Morning News: Yu Minhong said that multi-platform live broadcast is a strategic layout: it took a lot of time to study; Suning.com on Meituan’s platform orders exceeded 45,000; Amazon’s market value fell below $1 trillion; the first national e-commerce complaint insurance was launched in Guangzhou; 24 hours after the opening of Double 11, Hangzhou Customs cumulatively inspected and released cross-border imported goods worth 640 million yuan...
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E-commerce newsletter
1. TikTok Double 11 starts well: TikTok Mall transaction volume increased by 629.9% year-on-year
On November 2, the Douyin Double 11 Good Food Festival officially started at 0:00 on October 31. This Douyin Double 11 Good Things Festival focuses on the Douyin Mall position, and the atmosphere of the big promotions on the site is booming. The sales were only 1 hour, and the average customer payment price increased by 217.1% compared with the same period last year; the exposure of Douyin Mall increased by 36.8% compared with the 921 promotion in the same period; the search volume of product increased by 91.2% compared with the 921 promotion in the same period. From shelf scenes, content scenes to payment side financial gameplay, Douyin e-commerce has been fully launched. As of 24:00 on October 31, the transaction volume of Douyin Mall increased by 629.9% compared with the same period last year; #Douyin Double 11 Good Things Festival topic views reached 14.3 billion. (Douyin e-commerce marketing observation)
2. JD.com's 11.11 starts well in 24 hours and more than 10 million households across the country have received their first product orders.
According to November 1, as of 8 pm on November 1, JD.com achieved a good start on November 1.11. More than 10 million families across the country have received the first order for JD.com's 11.11 start on November 1, and paper pumping, dairy products, snack foods, etc. have become the most popular products for consumers. According to statistics, through the application and upgrading of intelligent logistics infrastructure, the large-scale processing volume of JD Logistics Asia No. 1 Intelligent Industrial Park, which is spread all over the country, has increased by more than 40% compared with the same period last year. Just after 8 pm on October 31, consumers in many places across the country had already received the first order delivered by JD Express. (JD Logistics)
3. Suning.com’s order volume on Meituan platform exceeded 45,000 orders
On November 1, this year's Double Eleven, Suning.com and Meituan reached a strategic cooperation, and more than 600 stores across the country entered Meituan. As of November 1, Suning.com's orders on the Meituan platform exceeded 45,000 orders, and vivo Y76S, iPad 9th generation, Huawei P50 Pro, Honor 70, and Lenovo R9000P have become the most popular "digital takeaway" among consumers. (Suning.com Blue Microphone)
4. Yu Minhong said that multi-platform live broadcast is a strategic layout: it took a lot of time to study it
On November 1, Yu Minhong responded to the reasons for multi-platform live broadcasts in the Taobao live broadcast room for the first time yesterday. He said that Oriental Selection currently focuses on online and spent a lot of time studying how New Oriental can develop online. Finally, it has a strategic layout such as multi-platform live broadcasts and selling agricultural products and daily necessities. At the same time, Yu Minhong said that if it weren't for the past few years, New Oriental would have been completely impossible for Oriental to select this business. (Five Rings Short Video)
Internet news
5. Most popular Chinese stocks closed up on Tuesday
According to news on November 2, most popular Chinese stocks closed up on Tuesday. At the same time, Huarui Clothing fell by more than 15%, Youxin fell by more than 12%, Fanhua Finance fell by more than 11%, Fangduoduo and Monster Charging fell by more than 9%, Yuehang Sunshine fell by more than 8%, Ranshi Medicine and Secoo fell by more than 7%, Ninth City fell by more than 6%, Jiufu, Yangang Mingzhu, Shuhai Shares, and Lufax Holdings fell by more than 5%, All Things New Life, Shangmax Technology, Lixiang Education, Best Group, Tuya Intelligence, Xiaobai Mai Mai, Liantuo Biological, Dajian Cloud Warehouse, etc. fell by more than 4%, China Natural Resources, Shanggao, Aorigin Seed Industry, Kaixin Automobile, Zhonghua Telecom, Tuanche, Yuhui Sunshine, Xiaopeng Motors, etc. fell by more than 3%. (Global Market Report)
6. Suning.com Logistics releases a new smart logistics solution on Double Eleven
On November 1st, on the first day of the Double Eleven promotion, Suning.com Logistics released a new smart logistics solution. Up to now, Suning.com Logistics has reached strategic cooperation with many industry benchmark companies such as Xiaomi, Panasonic, IKEA, Carrefour, Gujia Home Furnishing, and Cainiao. In the future, Suning.com Logistics will continue to be driven by intelligent and digital technological innovation, support the application of big data, and continue to promote the upgrading of smart logistics solutions to help cooperative enterprises improve their supply chain operation capabilities. (Suning Logistics+)
Cross-border information
7. Amazon's market value falls below $1 trillion
According to reports on November 2, Amazon has reportedly withdrawn from the trillion-dollar club. Amazon's stock price fell 5.9% on Tuesday local time, closing at its lowest level since April 2020. Amazon said revenue for the holiday season will rise 2% to 8% from a year ago, but well below analyst expectations. The cloud computing division Amazon Web Services sales also fell below expectations. It is reported that this is the first time that Amazon's market value has fallen below $1 trillion since April 2020. Amazon is the second-worst-performing company among large tech groups this year, behind Facebook's parent company Meta, which plummeted 72%. (Sina Technology)
8. The first e-commerce appeal insurance in the country is implemented in Guangzhou
On November 1, under the guidance of the Guangzhou Municipal Bureau of Commerce, the e-commerce appeal insurance developed by Ping An Property Insurance Guangdong Branch was officially released and was launched in Guangzhou for the first time in the country. According to a relevant person in charge of Ping An Property Insurance Guangdong Branch, e-commerce appeal insurance is an exclusive guarantee for cross-border e-commerce sellers. When cross-border e-commerce sellers are banned by the platform or removed from the product, cross-border e-commerce sellers can entrust legal counsel to assist in appeal and defense, and the resulting appeal and defense costs will also be borne by the insurance company. (Guangzhou Business)
9. Walmart: New Walmart+ members can enjoy half the annual fee within 2 days
According to news on November 2, Walmart said that from November 1 to 3 local time in the United States, newly registered Walmart+ members will only charge an annual fee of US$49, which is equivalent to half of the usual annual fee of US$98. Members will enjoy the "Black Friday Promotion" in advance starting from November 7. It is reported that this year the platform allows members to start shopping online several hours ahead of others. (Cailianshe)
10. 24 hours after Double 11, Hangzhou Customs has inspected and released a total of 640 million yuan in cross-border imported goods.
According to the news on November 1, at the first peak of this year's "Double 11", Hangzhou Customs has inspected and released a total of 640 million yuan in cross-border imported goods. In Xiasha Park, Hangzhou Cross-border E-commerce Comprehensive Experimental Zone, among the main stock items this year, in addition to mainstream products such as maternal and infant, beauty, household appliances such as coffee machines, rice cookers, electric toothbrushes, and electric shavers are also continuing to be favored by consumers, and the company's stock volume has also increased by 59.5% compared with last year. In addition, the pet economy continues to be hot, and some e-commerce companies have reported that the stock volume of pet supplies this year has more than doubled compared with last year. (Qianjiang Evening News)
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