In the second week of June (June 8-June 14), what are the things in various e-commerce fields? The following is a review of the latest developments in digital retail, digital life, cross-border e-commerce and industrial digitalization, and logistics technology this week.
【Quick Facts】
1. Pinduoduo will rectify low-price drainage of illegal goods
2. Jingdong was fined 50,000 yuan for the Spring Festival Gala excess jackpot suspected of improper prize sales
3. Douyin's short video mounting store function will be offline from June 20
4. FedEx will lay off 2,000 jobs in Europe
5. Temu was officially launched in Brazil
6. "Fresh at sea" submitted to the Hong Kong Stock Exchange
7. Dida Travel passed the hearing of the Hong Kong Stock Exchange, and Hillhouse, Ctrip, JD.com, etc. are shareholders
1. Digital retail
Tmall Premium 618: 11 brands exceed 100 million
On June 8, Tmall Premium released a battle report, as of June 3, Tmall Premium showed a strong growth momentum in this year's 618 Shopping Festival, with a year-on-year sales growth rate of more than 20%. Among the many participating brands, 11 brands, including Midea, Haier, Gree, Hisense, Little Swan, TCL and Boss, have a GMV of more than 100 million yuan. At the same time, more than 30 brands, including Dyson, Commander, Wanhe, and Konka, also have a GMV of more than 10 million.
What is worth buying, the "Interest Day" activity was officially launched during the 618 period
On June 12th, during the 618 promotion, what is worth buying was officially launched on the "Interest Day" activity. From June 2 to 14, the platform launched interest days with different themes such as digital, sports, and pets every day, combining the rhythm of big promotions with interest consumption to meet consumers' one-stop shopping needs.
Taobao Tmall 618 launched the "marketing hosting" product
On June 13, it was reported that Taobao Tmall recently launched a blockbuster marketing product that "reaches a deal first and then pays marketing promotion fees": marketing hosting. The product is launched by the Alimama brand Xinxiang team, and the merchant only needs to pay the corresponding marketing fee after the order transaction is completed. At present, 400,000 merchants can sign up to participate in the internal testing of products.
The order volume of Xiaohongshu e-commerce 618 live broadcast room has reached 5.4 times that of the same period last year
On June 12, Xiaohongshu e-commerce held a 618 media exchange meeting to announce the stage data during the 618 period and explain some new changes. According to the data, as of June 10, the number of orders for Xiaohongshu e-commerce 618 was 3 times that of the same period last year, and the number of orders in the live broadcast room was 5.4 times that of the same period last year. Among them, the number of buyers who exceeded one million in a single game on Xiaohongshu was three times that of the same period last year, the number of buyers with a GMV increase of more than 100% was 2.8 times that of the same period last year, and the number of store broadcasts with sales of more than 100,000 in a single game was four times that of the same period last year.
Jingdong 618 Happy Night Award Official Announcement: 21 cars for Altay Suite Villa
On June 12, Jingdong announced that at 19:30 on June 17, "Jingdong 618 Happy Night" jointly organized by Hunan Satellite TV, Mango TV, and Jingdong will be broadcast live on Hunan Satellite TV, Mango TV, and Jingdong APP. There will be a grand shake-up event, where participants will have the opportunity to take away an Altay villa, a car and thousands of physical gifts for a penny. In addition, there will be 1 billion red envelopes for everyone to share.
Yuanwang Technology released the 618 consumption report: a total of 153 anchors participated in this year's 618 promotion
On June 12, Yuanwang Technology released the "618 Consumption Report". Up to now, a total of 153 anchors have participated in this year's 618 promotion, with a total of nearly 40,000 products connecting with consumers in these 20 days, and the overall live broadcast duration has reached 8,113 hours.
Pinduoduo will rectify low-price drainage of illegal goods
On June 11, Pinduoduo will soon open rectification for low-price drainage and illegal goods, and take a variety of punishment measures including removal from the shelves, search and downgrading, and sales ban. Low-price drainage refers to the behavior of merchants setting one or more non-compliant low-price SKUs in a product and displaying the price of the low-price SKU on the front-end, but it does not match the actual product image and title description, so as to deceive consumers to click.
The "Taobao "Hourly Delivery" Service Specification has been upgraded to support sellers to provide better near-field retail services
On June 6, in order to improve the logistics arrival experience of buyers, on the basis of meeting the seller's "intra-city delivery" hourly delivery needs, Taobao added logistics and distribution capacity to support sellers to provide better near-field retail services. After the seller activates the service and sets up the product, the corresponding service logo can be displayed on the product detail page, "Hourly Delivery" channel, etc., to enhance the market competitiveness of the product, and the seller must provide service performance as required.
Taobao internal test of the new version of the experience sub-system Merchant services are directly linked to traffic
On June 11, Taobao is fully implementing a new scoring system - "Store Experience Score" and "Product Experience Index" to replace the previous DSR. Taobao also fully applies the experience points to store business scenarios such as mobile Tao search, guess what you like on the homepage, Alimama related advertising, and event registration in the internal test.
Taobao clarifies that the random lottery nature blind box is not allowed to be released
On June 12, Taobao will change the terms of blind box/lucky bag products in the "Taobao Platform Prohibited Information Management Rules". The rule change was announced on June 7, 2024 and will take effect on June 14, 2024. The main changes to the rules are: new ways to deal with the particularly serious circumstances of the release of illegal blind boxes/lucky bags; It is clear that the blind box of random lottery is not allowed to be published on Taobao.
Jingdong was fined 50,000 yuan for the Spring Festival Gala excess jackpot suspected of improper prize sales
On June 14, it was reported that the Chongqing Banan Market Supervision Bureau concluded its investigation into the suspected improper prize sales case of Chongqing Jingdong Haijia E-commerce Co., Ltd., and the latter was fined 50,000 yuan. The cause of the incident is that the right to use the prizes provided by Jingdong in the interactive session of the Spring Festival Gala at the beginning of this year, such as M9 cars, Yangzhou single-family mansions, and Beidaihe theme apartments, is equivalent to the market price, which exceeds the requirements of the operators in the relevant regulations to carry out prize sales, and the maximum amount/market price shall not exceed 50,000 yuan, and was fined 50,000 yuan by the regulatory authorities. In this regard, the network economic agency asked Jingdong for verification, but the other party did not respond for the time being.
Tmall luxury products officially launched the trade-in service
On June 13, Tmall Luxury officially launched the trade-in service, where consumers can submit pictures and information of their idle luxury products online at the official flagship store of Tmall of more than 100 luxury brands, and the service provider will complete the recycling after valuation. It is worth noting that during this year's Tmall 618 period, the platform subsidy for trade-in reached up to 960 yuan, which can be directly used to buy new products on Tmall.
Douyin's short video mounting store function will be offline from June 20
On June 5, the Douyin e-commerce operation team issued a notice saying that due to the adjustment of the platform function, the function of short video mounting stores will be gradually offline from June 20, 2024. After the feature is discontinued, users will not be able to use the function of attaching a store when publishing a short video. For short videos that have been published by users and have a store, the store entrance will be offline at the same time (for videos that have been published for more than 30 days), but there will be no other impact on the videos posted by users.
Dong Yuhui: To this day, I don't enjoy live streaming and I am disgusted to be called an "Internet celebrity"
On June 9, in the outdoor radio station "I Love Me, It's Great", Dong Yuhui responded to his views on the title of "Internet celebrity". Dong Yuhui said that he was very disgusted with these two words and was very disgusted. Dong Yuhui said frankly in the show, "I am very resistant to selling things, seek truth from facts, I don't enjoy this job to this day", although I feel that my work is supportive, but there is no joy, "It may be essentially due to my previous personality and past career."
Douyin focuses on cracking down on rumor-mongering, invasion of privacy and other trolls, and has punished more than 1.33 million accounts
On June 7, Douyin issued the "Announcement on Cracking Down on Online Water Army Rumors, Invasion of Privacy, Vulgar Diversion and Other Behaviors", stating that since May 2024, the platform has cleaned up more than 10,000 illegal videos, disposed of an average of 3 million illegal comments per day, and punished more than 1.33 million accounts.
In 2023, the order volume of Kuaishou's agricultural products will exceed 1.36 billion, a year-on-year increase of 56%
On June 7, the "Kuaishou 2023 Corporate Social Responsibility Report" was released. Data shows that by the end of 2023, Kuaishou will drive 40.22 million jobs. Among them, 22.44 million jobs were directly driven by the Kuaishou platform, 5.6 million were driven by the content ecology, and 12.18 million were driven by the e-commerce ecosystem. In 2023, the order volume of Kuaishou's agricultural products will exceed 1.36 billion, a year-on-year increase of 56%.
The video account intends to prohibit digital people from live streaming
On June 13, Tencent recently solicited opinions on revising the "Implementation Rules for the Release of Low-quality Content by Channels Showcase Talents". In this revision, Channels changes the content of "idle recording" to "non-real live broadcast", which is officially defined as the use of non-real-time live content or props in place of real live broadcast during live broadcast.
Yuanwang Technology's anchor Yu Dagongzi announced his withdrawal from Kuaishou
On June 10, Yu Dagongzi, who has more than 40 million fans in Kuaishou, suddenly announced his withdrawal from Kuaishou live broadcast. Prince Yu sent a farewell letter on his Kuaishou account. In the letter, Prince Yu first expressed his reluctance to all the "Yu family" and thanked the fans for their companionship and support, and then he said that leaving was something he had made up his mind.
Yu Minhong, Dong Yuhui combined live broadcast "Walking with Hui" live broadcast room, with a GMV of more than 10 million yuan on the same day
On June 13, Yu Minhong, the founder of New Oriental, appeared in the live broadcast room of "Walking with Hui" and conducted a live broadcast of Shanxi cultural tourism with Dong Yuhui. Soon after the broadcast, the number of people in the live broadcast room of "Walking with Hui" exceeded 100,000, and at the same time ranked third on the Douyin list. Gray Dolphin data shows that the GMV (total sales) of the live broadcast with Hui on the day was 10 million yuan to 25 million yuan, and the total number of viewers was about 10.81 million. On June 12, the total amount of goods carried by Walk with Hui on the first day of the trip to Shanxi was 50 million yuan to 75 million yuan, ranking first on the daily list of Douyin with goods, while the total amount of goods selected by Dongfang was 2.5 million yuan - 5 million yuan.
Yunji's revenue in the first quarter was 127.9 million yuan, a year-on-year decrease of 28.47%
On June 11, select e-commerce platforms announced their unaudited financial results for the first quarter of fiscal 2024 ended March 31, 2024. In the quarter, Yunji achieved total revenue of RMB127.9 million, compared to RMB178.7 million in the same period in 2023, a year-on-year decrease of 28.47%. Net profit was RMB3.9 million, compared to a net loss of RMB22.9 million for the same period in 2023. Adjusted net profit (non-GAAP) was RMB3.0 million, compared to an adjusted net loss (non-GAAP) of RMB27.2 million for the same period in 2023.
Net Economic Society: The "2023 China Online Retail Market Data Report" was released
On June 13, the "Belt and Road" TOP10 influential social think tank Network Economic and Social E-commerce Research Center and the Digital Retail Station routinely released the "2023 China Online Retail Market Data Report", which has been released for 12 consecutive years. This report is compiled based on the "Dianshubao" e-commerce big database of the Network Economic Society.
The Beijing Compliance Guidelines for Live Streaming (Draft for Comments) were released: consumers must not be misled with the "lowest price on the whole network".
On June 7, the Beijing Municipal Bureau of Market Regulation drafted the "Beijing Live Streaming Compliance Guidelines (Draft for Comments)" to solicit public opinions. The Consultation Paper proposes that livestreaming practitioners shall not publish health food advertisements in disguised form in the form of introducing health and wellness knowledge, nor shall they mislead consumers with false statements such as "the lowest price on the whole network". In addition, in addition to the relevant norms for live streaming personnel, the avatars synthesized using artificial intelligence technology must also refer to the compliance requirements.
Ant Digital, a subsidiary of Ant Group, operates independently and has completed a capital increase of 2 billion
On June 13, Ant Digital, the technology commercialization arm of Ant Group, has been operating independently, and its main body, AntChain (Shanghai) Digital Technology Co., Ltd., has completed a capital increase of 2 billion.
2. Digital life
T3 travel: Dragon Boat Festival taxi call volume increased by 54.77% year-on-year
On June 14, it was reported that the Dragon Boat Festival happened to meet the college entrance examination, and this year's travel data for the small and long holidays hit a new high. According to T3 travel big data, from June 8 to June 10, the number of taxi travel calls increased by 54.77% year-on-year, and the number of taxi travel calls reached a peak on the day of the Dragon Boat Festival, an increase of 55.1% year-on-year.
Inner Mongolia promotes the pilot of "patrol network integration" of taxis, and the innovative model helps the industry upgrade
Recently, the seminar on "New Quality Productivity Leading Smart New Taxi" hosted by the Inner Mongolia Road Transport Association was held in Hohhot. At the seminar, the leaders and experts at the meeting carried out serious discussions on the pilot situation of the pilot cities of patrol network integration, the cost reduction and efficiency increase of cruise taxis, the patrol network integration policy and the aggregation platform policy, and the acceleration of the integration of taxi patrol network development.
Tick Chuxing passed the hearing of the Hong Kong Stock Exchange, and Hillhouse, Ctrip, JD.com, etc. are shareholders
On June 12, Dida Inc. (hereinafter referred to as "Dida Chuxing") passed the listing hearing on the main board of the Hong Kong Stock Exchange, with CICC (601995), Haitong International and Nomura International as its joint sponsors. In terms of shareholdings, before the IPO, the five co-founders of Song Zhongjie, Li Jinlong, Zhu Min, Duan Jianbo and Li Yuejun held 33.57% of the company through 5brothers Limited and were the major shareholders; Major shareholders also include NIO Capital, BitAuto, IDG Capital, Hillhouse Capital, Ctrip, JD.com, etc.
Xiangdao Travel: The demand for online car-hailing travel during the Dragon Boat Festival holiday increased by 52.02% year-on-year
On June 11, the Data Research Institute of Xiangdao Travel, a subsidiary of SAIC's mobile travel strategic brand, released a travel data report on the Dragon Boat Festival holiday today, showing that during this year's Dragon Boat Festival holiday (June 8 to 10), the demand for online car-hailing travel across the country is high, and the popularity of summer vacation, parent-child travel, and cultural tourism continues to rise. According to data from the Xiangdao Travel Data Research Institute, this year's Dragon Boat Festival holiday increased by 52.02% year-on-year compared with last year's Dragon Boat Festival (June 22-24, 2023); This is an increase of 9.71% compared to the end of last week (June 1-3, 2024).
Didi: The number of hitchhiking orders during the Dragon Boat Festival holiday increased by more than 100% year-on-year
On June 11, during the Dragon Boat Festival holiday just past, the Didi Chuxing platform once again ushered in a busy travel peak. According to the data, compared with weekdays, the demand for travel during the Dragon Boat Festival has increased significantly, especially around popular tourist cities and scenic spots. During the Dragon Boat Festival holiday, the number of low-carbon and affordable Didi hitchhiker travel orders increased by more than 100% year-on-year, and the number of hitchhiker owners released along the way increased by 130% year-on-year.
Ctrip: During the European Cup, the number of searches related to Germany increased by 3% month-on-month
Euro 2024 will be held from June 14 to July 14 local time in 10 cities including Berlin and Munich, attracting fans from all over the world to Germany to watch the game. Major OTA platforms show a significant increase in travel bookings in Europe. In the past week, on the Ctrip platform, the number of Europe-related searches increased by 4% compared with the previous week, and the number of Germany-related searches increased by 3% compared with the previous week.
Qunar: Hotel bookings in Germany during the European Championship increased by 1.5 times year-on-year
On June 14, it was reported that the quadrennial European Cup will officially kick off in Munich, Germany on June 15, and the first game will be the host Germany vs. Scotland. Qunar data shows that since June, the search popularity in Germany has increased by three times compared with May. During this year's European Championship (15-14 July), international air bookings to Germany doubled compared to the same period last year, while hotel bookings in Germany increased by 1.5 times year-on-year, and prices increased by 25%.
Same-trip travel: German group tour bookings during the European Cup increased by 347% year-on-year
On June 14, it was reported that the quadrennial European Cup will officially kick off in Munich, Germany on June 15, and the first game will be the host Germany vs. Scotland. Tongcheng Travel data shows that since the start of the European Cup, the booking popularity of domestic e-sports hotels has increased by 310%, and the popularity of domestic air tickets, hotels and vacation products to Germany has also soared across the board, among which the products with higher increases are mainly from the cities where the European Cup is held.
Singapore Tourism Board and Mafengwo have reached a strategic cooperation AI travel assistant debut
On 11 June, the Singapore Tourism Board (STB) and Mafengwo held a strategic cooperation conference in Beijing, further deepening cooperation in marketing, data, IP and industry. Mafengwo's new AI travel assistant was unveiled for the first time at this press conference, and the Singapore Tourism Board will be Mafengwo's first overseas destination AI partner, with the blessing of technology, to help more tourists enjoy the "Lion City Tour" efficiently and conveniently.
Fliggy: The number of overseas car rental bookings for the Dragon Boat Festival increased by more than 2 times year-on-year
On June 10, Fliggy released the "2024 Dragon Boat Festival Holiday Travel Express". According to the data, during this year's Dragon Boat Festival, the per capita booking volume and per capita consumption amount of domestic tourists both increased year-on-year, indicating that the trend of consumers pursuing experience richness is more obvious. Fliggy's data shows that Fliggy's Dragon Boat Festival overseas car rental bookings have increased by more than 2 times year-on-year.
Tuniu: Local tours and peripheral tours account for nearly half of the Dragon Boat Festival holiday
On June 11, it was reported that during the Dragon Boat Festival holiday, the tourism market set off a wave of "new Chinese" travel, and tourism products such as folk customs experience, national tide exploration, ancient town roaming, and cultural and museum visits were particularly eye-catching. According to Tuniu's "2024 Dragon Boat Festival Travel Consumption Inventory", there is a significant demand for local and peripheral tours during the Dragon Boat Festival, and self-driving tours, high-speed rail tours, and independent travel have become the mainstream choices. This year's Dragon Boat Festival holiday coincides with the college entrance examination period and is approaching the end of the semester, so local tours and peripheral tours have become the preferred plan for more tourists, accounting for 49% of the total number of trips.
Ctrip: Dragon Boat Festival inbound tourism increased by 115% year-on-year
On June 10, Ctrip released the "2024 Dragon Boat Festival Travel Report", which shows that this year's Dragon Boat Festival peripheral travel and local travel are once again popular; The number of domestic and outbound tourists has increased accordingly compared with last year; Traditional folk customs attracted more foreign tourists to experience, and the number of bookings for inbound tours during the Dragon Boat Festival increased by 115% year-on-year.
Tongcheng: Travel bookings in third- and fourth-tier cities during the Dragon Boat Festival increased by more than 100% year-on-year
On June 10, Tongcheng Travel released the "2024 Dragon Boat Festival Holiday Travel Consumption Report" (hereinafter referred to as the "Report"). The report shows that during the Dragon Boat Festival holiday in 2024, China's cultural tourism consumer market will maintain a growth trend on the basis of last year's high operation. Third- and fourth-tier cities with few people and high cost-effectiveness are popular with tourists, and the popularity of travel bookings in many popular third- and fourth-tier cities in China has more than doubled year-on-year.
3. Cross-border e-commerce
Temu is officially launched in Brazil
On June 11, Temu went live in Brazil, offering consumers up to 90% discounts on shopping prices and free door-to-door shipping. To celebrate its official launch in Brazil, Temu is also giving out three different coupons: a 9% discount on purchases of R$175, a 14% discount on purchases of R$250 and a 13% discount on purchases of R$400.
TikTok has launched a new SOP operation mode
On June 12, TikTok TikTok Shop launched a copy-and-paste business model to achieve a standardized operating process (SOP), which is based on the brand, supply chain and user needs, and selects the appropriate platform layout, not only focusing on sales, but also considering the high customer unit price market.
Shein and Temu's purchase tax in South Africa will be significantly higher
On June 12, the South African government introduced new rules. From July 1, 2024, foreign e-commerce clothing retailers such as Shein and Temu will be subject to 45% import duties and 15% VAT. Previously, under the so-called "de minimum" rules, South African Shein and Temu clothing buyers could smoothly pass packages with a value of less than R500 through customs by paying only 20% import duty and 0% VAT.
DHgate is expected to assess the logistics performance of merchants from July
On June 13, Dunhuang announced that the platform is expected to start assessing the logistics performance behavior of merchants in July, governing abnormal performance behaviors, ensuring the service quality of merchants, and making every effort to improve customer satisfaction.
TikTok Thailand had a total sales of 16 billion baht in May
On June 13, the total sales of TikTok Thailand in May reached 16 billion baht, with an average daily sales of 517 million baht, an increase of 9.88% month-on-month. Previously, FostMoss data showed that TikTok Shop's Thailand station grew rapidly, and the single-day GMV surpassed the Indonesian station for the first time, exceeding 20 million US dollars.
TikTok Shop 越南站要求卖家提交税码
On June 13, all sellers on TikTok Shop Vietnam must submit or verify their tax codes by July 1, 2024, including those who have previously submitted their tax codes. According to Vietnam's Law on the Protection of Consumer Rights (LPCR) and related regulations, e-commerce platforms are required to collect and verify sellers' tax codes.
ByteDance will lay off about 450 employees in Indonesia's e-commerce division
On June 14, it was reported that ByteDance would lay off about 450 employees in Indonesia's e-commerce division, the first and largest round of layoffs since TikTok Shop's merger with local rival Tokopedia. According to people familiar with the matter, the layoffs will begin as soon as this month, accounting for about 9% of the department's total workforce. The final number of layoffs is still under discussion and is subject to change. ByteDance declined to comment on the matter.
AliExpress: Sales of football supplies during the European Cup increased by 80% year-on-year
On June 14, in order to welcome the mid-year promotion of e-commerce in June and the cross-border shopping boom brought by the European Cup, AliExpress and Cainiao opened the "European Cup Special Line" to accelerate the realization of "global 5-day delivery" and further shorten the distance between overseas consumers and Made in China.
TikTok signed a memorandum of understanding with the Ministry of Commerce of Thailand
On June 14, Thailand's Ministry of Commerce signed a memorandum of understanding (MOU) with TikTok to promote the development of Thai SMEs in the e-commerce market. Under the MoU, the Ministry of Business Development and TikTok will work together to provide Thai SMEs with opportunities to expand their online sales channels and reach global customers.
eBay will stop accepting American Express payments on August 17
On June 11, eBay issued an official statement saying that eBay decided to stop accepting credit card transactions from American Express as of August 17 because the fees charged by American Express for credit card transactions are unacceptably high. Payment processing costs should have fallen due to technological advancements, investment in fraud capabilities, and customer protection for merchants like eBay, but credit card transaction fees continue unabated due to a lack of meaningful competition.
The number of Chinese sellers on Ozon exceeded 100,000
On June 11, the relevant person in charge of the Russian e-commerce giant Ozon revealed in an interview that by the end of 2023, the number of sellers on the Ozon platform has reached about 500,000, of which more than 100,000 are Chinese sellers, accounting for at least 20%. In addition, the person in charge also pointed out that most of the more than 100,000 Chinese sellers mainly sell electronic products such as mobile phones, computers and video cards.
MEIKEDUO MEXICO HOT SALE SALES EXCEEDED 670 MILLION US DOLLARS
On June 11, the HOT SALE promotion in Mexico came to an end, and the data showed that the sales volume of all categories showed significant growth, especially the outstanding performance of cross-border sellers. According to Meikeduo, on the first day of the promotion, the sales volume of Meikeduo's Mexico site increased by 44% year-on-year; During the sale, sellers generated $670 million in sales.
Wildberries launches express delivery service
On June 13, the Wildberries app launched a new courier feature in Moscow, offering ultra-fast delivery. Operated by Darkstore at Home, this feature ensures that orders are collected and packed within 5-7 minutes of receipt and delivered to customers within 1-4 hours.
In the first half of 2024, the search volume of e-commerce in Brazil ranked first
On June 13, in the first half of 2024, the Latin American e-commerce platform Mercado Libre topped the Google search volume in Brazil. The data shows that Meikeduo continues to attract consumers with promotional activities such as coupons.
New warehouses in Africa will be opened in both African countries
On June 14, Jumia officially announced that it will open two new integrated warehousing facilities in Nigeria and Morocco, aiming to enhance its logistics capabilities and bring consumers a more efficient shopping experience. The two new warehouses will be located in Lagos, Nigeria, and Casablanca, Morocco, covering an area of 30,000 square meters and 5,000 square meters, respectively.
eBay: Sales increased by 400% during the European Cup
On June 14, in the past month, the number of star card impressions of cards related to European football matches on the eBay platform has grown rapidly, and the number of card impressions published by Chinese sellers has reached millions of times, achieving double-digit rapid growth. At the same time, sales also posted strong double-digit growth.
Amazon has added 3 new exemption policies for low-volume inventory fees
On June 14, a few days ago, Amazon made 3 additional changes to the low-volume inventory fee, applicable to the United States, Germany, France, Italy, and Spain. Slow-moving exemption: From May 15th: U.S. station: FNSKU will be exempted from low-volume inventory fees for products with sales of less than 20 units in the last 7 days.
Shopee Philippines launched the buyer's in-transit return/refund function
On June 14, Shopee Philippines Station issued a document stating that from June 10, 2024, buyers can apply for returns/refunds in transit due to changes of mind. The return/refund in transit feature allows customers to request returns/refunds for orders that have been shipped but have not yet been delivered; Once the application is approved, the order will be returned to the seller.
"Xinghui Shares" won the first instance and rejected 26.8 million claims
On June 11, Xinghui Precision recently announced that it had received the "Civil Judgment" issued by the People's Court of Longhua District, Shenzhen, Guangdong Province, which showed that Xinghui and its subsidiary Zebao Technology won a preliminary victory in a contract dispute case with the plaintiff Sun Caijin and other 6 people.
According to the news, SHEIN's sales increased by 40% last year
On June 11, it was reported that Shein's sales reached $32.2 billion last year, up 40%, compared with a 37% growth rate in 2022, despite increasing competition from Chinese retailer Temu. This level of sales allows it to surpass its two major European fast fashion competitors, Zara and H&M.
SHEIN raised the prices of some core products by more than one-third
On June 14, it was reported that fast fashion retailer SHEIN has raised the prices of some core products in multiple markets by more than a third, a price adjustment that industry insiders expect as a strategy for SHEIN to drive revenue and earnings growth ahead of its initial public offering (IPO), thereby driving up IPO valuations.
FedEx will lay off 2,000 jobs in Europe
On June 13, FedEx announced a plan to lay off employees in Europe, which is expected to take place within 18 months. The planned layoffs will affect between 1,700 and 2,000 employees in Europe, in back-office and commercial functions. FedEx expects the program to save the company between $125 million and $175 million annually starting in fiscal 2027.
PingPong滨江全球总部启用
On June 14, PingPong's Binjiang global headquarters was officially opened, marking a new stage of development for PingPong as a global leader in the field of cross-border payment, and the company's cumulative cross-border capital transactions have exceeded 1.5 trillion yuan so far.
Lianlian Digital obtained the EMI license in Luxembourg
On June 14, the layout of Lianlian license plate went to the next city. On May 27, Lianlian Digital announced that it had obtained an EMI (i.e. electronic money institution) license issued by the Luxembourg Financial Industry Supervision Commission. With the EMI license, LianLian Digital can carry out more types of business activities in the entire European market.
The global e-commerce market is expected to reach $7 trillion in retail sales by 2028
On June 7, Forrester, an international authoritative research institution, released a new forecast data, which shows that by 2028, global online retail sales are expected to reach a staggering $6.8 trillion, compared with $4.4 trillion in 2023, a growth rate of 54%, with an average annual compound growth rate of 8.9%.
In Q1 2024, the sales volume of the French e-commerce market increased by 7.5% year-on-year
On June 11, according to foreign media reports, in the first quarter of 2024, the sales of the French e-commerce market increased by 7.5% year-on-year to 42.2 billion euros. It is understood that Fevad, the French e-commerce sales federation, released the latest data on the French e-commerce industry. According to the data, the volume of e-commerce transactions in France in the first quarter was 605 million, compared with 578 million in the first quarter of 2023, a year-on-year increase of 4.7%.
9 departments including the Ministry of Commerce: issued the "Opinions on Expanding Cross-border E-commerce Exports and Promoting the Construction of Overseas Warehouses"
On June 12, the Ministry of Commerce and other 9 departments issued the "Opinions on Expanding Cross-border E-commerce Exports and Promoting the Construction of Overseas Warehouses". The "Opinions" include five parts: actively cultivating cross-border e-commerce business entities, increasing financial support, strengthening the construction of relevant infrastructure and logistics systems, optimizing supervision and services, and actively carrying out the construction of standards and rules and international cooperation.
Alashankou's export cross-border e-commerce packages exceeded 10 million
On June 13, Alashankou relied on the location advantages of the port and the superposition of the policies of the comprehensive bonded zone to further improve the level of customs clearance facilitation and promote the vigorous development of cross-border e-commerce trade. As of June 9, a total of 12,241,600 parcels had been exported, of which 11,881,700 were exported through the "9610" mode and 359,900 were exported under the "9710" mode, with a value of about 1.804 billion yuan, a year-on-year increase of 14.03%.
Mexican customs will inspect packages with a value of less than 2,500 pesos
On June 13, Mexico's Ministry of Economy (SE) was preparing an agreement that would force customs to conduct an audit of packages worth less than 2,500 pesos to verify that they comply with Mexico's official commercial information standards. So far, these packages have been exempt from this type of verification.
Russia will launch digital cross-border payments in 2025
On June 14, Russia plans to use the digital ruble for cross-border payments for the first time in the second half of 2025. According to state representatives, these transactions may involve China or Belarus. They mentioned that China has made progress with the digital yuan, making it a potential partner for digital currency settlements with Russia.
Fourth, industrial digitalization
1688 Response Refund Only Feature: There is no upper limit on the refund amount
On June 12, some netizens recently posted a message saying that "there is no upper limit on the refund amount of 1688 only for the refund function", and the official Weibo of the 1688 spokesperson responded that the information was untrue. 1688 will conduct a comprehensive analysis based on the buyer's refund reasons, scenarios, past purchase behaviors, as well as the merchant's order fulfillment and past transaction behaviors. The maximum amount of refunds for different orders is different and is not unlimited.
Chinagoods云仓共享直播基地开业
On June 12, the first warehouse-type live broadcast base in Yiwu market was officially opened. In the officially displayed Chinagoods cloud warehouse No. 13 sample warehouse, two large-scale live broadcast rooms are configured, which can accommodate at least 20 anchors to live broadcast at the same time.
The digital fishery service provider "Sea Fresh" submitted to the Hong Kong Stock Exchange
On June 12, "Sea Fresh" submitted a listing application to the Hong Kong Stock Exchange, and the joint sponsors were Guotai Junan International and Dongxing Securities. As a digital fishery service provider in Ningbo, this submission to the Hong Kong Stock Exchange is expected to "sprint to the first share of China's digital fishery services".
Zhenkun Xing's stock price fell sharply and announced a $50 million share repurchase plan
On June 14, the share price of Zhenkun Hong (ZKH), a Chinese MRO industrial product service company listed in the United States, fell 28.40% to $4.110 per share, with a turnover of $7.66 million. On June 12, Zhenkun Bank fell 57.54% to $5.740 per share, with a turnover of $11.27 million, which was the largest decline in Chinese concept stocks on the day. The two-day cumulative decline reached 69.56%.
Heilongjiang has introduced 25 policies and measures
On June 14, the Heilongjiang Provincial Department of Human Resources and Social Security, together with the Organization Department of the Provincial Party Committee, the Provincial Department of Education, the Provincial Department of Industry and Information Technology and other 12 departments, jointly issued the "Several Measures for Heilongjiang Province to Accelerate the Cultivation of Digital Talents and Support the Development of the Digital Economy". Focusing on the cultivation and supply of talents in the digital field, exchanges and cooperation, innovation and entrepreneurship, incentives and guarantees, and other matters, 25 specific measures in six aspects have been introduced.
The Inner Mongolia Digital Economy Promotion Regulations came into force on July 1
On June 14, it was reported that the 10th meeting of the Standing Committee of the 14th People's Congress of the Inner Mongolia Autonomous Region passed the "Regulations on the Promotion of Digital Economy in the Inner Mongolia Autonomous Region" (hereinafter referred to as the "Regulations"), which will come into force on July 1, 2024. It is proposed to promote the co-construction and sharing of major digital infrastructure in Inner Mongolia, the unification of public data standards, the open sharing of public data resources, the coordinated development of intelligent manufacturing, and the collaborative governance of regional integration and the digital application of governance.
Amazon AWS announced a $230 million investment in generative AI startups
On June 14, Amazon AWS announced $230 million to startups around the world to accelerate the creation of generative AI applications. This will provide startups, especially early-stage companies, with AWS credits, mentorship, and training to further the use of AI and machine learning technologies.
Microsoft expands Azure to Oracle Cloud
On June 14, Oracle revealed that Microsoft will expand the Azure AI platform with its cloud service (OCI) to provide additional computing power for OpenAI, "OCI will expand the Azure platform so that OpenAI can continue to scale", which means that the existing Azure cloud services can no longer meet OpenAI's demand for GPUs.
HUAWEI CLOUD's Pangu R&D model passed the first batch of code model evaluation
On June 14, HUAWEI CLOUD officially announced that in the first round of code model evaluation organized by the China Academy of Information and Communications Technology, HUAWEI CLOUD Pangu R&D model received the highest level of 4+, becoming one of the first companies in China to pass the assessment. The HUAWEI CLOUD Pangu R&D model has outstanding performance in terms of R&D scenario richness, and has achieved excellent results in three capability domains: general capabilities, dedicated scenario capabilities, and application maturity.
Fifth, logistics science and technology
In the first week of 618, the number of unmanned delivery orders of JD Logistics building express in Beijing increased by more than 400% year-on-year
On June 11, a week has passed since the opening of JD 618, and consumers' enthusiasm for shopping is high. In Beijing alone, in the first week of 618 this year, the number of unmanned delivery orders of Jingdong Logistics building express increased by more than 4 times year-on-year, and in the past year, the number of unmanned delivery orders of building express delivery in Beijing has exceeded 150,000 orders.
State Post Bureau: During the Dragon Boat Festival holiday, the national postal express industry collected 2.654 billion parcels
On June 11, the monitoring data of the State Post Bureau showed that during the Dragon Boat Festival holiday (June 8-10), the national postal express industry operated smoothly and orderly, with a total of 2.654 billion parcels. Among them, 1.291 billion express parcels were collected, a year-on-year increase of 25.6%; 1.363 billion express parcels were delivered, a year-on-year increase of 15.4%.
JD Express membership system was launched
On June 12th, JD Express launched a membership system, and new users can become JD Express members by registering. JD Express's membership system has set up a total of six levels, namely black iron, bronze, silver, gold, platinum and black gold, the higher the membership level, the more rights and interests you can enjoy.
Cainiao Express: Fresh-keeping service is not a value-added service and should not be charged
On June 14, in response to the question of whether the express should charge a fresh-keeping fee, the relevant person in charge of Cainiao Express responded that the fresh-keeping service should be a basic service, not a value-added service, and should not be charged. Express fresh-keeping service is not an ice pack refrigerant packaging service, but refers to exclusive identification, priority transfer, priority delivery and after-sales, etc., and some companies charge value-added service fees ranging from 3 to 5 yuan according to the delivery distance. Earlier, Cainiao Express said that it had launched the "Fresh Affordable Delivery" service, providing the same service and guaranteeing the same timeliness, but exempting the fresh-keeping fee, which attracted market attention.
Jingdong Logistics (Kashgar) Intelligent Logistics Port started construction The project has a planned annual output value of 30 million yuan
On June 12, Jingdong Logistics (Kashgar) Intelligent Logistics Port Project started construction in Kashgar City, and after the completion of the project, it will become the first large-scale 5G digital integrated logistics park in southern Xinjiang. It is understood that the project is divided into three phases of construction, the first phase of the project started in June and completed in December, realizing the project approval, construction, delivery and operation in the same year. The project plans to have an annual output value of 30 million yuan, and can achieve employment of more than 1,000 people after it is fully completed and put into operation.