Summary of Conference Call on E-commerce Platforms and Beauty Industry Industry Overview - The conference call focused on the e-commerce platforms and the beauty industry, particularly the strategies for the upcoming Double Eleven shopping festival in 2025, highlighting the competitive landscape among major platforms like Tmall, Douyin, and JD.com [1][3][4]. Key Points and Arguments Tmall - Tmall aims to solidify its high-end brand image and increase the repurchase rate of 88 VIP members, with member contributions exceeding 70% in 2025 [1][16]. - The platform will focus on official discounts and high-value gift sets during the pre-sale period, collaborating with influencers to enhance visibility [1][4]. - Advertising expenditure on Tmall is approximately 15% of GMV, maintaining a stable cost structure compared to previous years [1][11]. Douyin - Douyin is focused on rapid GMV growth, encouraging brands to open flagship stores and utilizing short videos and live streaming to drive sales [1][5]. - The platform's advertising expenditure is the highest among the three, at around 25% [1][11]. - Douyin's strategy includes optimizing product cards to stimulate repurchase through coupons [1][5]. JD.com - JD.com targets high-net-worth individuals, emphasizing instant retail and logistics experience, with a focus on 211 same-day delivery services [1][5]. - The platform's advertising expenditure has decreased to about 10%, indicating an increase in organic traffic [1][19]. - JD.com is primarily used for high-end gift boxes and channel supplementation [1][3]. Market Trends - The introduction of the postal tax policy starting October 1, 2025, will impact revenue recognition and require brands to refine their operations and cost control strategies [1][12]. - AI tools developed in collaboration with Alibaba have improved operational efficiency, leading to a profit increase of over 15% for leading brands [1][13]. Additional Important Insights - The beauty category is less suited for instant retail compared to clothing, as consumers prefer online purchases for beauty products due to their standardized nature [1][7]. - The local life business encompasses various sectors, including clothing and dining, and operates across multiple platforms without the need for intricate management [1][8]. - The overall advertising effectiveness on Tmall has remained stable compared to previous years, with no significant changes in performance metrics [1][11]. - The brand 毛戈平 (Mao Geping) achieved a total GMV of 4 billion yuan in 2024, with Tmall contributing 50%, Douyin 35%, and JD.com 15%. The target for 2025 is set at 5.2 billion yuan, with Douyin expected to grow the fastest [2][20]. Future Plans - For 2026, 毛戈平 plans to reduce Tmall's internal fee ratio to 12%-15% and enhance the short video content strategy to boost organic search traffic [2][21]. - The brand will optimize its collaboration model on Douyin to reduce costs and improve ROI, while continuing to refine video advertising strategies on JD.com [2][21]. - 小红书 (Xiaohongshu) is positioned as a content-driven platform for brand education, directing traffic back to e-commerce platforms for purchases [2][22].