On November 16th, New Consumer Daily reported that the main content of today's New Consumer Daily includes: the total retail sales of consumer goods in October increased by 7.6% year-on-year; Last year, the total import and export volume between China and APEC members was 3.74 trillion US dollars; The first batch of international e-commerce standards were released globally.
Industry Highlights
Xiaomi Automobile Appears in the Catalogue of the Ministry of Industry and Information Technology
On November 15th, the latest batch of product announcements on the website of the Ministry of Industry and Information Technology featured the closely watched Xiaomi Automobile. According to the public announcement, Xiaomi Motors will launch two power battery versions: BYD's lithium iron phosphate battery and Ningde Times ternary lithium battery. The models will be divided into three versions: SU7, SU7 Pro, and SU7 Max. The high-end models will be equipped with LiDAR, dual motor four-wheel drive, and so on.
According to the public announcement, some industry insiders believe that Xiaomi has borrowed the car manufacturing qualification from BAIC, but is produced by Xiaomi's own factory. In the future, Xiaomi may continue to apply for independent car manufacturing qualifications. According to insiders, Xiaomi Automobile Factory has started small-scale trial production, and the factory will start mass production at the end of this year to prepare for the launch of the model in February next year.
The reporter noticed through searching multiple recruitment software platforms that Xiaomi is opening multiple recruitment positions related to automotive sales. An insider of Xiaomi revealed that "the existing Xiaomi channel will only be one of Xiaomi's sales channels
On Express saw a 46.5% increase in sales in the third quarter
Recently, Swiss sports brand On Sport announced its performance for the third quarter of 2023. Data shows that sales in the third quarter increased by 46.5% year-on-year to 480 million Swiss francs (approximately 540 million US dollars), and net income increased by 184.4% to 58.7 million Swiss francs. Adjusted net profit increased nearly threefold, from 22.3 million Swiss francs to 65.5 million Swiss francs.
From a regional perspective, sales in the Americas increased by 60.5% to 294.9 million Swiss francs; EMEA region increased by 19.9% to 144 million Swiss francs; The Asia Pacific region increased by 71.5% to 41.6 million Swiss francs, due to the continued strong growth of China's own retail store performance (especially during the National Day period) and the continued growth of the Japanese market.
It is reported that this is the seventh consecutive quarterly revenue record of On Express, and it has achieved its highest gross profit margin (59.9%) since its IPO in August 2022. Based on strong performance, Onpao has raised its sales forecast for the entire year of 2023 to 1.79 billion Swiss francs, which means the annual performance growth rate will exceed 46%.
Reebok's parent company is interested in bidding for Champion
According to relevant reports, the brand management group Authentic Brands Group is interested in bidding with companies such as WHP Global, Marquee Brands, and G-III Apparel Group for the brand Champion under Hanes Brands.
Authentic Brands Group is a global brand development, marketing, and entertainment platform with over 50 iconic and world-renowned lifestyle, entertainment, and media brands, with an annual global retail sales of approximately $29 billion. Previously, ABG Group acquired the extreme sports brand group Boardriders in September of this year and acquired Reebok in 2021.
According to previous reports, HanesBrands is evaluating strategic options for selling Champion's global business. Champion's sales for the three quarters of this year have decreased by 12%, 16%, and 19% year-on-year, respectively. Group Chairman Ronald Nelson stated that selling Champion at this time is one of the ways to maximize shareholder value.
JD's revenue increased by 1.7% year-on-year in the third quarter
On November 15th, JD Group released its performance for the third quarter of 2023. In the third quarter of 2023, JD Group's revenue reached RMB 247.7 billion, a year-on-year increase of 1.7%, and the growth rate in the previous quarter was 7.5%; The operating profit was 9.3 billion yuan, compared to 8.7 billion yuan in the same period last year. Specifically, for the retail business, its revenue in the third quarter was 212.1 billion yuan, a year-on-year increase of 0.1%, and a growth rate of 5% in the previous quarter; The operating profit was 11 billion yuan, compared to 10.9 billion yuan in the same period last year.
On the same day, JD announced a reshuffle of its retail subsidiary group through a notice: JD Group CEO Xu Ran will also serve as the CEO of JD Retail Group, while former JD Retail Group CEO Xin Lijun will be appointed.
Demon Claw Parent Company to Introduce New Bottled Brands to the Chinese Market
Recently, at the third quarter performance meeting of Monster Beverage, the parent company of energy drinks, co CEO Rodney Sacks stated that in the Chinese market, compared to the same period in 2022, net sales in the third quarter increased by 20.2% in US dollars and 28.3% in Chinese yuan. The company remains optimistic about the prospects of the Monster Beverage brand in China.
In addition, the attending executives also revealed that another energy beverage brand, Predator, may be introduced into the Chinese market in the second quarter of next year. Currently, they are considering launching two different priced products, PET bottled.
Wang Jianwei Takes Over as Head of Kwai E-commerce and Commercialization
On November 15, Kwai Technology released an internal email announcing that Wang Jianwei, a member of the Operation Management Committee, served as the head of the E-commerce Business Unit and the head of the Commercialization Business Unit, and reported to Cheng Yixiao, the chairman and CEO, that Cheng Yixiao would no longer be in charge of e-commerce business.
It is reported that Wang Jianwei joined Kwai in 2019 and has successively been responsible for up and down business, main station and fast version products and operations, commercialization and other businesses, making contributions to scale growth, exploration of live broadcast formats, and content ecological prosperity. And Cheng Yixiao will spare more energy to look at new industry opportunities from the company level, and from a global perspective to see how to better coordinate the traffic ecology and liquidity system.
Xiaomi Jingming Established a Branch in Beijing
According to Tianyancha, on November 3rd, Xiaomi Jingming Technology Co., Ltd. Beijing First Branch was established, with Lei Yun as the responsible person. The business scope includes software development, data processing services, communication equipment sales, electronic product sales, etc. The headquarters is Xiaomi Jingming Technology Co., Ltd. The registered address of this branch is Building 9, Yard 21, Huanjing Road, Beijing Economic and Technological Development Zone, which is the same as the production address of Xiaomi Automobile.
Meituan's flash purchase of Double 11 hit a historic high in sales
On November 14th, Meituan Flash Purchase released the "11.11" closing battle report. According to the battle report, on November 11th, the number of participating products increased by 123% compared to last year, and real-time retail showed a prosperity in all categories. Consumers' needs for clothing, food, housing, transportation, and entertainment were fully met, with sales reaching a historic high, especially in the five core categories of digital home appliances, beauty and personal care, pet food, department store clothing, and mother and baby toys.
Among them, in terms of "clothing", the sales of outdoor shoes and clothing increased by 1742% year-on-year, children's clothing and children's shoes increased by 202%, and down jackets increased by 106%; In terms of "food", the sales of electric hotpot increased by 436% and Baijiu by 255%; In terms of "living", pet care increased by 106%, and hardware products increased by 136%; In terms of "travel", the sales of skiing related products increased by 281%, cycling supplies increased by 191%, and cat and dog travel increased by 102%; In terms of entertainment, electronic education increased by 547%, game equipment increased by 834%, computer machines increased by 367%, and toys and musical instruments increased by 159%.
Rubik's Cube Apartment Frozen 25 Million Equity Interests
According to the Tianyancha App, recently, the affiliated company of Rubik's Cube Apartments, Rubik's Cube (China) Investment Co., Ltd., added a new equity freeze information, with a frozen equity amount of 25 million RMB. The executed enterprise is Rubik's Cube Zhilian (Shanghai) Digital Technology Co., Ltd., with a freeze period from November 6, 2023 to November 5, 2026.
Rubik's Cube (China) Investment Co., Ltd. was established in June 2012, with Li Jianlang as its legal representative and a registered capital of approximately 337 million US dollars. It is jointly held by Rubik's Cube Life Service Group Co., Ltd. and Yihe Wanchuang Investment Management Group Co., Ltd.
Fujian Launches Railway Tourism Tickets
China Railway Nanchang Bureau Group Co., Ltd. stated that in order to meet the diverse travel needs of passengers and facilitate high-speed train travel, China Railway Nanchang Bureau Group Co., Ltd., Fujian Provincial Department of Culture and Tourism, and China Railway Investment Group Co., Ltd. jointly launched three railway tourism ticket products, which were officially launched on November 15, 2023. The three products are "Xiamen+Quanzhou+Mount Wuyi" travel tickets, "Xiamen+Fuzhou+Taining" travel tickets, and "Xiamen+Fuzhou+Pingtan" travel tickets, opening a new mode of "one ticket" three city bus travel.
First batch of international e-commerce standards released globally
On November 15th, the eighth plenary meeting of the International Organization for Standardization's Electronic Commerce Transaction Guarantee Technical Committee, hosted by the National Standardization Administration, was held in Hangzhou. At the opening ceremony of the conference, the world's first batch of international e-commerce standards ISO were officially released. The relevant person in charge of Hangzhou Standardization Research Institute stated that the development system of the two standards has summarized and extracted Hangzhou's e-commerce experience, and will be promoted and applied to various countries around the world.
Fresh news on cross-border sea trips
Last year, China's total import and export volume with APEC members was 3.74 trillion US dollars
According to the Ministry of Commerce and other departments, in 2022, the total import and export volume between China and APEC members was 3.74 trillion US dollars, accounting for 59.7% of China's total import and export volume. Eight of China's top ten trading partners are APEC members, and China is also the largest trading partner among the 13 APEC economies. In 2022, China's utilization of APEC economies accounted for 86.6% of China's total foreign investment; Among the top ten sources of foreign investment in China, 5 are APEC members.
AliExpress has become the third largest e-commerce platform in South Korea
According to WiseappRetail Goods, a South Korean application analysis service provider, the number of users on AliExpress surged to 6.13 million in October, surpassing the old Korean shopping website GMarket and becoming the third largest e-commerce platform in South Korea. This is the first time an overseas platform has appeared among the top three e-commerce platforms in South Korea.
Amazon and Snap reach a cooperation agreement
Recently, an official spokesperson for Amazon confirmed that Amazon has reached an agreement with Snap, similar to the agreement signed between Amazon and the Meta platform, which will allow Snap's social media app Snapchat users to purchase Amazon products they see on Snapchat directly through the app. Users do not need to leave the application to purchase products in the advertisements placed by Amazon on social media platforms.
Mingchuang Youpin's flagship store in the UK has landed on Oxford Street
Recently, the flagship store of Mingchuang Youpin in the UK officially opened on Oxford Street in London. It is understood that this store is the largest store of Mingchuang Youpin in the UK to date, with a record breaking performance on its first day of opening in Europe. At present, Mingchuang Youpin has entered 107 countries and regions worldwide, with nearly 6000 global stores.
Deepening cooperation between Qingyuan and SHEIN
Recently, Qingyuan Guangqing Industrial Park and SHEIN have reached cooperation around the clothing industry. It is reported that this is another important move in the domestic supply chain after SHEIN invested 10 billion yuan in the Guangzhou Xiyin Bay Area supply chain project and 3.5 billion yuan in the Zhaoqing Xiyin Bay Area Western Smart Industrial Park.
Investment and Financing News
Chinese hamburger brand Weiliangubao has completed a strategic financing of 10 million yuan
According to a report by 36 Krypton, the fast food brand "Weiliangubao" has completed a strategic financing of 10 million yuan, with the current round of investors being Zhongyuan Investment. This round of financing funds will be used for brand promotion and store development. It is reported that Weiliangubao was born in 2023 and is a new fast food brand characterized by Chinese hamburgers, with prices ranging from 25 to 35 yuan. Behind this financing, Weiliangubao is planning to launch a new Chinese hamburger brand with the same name.
Industry Opinion Express
The total retail sales of consumer goods in October increased by 7.6% year-on-year
According to data released by the National Bureau of Statistics on November 15th, the total retail sales of consumer goods in October reached 4.33 trillion yuan, a year-on-year increase of 7.6%. Among them, the retail sales of consumer goods other than automobiles reached 3.92 trillion yuan, an increase of 7.2%. From January to October, the total retail sales of consumer goods reached 38.54 trillion yuan, a year-on-year increase of 6.9%. Among them, the retail sales of consumer goods other than automobiles reached 34.64 trillion yuan, an increase of 7.0%.
In October, the national online retail sales reached 12.29 trillion yuan, an increase of 11.2% year-on-year. Among them, the online retail sales of physical goods reached 10.3 trillion yuan, an increase of 8.4%, accounting for 26.7% of the total retail sales of consumer goods in society.
Multiple domestic airlines saw a significant increase in passenger turnover in October compared to the same period last year
Southern Airlines announced a year-on-year increase of 257.30% in passenger turnover in October; The turnover of goods and mail increased by 24.20% year-on-year.
Air China announced that in October, passenger capacity investment (in terms of available seat kilometers) increased by 247.9% year-on-year and 1.8% month on month; The passenger turnover increased by 315.1% year-on-year and 5.2% month on month.
Spring Airlines announced that in October, passenger turnover (calculated by revenue passenger kilometers) increased by 124.97% year-on-year and 2% month on month; The passenger occupancy rate increased by 14.25% year-on-year and decreased by 0.09% month on month.
China Eastern Airlines announced that in October, the company's passenger transportation capacity investment (based on available seat kilometers) increased by 243.58% year-on-year; The passenger turnover (in passenger kilometers) increased by 302.30% year-on-year; The passenger occupancy rate was 77.08%, an increase of 11.26 percentage points year-on-year.
104 Double Eleven GMV breaking 100 million merchants
According to data from the Massive Engine Mass Consumption Business Center, during the Double Eleven period, the GMV of the 3C home appliance industry increased by 130% year-on-year, 28 brands in the beauty industry exceeded 100 million yuan, 4 billion level merchants in the clothing industry, 79 billion level products in the daily chemical mother and baby industry, and 44 brands in the food and beverage industry had GMVs exceeding 10 million yuan. 104 brands such as Xiaomi, Apple, Est é e Lauder, Blue Moon, Perrier, and Han Shu have GMVs exceeding 100 million, and tens of thousands of products have GMVs exceeding one million.
The Chinese tablet market decreased by 3.4% year-on-year in the third quarter
IDC's latest quarterly tracking report on tablets shows that in the third quarter of 2023, the shipment volume of China's tablet market was approximately 7.05 million units, a year-on-year decrease of 3.4%. The consumer market decreased by 4.3% year-on-year, while the commercial market increased by 7.4% year-on-year. The shipment volume of major brands Huawei, Xiaomi, and vivo has increased against the trend.