Tencent (00700.HK) today saw its stock price rise nearly 3.2% to 428.4 yuan, Meituan (02013.HK) soared 23.9%, EAST BUY (01797.HK) jumped over 14.4%, but Alibaba (09988.HK) fell 3.3%, Kuaishou (01024.HK) dropped 4.6%, and JD.com (09618.HK) declined 2.3%.

Mainland brokerage Huajin Securities released a report stating that Tencent's WeChat team announced a gray test for the 'gift' feature in WeChat Mini Shops. Except for the two major categories of jewelry and education and training, the Mini Shops in other categories will automatically support the 'gift' feature for Commodities priced at no more than 0.01 million yuan. Commodities that meet the criteria will have the 'gift' feature enabled automatically.

According to Questmobile data, the average MAU (Monthly Active Users) of WeChat in the third quarter of this year was 1.062 billion. WeChat's open class announced that the GMV scale for video posts in 2024 has tripled compared to 2022, with the number of Orders increasing by 244%. Among the purchasing users, 78% are female, and apparel Orders account for 38% of the total, ranking first in the industry. The GMV proportion of video post brands is 15%, with their GMV growing by 226%. According to Tencent's third-quarter Earnings Reports, the income from Marketing Services has increased by 17% year-on-year to 30 billion yuan, mainly benefiting from advertisers' demand for inventory in video posts, mini programs, and WeChat search ads.

Starting from August 25 this year, Tencent officially supports merchants in upgrading their video post Mini Shops to WeChat Mini Shops. Subsequently, information about stores and Commodities circulates within multiple WeChat scenarios such as official accounts (subscription accounts, service accounts), video posts (live broadcasts, Short Video), mini programs, and search. This multi-scenario integration helps merchants better reach users, improve sales conversion rates, and enhance operational efficiency.

Huajin Securities stated that this year e-commerce platforms are continuously optimizing the matching of platform rules and strategic positioning. Each platform adjusts its Low Stock Price priority strategy and focuses on differentiation. Taobao prioritizes GMV, JD.com strengthens the implementation of Low Stock Price strategies, PDD Holdings (PDD.US) insists on a Low Stock Price priority strategy, and Douyin returns to the essence of content e-commerce with GMV growth as the priority. WeChat itself possesses characteristics of social e-commerce, content e-commerce, and private domain e-commerce. The new feature in WeChat Mini Shops is based on its social nature and is combined with video posts to build an internal traffic circulation while continuously attracting external traffic, which is expected to promote the formation of a complete and closed-loop ecosystem for WeChat e-commerce. (wl/u)

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