Morning News: Kuaishou E-commerce will pay GMV in 2022 to reach 410 billion and consider building a product supply chain; Amazon's sales scale from Thanksgiving to online shopping Monday hits a record; 1688 upgrades and adjusts the "Rongyishou" product before December 31; Station B will focus on expanding the Southeast Asian market; Shopee seller loan plan is officially launched in the China Seller Center...
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E-commerce newsletter
1. Kuaishou has cleared a total of 175,417 short videos in November
On December 1st, Kuaishou Blackboard News recently issued a notice of punishment for Kuaishou's violation of regulations on users and content. Kuaishou said that as a national life record and sharing platform with a large number of registered users, Kuaishou knows the heavy social responsibility and has always been committed to creating a positive, healthy, green and fair content ecological environment for the majority of users, and has zero tolerance for illegal and harmful content involving violent pornography, rumors, fraud and other illegal and harmful content. (Kuaishou Blackboard Newspaper)
2. Kuaishou E-commerce will pay GMV to reach 410 billion in 2022. Considering building a product supply chain
According to news on November 30, Kuaishou E-commerce’s payment GMV in 2022 is expected to reach about 410 billion yuan, an increase of 26% over the previous year. Payment GMV is only counted on all paid orders and does not include orders submitted by users but not paid. At present, Kuaishou has paid GMV of 270 billion yuan in the first three quarters. Kuaishou E-commerce’s GMV target for the order-uploading caliber this year is about 900 billion (financial report caliber). In 2022, after Kuaishou e-commerce user orders were submitted, the payment ratio for completing the payment dropped from 48% to 45%. A person close to Kuaishou said that the proportion has rebounded recently. Many analysts estimate that the figure in Douyin e-commerce is about 60%. It is reported that after Kuaishou CEO Cheng Yixiao personally led the team in Kuaishou E-commerce in August, the first task proposed to the team is to deepen e-commerce: consider building its own supply chain from the perspectives of product supply and contract fulfillment, such as creating more affordable source goods, so that users can buy goods more cheaply; and conducting deeper cooperation with express delivery providers to enable buyers to receive goods faster. (LatePost later)
3. 1688 upgrade and adjustment of the "Rongyishou" product is completed before December 31
According to November 30, the 1688 platform today issued an announcement on the upgrade of the "Rongyishou" product (hereinafter referred to as the announcement).
The announcement stated that due to business adjustment needs, in order to further facilitate merchants to use Rongyishou services, Rongyishou will make the following upgrades and adjustments. This adjustment will be carried out one after another from December, and all upgrades and adjustments will be completed before December 31, 2022.
The announcement shows that the brand name is changed: From January 1, 2023, the personal Rongyisheng will be officially renamed "Bank Transfer"; the corporate Rongyisheng will be officially renamed "Company Transfer". Adjustment of personal Rongyi payment account name: The personal Rongyi payment account name has been changed from "seller name" to "Online Merchant Bank Order Account (1688 Store)"; the enterprise Rongyi payment remains unchanged. Changes to customer agreement: The personal Rongyi Contract will be renamed from the Rongyi Contract Service Contract to the "Order Account Management Service Contract". The specific terms of the contract will only be renamed accordingly, and the rest of the content will remain the same; the corporate Rongyi Contract will remain unchanged. In addition to the above, the original bank transfer collection account, fund withdrawal process and time limit will remain unchanged. The payment account remains unchanged: the account remains exclusively for the original buyer and does not change. The withdrawal link remains unchanged: After the buyer confirms receipt, he will continue to withdraw from Rongyishou to the Alipay account bound to the merchant. (Webmaster's Home)
Internet news
4. DoorDash announced a 6% layoff in US food delivery platform
According to reports on December 1, the US food delivery platform DoorDash recently announced that in order to cut costs and cope with the global economic downturn, the company will lay off about 1,250 employees. The layoffs will affect about 6% of DoorDash's employees, including U.S. and non-U.S. employees, people familiar with the matter said. Data shows that as of December 31, 2021, DoorDash has more than 8,600 employees worldwide. After the news came out, DoorDash shares rose 2.5% in pre-market trading. Prior to this, several American technology companies have announced layoff plans, including Snap, Meta, Twitter and HP. Recently, there have been reports that Google may also join the layoffs. (Sina Technology)
5. Station B will focus on expanding Southeast Asian markets when going overseas
According to November 30, Wang Xuan, the former head of the Star Project Department, has resigned recently. It is understood that the Xingchen Project Department is the most important international business department of Bilibili. At the same time, B Station has continued its domestic strategy in overseas expansion, namely using "two-dimensional" content to serve as a cold start to attract users, and using this to build a video community where young people gather. The reason why Southeast Asia was chosen as the first stop to go overseas was that the users here had the habit of 2D content consumption, and there were no products that were completely homogeneous with B station in the market. (LatePost later)
6. Zhihu's third quarter revenue was RMB 912 million and its average monthly active users were RMB 97 million.
According to news on November 30, Zhihu released its third quarter results for 2022 ended September 30, 2022, with total revenue of RMB 912 million, an increase of 10.7% over the same period in 2021. The gross profit was about 444 million yuan, an increase of 4.6% year-on-year. The average monthly active users reached 97 million, and the average monthly paid members reached 10.9 million, an increase of 99.5% over the same period in 2021. As of September 30, 2022, the company's cash and cash equivalents, fixed deposits and short-term investments were RMB 6.6 billion. (Zhihu official)
7. Alibaba plans to sell approximately 3% of Zomato shares for US$200 million
According to reports on November 30, Alibaba Group plans to sell about 3% of Indian food delivery company Zomato for US$200 million. According to reports, Ant Financial and Alipay will reduce their stake in Zomato to about 10%. Bulk transactions will be conducted at a discount of about 5%-6%. Morgan Stanley will serve as the broker for the deal.
It is reported that Zomato's share price has fallen by more than 55% this year. Founded in July 2008, Zomato is an Indian food recommendation platform that can recommend restaurants and food products to users according to user preferences, and provide relevant search services. It also provides users with social functions such as reviews and sharing, as well as food takeaway and table reservation services. (Jinwu Information)
Cross-border information
8. Shopee seller loan plan is officially launched in China Seller Center
On November 30, the Shopee Seller Loan Program was officially launched in the China Seller Center, providing diversified financing channels to help quickly, conveniently and flexibly solve the problem of capital turnover, seize business opportunities in Southeast Asia and Latin America, expand business, increase investment for the peak season, and make big orders. At the same time, sellers will have the opportunity to receive loan invitations from third-party lending partners at the China Seller Center. It should be noted that lending products are provided directly and independently by third-party lending partners, and the specific product interest rate, term and repayment method shall be subject to the agreement signed by the seller and the third-party lending partners. (Shopee cross-border e-commerce)
9. Amazon's sales scale from Thanksgiving to online shopping Monday hits record
On December 1, Amazon said on Wednesday that during the five-day holiday shopping season weekend from Thanksgiving to online shopping Monday, the sales scale was the largest in history, and customers purchased hundreds of millions of items during this period.
The company said the best-selling categories are home, fashion, toys, beauty and Amazon devices. The best-selling items are the Echo Dot, Fire TV Stick and Apple's AirPod. (Interface News)
10. Hainan Free Trade Port’s first cross-border e-commerce B2B direct export goods cleared
On December 1, a batch of clothing and accessories worth 560,000 yuan and weighing 3.16 tons was successfully cleared at the Haikou Meilan Airport Customs, which belongs to Haikou Customs, and will be exported to France in the future. This is the first time that enterprises in Hainan Province have declared export goods through the cross-border e-commerce enterprise-to-business (B2B) "9710" model, marking a substantial breakthrough in the new cross-border e-commerce foreign trade format of Hainan Free Trade Port.
It is reported that the "9710" model is a model of cross-border e-commerce B2B export, that is, the cross-border e-commerce B2B direct export model. This model meets the needs of cross-border e-commerce companies for mass exports, can save logistics costs for enterprises, and can further broaden the export business channels of free trade port enterprises. (China News Network)
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