#Laogao E-commerce Newsletter# [February 3 E-commerce Evening News]

Evening information:

1. Make a friend live broadcast room: the sales of the whole venue exceeded 20.37 million on February 2;

2. News says that the Pinduoduo cross-border platform Temu Canada has begun internal testing;

3. 1688 will delay the offline "1688 Buyer Wangwang" on February 8;

4. The WeChat small account function is still under test;

5. Gome Electrical Appliances is restricted from high consumption for the first time...

Lao Gao provides everyone with the latest and most valuable Internet and e-commerce information every day.

E-commerce newsletter

1. News says that the Pinduoduo cross-border platform Temu Canada site has started internal testing

On February 3, a seller showed the media a screenshot of the Moments released by Pinduoduo waiter. The screenshot shows that more than half of the products on the Temu platform have been tested simultaneously on Canadian sites. The waiter revealed that Temu's goal is to sell all over the world in one store, and to gradually expand the opportunity market from the United States. At the same time, a seller revealed that two months ago, a buyer said that he was preparing to open a Canadian station in the first half of 2023 to make the seller actively prepare. Pinduoduo has not responded to the above news yet. (Interface News)

2. Make a friend live broadcast room: The sales of the whole venue exceeded 20.37 million on February 2

On February 3, the live broadcast room of Jieke Friend released a battle report today. On February 2, the sales of the whole venue exceeded 20.37 million, the cumulative number of viewers was 1.89 million, and the sales of the whole venue were 28,600+. (Make a friend live broadcast room)

3. JD.com's Lantern Festival consumption trend: Sweet glutinous rice balls transaction volume is 39.8 times that of salty glutinous rice balls

On February 3, in the early stage of the Lantern Festival, JD.com Consumer and Industrial Development Research Institute released the "2023 Lantern Festival Consumption Trends", which comprehensively interprets the consumption characteristics of this year's Lantern Festival by analyzing online consumption trends such as products, populations, regions, etc. The report shows that before the Lantern Festival, the transaction volume of Lantern Festival/Turban increased by more than 60% month-on-month, and the search popularity of Tangyuan is 2.8 times that of Lantern Festival. (Lianshang.com)

4. Kuaishou e-commerce’s “Spring Festival” comprehensive report on women’s clothing features: GMV increased by more than 47% year-on-year

Data shows that the GMV completion rate of the "Spring Festival No Close" event in Kuaishou E-commerce Women's Clothing Industry Characteristic Comprehensive Business District exceeded 123%, GMV increased by more than 47% year-on-year, and short video GMV increased by 69% year-on-year. Among them, Tong Erbao Dahai Fur launched a low-priced fan-spoken event, with an average of 7 hours of broadcast per day. During the event, the fan repurchase rate exceeded 80%, completing a breakthrough in a single-scene GMV; the fur businessman Junjuna Fur Factory, which released grass planting videos every day, and the average daily broadcast of more than 7 hours, was directly operated by the fur factory. During the event, 4 million live broadcasts were reached, with a year-on-year increase of more than 230%. (Kuaishou E-commerce)

5. 1688 delays the launch of "1688 Buyer Wangwang" on February 8

According to February 3, 1688 issued an announcement stating that "1688 Buyer Wangwang" was originally scheduled to be officially launched on February 1, 2023. In order to protect the service experience of merchants, it has been postponed to the official offline on February 8, 2023. After the offline, 1688 will process and protect the seller's personal information in accordance with the provisions of the Personal Information Protection Law and other relevant laws and regulations. Starting from February 8, sellers will not be able to use various functions of Buyer Wangwang. Please complete the download and installation of "1688 Buyer Workbench" as soon as possible. After the seller starts to use the buyer's workbench, the user profile, contacts, chat history and other information of the buyer's workbench will be automatically moved to the buyer's workbench. (1688 platform rules)

Internet news

6. Gome Electrical Appliances are restricted from high consumption for the first time

According to the news on February 3, Tianyancha App, it showed that recently, Gome Electrical Appliances Co., Ltd. and its legal representative Dong Xiaohong were restricted by the People's Court of Tongzhou District, Beijing for failing to fulfill the obligations determined by the effective legal documents. The execution case number is Jing 0112 Execution No. 582, and the applicant is Yue Moumou. The consumption restriction order is issued on January 31, 2023. This time, the restricted high consumption is the first time that the company has been restricted since its establishment. The information also shows that since November last year, Gome Electrical Appliances Co., Ltd. has a total of 12 information on the person being executed, with a total amount of over 200 million yuan. (Tianyan Check)

7. The WeChat small account function is still under test

According to news on February 3, it was reported that WeChat has fully opened the function of registering auxiliary accounts with the same mobile phone number, and announced the registration process. However, the reporter found that the functions of registering two accounts on WeChat and mobile phone number have not been fully released. It is understood that this function is still under grayscale testing. (China News Service)

8. Goldman Sachs: Maintain Meituan-W "buy" rating target price rises to HK$238

On February 3, Goldman Sachs released a research report saying that it maintained Meituan-W's "buy" rating and raised its adjusted net profit forecast for 2023/24 to 15.65/33.406 billion yuan to reflect stronger-than-expected recovery in offline consumption, GTV trends and foreign exchange factors, and the target price was raised from HK$231 to HK$238. The report said that the company's Lunar New Year Golden Week recovery trend was strong, with the average daily consumption scale of in-store business rising 66% compared with the same period in 2019, while the number of orders for multi-person dine-in packages increased by 53% year-on-year. The bank believes that Meituan's local service business will still be under the focus, and expects the company's total transaction volume in the store business to increase by 33% this year. (Zhitong Finance)

Cross-border newsletter

9. Ping Pong launches the function of making an appointment exchange

According to news on February 3, Ping Pong launched the reservation exchange function. It is understood that Ping Pong Fu Trade’s reservation exchange currently supports eight currencies, including US dollar, euro, pound, offshore RMB, Australian dollar, Canadian dollar, Japanese yen and Singapore dollar, which will further meet the global capital needs of foreign trade companies to sell and collect global funds. Without occupying account funds, sellers can lock in full exchange rate risk. Depending on the change in order collection, the seller can also change the "date of fulfillment and exchange" at any time within three months of the order date. (PingPong)

10. Amazon and Sumeda's textile companies have signed a new textile cooperation agreement

According to February 3, Sumeida's textile company recently signed a new textile cooperation agreement with Amazon, with orders exceeding 10 million US dollars. The cooperation project signed by the textile company and Amazon covers multiple advantageous categories of home textile products, focusing on green and low-carbon characteristics. Since establishing a cooperation with Amazon in 2019, the order amount of textile companies has maintained an increasing trend year by year, becoming one of Amazon's stable textile suppliers in China. In 2023, Sumeida will continue to consolidate and optimize its overseas layout and vigorously explore the domestic market. (e company)