#Laogao E-commerce Newsletter# [November 16 E-commerce Morning News]

Morning News: "Douyin Product Sharing Function User Margin Rules" added a new category of margin type; AliExpress ranked first in the Korean shopping app; Xiamen Double 11 online retail sales reached 22.77 billion yuan; Meituan will hold a board meeting on November 25 to approve the financial results of the third quarter of 2022; JD Supply Chain Fintech has increased the amount of merchants by more than 16 billion yuan during the 11.11 period...

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E-commerce newsletter

1. JD Supply Chain Financial Technology increased the amount of merchants by more than 16 billion yuan during the 11.11 period.

On November 15, JD Supply Chain Finance’s “Special Action for Micro-Double 11.11” ended. Data shows that the exclusive financial service platform "Jing Xiaodai", which serves small and micro businesses that open stores on JD.com, provides special financial support for merchants in response to the financial needs of 11.11 stock loans, early recovery of sales payments, and daily operating payments. During JD.com, it helped merchants save more than 10 million yuan in interest during 11.11. (JD Technology Blackboard Newspaper)

2. Baidu Digital Family Enters Kuaishou

On November 15, Baidu AI digital people Du Xiaoxiao, Xigaga, Ye Youyou and Lin Kaikai all announced on their official Weibo that they will be on Kuaishou. At the same time, a video was also released in which the Baidu Digital Family came to the Kuaishou headquarters to take a photo with the Kuaishou mascot. It is understood that next, Baidu Digital People's Family will start 24-hour AI live broadcast. Based on Baidu Intelligent Yunxiling's SaaS platform and monocular motion capture and other latest technologies and AI capabilities, Baidu will and Kuaishou will explore digital people's short video content in depth. It is worth mentioning that recently, many VR live broadcast rooms have emerged on Douyin. (AI Du Xiaoxiao)

3. China Post EMS seven major domestic projects generated a total of 28.15 million business volumes.

On November 15, China Post News released a news report today that in 2022, China Post delivered a dazzling report card. On Double 11 this year, China Post's first order was delivered only 8 minutes, setting a historical record; the express delivery volume on the first day was 12 million pieces, setting a historical record. Overall, from October 31 to November 13, the seven major domestic projects of China Post EMS generated a total of 28.15 million business volumes, a year-on-year increase of 6%. On the day the "Double 11" event was launched on November 1, the seven major domestic projects had a cumulative business volume of 2.768 million pieces, a year-on-year increase of 4.3%. The business volume of the ultra-express delivery industry increased by 11.3 percentage points on November 1. (China Post)

4. Xiamen’s online retail sales reached 22.77 billion yuan

Xiamen's online retail sales rank first in Fujian Province, accounting for 42.3%. During Double 11, the top three physical products in Xiamen's online retail market were clothing, shoes, hats, textiles, daily necessities, household appliances and audio-visual equipment. Xiamen's online retail sales of agricultural products was 838.148 million yuan, accounting for 29.1% of the province, ranking first in the province. Among them, tea and tonic food are deeply loved by consumers, with sales accounting for 39.4% and 36.5%. At the same time, this year's Double 11, 404 Xiamen enterprises and 573 Xiamen stores had online retail sales of more than one million yuan. (Xiamen Daily)

5. "Douyin Product Sharing Function User Margin Rules" added a new category margin type

According to November 15, Douyin E-commerce recently issued a notice on the revision of the "Douyin Product Sharing Function User Margin Management Rules", "E-commerce Creator Account Management Rules", and "E-commerce Creator Illegal and Credit Segment Management Rules". The opinion collection period is from November 14, 2022 to November 21, 2022. (Yibang Power)

Internet news

6. Most popular Chinese stocks closed on Tuesday and rose by more than 22%.

According to news on November 16, as of the close of US stocks on November 15, most popular Chinese stocks rose, among which Alibaba rose 11.17% to US$79.30, with a total market value of US$209.95 billion; Bilibili rose more than 26% to US$16.28, with a total market value of US$6.511 billion. (Snowball)

7. Meituan will hold a board meeting on November 25 to approve the financial results for the third quarter of 2022

On November 15, Meituan issued an announcement that the company's board of directors is scheduled to hold a board meeting on November 25, 2022 to consider and pass the group's unaudited financial results in the third quarter of 2022, and to handle other matters. In August this year, Meituan released its second quarter financial report for 2022. The financial report showed that in the second quarter, Meituan achieved revenue of 50.9 billion yuan, a year-on-year increase of 16.4%, higher than market expectations; the loss during the period was 1.116 billion yuan, a year-on-year decrease of 66.7%. At the same time, Meituan flash sales, which was previously a new business, were adjusted to the "core local business" sector. (Meituan official)

Cross-border information

8. Amazon launches virtual medical clinic Amazon Clinic

On November 15, Amazon announced the launch of Amazon Clinic on November 15 local time, which is a virtual medical and health store that brings together clinical products from telehealth providers across the country. Amazon Clinic will operate in 32 states and provide virtual care for more than 20 common conditions such as allergies, acne, hair loss, dandruff, eczema. Currently, Amazon Clinic does not accept insurance, but complies with FSA and HSA standards. Customers can use their insurance to pay for any prescription medications they incur when they access Amazon Clinic. Amazon also said it hopes to expand its Amazon clinic to other states in the coming months. (E-commerce News)

9. Alibaba International Station will remove products such as unbranded event game boxes

On November 15, Alibaba International Station released a recall announcement on the product of unbranded event game box today. The announcement stated that in order to protect the rights and interests of platform users and reiterate Alibaba International Station's concern about the importance of product safety, Alibaba International Station will remove the products that need to be recalled. Merchants should inspect the goods and inventory they publish on the platform based on the following recall information, and ensure that the relevant recalled goods are no longer sold on Alibaba International Station. Any products that are substantially similar and may pose similar safety hazards should also be removed from the shelves. (Alibaba)

10. AliExpress ranks first in the Korean shopping app

According to the report on November 15, according to statistics from the mobile data analysis platform App Annie, during the overseas Double Eleven period, AliExpress ranked first in the shopping app download rankings of the Korean market, surpassing the local e-commerce platform Coupang.

It is reported that since the beginning of this year, AliExpress has continuously increased its investment in the Korean market, especially with the support of Weihai warehouse, it has built new Yantai warehouses and other preferred warehouses specifically for the Korean market. Currently, it only takes 3 days for Chinese products on AliExpress to be delivered to South Korea. On this basis, AliExpress also invested 10 billion won to further lower the price threshold for Chinese products and attract more Korean consumers. It opened a Korean-language customer service center in Seoul to help Chinese merchants improve their service experience.

Among domestic cross-border merchants, the Korean market is still a blue ocean. As the fifth largest e-commerce market in the world, South Korea's market size is comparable to that of Southeast Asia. (Yibang Power)