#Laogao E-commerce Newsletter# [March 9 E-commerce Evening News Brief]

Evening information:

1. It is reported that the GMV target of Douyin e-commerce in 2023 will not be less than 2 trillion yuan, and pan-mall accounts for about 30%;

2. Douyin e-commerce revised its price publicity rules and traders are not allowed to fabricate product price comparisons;

3. Baozun E-commerce will release its fourth quarter and full-year financial results for 2022 on March 22;

4. Shopee Shanghai warehouse will be officially closed on March 15;

5. Forbes China released 20 potential women in the Chinese business world in 2023, and Xu Wei, founder of Red Bullin, was selected...

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E-commerce newsletter

1. News says that the target of Douyin e-commerce GMV in 2023 will not be less than 2 trillion yuan, and pan-mall accounts for about 30%.

According to 36Kr, according to several insiders, from the fourth quarter of last year to January-February this year, the proportion of Douyin pan-mall GMV in the entire Douyin e-commerce market has stabilized at nearly 30% in the single month, which has increased significantly compared with the first half of last year. This year, the overall GMV target of Douyin e-commerce will not be less than 2 trillion yuan, of which the target of the pan-mall will account for about 30% of the overall target. Regardless of personnel investment, marketing budget and subsidies, this year it will be biased towards pan-malls. Many people familiar with the matter said that in the first half of this year, Douyin Mall has also begun testing advertising spaces in some cities. (36Kr)

2. Baozun E-commerce will release its fourth quarter and full-year financial results for 2022 on March 22

3月9日消息，宝尊电商有限公司董事会将于2023年3月22日 举行董事会会议，藉以批准截至2022年12月31日止第四季度及全年的财务业绩及公告。倘获批准，公司将于2023年3月22日美国市场开市前及香港市场交易时间后于香港联交所网站公布业绩。业绩电话会议将于2023年3月22日下午七时三十分进行。（宝尊电商）

3. Kuaishou e-commerce governance "release of non-compliant information" behavior in February. The platform dealt with 11,357 violations

In February 2023, some merchants/carrying experts on the platform experienced the above violations. For these merchants/carrying experts, the platform has dealt with them in accordance with the implementation rules of "Publishing Non-compliant information" (merchant) and the implementation rules of "Publishing Non-compliant information" (marketing). In February, the platform dealt with a total of 11,357 violations of "release of non-compliant information". (Kuaishou E-commerce)

4. Douyin e-commerce revised price promotion rules. Goods experts are not allowed to make up product price comparisons.

On March 9, Douyin E-commerce issued a public announcement today, and the "Tiktok E-commerce Creators Price Promotional Behavior Code" officially took effect after being revised. For multiple SKU products, creators need to clearly inform the prices corresponding to the specifications of the displayed products. Before providing price protection services for promoting products, creators should ensure that the merchant can fulfill their promises in a timely manner and shall not make any promises without making any promises. When a creator promotes the price being compared, he must display the relevant certificates of the price being compared in the live broadcast room or video; or after publishing the reference price through the "Commodity Reference Price" function, the information will be displayed in the live broadcast room. (Tiktok e-commerce)

Internet news

5. Forbes China releases 20 potential women in Chinese business in 2023, and Xu Wei, founder of Red Bullin, was selected

On March 9, Forbes China released 20 potential women in the Chinese business world in 2023, and Xu Wei, founder and CEO of Hongbolin, was selected. According to reports, Hongbolin, founded in 2017, is a circular fashion lifestyle e-commerce platform with second-hand luxury goods transactions as the core. It covers more than 2,000 fashion brands in all categories, including luggage, shoes and clothing, jewelry, watches, etc., providing users with a new life experience that both buy and sell. In 2022, RedBlin completed a US$100 million round of financing, setting a record for the industry's single financing. Aurora Big Data shows that as of the end of last year, the number of monthly active users of Red Bolling had ranked among the top of luxury e-commerce platforms. (Forbes)

6. News says that Didi Senior Vice President Fu Qiang has resigned and will join Manbang Group

On March 9, "Travel Style" exclusively learned that Didi's senior vice president and CEO of the Urban Transportation and Service Group Fu Qiang has officially resigned and will join Manbang Group, known as the "Freight Version of Didi" in the near future. At present, it is not yet certain about Fu Qiang’s specific position and responsibilities in Manbang. (Travel style)

7. Tencent’s Mingwan Education increased its capital to 72.7 million

According to the news on March 9, Tianyancha App, recently, Shenzhen Mingwan Education Co., Ltd. has undergone industrial and commercial changes, with the wholly-owned shareholders from Shenzhen Tencent Education Technology Co., Ltd. to Shenzhen Tencent Zhenyi Enterprise Management Co., Ltd., and the legal representatives are changed from Chen Shujun to Zhao Guochen, and the registered capital has increased from RMB 2.7 million to RMB 72.7 million. Shenzhen Mingwan Education Co., Ltd. was established in November 2020. Its business scope includes technology development, technology transfer, technical consultation, technical services, cultural and artistic activities exchange planning, etc. in the field of education and technology. (Tianyan Check)

Cross-border newsletter

8. Shopee Shanghai Warehouse will be officially closed on March 15

On March 9, Shopee official issued a notice today that in order to integrate the transfer warehouse resources and provide Shopee sellers with better services, the Shopee Shanghai warehouse will be officially closed on March 15, 2023. The transition period for warding and warehouses is from March 15, 2023 to April 14, 2023. During this period, the Shanghai Warehouse will still receive goods for processing. Starting from April 15, 2023, Shanghai Warehouse will no longer accept any goods. For packages that use self-delivery or express delivery, please arrange the goods to Shopee Yiwu warehouse as soon as possible. For packages that are not collected by users/paid for payment, the service provider will ship them to the corresponding Shopee forwarding warehouse after collecting them. (Suncute Station)

9. AliExpress announced the launch of Choice service in South Korea as fast as 3-5 days

March 9th news, according to Yonhap News Agency, Alibaba AliExpress held a press conference in Seoul, South Korea today, announcing the launch of Choice services to provide popular products around the world at ultra-low prices, and announced its first spokesperson, Ma Dong-seok. Choice services include delivery within 3-5 days, free shipping, free shipping returns, etc. In addition, AliExpress plans to launch Choice Day between the 1st and 3rd of each month. Zhang Rui, head of AliExpress South Korea market, said that South Korea is AliExpress’s key market and has made improvements in payment, logistics, etc., and has set up a Korean-speaking customer service center in Seoul. We will continue to increase investment in the future. (Yonghap News Agency)

10. AliExpress plans to invest 100 billion won in South Korea this year

March 9th news, AliExpress South Korea CEO said on Thursday that it plans to invest about 100 billion won in South Korea this year, and the online retailer, supported by China's Alibaba Group, is working to strengthen its influence in the cross-border shopping market. Ray Zhang, head of AliExpress, said at a press conference in southern Seoul that the investment aims to "provide Korean consumers with more attractive products and a better cross-border shopping experience." At present, Alibaba is seeking to strengthen its partnerships with Korean companies such as Naver, online payment services Kakao Pay and CJ Logistics to achieve service localization and expand its business scale in South Korea. (The Korea Times)