#Laogao E-commerce Newsletter# [March 21 E-commerce Morning News]

Morning information:

1. Pinduoduo CEO Chen Lei: Will continue to increase subsidies;

2. Chen Qi, the founder of Mogujie, stepped down as CEO, and Yiming Fan took over;

3. Xiaohongshu has cleaned up 1,441 unfriendly remarks in the past week;

4. Amazon announced that it would lay off more than 9,000 employees and the cloud computing and advertising department would be affected;

5. Shopee is the first choice online shopping paradise for the Z generation in Indonesia, and Tokopedia ranks second...

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

E-commerce newsletter

1. Pinduoduo executives interpret financial report: Benefits of healthy competition for consumers and the entire e-commerce industry

According to March 21, Pinduoduo recently released its fourth quarter and full-year financial report for 2022 ended on December 31. After the financial report was released, Pinduoduo Chairman and CEO Chen Lei and Vice President of Finance Liu Jun attended the subsequent financial report conference call to interpret the key points of the financial report and answer questions from analysts. Chen Lei said that every company will formulate different strategies in competition, and we believe that healthy competition is beneficial to consumers and the entire industry. But sometimes as the competition becomes more intense, there will be different degrees of alienation. (Sina Technology)

2. Pinduoduo CEO Chen Lei: Will continue to increase subsidies

On March 20, at the conference call after the release of Pinduoduo's financial report, Chen Lei, Chairman and CEO of Pinduoduo Group, said, "In the fourth quarter, we saw the return and release of consumer demand. We have increased the inclusiveness of platform subsidies, and are also very happy to contribute to the platform's strength in boosting consumer confidence. We will continue to invest to better meet consumers' dual expectations for quality and price." The financial report shows that Pinduoduo's revenue in the fourth quarter of 2022 was 39.8 billion yuan, a year-on-year increase of 46%. The annual revenue in 2022 was 130.6 billion yuan, a year-on-year increase of 39%. (Cailianshe)

3. JD Supermarket releases the 2023 Online Industrial Belt Agricultural Products Consumption Report

On March 20, during the Healthy Life Festival held by JD Supermarket, JD Supermarket and JD Consumer and Industrial Development Research Institute released the "2023 Online Industrial Belt Agricultural Products Consumption Report" for the first time. At the same time, the report shows that the current online industrial belt agricultural product consumption shows six other major trends, with rice, seafood and tea becoming three major online consumption categories; the sales scale of agricultural product in the southern region soaring. (China Radio and Television)

4. Xiaohongshu has cleaned up 1,441 unfriendly remarks in the past week.

On March 20, Xiaohongshu released the "Governance Announcement on the Governance of Cyber ​​Violences". The announcement shows that Xiaohongshu actively implemented the requirements of the Central Cyberspace Affairs Office's "Notice on Effectively Strengthening the Governance of Cyberspace Violence" and resolutely cracked down on behaviors involving cyber violence, insults and insults, privacy leakage, etc. In the past week, the platform has intercepted more than 10,000 unfriendly remarks suspected of online violence, cleaned up 1,441 unfriendly remarks suspected of online violence, and punished accounts that repeatedly published unfriendly and personal attacks, such as disposing of accounts "Crack Cats" and so on. (Potato Butler)

Internet news

5. Rushman Narasinghan officially serves as CEO of Starbucks

On March 20, Starbucks officially announced that from now on, Rashman Narasinghan will officially serve as CEO and will join the company's board of directors. Narasinghan was appointed as the company's new CEO on September 1, 2022, replacing the company's founder and current CEO Howard Schultz. Narasinghan will also host Starbucks' annual shareholders' meeting this Thursday, his first public speech since he became CEO. (Starbucks)

6. Popular Chinese stocks rose and fell on Monday

According to reports on March 21, popular Chinese stocks closed in a mixed manner on Monday. At the same time, Haichuan Securities fell by more than 19%, Yidian fell by more than 18%, Hesai Technology and Dingdong Maicai fell by more than 15%, Pinduoduo fell by more than 14%, Lixiang Education fell by more than 13%, Jinyang Education fell by more than 12%, Juhao Mall, Jiuzi New Energy, Tuanche, and Boqi Pet fell by more than 11%, Daily Youxian, Quhuo, and Thunder fell by more than 10%, Shangmao Technology, Baosheng Technology, Yankong Technology, and Niu Electric fell by more than 9%, Xinyang, Tuniu, Yixian E-commerce, and e-home Quick Service fell by more than 8%. (Global Market Report)

7. Chen Qi, the founder of Mogujie, stepped down as CEO and Yiming Fan took over

The director announced the appointment of Yiming Fan as the company's new CEO, effective March 17. The announcement shows that Yiming Fan graduated from Jiangsu Normal University's advertising major. Before joining Mogujie, he worked for an advertising company for 5 years, which is a member of the American Advertising Agency Association. At the same time, Yiming Fan serves as a visiting professor at Soochow University and serves as the final review committee for various international marketing communication awards. (Tencent News)

Cross-border newsletter

8. Italy's latest mainstream e-commerce ranking is released, and Amazon is the first

According to the Italian e-commerce website ranking recently released by market research company Casaleggio Associati, Amazon was the most visited e-commerce website in Italy in March. Data shows that Amazon ranked first in March with more than 61.79 million visits. Following closely behind is eBay, with about 18.54 million visits. Subito ranked third, with 18.51 million visits. Other top ten e-commerce websites are Booking.com, Samsung, Leroy Merlin, TicketOne, Ikea, Trenitalia and UniEuro. (Yien.com)

9. Shopee is the first choice online shopping paradise for the Z generation in Indonesia, and Tokopedia ranks second

In a Marketeers survey conducted by 1,222 Gen Z online votes: Gen Z's preferred online shopping destination is Shopee. The e-commerce platform has developed a variety of products and features to meet the needs and desires of Generation Z online shopping. These products include Shopee Live, Shopee Games, Shopee Mall, ShopeePay and Shopee Guarantee. Tokopedia is the second online shopping destination voted, and Blibli ranks third. Instagram successfully became the first choice for Generation Z in the online voting for Marketers Youth Choice Award (YCA) 2023. TikTok ranks second. YouTube ranks third. (ENECNEWS)

10. Amazon announced that more than 9,000 employees will be laid off. Cloud computing and advertising departments will be affected.

According to reports on March 21, Amazon CEO Andy Jassie recently stated in a memo to employees that Amazon will further lay off more than 9,000 employees in the next few weeks. The layoffs were conducted on the basis of the previously announced major layoffs. In November last year, Amazon announced the layoffs of more than 18,000 employees, which lasted until January this year. Jassie said in the memo that the latest round of layoffs will mainly affect Amazon's cloud computing, human resources, advertising and Twitch live broadcast business units. (Sina Technology)