#Laogao E-commerce Newsletter#【E-commerce Evening News Brief on November 14】

Evening information: Fengquhaibao, a subsidiary of SF Express, was filed for bankruptcy review; 1688 adjusts the rules for fast return spot orders; Taobao revises the "Flying Pig Travel Market Management Specifications" and takes effect on December 15; Tmall Car Maintenance announced its 2023 franchise policy; Amazon brand aggregator Upexi acquires E-Core and its subsidiaries...

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E-commerce newsletter

1. 1688 adjusts the order rules for fast return of spot goods

According to November 14, the 1688 platform today issued a notice on the change of the 1688 fast return spot order rules. The announcement stated that in order to provide buyers with more efficient refund services and transaction experience, 1688.com will make adjustments to the fast return spot orders. The formal implementation time for the change of the rules is November 22, 2022, and the scope of the effective scope is for all industries. (1688 platform rules)

2. During the 1111 period, JD Pharmacy's transaction volume increased by more than 3 times year-on-year.

On November 14, the data from JD Pharmacy 11.11 was released. Data shows that as of 9:16 am on November 11, 2022, the transaction volume of JD Pharmacy exceeded the climax of 11.11 last year by 28 hours; from 20:00 on October 31 to 24:00 on November 11, the transaction volume of more than 100 drug brands of JD Pharmacy increased by more than 3 times year-on-year, and the transaction volume of more than half of the store sales of pharmaceutical merchants increased by 100% year-on-year. (E-commerce News)

3. Taobao revises the "Flying Pig Travel Market Management Standards" and will take effect on December 15

On November 14, Taobao released an announcement on the change of the "Flying Pig Travel Market Management Standards" today. The announcement stated that in order to standardize the market management order of Fliggy Travel Market and create a safe and secure online shopping environment for consumers, the "Fliggy Travel Market Management Specifications" has been revised. The change to the rule will be announced on November 14, 2022 and will take effect on December 15, 2022. At the same time, for merchants that have not released products in accordance with regulations, publishing other products/services other than the above-mentioned products/services shall be handled in accordance with the relevant provisions of the "Taobao Market Management and Violation Handling Standards" "Publishing Unauthorized Products". (Taobao platform rules)

4. During Double 11, Ningxia's online retail achieved a year-on-year increase of 2.271 billion yuan.

On November 14, the Ningxia Department of Commerce recently announced that according to third-party statistical monitoring, Ningxia's online retail sales reached 2.271 billion yuan during Double 11, a year-on-year increase of 5.73%, 0.88 percentage points higher than the national average. Yinchuan City and Zhongwei City achieved online retail sales of 1.40 billion yuan and 621 million yuan respectively, ranking first two in the five cities. Specifically, during Double 11, the merchant platform focused on merchant support and upgraded consumption experience, and "not staying up late or not tossing" became an industry consensus. A series of measures such as "extending the price insurance time" and "strictly prohibiting false discounts" improved the online consumption shopping experience. Consumers returned to rationality, and rigid consumption such as fast-moving consumer goods and food at home life dominated. (Ningxia Department of Commerce)

5. Ruoyuchen Double 11 Battle Report: 21 stores have sold a single store that exceeds 10 million

On November 14, the leading brand management company Ruo Yuchen recently released a sales report on Double Eleven. Ruo Yuchen Service Store achieved performance growth during Double Eleven, with 21 stores having a single store sales exceeding 10 million, and 40 stores growing rapidly year-on-year. While the industry declined, service stores achieved counter-trend growth, with an average increase of 15%. Hairrecipe's official flagship store, sales exceeded 60 million during Double Eleven, an increase of 38% year-on-year. The hot product fig washing and care was on the top 1 of the hot selling list of oil control washing and sheath suits. (E-commerce News)

Internet news

6. Fengquhaibao, a subsidiary of SF Express, was filed for bankruptcy review

According to the news on November 14, Tianyancha App showed that on November 14, Fengqu Haibao's affiliated company Shanghai Qianqu Network Technology Co., Ltd. added a bankruptcy review case. The applicant was Li Moumou, and the Measures Court was the People's Court of Pudong New District, Shanghai. The company is jointly held by Shenzhen SF Investment Co., Ltd., Shanghai Qianqu Investment Co., Ltd. and others. It is worth noting that the company has multiple dishonest debtors, consumption restriction orders, and final information on this case, with the amount of failure exceeding 14.55 million yuan. (Tianyan Check)

7. CITIC Securities maintains Alibaba's "buy" rating target price of HK$141

On November 14, CITIC Securities released a research report saying that it maintains Alibaba's "buy" rating, and expects revenue in fiscal years of 2023-2025 to be 8828/9517/1013.3 billion yuan, net profit forecast is 1282/1483/162.8 billion yuan, and a target price of 141 Hong Kong dollars. CITIC Securities believes that since 2022, the Internet industry policies have continued to send positive signals, and combined with the expectation of fundamental repair in fiscal year 2023, the company's valuation suppression is gradually eased, and it remains optimistic about its continued leadership in China's digitalization process. According to Alibaba's official data, Tmall Double 11 still achieved a year-on-year transaction scale in 2022. (Zhitong Finance)

8. Tmall Car Maintenance Announces Franchise Policy for 2023

On November 14, the 2023 franchise policy for Tmall Car Maintenance was officially announced recently, and the new policy will be officially implemented on January 1, 2023. At the same time, in order to help Tmall car maintenance stores achieve standard construction and better operation, in terms of support policies, not only will the support for the strong VI part of the store be retained, but a bonus pool of up to 3,000 yuan/month will be set up based on the store's monthly operating score, and all stores will be exempted from management fees of 180 days from the date of signing. (I knew it before Tmall car maintenance)

Cross-border newsletter

9. eBay opens the US station auto and motorcycle parts category overseas warehouse listing and setting economical logistics options

On November 14, in order to encourage sellers to further develop their auto and motorcycle parts categories, including large items and heavy goods, and reasonably optimize logistics costs, eBay now opens sellers to set up economic logistics options for overseas warehouses in their U.S. station auto and motorcycle parts categories. This update is mainly aimed at the US station auto and motorcycle parts category (P&A). The specific update content is as follows: the requirements for the promised order processing time setting are maintained at ≤3 working days; the requirements for the promised total time limit setting are adjusted from the original requirement of ≤8 working days to ≤13 working days. The new standards for this update will come into effect on January 1, 2023. (eBay)

10. Amazon brand aggregator Upexi acquires E-Core and its subsidiaries

On November 14, Amazon brand aggregator Upexi recently announced the completion of the acquisition of toy brand E-Core and its subsidiaries. It is reported that Upexi is a diversified brand aggregator, committed to acquiring high-growth brands and other emerging potential DTC brands on Amazon, covering multiple fields such as health care, pets, and beauty. Tytan is a children’s toy brand and a maker of popular tiles and building blocks, while New England Technology is a national distributor of branded consumer goods. It is understood that in the past year, E-Core has achieved sales of more than $40 million, which can promote Upexi to accelerate its capture of the children's toy market. (TIPRANKS)