#Laogao E-commerce Newsletter# [E-commerce Evening News on January 31]

Evening information:

1. The cumulative volume of related orders during the Spring Festival of Douyin exceeded 24.67 million orders;

2. The 2023 Zhejiang Online New Year’s Festival achieved an online retail sales of 158.51 billion yuan, an increase of 11.3% year-on-year;

3. Oriental Selection invested 17.52 million yuan to expand the self-operated products factory in Jiaozuo, Henan;

4. Shopee: The system will fully hide buyer information from February 8, 2023;

5. Black Cat Complaint Data: A total of 48,678 valid complaints were received during the Spring Festival in 2023...

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E-commerce newsletter

1. The 2023 Zhejiang Online New Year Festival achieved an online retail sales of 158.51 billion yuan, an increase of 11.3% year-on-year

According to January 31, Zhejiang has recently continued to carry out the "2023 Zhejiang Online New Year's Goods Festival", once again setting off a wave of e-commerce promotion of consumption. According to statistics, during the Online New Year’s Festival, Zhejiang achieved online retail sales of 158.51 billion yuan, an increase of 11.3% year-on-year. In addition, data shows that during the 2023 Spring Festival, Zhejiang achieved online retail sales of 17.22 billion yuan, a year-on-year increase of 16.5%. Among them, the online retail sales on Alibaba's e-commerce platform were approximately 7.8 billion yuan, an increase of 12.7%; the online retail sales on Douyin's e-commerce platform exceeded 3 billion yuan, an increase of 43.7%. (Sina Finance)

2. The cumulative number of orders related to Douyin during the Spring Festival exceeds 24.67 million orders

On January 31, Douyin Life Service released the "Spring Festival Data Report", showing that during the Spring Festival of the Year of the Rabbit, offline consumption has recovered rapidly. From January 21 to 27, the cumulative number of orders related to the Spring Festival exceeded 24.67 million, and the catering, tourism and accommodation, and leisure and entertainment industries heated up in full swing. The report shows that during the Spring Festival, the cumulative number of food orders exceeded 12.38 million, and the transaction volume increased by 112% year-on-year compared with the Spring Festival in 2022. During the Spring Festival, the "people follow the crowd" scenes in popular scenic spots in various places reappear. Guangdong, Henan, Jiangsu, Sichuan, Shandong and Anhui are the six most popular provinces for cultural tourism during the Spring Festival. (Tik Tok Life Service)

3. Black Cat Complaint Data: A total of 48,678 valid complaints were received during the Spring Festival in 2023

On January 31, the Black Cat Big Data Center and the Black Cat Complaint Platform released the 2023 Spring Festival consumer complaint data report. According to the data from the Black Cat Complaint Platform, a total of 48,678 valid complaints were received during the 2023 Spring Festival. Judging from the proportion of industry complaints, the entertainment and life industry accounted for the highest proportion of 22.00%. Comparing the data of the whole year in 2022, it was found that the proportion of complaints in the entertainment, tourism and travel sectors in the Heimao platform in the 2023 Spring Festival has increased significantly, which is highly correlated with the overall consumer market this year's Spring Festival, especially the recovery of offline consumption. Among the complaint users during the Spring Festival, men accounted for 63.21%, a decrease from last year's Spring Festival. (Black Cat Complaint)

4. Oriental Selection invests 17.52 million yuan to expand the self-operated products factory in Jiaozuo, Henan

On January 31, Oriental Selection announced an investment of 17.52 million yuan to expand the factory of Oriental Selection’s self-operated sausage. The factory is located in Jiaozuo, Henan, covering an area of ​​14,000 square meters. It is understood that this is the first specific investment case in the agricultural product industry chain after Oriental Selection announced several months ago to increase agricultural investment. Oriental Selection stated that it has signed an agreement with Oriental Selection's self-operated sausage producers, and the two parties intend to jointly establish a joint venture. Oriental Select holds a 30% stake in the joint venture, and the investment method is cash investment, and the funds are mainly used for production workshop construction, equipment procurement, etc. (Oriental Selection Official Account)

Internet news

5. WeChat launches the "face-to-face red envelope" function

On January 31, WeChat launched the "face-to-face red envelope" function. Users open WeChat, click "+" in the upper right corner, select "Custom-to-face red envelope", click "Face-to-face red envelope", click "Package red envelope", select "Number of red envelopes" and "Total amount", and just stuff money into red envelopes. (WeChat)

6. Payment platform Flywire has been approved by Singapore to become one of the major local payment institutions

On January 31, Flywire, a payment platform supported by Temasek Holdings, was approved in principle by the Monetary Authority of Singapore and became one of the major local payment institutions. Flywire, based in the United States, will be able to operate local remittance services, merchant collection services, and cross-border remittance services. Flywire currently focuses on enterprise payment services, as well as enterprise-to-business, health care, education and tourism solutions. Founded in 2009, Flywire serves more than 2,800 customers in more than 240 countries. In July 2018, Flywire announced the completion of a US$100 million Series D financing led by Temasek and followed by Bain Capital and fund management company F-Prime Capital. (Mobile Payment Network)

7. Yunda shares hit the daily limit today and the three institutions bought 75.8092 million yuan.

According to the news on January 31, Yunda shares hit the daily limit today, with a turnover of 999 million yuan and a turnover rate of 2.43%. Data from the after-hours Dragon and Tiger List showed that Shenzhen Stock Connect special seats bought 81.0925 million yuan and sold 77.6554 million yuan, the three institutions bought 75.8092 million yuan in net purchases, and the three institutions sold 54.5678 million yuan. (Sina Finance)

8. MSCI raises Kuaishou ESG rating to BBB

On January 31, Morgan Stanley Capital International, an international authoritative index institution, recently announced the latest annual environmental, social and governance rating results. With its excellent management performance in ESG, Kuaishou Technology's ESG rating has been upgraded to BBB level, leading the way among domestic Internet companies. This is also the first time that Kuaishou has won the BBB level since it was included in this rating. The report shows that the upgrade of Kuaishou's rating to BBB level this time is mainly based on Kuaishou's comprehensive improvement in five issues including corporate governance, corporate behavior, carbon emission environmental impact, privacy and data security, and human resources development. (Leju Finance)

Cross-border newsletter

9. Shopee: The system will completely hide buyer information from February 8, 2023

On January 31, Shopee issued new regulations. In order to further protect user data, the platform will hide buyer names and contact information from 2023/2/8, and hide buyer addresses during some order fulfillment stages. The Shopee platform recommends that all sellers contact buyers through Shopee chat to facilitate the retention of chat and transaction history. This adjustment applies to the PC version of the Seller Center Shopee App and all third-party software. (Shopee Philippine e-commerce platform)

10. Shein may appoint former SoftBank executives as chairman of Latin America business

According to reports, people familiar with the matter said that online fashion retailer Shein will appoint Marcelo Claure, a former executive of SoftBank Group Co., Ltd., as chairman of the Latin American business, according to sources familiar with the matter. Claure personally also invested about $100 million in Shein, people familiar with the matter said. Claure served as SoftBank's chief operating officer and a close confidant of the company's founder Masayoshi Son. Claure is known for its role in solving SoftBank investment-related issues. Earlier, he left SoftBank in January 2022 due to disagreements with SoftBank over billions of dollars in compensation. He served as CEO of Sprint from 2014 to 2018. (Interface News)