced that Shopify Capital will be launched in Australia, providing thousands of merchants with fast and easy funds of up to $2.5 million to accelerate growth, expand new markets, and prepare for the peak sales season. Shopify research found that although 62% of Australian merchants are willing to seek funding investment, 67% are discouraged by high interest rates, and more than 53% give up on their lengthy application process and time. It is understood that Shopify Capital is not a traditional financing method, there is no lengthy application process, no personal credit check, no corporate equity, and no merchants are required to make cash flow predictions. (E-commerce News)