中国零售及电商周讯（2025年6月20日-6月26日）

Helen ChinHead William KongManager Brigitte Ng HKUST LI & FUNGSUPPLY CHAIN INSTITUTELSK Business BldgThe Hong Kong University ofScience & TechnologyClear Water Bay KowloonHong KongE:ustlfsci@ust.hk I. Sector Review.........................................................................................................2 Kuaishou E-commerce 618 report: Search GMV grows over 143% yoy....................2Duoduo Maicai tests self-operated warehouses with plans to launch instant deliveryservice in August...................................................................................................2Meituan expands instant retail, Xiaoxiang Supermarket to cover all first and second-tier cities................................................................................................................2Taobao Flash Sale and Ele.me’s combined daily orders exceed 60 million...............3 Yonghui Superstores expects to open one renovated store daily in 3Q25.................4 Retail Logistics........................................................................................................4 JD Logistics pioneers first open-to-all integrated warehousing anddistribution servicefor instant retail......................................................................................................4SF Intra-city: Intra-city instant delivery orders double year-on-year in 618 peak period Cosmetics...............................................................................................................5 Tims China’s 1Q25 revenue reaches 300 million yuan.............................................5 I.Sector Review Internet & E-commerce Kuaishou E-commerce618 report: Search GMV grows over 143% yoy Kuaishou E-commerce (快手电商) recently released its 618 campaign report. Itstraditional shelf-based retail business maintained fast growth, with product cardGMV growing over 53% yoy, search GMV growing over 143% yoy, and thenumber of million-yuan-GMV products in Kuaishou Mall’s brand subsidychannel growing over 124% yoy. The content marketplace also flourished, with Duoduo Maicai tests self-operated warehouses with plans to launch Duoduo Maicai (多多买菜), the grocery delivery unit of Pinduoduo (拼多多), ispiloting self-operated warehouses in Shanghai as it prepares to enter theinstant delivery market. The service is expected to launch in August, withShanghai as its initial base before expanding to other cities, offering an instantdelivery service similar to JD NOW (京东秒送) and Meituan Instashopping (美团 Meituan expands instant retail, Xiaoxiang Supermarket to cover all first On 23 June, Meituan (美团) announced that it will expand its instantretailbusiness, promoting the upgrade of new retail formats to provide users withmore cost-effective products and services. This follows the official launch of itsthe instant retail brand ‘Meituan Instashopping’ (美团闪购) and the expansion of Taobao Flash Sale and Ele.me’s combined daily orders exceed 60 million On 23 June, less than two months since ‘Taobao Flash Sale’ went online, thecombined daily orders of Taobao Flash Sale and Ele.me have exceeded 60million. Retail orders have grown 179% yoy, withon-time delivery rate JD.com establishes instant delivery tea beverage company in Guangzhou Miaosong(literally meaning ‘deliver in seconds’)Tea Beverage (秒送茶饮) Co.Ltd was recently established in Guangzhou, with a registered capital of 100,000yuan. The company’s business scope includes the sale of daily necessities and Meituan helps mid-to-low-tier cities’ service retail go online as transaction Zhang Tao, head of the Small and Medium Cities Development Department atMeituan’s (美团) Service Retail Division, recently revealed that mid-to-low-tiercities representa huge untapped market for service retail. Over the past year,more than 10,000 chain brands from high-tier cities have accelerated theirexpansion into lower-tier markets, with the number of new stores opened inmid-to-low-tier cities growing by 66% yoy.Since 2022, Meituan Service Retail Xiaoxiang Supermarket’s2024 GMV reaches nearly 30 billion yuan Xiaoxiang Supermarket's (小象超市) 2024 GMV reached nearly 30 billion yuan,surpassing Dingdong Maicai (叮咚买菜) (25.5 billion yuan) and approachingthat of Pupu Supermarket (朴朴超市) (over 30 billionyuan). Notably, GMV ofXiaoxiang Supermarket has already reached half of Freshippo’s (盒马鲜生) Supermarkets & Hypermarkets Yonghui Superstores expects to open one renovated store daily in 3Q25 Yonghui Superstores (永辉超市) recently announced that it expects to completeits goal of renovating 200 stores nationwide by 30 September this year. Theupcoming renovations will focus on employees and merchandise, includingimproving employee skills training and compensation, and strengthening thedevelopment of private label products to achieve billion-yuan level sales,inaddition toachieving 80% of Pangdonglai’s (胖东来) merchandise structure. Retail Logistics JD Logistics pioneers first open-to-all integrated w