#Laogao E-commerce Newsletter# [June 7 E-commerce Morning Newsletter]

Morning information:

1. Douyin e-commerce plans to sell high-end brand beauty products by selling self-operated beauty e-commerce businesses;

2. Kuaishou short videos have supported stores;

3. In 2025, the sales of social e-commerce in the United States will reach US$80 billion;

4. Amazon's Australian site traffic exploded, and sales in 2023 may exceed US$5.5 billion;

5. Spotify lays off 200 employees in its podcast division, but promises to launch new original series;

...

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

E-commerce newsletter

1. Douyin e-commerce layouts self-operated beauty e-commerce business to sell high-end brand beauty products

On June 7, Tech Planet learned that Douyin e-commerce has begun to deploy self-operated beauty e-commerce business. The business was previously called "Meili Xinxuan". During the Douyin 618 Good Products Festival, it was officially renamed Douyin e-commerce self-operated beauty and cosmetics, and opened a self-operated store in the Douyin APP to sell high-end brand beauty products. According to sources, the products are mainly purchased in domestic counters and have complete qualification links. Including the self-operated e-commerce business in the beauty and cosmetics category, Douyin has already laid out 7 self-operated business lines. Sources revealed that new self-operated e-commerce businesses will be added in the future, including luxury categories. (Tech Planet)

2. Douyin Life Service Releases the May Institution Ranking Jinmaizhonghe won the first place on the list

On June 6, Douyin Life Service’s “Monthly Ranking of Institutions” in May 2023 was officially released. Institutions that successfully settle in the Douyin Life Service Institution Platform and pay the deposit can obtain different points by incubating experts of different levels, and sum up the level points of experts bound to the platform. The top 10 institutions will be included in this list. Among them, Jinmai Zhonghe ranked first with 1037 points, representing experts Zhu Zhulai and Brother Ting; Meitu Meishi ranked second with 982 points, representing experts East China Consumer Guide and Naisqunar; Doujinjin ranked third with 748 points, representing experts Disney Travel Recommender and Walking Children on the Road. In addition, the institutions on the list include Juliang, Xiaojia, Miai Technology, Xinghao Media, Hulutuan, Feiyang Media, and Shibei Tuan. (TikTok Life Service Business Observation)

3. Kuaishou short videos have supported stores

According to June 6, Kuaishou Short Video currently supports store listing and can promote and attract traffic to the store. It is understood that Kuaishou short videos could only be listed in a single product. "Short video store hanger" refers to the function of a sales expert in attracting traffic to the store, creating store income or obtaining promotional store commissions by publishing short videos. It should be noted that new short videos must be published before they can be listed in the store, and short videos that have been published cannot be edited and posted in the store again. (Kuaishou Sales Assistant)

4. TikTok "Shaanxi Intangible Cultural Heritage Data Report": 64% of Shaanxi Intangible Cultural Heritage anchors received reward support in the past year

On June 6, Douyin’s “Intangible Cultural Heritage Anchor Salon” was held at the Shaanxi Radio and Television Grand Theater today, and the “Shaanxi Intangible Cultural Heritage Data Report” was released. Data shows that in the past year, 64% of Shaanxi intangible cultural heritage anchors received rewards and support, and the amount and number of likes received increased by 100% and 215% year-on-year. The above five projects are the top 5 places in the local specialty operas to receive rewards. The report shows that as of May 2023, there were more than 570,000 intangible cultural heritage live broadcasts in Shaanxi, and users watched 31.85 million hours. (Titanium Geek)

Internet news

5. Xiaomi Group launches RMB counters to take effect on June 19

On June 7, Xiaomi Group issued an announcement that the newly launched RMB counter of the company will take effect on June 19, 2023. The company's stock code for the company's stock at the RMB counter is "81810", and the shares are abbreviated as "Xiaomi Group-WR". Each unit of the company's Class B common shares at both counters is 200 Class B shares. The company believes that the launch of the new RMB counter will provide shareholders and potential investors with more investment flexibility and stock liquidity. (Xiaomi Group)

6. Didi Chuxing releases the "2023 Hitchhiking Industry Social Value Report"

The report released the social value model of hitchhiking for the first time. According to the Frost-Sullivan report, hitchhiking helps improve urban traffic operation efficiency by increasing the utilization rate of empty seats on the road. As of September 30, 2022, Didi Chuxing helped create a total of 43.4 million unused car seats, equivalent to 4% of the total number of private car seats in China. According to the "Evaluation Report on Greenhouse Gas Emission Reduction of Private Passenger Cars for Private Passenger Cars" issued by China Classification Society Quality Certification Co., Ltd., from 2020 to 2022, the total carbon emission reduction of the city's hitchhiking in the three years was 1529,040.10 tons, and the average annual carbon emission reduction was 509,680.03 tons. (Online car-hailing observation)

7. Spotify lays off 200 jobs in its podcast division, but promises new original series

Spotify announced plans to reform its podcast division through structural reforms, including layoffs of 200 employees, accounting for about 2% of Spotify's total global workforce. To move to the next stage, Spotify said the department's layoffs were "best". Spotify also invested in some popular episodes and signed high-profile deals to attract more listeners. However, Spotify is still counting on a new podcast series. Creators will get podcast analytics tools within Spotify to help increase audience size. As of September 30 last year, Spotify had 9,800 full-time employees. Last year, Spotify said it will also cut hiring for the rest of the year and in 2023. (Whip the Cow)

Cross-border newsletter

8. Amazon's Australian site traffic explodes, and sales may exceed US$5.5 billion in 2023

It is reported that Australian investment and consulting group Jarden expects Amazon's sales in Australia to reach a milestone of $5.5 billion in the next fiscal year, just seven years after the e-commerce giant went live in Australia. This also said that the high subscription rate of Prime membership services could drive further growth in Amazon's turnover in Australia. In addition, it is reported that Amazon has become a "important partner" of local retailers. Amazon also plans to complete the construction of Perth distribution center before the 2023 holiday shopping season. (Yien.com)

9. US social e-commerce sales will reach US$80 billion in 2025

The report stressed that in 2022, the revenue generated by social commerce increased to US$724 billion, with an annual growth rate of 30.8% from 2022 to 2030. Similarly, forecasts confirm that this segment will reach $6.2 trillion by 2030. For its part, social commerce has become a fast-growing segment in the United States, with sales expected to reach $80 billion by 2025, accounting for 5% of the total U.S. e-commerce. The report notes that the best platforms for adopting social commerce are Facebook and Instagram, so it is recommended that brands focus on virtual stores on these two social networks for greater influence and appeal. (ENECNEWS)

10. Lianlian International launches Temu platform (Hong Kong user) payment service

On June 6, in order to help Chinese companies go overseas and break through the North American market, Lianlian International launched the Temu platform (Hong Kong user) collection service. According to reports, Lianlian International (Hong Kong users) can enter the Temu platform through Lianlian to explore the North American market. At the same time, the Temu platform (Hong Kong users) can enjoy Lianlian International's one-stop cross-border payment service from now on. (Lianlian Cross-border)