#Laogao E-commerce Newsletter#[E-commerce Evening News on October 18]

Evening news: Taobao Live starts the live broadcast room selection warm-up match for the Double 11 Treasure Good Store; Taobao Tmall upgrades the Double 11 price insurance service rules and the maximum price insurance time is extended to 27 days; 1688 platform plans to upgrade the current strict product selection standards on October 30; SoftBank Group will sell all its shares in the British e-commerce company THG; SHEIN announced the launch of the second-hand resale platform SHEIN Exchange...

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E-commerce newsletter

1. Taobao Live Starts Double 11 Treasure Good Store Live Room Selection Warm Up Competition

On October 18, Taobao Live recently launched an event with the theme of "Light up interest, focus on love! Double 11 Treasure Good Store Live Room Selection Warm Up Competition", aiming to use more diverse, richer and more vertical segmentation methods to help the store broadcast of special merchants continue to grow and attract consumers in the same circle. According to reports, the event mainly targets specialty store broadcast merchants, and launches the selection of 1,111 treasure good store live broadcast rooms, penetrates into 11 major life scenes, and focuses on the 100 subdivided circles. I hope that professional and interesting business anchors with different interests can bring consumers to see more diverse and richer and more interesting lifestyles through the live broadcast room window. (E-commerce News)

2. Taobao and Tmall upgrade Double 11 price insurance service rules to extend the maximum price insurance time to 27 days

According to October 18, at 8 pm on October 24, the Tmall Double 11 pre-sale event will officially begin. Taobao and Tmall have upgraded the price insurance service rules during this Double 11 event. From the previous price insurance within 15 days after payment, it has been changed to the full price insurance within 15 days after payment/payment to the full price insurance within 15 days after the event ends on November 11, that is, from the payment date to November 26, the maximum price insurance time is extended from 15 days to 27 days. When consumers purchase products with price guarantee logos, if the same product from the same merchant has a price reduction during the price guarantee period, they can initiate a price guarantee application and apply for a price refund. (E-commerce News)

3. The 1688 platform plans to upgrade the current strict product selection standards on October 30

According to October 18, today, the 1688 platform issued the "Announcement on the Upgrade of Strictly Selected Product Standards". The announcement shows that in order to better meet the procurement demands of platform buyers and users, the platform plans to upgrade the current standards for strictly selected products on October 30, 2022. The strict selection criteria after the upgrade are as follows: Necessary: ​​Successfully entered the factory cargo package 1. Consumer product category + adult product category; 2. New Golden Coins score>=60 points; 3. The 48H collection rate in the past 30 days>=90% (home decoration/lighting/home textiles part categories - curtains, curtains, accessories/carpet floor mats/home fabrics/decorative paintings, hanging paintings/hotel linens); 4. Merchant level L2+ (except for super work/actual business/actual trade); 5. Merchant support honest e-credit service; 6. The lowest price or downstream advantageous price in 30 days (watch review); 7. The freight is reasonable (watch review), and it is recommended to support official freight templates or official direct delivery; 8. Merchant product information is standardized, including but not limited to the main picture, title, details page, product selling points, etc. (watch review). After the upgraded products that meet the strict selection standards will continue to enjoy the corresponding rights and interests of the strict selection standards, and obtain traffic and buyers; products that do not meet the upgraded strict selection standards will be gradually removed from October 30 (only the discounted prices will not affect the rights and interests of the factory goods). After the bid is removed, the products cannot enjoy the platform rights and interests of the strictly selected products. (Webmaster's Home)

4. Kuaishou store adds new types of restricted sales, freezing and live freezing products

On October 18, Kuaishou released a revision announcement on the "Kuaishou Store Restricted Product List" and added new types of restricted sales. Starting from October 25, Kuaishou stores will restrict the sale of river crab products in raw and live frozen forms. (Webmaster's Home)

Internet news

5. Gome's sales exceeded 2.5 billion yuan in National Day Tesco Festival in 2022

According to reports on October 18, data released by Gome Retail showed that during the Tesco Festival in the United States from September 26 to October 10, Gome's overall sales exceeded 2.5 billion yuan, an increase of 12% year-on-year. The 49 new model stores that opened during the National Day holiday have ushered in a good start, with sales reaching about twice the previous time they were transformed. During the National Day promotion, kitchens and bathrooms, color TVs, refrigerators, washing machines, air conditioners, mobile phones, lifestyles, computers, etc. ranked top 10; single products were mainly sold during the National Day holiday, with purchases accounting for 15%. The reservation purchase activity sold nearly 200 million yuan from October 1 to 9, accounting for more than 20% of the overall sales. (E-commerce News)

6. SoftBank Group will sell all its shares in the UK e-commerce company THG

According to reports on October 18, SoftBank Group will report that it will sell all its shares in the British e-commerce company THG. THG said on Monday that SoftBank will earn £31 million after agreeing to sell 67.8 million shares to Qatar’s sovereign wealth fund. Matt Moulding, co-founder and CEO of THG, agreed to buy the remaining 12.8 million shares from SoftBank. Founded in 2004, THG focuses on selling beauty and nutrition products directly to consumers. It is reported that SoftBank has terminated an agreement to acquire one-fifth of its stake in THG's original technology division for $1.6 billion. (E-commerce News)

Cross-border newsletter

7. Dunhuang Online Online American Standard Special Line (General + Electric Power + Special)-WDT Logistics Channel

According to October 18, Dunhuang.com recently issued a notice on the launch of the US Standard Line-WDT. The announcement stated that in order to give sellers a better logistics experience, Dunhuang.com has launched a high-quality line - the American Standard Line - WDT channel. This channel refers to the transportation time limit (natural day) for 10-28 days, and the weight limit is 0-5kg. In terms of goods delivery attributes, only ordinary goods/internal electrical products are accepted; cargoes that threaten shipping safety and other items prohibited by local law are prohibited; any medicines, animals, plants, their bones or specimens are prohibited; FDA certified products and adult products are not accepted. (E-commerce News)

8. SHEIN announced the launch of the second-hand resale platform SHEIN Exchange

On October 18, SHEIN, an online retailer of fashion, beauty and lifestyle products, announced the launch of SHEIN Exchange, a comprehensive online peer-to-peer resale destination for buying and selling previously owned SHEIN products. By driving its millions of U.S. customers to buy or resell on SHEIN Exchange, SHEIN aims to influence and promote customers’ cautious consumption, ultimately extending the service life of the item as much as possible. This year, SHEIN also became the signatory for World Circular Textile Day, a alliance of brands, suppliers and other organizations whose shared mission is to turn the fashion and textile industry to a full cycle by 2050. (E-commerce News)

9. Amazon Belgium site officially launched

On October 18, Amazon’s official account of global store opening announced that the Amazon Belgian site was officially launched. Sellers around the world can now open sales on Amazon.com.be. As a result, Europe's territory expanded again. According to reports, with the support of the new Belgian site, Amazon already has 16 sites in its European site, including 9 major settlement sites (UK, Germany, France, Italy, Spain, Sweden, the Netherlands, Poland, Belgium) and 7 major exporting countries (Austria, Switzerland, Ireland, Denmark, Portugal, the Czech Republic, Greece) (E-commerce Newspaper)

10. Poshmark, a second-hand e-commerce company, will become an independent subsidiary of the latter.

On October 18, South Korea's largest Internet company Naver and new second-hand social e-commerce company Poshmark recently announced that the two parties have reached a final agreement. Under the agreement, Naver will acquire all issued and issued shares of Poshmark at a cash price of $17.9 per share, which equates to approximately $1.2 billion in corporate value. This premium is 15% premium to the Poshmark closing price as of October 3, 2022, 34% premium to the 30-day trading volume weighted average price, and 48% premium to the 90-day trading volume weighted average price. Upon completion of the deal, Poshmark will become an independent subsidiary of Naver in the United States and will continue to be led by CEO Manish Chandra and Poshmark's current management team. (E-commerce News)