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author | guapian

extremely unusual scenes have appeared among china's major internet companies. the giants who were originally "incompatible" actually shook hands and made peace, entering the "era of tearing down the wall" overnight:

first, alibaba and tencent are "tearing down the wall". taobao officially announced the addition of wechat payment. alipay and huabei can also be used for payment on wechat.

alibaba meituan is "tearing down the wall" on the same day that taobao added wechat payment.meituan takeout and meituan hotel simultaneously launched alipay mini-programs.

jd.com and alibaba are also “tearing down walls.” there is news thattaobao and tmall, a subsidiary of alibaba, are about to officially connect to jd logistics and are expected to go online in mid-october. after 13 years, jd.com will reconnect to alipay.

……

times have really changed. when "anti-involution" becomes the new main theme, it means that the major giants cannot focus on the "zero-sum game", but must work together to create new increments for the future. major internet companies have taken the lead in taking action collectively, and the signals behind them are meaningful.

you know, for more than ten years, the internet giants have been the representatives of "volumes". they have built high walls, strictly guarded against external links, and clung to their own hills. today, major manufacturers are taking action one after another to completely "tear down the wall" and actively embrace their "closest rivals."

this is by no means just a change in the internet field, but reflects the latest trend of the times.

in the past, jumping between apps from giants was an extremely complicated operation. a few years ago, if you took a fancy to a product while shopping on taobao and wanted to share it with your wechat friends, what would happen?

the first step is to click share

the second step is to select wechat and generate a taobao password.

the third step is to open taobao again and send the link.

part 4: the other party copies the link and opens taobao

part 5, click to view the product

one of the simplest needs, to complete the operation on the mobile phone, has to go back and forth many times.

in 2020, alibaba disclosed an astonishing data in "8 cold facts about taobao": "taobao generates 100 million taobao passwords every day." this means that tens of millions of people may be "chopping over the wall" every day.

in fact, since taobao and wechat officially "parted ways" in 2013, one side is the largest e-commerce platform in china, and the other side is the largest social platform in china. a "cyber wall" that is invisible to the naked eye and cannot be climbed has been erected in the middle. ".

is this the internet or a "non-internet" network? hundreds of millions of netizens, faced with this complex and unreasonable set of actions, often have only one choice: follow them.

but now, with the step-by-step advancement of interconnection, the "high wall" has gradually collapsed. the recent intensive "wall demolition" movement is actually a culmination of continuous evolution.

starting in 2020, the state has successively launched antitrust investigations. on the afternoon of september 9, 2021, the ministry of industry and information technologyproblem with blocking url linksprovide administrative guidance and propose compliance standards for instant messaging software, requiring all platforms to unblock them according to standards before september 17, otherwise disciplinary measures will be taken in accordance with the law.

companies participating in this meeting include alibaba, tencent, bytedance, baidu, huawei, xiaomi, momo, 360, netease, etc. just four companies, alibaba, tencent, baidu, and byte, control more than 70% of china’s internet traffic.

the prelude to the “era of tearing down walls” on the internet, has officially opened at this time.

starting from the edge business sector, alibaba’s ele.me, youku, damai, kaola shopping, shuqi and other applications began to integrate wechat payment.

by the end of 2021, wechat will loosen external links and allow shopping and video links including taobao, douyin and other external apps to be opened in one-to-one chat scenarios; tencent video, tencent news, and qq-based advertising traffic are also connected ali's mother.

in september 2023, advertising traffic such as wechat video accounts, moments, and mini programs can be delivered through alimama's ud effects, directly jumping to taobao and tmall merchants' stores, product details, and taobao live broadcast rooms.

in october 2023, the "wechat scan code to pay" option appeared on the taobao payment page. at that time, taobao officially responded: "the wechat scan code payment function is still being gradually opened. it is currently only open to some users, and only some products support this payment method."

today, taobao joins hands with wechat pay and embraces jd logistics, marking the demolition of the wallrealentered"deepwater"。you know,payment tools and express logistics are both the two major infrastructures of china's e-commerce industry. if they were placed in the past, they would never be tolerated by others.get involvedofcorezone.

if we say that this handshake and cooperation that spanned more than ten years, the major manufacturers were passive at first. but today, they are more willing to take the initiative.

behind the "wall demolition operation", it reflects thetraditional e-commerce giants are deeply worried about traffic。

in the past decade or so, in order to achieve a fully closed loop, domestic internet companies have spent all their money to build high walls, forcing users to "choose one of the two." unexpectedly, it was lightly "broken down" by consumption downgrades and live broadcast e-commerce.

at the end of november 2023, alibaba’s market value was surpassed by pinduoduo for the first time. after the milestone,the e-commerce world is no longer divided into two parts, but three pillars, surrounded by wolves.

after kuaishou "broke one trillion" last year, china's e-commerce market already has five platforms with gmv exceeding one trillion, alibaba, jd.com, pinduoduo, douyin, and kuaishou.

financial report data shows that in the second quarter of this year, alibaba and jd.com both experienced single-digit “slight growth”.

alibaba's revenue in the first quarter of fiscal year 2025 (i.e., the second quarter of 2024) was 243.24 billion yuan, a year-on-year increase of 4%, which was lower than market expectations of 249.848 billion yuan. jd.com group’s revenue in the second quarter reached 291.4 billion yuan, a year-on-year increase of 1.2%.

what is quite surprising is that taotian group’s revenue in the quarter was 113.373 billion yuan, a year-on-year decrease of 1%.as the core "backbone" taotian group, it became the only one among the seven major business sectors to decline.

pinduoduo released its financial report for the second quarter of 2024, which showed that revenue for this quarter reached 97.1 billion yuan, a year-on-year increase of 86%.

douyin e-commerce and kuaishou e-commerce are still in the explosive period of double-digit growth.

the internet business is essentially a traffic business. despite their huge user base, both taobao and jd.com are hungry for fresh blood.

the first representative sent by taobao is "taote", which focuses on low prices. the intention is obvious, i want to pay through wechat.get traffic from sinking markets。

among third-party payments, alibaba’s alipay is the absolute king.

in terms of transaction volume, alipay and tenpay (wechat pay + qq wallet) have accounted for about 93% of the share; among them, alipay accounts for about 53%, wechat pay accounts for about 40%, and all other third-party payment institutions ( jd pay, meituan pay, douyin pay, etc.) accounted for only 7% of the total transaction volume.

but in the third and fourth tiers and small counties, wechat payment is overwhelming. in 2020, the "wechat county rural digital economy report" jointly produced by wechat and renmin university of china showed:

wechat payment is preferred by 83% of county residents, which is higher than 76% of urban users.

in february 2021, taote applied for entry into the mini program and access to wechat payment for the first time, and began to actively show its goodwill frequently. after waiting for 7 months, taote launched the wechat scan code payment function.

this time, taobao was still the one taking the initiative, but the process seemed much smoother. taobao finally got what it wanted and connected to the sinking traffic outside the fifth ring road. taobao merchants can find gold more easily from tencent’s traffic pool.

tencent does not seem to be the active party, nor does it sit back and relax. because the growth rate of wechat payment has "slowed down".

in the second quarter of this year, among tencent's three major business segments, online advertising revenue increased by 19.5% year-on-year, value-added services with mobile games as the core increased by 6%, and financial technology and enterprise service revenue with wechat payment as the core increased by only 4%.

“the number of transactions continues to grow, but the average transaction value has declined.”

at this time, wechat pay has entered taobao e-commerce, and tencent can also obtain more high-value consumers, driving the financial technology sector back to high growth.

the same goes for jd.com. taobao and tmall have officially announced that they will be officially connected to jd logistics, and jd will also be able to reap a wave of taobao-related traffic. after jd.com connects to cainiao express and cainiao post, it can also provide users with more choices and increase stickiness.

whencustomer acquisition costgetting higher and higher, the cost-effectiveness of burning money is getting lower and lower, and the cooperation ratio is getting lower and higher.confrontationmore consistentusergrowing demand.

in fact, looking around the world, the trend of "tearing down the wall" of the internet has been unstoppable. the e-commerce giant from across the oceanamazon, also moved from building walls to opening up in order to cope with the fierce impact from temu and shein.

in november 2023, amazon reached cooperation agreements with facebook, instagram, and snapchat. from now on, users on cooperative media platforms can purchase amazon products they see directly on the site without having to jump to the amazon app.

bloomberg reported that amazon officials revealed that this shopping advertising model increased product click-through rates by 70%, effectively promoting sales growth. research from pymnts inteliqence and aws also shows that 28% of consumers purchase products on social media.

in august this year, amazon signed a cooperation agreement with tiktok.

as consumers, we are of course happy to see "reconciliation" between platforms. today, we need the giants to stand up more than ever.

at the end of august this year, the state administration for market regulation announced on its official website that alibaba had completed three years of rectification.

this announcement clearly states that in the next step, the state administration for market regulation will guide alibaba group to continue to standardize its operations:

further improve compliance quality and efficiency, accelerate innovation-driven development, and continuously improve service levels

provide a solid guarantee for building a world-class enterprise and enhancing international competitiveness

in response, alibaba also responded:

this is a new starting point for development. in the future, we will continue to be based on innovation, adhere to compliance operations, increase investment in science and technology, promote the healthy development of the platform economy, and create more value for society.

as the country strives to stimulate consumption and boost the economy, internet giants are undertaking an unprecedented mission.

from january to august, the total retail sales of consumer goods only increased by 3.4%, and the growth rate continued to fall.

however, national online retail sales increased by 8.9% year-on-year, of which online retail sales of physical goods increased by 8.1%, accounting for 25.6% of the total retail sales of consumer goods.

a report on china's new e-commerce development released a few days ago shows that the country's total online retail sales will reach 15.42 trillion yuan in 2023, a year-on-year increase of 11%. in,the proportion of online retail sales of physical goods has increased tototal retail sales of consumer goods27.6%, e-commerce has become increasingly important to national consumption.

in the current era of "all-out efforts to fight for the economy" and to reverse social expectations, we need alibaba to regain its glory and raise the banner of a world-class enterprise.

a mechanism of interconnection and fair competition is more in line with the interests of the whole society than the "intertwining" of high walls and deep trenches.