2020-07-16

Tencent’s big move, WeChat store officially launched! Is Taobao anxious?

By yqqlm yqqlm

On July 14, WeChat released a big move in the e-commerce field and launched a small store. Just as every user can open a WeChat public account on WeChat, every merchant with a business license can open a store on WeChat. In addition, WeChat stated that individuals are gradually opening stores, and then individual users “were not selling vegetables on the WeChat”. Ali, JD.com, Meituan, Pinduoduo firmly occupy the runway in their respective fields. At this time, what will happen if Tencent brings WeChat into the game Waves?

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WeChat store officially launched

Can carry goods live

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WeChat small store consists of WeChat appletTeam development can help merchants to create small programs for selling without development, zero cost and one click. The WeChat small store team will be responsible for technology and service processes such as product release, order management, transaction settlement, logistics after-sales, and live streaming.

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At present, the small store contains basic functional modules for e-commerce operations such as product information release, commodity trading, order and logistics management, marketing, fund settlement, customer service and after-sales. It is worth mentioning that The small store that came online this time has its own live broadcast capability, and merchants can achieve live broadcast delivery, and deposit traffic in small stores.

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In terms of opening conditions, WeChat small shops support the opening of stores by enterprises, individual industrial and commercial households, and individuals. However, currently only open the internal test application to businesses with two qualifications of enterprises and individual industrial and commercial households, individual stores will gradually be opened in the future.

During the internal testing period, under the same subject, enterprises can support up to 50 small shops, and individual industrial and commercial households can open up to 5. In addition, one WeChat can only support registration once.

The WeChat store currently supports more than 1,500 product categories for sale, mainly including:pet life, household appliances, mobile communication, digital, computers, offices, clothing and underwear, etc. Sales categories will increase.

In order to regulate the use of small store brands and trademarks, merchants need to open the corresponding brand use rights according to the brand opening rules. At present, small shops can open their own brands, agency brands and unbranded three types.

Tencent does not forget the e-commerce dream

Reviewing Tencent’s history can reveal that the current Tencent has actually dabbled in several major forms of e-commerce.

For example, the Paipai.com launched in 2005 was an important representative of early C2C. In fact, it is not only C2C, it even has many social e-commerce shadows. The QQ rebates and QQ member official stores launched in 2009 are very similar to the Taobao mall in the same period. As for the later QQ online shopping, it is a very mature comprehensive e-commerce platform.

All these attempts are backed by solid infrastructure, adequate funding, and huge traffic. However, all these attempts failed without exception.

WeChat small stores entered late, but Tencent’s e-commerce territory has been expanding in recent years. As we all know, Tencent is a shareholder of Meituan, Pinduoduo and JD.com. In April of this year, Tencent increased its holdings of Pinduoduo with US$50 million, increasing its holdings of Pinduoduo to 790 million shares, accounting for 29.2%of the shares, and becoming Pinduoduo’s second largest shareholder.

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In early May, WeChat launched the small goose spelling applet, which focuses on single-group buying. Not long ago, WeChat also launched a small express delivery program.

Recently, WeChat has launched a new feature called”Quan Xiaodian”, which focuses on the new shopping methods of”sharing” and”promotion”. WeChat’s launch of the “Quan Xiaodian” function is a new way that Tencent provides for WeChat group shopping. Participants can buy things together with friends and relatives, colleagues, and classmates, and return red envelopes.

According to Tencent’s financial report for the first quarter, WeChat applets have 400 million daily active users, creating a cumulative transaction volume of 800 billion yuan. The”2019 Social E-commerce Development Trend Report” shows that from 2017 to 2019, the number of WeChat shopping users has continued to increase, of which the year-on-year increase in 2018 reached 42%.

Compared with other e-commerce platforms, WeChat small stores put more emphasis on fast opening and zero cost, which shows that their target merchants are more focused on the small store format and form differentiated competition with integrated e-commerce platforms.

Ding Daoshi, an internet analyst, analyzed and said:

WeChat launched a small store to ensure the link and promotion of related products in the WeChat ecosystem. And the products developed by WeChat personally means a better understanding of supply and demand. More importantly, this small program greatly reduces the threshold requirements. Therefore, it has great advantages.

In addition, Ding Taoshi said:

WeChat will definitely provide more funds and flow support for its products, which is different from third-party service providers.

Editor:Li Zhaoying

Reviewer:Zhang Huijuan

Producer:Liu Zhijun

Source:Daily Economic News, Economic Observer

Some image sources:Visual China