#Laogao E-commerce Newsletter# [E-commerce Morning News on August 24]

Morning News: JD.com Group's revenue in the second quarter was 267.6 billion yuan, with 580 million annual active users; Douyin E-commerce revised the "Anxin Purchase Service Specifications": Added the Anxin Purchase Assessment Standards; Baozun E-commerce's revenue in the second quarter was 2.122 billion yuan, with a total transaction volume of 23.086 billion yuan; Kuaishou's overseas market DAU's average daily usage time exceeded 60 minutes; Amazon's internal testing function Inspire: You can view product photos and place orders directly...

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E-commerce newsletter

1. Popular Chinese stocks closed on Tuesday and saw a rise and fall. Pinduoduo rose by nearly 6%.

On August 24, popular Chinese stocks closed up and down on Tuesday, among which Seco rose 23.33% to US$0.37 with a total market value of US$26.14 million; Pinduoduo rose 5.38% to US$50.51 with a total market value of US$63.86 billion; JD.com rose 3.40% to US$57.20 with a total market value of US$89.33 billion; Dingdong Maicai rose 2.00% to US$4.58 with a total market value of US$1.082 billion. Daily Youxian fell 7.69%, with a total market value of US$28.25 million; Dada Group fell 3.52%, at US$6.30, with a total market value of US$1.64 billion; Vipshop fell 2.32%, and ZTO fell more than 1%. (E-commerce News)

2. JD Group's revenue in the second quarter was 267.6 billion yuan, with annual active users of 580 million.

On August 23, JD.com announced its unaudited results for the three months and six months ended June 30, 2022. Among them, service revenue was RMB 41.6 billion, an increase of 21.9% from the second quarter of 2021. In the first half of 2022, JD.com Group's net income was RMB 507.3 billion, an increase of 11.0% year-on-year. The number of annual active users increased by 9.2% from 531.9 million in the twelve months ended June 30, 2021 to 580.8 million in the twelve months ended June 30, 2022. In the second quarter of 2022, JD Group's operating profit was RMB 3.8 billion, and under non-GAAP operating profit was RMB 5.8 billion, and JD Retail's operating profit margin excluding undistributed projects was 3.4%. (E-commerce News)

3. Douyin e-commerce revised the "Safe Shopping Service Specifications": Added the Assessment Standards for Safe Shopping

According to August 23, today, Douyin e-commerce issued a notice stating that in order to protect consumer rights and regulate merchants' business behavior, the ""Safe Purchase" Service Specifications" has been revised, and the rules are expected to take effect on August 25, 2022. The core changes in this adjustment include: adding the assessment standards for safe shopping: store operating indicators and assessment standards for must-have equity; optimizing some backend opening pages and the legend of equity opening pages. (Yibang Power)

4. Xiaohongshu pet content average daily searches increased by 338% year-on-year in July

According to news on August 23, Xiaohongshu data showed that Xiaohongshu pet content increased by 197% year-on-year in 2022, and the average daily search in July increased by 338% year-on-year. The number of pet-related notes on Xiaohongshu's website increased by 44% month-on-month in half a year, and the number of interactions increased by 76% month-on-month in half a year. Currently, the pet interest group in Xiaohongshu's website is mostly young people in first-tier cities, with the highest proportion between the ages of 19-22, close to 25%, mostly people who have just left the society and have their first pet raising. (E-commerce News)

5. JD New Department Store: The transaction volume of camping tents increased by 150% year-on-year since July

According to August 23, the popularity of camping has continued to rise recently. The transaction volume of tents/mats increased by 150% year-on-year, the transaction volume of sleeping bags/hammocks increased by nearly 2 times year-on-year, the transaction volume of outdoor camp cars increased by 4.5 times year-on-year, and the transaction volume of picnic supplies increased by 178% year-on-year. According to sales data of JD New Department Store camping equipment, people aged 16-25 have a special liking for tents/mats, sleeping bags/hammocks and picnic supplies; people aged 26-35 prefer the use and purchase of camp cars; female consumer groups have also contributed great strength to the sales of camping equipment. (E-commerce News)

Internet news

6. Baozun E-commerce's revenue in the second quarter was 2.122 billion yuan in total commodity transactions of 23.086 billion yuan.

On August 23, Baozun E-commerce announced its unaudited second-quarter financial results as of June 30, 2022. During the reporting period, the company's non-GAAP business revenue was RMB 47.3 million. The non-distribution GMV was 22.3079 billion yuan, a year-on-year increase of 52.4%, of which the consignment GMV was 5.11214 billion yuan, a year-on-year decrease of 0.2%; the service fee GMV was 17.1865 billion yuan, a year-on-year increase of 80.9%. GMV generated by non-Tmall markets and channels accounted for approximately 24.4% of the total GMV for the quarter, compared with 31.7% in the same period in 2021. (E-commerce News)

7. Jia Nailiang ranked first in Douyin live streaming sales list last week with 156 million GMV

Data shows that in the list of experts who sell goods last week, five anchors live streaming GMVs exceed 100 million, namely Jia Nailiang, Oriental Selection, Big Wolf Dog Zheng Jianpeng & Yan Zhen, Brother Yi and Crazy Little Brother Yang. Their corresponding GMVs are 156 million, 150 million, 150 million, 132 million and 110 million respectively. Among them, the number one expert is Jia Nailiang, whose GMV is 156 million. (E-commerce News)

Cross-border information

8. Amazon internal testing function Inspire: You can view product photos and place orders directly

According to reports on August 24, it is reported that Amazon is preparing to implant short video content similar to TikTok in the App, and shoppers can scroll to view product photos and videos like TikTok. The new feature is called Inspire, which appears in the form of widgets on the Amazon app homepage. Users can like product posts, save or share, and place orders directly. But an Amazon spokesperson declined to respond, saying the company would continue to test new features. TechWeb)

9. The average daily usage time of DAU in Kuaishou overseas market exceeded 60 minutes

According to August 23, Kuaishou Technology released its second quarter results for 2022. According to the financial report, the company's second-quarter revenue was 21.7 billion yuan, an increase of 13.4% year-on-year. Kuaishou's revenue in the first half of 2022 was 42.76 billion yuan, and EBITDA lost 1.14 billion yuan after the adjustment in the first half of the year. It is worth noting that Kuaishou has displayed domestic and overseas business conditions separately in its performance report for the first time. Kuaishou's domestic business achieved its single-quarter profit target two quarters ahead of schedule, and its operating profit exceeded 93 million yuan in Q2. Data shows that as of the end of June, Kuaishou's average daily usage time for a single user in overseas markets reached a new high, with an average usage time of more than 60 minutes, and the retention rate of overseas users and user participation further improved. (E-commerce News)

10. Amazon suspends expansion of fresh grocery store business in the UK

August 23 news, a few days ago, foreign media reported that Amazon has stopped expanding its self-checkout fresh grocery store plan in the UK. Currently, sales of 19 Amazon stores have failed to meet expectations, and the company has abandoned negotiations to rent venues at dozens of Amazon Fresh stores. In addition to abandoning rental venues, Amazon has reportedly stopped plans to add hundreds of Amazon Go stores in the UK. At the same time, Amazon said it will consider resuming its expansion plans in the next 12-18 months. It is reported that in March this year, Amazon restructured its retailer's physical store division to help Amazon achieve stronger growth from physical stores. (E-commerce News)