#Laogao E-commerce Newsletter# [E-commerce Evening News on March 10]

Evening information:

1. Mogujie’s “3.7 Spring New Shopping Festival” ended with the end of 11 anchors’ self-made brands’ transaction volume exceeded one million;

2. Kuituantuantuan, a social group buying platform under Pinduoduo, has started investment promotion;

3. The Kuaishou’s “Fishing Boat Plan” will invest a total of 300 million traffic when it is launched in the 2.0 stage;

4. The 1688 Anxin Shopping Customized Edition will be launched on pilot on March 20;

5. TikTok Shop launches its first platform event at the beginning of the year, "Spring and Summer Renewal Promotion"...

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

E-commerce newsletter

1. 1688 Adjust the "Multi-channel Distribution Market Management Specifications"

According to March 10, 1688 recently issued a notice stating that in order to create a good shopping environment for the 1688 platform and promote the sustainable and healthy development of the 1688 distribution market, the content supplement is specially provided for the "Multi-channel Distribution and Market Management Specifications". The main changes this time are: When suppliers supporting distribution services find it difficult to obtain necessary shipping information, in order to avoid the transaction being unable to be fulfilled, suppliers' obligation to actively obtain necessary shipping information from distributors and distributors' cooperation obligations. (1688 platform rules)

2. Kuaishou’s “Fishing Boat Plan” will invest a total of 300 million traffic in the 2.0 phase.

According to reports on March 10, Kuaishou recently aimed at "providing high-quality products, exploring new types of fields, and creating honest people" to comprehensively promote the implementation of the 2.0 phase of the "Fishing Boat Plan" for the second-hand car field. It is reported that the plan will invest a total of 300 million traffic to help high-quality merchants and authors grow and monetize. As Kuaishou’s long-term support plan in the field of used cars, since its launch in September 1.0, 2022, the "Year Plan" has selected and supported 1,000 high-quality used car creators, achieving a video viewing volume of 1.5 billion+. The 2.0 phase of the "Fishing Boat Plan" will last from March 9 to June 30. (China Radio and Television)

3. Kuituantuantuan, a social group buying platform under Pinduoduo, starts investment

Relevant investment information provided by a local life service provider shows that the main categories of Kuaituantuan Local Life currently include catering, entertainment, beauty and accommodation, and the service provider is divided into three parts: ISV, merchant service provider and group leader service provider. A promotional information shows that after the Kuaituantuantuan local life business is officially launched, it will be launched on the Kuaituantuantuan WeChat Mini Program Personal Center and the group leader’s homepage. For early entry merchants, Kuaituantuan will provide "1-to-1 service for city managers, support for traffic resource location activities, and product selection for official operation personnel." (New Culture News)

4. Mogujie's "3.7 Spring New Shopping Festival" ended with 11 anchors' own brand transaction volume exceeding one million

3月10日消息，蘑菇街“3.7春尚新购物节”已收官。根据战报显示，蘑菇街此次大促活动女装款式丰富度显著提升，粉丝粘性持续增强，客单价同比增长31%，品单价同比增长21%。根据战报显示，此次“3.7春尚新购物节”大促活动中，蘑菇街平台11位主播自制品牌突破百万成交额，其中小甜心、叶子、潘仲晴等主播自有品牌成交金额达到了数百万乃至数千万的量级。（商广网）

5. 1688 Anxin Shopping Customized Edition Added Wrong Package Compensation Guarantee will be launched on March 20th

According to March 10, 1688 announced today that in order to improve the customization experience of Anxin Buyer, Anxin Buyer · Customized Edition will increase the compensation guarantee for printing wrong packages. The guarantee content will be launched on March 20, 2023 and will be gradually released to all merchants that have opened Anxin Buyer · Customized Edition services. The compensation guarantee for wrong printing is provided by China National Insurance Property Insurance and Sunshine Insurance Company. After the third-party insurance company bears the compensation fee, it will not seek compensation from the merchant. The announcement will take effect on 7 days from the date of its release, and the technical service fee charging rules in the "Anxin Shopping Merchant Service Agreement" remain unchanged. (1688 platform rules)

Internet news

6. In 2022, Macao local mobile payment transactions reached 260 million, with a total amount of 26 billion Macau dollars

According to reports on March 10, the Macau Financial Administration said that in 2022, there were 260 million local mobile payment transactions in Macau, with the amount reaching 26 billion Macau patacas, an increase of about 40% from 2021 and a significant increase of more than 20 times compared with 2019. At present, in addition to the eight local mobile payment tools "Juyiyong", merchants can also accept a variety of domestic and foreign payment tools, including mainland WeChat Pay and Alipay, Hong Kong WeChat Pay and Alipay, South Korea KakaoPay, and related payment services from international card organizations. (Macau Monetary Authority)

7. Xiabu Xiabu: Plan to launch takeaway business on Douyin in the third quarter, and the membership platforms of both parties will be opened before May

On March 10, the reporter learned from the company that Xiabu Xiabu announced the latest moves in the official cooperation with Douyin today. In 2023, Xiabu Xiabu will conduct diversified cooperation on the Douyin platform through official live broadcasts, expert live broadcasts, short video sales, etc. It is estimated that the transaction volume this year will increase by at least twice, from 100 million yuan last year to 200 million yuan. In addition, the membership platforms of both parties will be opened before May this year, and the takeaway business on the Douyin platform will be launched in the third quarter. (Securities Times e-company)

8. Tuniu will release its fourth quarter and full-year financial results for 2022 before the market trading on March 17

March 10th news, China's online leisure and tourism company Tuniu recently announced that it plans to release unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022 before the market opening on March 17, 2023. Tuniu management will hold an earnings conference call at 8 a.m. Eastern Time on March 17, 2023. (Tuniu)

Cross-border newsletter

9. News Shopee, a subsidiary of Donghai Group, lays off nearly 500 employees

According to people familiar with the matter, Singapore Donghai Group is laying off employees in its Indonesian e-commerce subsidiary Shopee, according to people familiar with the matter. A few days ago, the company announced its first unexpected profitability in the fourth quarter of last year, but mainly from cost cuts. A person who knows directly about the matter revealed that the latest layoffs will affect less than 500 full-time employees and contract workers in Shopee's Indonesian customer service team. Due to the confidentiality of the information, this person requested not to be named. The affected employees were notified Thursday, the person said. (Global Market Report)

10. TikTok Shop launches its first platform event at the beginning of the year, “Spring and Summer Renewal Promotion”

On March 10, TikTok Shop launched its first platform event for the first year - a spring and summer renewal promotion. This platform will link up the promotion resources of six countries in the UK, Malaysia, Singapore, the Philippines, Thailand and Vietnam to promote the growth of cross-border merchants' business. Southeast Asia market activities are from March 24, 2023 to April 4, 2023. Merchants and experts complete the GMV target according to the prescribed sessions, and the platform will give the platform incentive rights such as traffic/coupons/dissemination resource positions. Cross-border high-quality products shortlisted for the alliance will receive cooperation opportunities for local leading experts to bring goods, as well as traffic and goods subsidies; local experts will also receive additional commission subsidies. (TikTok Shop cross-border e-commerce)