China Retail & E-commerce Weekly Update presents the latest developments in two of China’s fastest changing and rapidly evolving markets – retail and e-commerce.

Key highlights in this issue:

I. Sector Review

Internet & E-commerce

• East Buy establishes a supply chain company in Jiaxing   
• Douyin 3.8 Festival’s daily average paid GMV increases by 33% yoy 
• Xiaohongshu begins testing direct links to WeChat mini app 
• Xianyu’s average daily GMV exceeds one billion yuan in 2023 with over 100 million active users 
• Vipshop establishes e-commerce company in Chongqing with a registered capital of 36 million yuan 
• JD.com announces three major initiatives for 3C and digital products   

Supermarkets & Hypermarkets

• Freshippo’s first store in the new year opens in Changsha, with 70 more new stores opening across the country this year 

Retail Logistics 

• JD Logistics launches packaging laboratory 

Apparel 

• Peacebird’s 2023 net profit increases by 127.1% yoy

Home Goods

• Miniso’s revenue exceeds 13.8 billion yuan in 2023

II. Market Overview

• iResearch: Online shoppers were most conscious of price in 2023 
• Meituan Instashopping: Instant retail consumer electronics industry expected to exceed 100 billion yuan in 2026 

III. Policy Spotlight

• Nine government departments call for building county-level livestreaming e-commerce hubs