Afleveringen
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Originally dubbed Singles day by 4 university students, 11.11 has transformed into one of the world’s largest shopping festivals.
In 2009, Alibaba launched the first 11.11 shopping festival, generating RMB 50 million in GMV despite a website crash. Since then, it has grown massively, and today, 11.11 spans several weeks instead of just one day.
But has 11.11 lost its charm? Tune is as we explore why Chinese platforms stopped reporting GMV, how the festival’s expansion impacts consumer behavior, and whether the rise of frequent sales like 7.7 and 12.12 has led to “sale fatigue.”
Are shopping festivals still relevant, or have they lost their significance in today’s competitive ecommerce landscape?
P.S. Did you know Taylor Swift kicked off Alibaba’s 24-hour 11.11 shopping event in 2019?
Chapters:00:00:15: The beginnings of 11.11
00:05:00: How Alibaba turned 11.11 into a shopping festival
00:09:00: Why companies stopped announcing GMV
00:12:00: Has 11.11 lost its meaning?
00:18:00: What does this mean for retailers?
Featured materials: Behind the Labubu craze: PopMart business explained | Impulso E103:https://youtu.be/PLIq2UkvgwACommentary: What’s behind the rise of Chinese e-commerce platform Temu in the US?, CNA:https://www.channelnewsasia.com/commentary/china-e-commerce-shopping-app-temu-shein-tiktok-us-amazon-4245901What 11.11 Singles’ Day sales no longer say about China’s economy, The Lowdown:https://thelowdown.momentum.asia/what-11-11-singles-day-sales-no-longer-say-about-chinas-economy/
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What is Labubu? Why are Pop Mart's blind boxes so addictive? From the thrill of unboxing to the cultural phenomenon of "ugly cute" characters, these whimsical creations have captured the hearts (and wallets) of Gen Z.
In this episode of Impulso Podcast, Jianggan, Sabrina, and special guest Phyllis—our resident Pop Mart enthusiast—dive into the fascinating world of Pop Mart. Tune in as we unpack the company’s innovative business model, its exclusive IPs, and the meteoric rise that has turned Pop Mart into a global powerhouse generating billions in revenue.
With a growing portfolio of IPs and even their own theme park, could Pop Mart be setting its sights on becoming the next Disney? The big question remains: can Pop Mart build a deep emotional connection to its characters, or is this just another fleeting trend?
Chapters:
00:00:40: The craze behind PopMart explained
00:04:00: PopMart’s success in numbers
00:07:20: Who are the people behind PopMart and Labubu?
00:10:00 PopMart’s IP strategy
00:14:00: Labubu has a boyfriend?
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Zijn er afleveringen die ontbreken?
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On 21 November, two stories rocked China’s ecommerce scene, with global implications.
(In the previous episode, we discussed the first story: Alibaba’s merger of its domestic Chinese and international ecommerce businesses.)
In this episode, we dive into the second story—PDD Group’s Q3 earnings miss. But was the ‘miss’ engineered deliberately because all the merchant support costs were planned, or was it a lapse in execution?
Tune in as we explore:
Pinduoduo’s ¥10 billion merchant subsidies;
Why PDD or Temu seems to choose to directly engage rather than hire lobbyists;
Temu's opening of a full marketplace mode in the United States;
Pinduoduo’s focused operations, and its similarity to global retail giants like Walmart
The ecommerce competition in China and globally is entering a very interesting and probably even more intensified phase now.
Chapters:
00:00:45: Pinduoduo’s stock price falls 10%?
00:03:45 PDD’s frank earnings spook investors
00:06:45: Was the miss deliberate?
00:12:20: Temu launched a marketplace model
00:14:45 Intensifying ecommerce landscape - how are players adapting?
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On 21 November, two stories rocked China’s ecommerce scene, with global implications.
In this episode, we discuss the first story: Alibaba Group’s announcement to merge its domestic Chinese and international ecommerce businesses into the new Alibaba E-Commerce Business Group, led by Jiang Fan.
This move aims to streamline operations, foster synergies, and better position Alibaba against formidable rivals like Pinduoduo.
(The second story—PDD Group’s Q3 earnings miss—is covered in episode 102.)
In this episode, we explore:
Jiang Fan's journey from a mobile advertising entrepreneur to a pivotal leader at Alibaba;
Challenges of navigating leadership amidst corporate restructuring;
The significance of this merger in a rapidly evolving ecommerce landscape;
How this merger mirrors Pinduoduo and Temu’s strategy
The ecommerce competition in China and globally is entering a very interesting and probably even more intensified phase now.
Chapters:
00:00:20: Alibaba’s ecommerce merger
00:00:50: Who is Jiang Fan?
00:08:30: Transforming Alibaba, and its reversals
00:11:45: Challenges of leading a big organization
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In our 100th episode of Impulso Podcast, we unpack China’s milestone of delivering 150 Billion parcels in just one year - that’s enough parcels to fill up 30 million football fields!
Tune in as we break down the numbers, explore the logistics behind this scale, and discuss:
How goods sold at just ¥9.9 (with free shipping!) can still turn a profit
Automation vs. human efficiency in handling millions of parcels daily
Our first-hand observations from visit to one of China’s busiest logistics hubs
The story of the 150 billionth parcel
Don’t forget to like, share, and subscribe for more insights into the trends shaping the consumer tech ecosystem. Stay tuned for upcoming episodes!
Chapters:00:30:00: China sets new record: 150B parcels sent a year?!
00:03:30 Peak daily number of parcels delivered on just a random Tuesday?
00:06:45 11.11 hauls
00:08:20 Are Chinese brands profitable after selling goods at such low prices?
00:12:15 Logistics facility sends out 4 millions parcels a day
00:18:20 What was the 150B parcel?
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Building on our discussion of Sea Groups Q3 earnings, this week we unpack Sea Group’s US$4.6B loan book, which has grown 30% QoQ while keeping non-performing loans low.
Tune in as we break down how Sea Money leverages Shopee’s customer data to assess credit risk, fueling growth for both its digital financial arm and Shopee, with BNPL services encouraging users to finance larger ticket items.
On the other hand, Grab’s loan book, although smaller—at just 10% of Sea’s loan book—has potential. While Grab’s user base skews more premium and its ride-hailing model sees fewer transactions than e-commerce, it’s steadily growing. With 41.9 million monthly transacting users and expanding services across income segments, Grab is creating new opportunities in digital finance.
Chapters:00:00:37 SEAMoney’s US$4.6B loan book
00:04:00 How do tech players support lending?
00:06:20 SEA maintains a low non-performing loans (NPL)
00:12:28 Shopee Paylater boosts ecommerce growth
00:18:15 Does Grab’s financial services have potential?
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Sea Group announced expectation-beating earnings in Q3, sending stock prices up by 10%. A key highlight? SPX Express.
Has Shopee’s in-house logistics arm finally caught up to J&T Express in parcel volume?
Join us as we dive into how Shopee’s investment in strengthening its in-house logistics is paying off, deepening its “moat” against rising e-commerce rivals such as TikTok Shop and Temu. But is this enough for Shopee to be invincible? (Probably not)
We’ll also explore Shopee’s latest pick-up lockers, and their potential on easing reverse logistics in the region and transforming the consumer experience.
Chapters:
00:00:10: Shopee’s expectation-beating Q3 earnings
00:01:30: SPX Express parcel volume on par with J&T?
00:05:45: J&T’s revenue per parcel is falling
00:09:40: Shopee is deepening its moat against competitors 00:14:00: Reverse logistics, the next step
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Trump returns to the White House, Mr Modi meets President Xi in Russia. Are businesses ready to survive a world of shifting alliances and tariff threats?
Back by popular requests, we’re re-introducing our weekly recap format in this episode as we dive into the latest economic and political developments reshaping business strategies across borders. As the world watches the U.S. elections, many companies globally, especially cross-border businesses in Asia, are already making bold moves to adapt—with some even setting up shop in Paraguay to avoid potential tariffs.
We also discuss the evolving coffee landscape, including Luckin Coffee’s and Cotti Coffee’s ambitious expansion plans. Where does incumbent Starbucks stand amidst this intensifying competition? Tune in as we weigh in on operational differences, consumer behaviour, and brand strategies of coffee giants globally.
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(Only) after pouring $72 billion into Southeast Asia, venture capitalists are hitting the reset button in Southeast Asia?
Lightspeed Ventures' report, Southeast Asia: Resetting Expectations, has sparked discussions in our community groups for its honest take on the region's challenges and opportunities, with some calling it “finally an honest report on Southeast Asia.”
But what does it really mean to reset expectations for this region?
Tune into this latest episode as we dive into the evolving landscape of venture capital investment in Southeast Asia, unpacking why the region’s tech growth hasn’t fully met expectations, the unique role of conglomerates, and what this reset means for future investments and founders navigating these markets.
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Earlier in September, Meituan went live in Saudi Arabia under its global brand, Keeta.
This comes more than a year after Meituan entered its first overseas market, Hong Kong, where it quickly overtook established players like Foodpanda, becoming the market leader in order volume due to aggressive promotions and a focus on low Average Order Value (AOV) meals.
Now, Meituan is entering Saudi Arabia, a promising market for food delivery but one that presents unique cultural and operational dynamics for Meituan compared to its previous markets. And unlike many Chinese tech companies going global, Meituan faces the challenge of being an operationally heavy business.
Will Tony Qiu, Head of International Business at Meituan and former lead of DiDi’s expansion in Latin America, be able to navigate these complexities?
Tune in to the latest episode of the Impulso Podcast as we explore Meituan's global expansion strategy, and what’s next for the food delivery giant.
Chapters:
0:00 Intro
1:50 Is food in Hong Kong more expensive than Singapore?
5:58 Rise of two dish rice in Hong Kong
6:50 Meituan’s Keeta wins in Hong Kong?
11:00 What is rival Foodpanda doing?
12:15 Low AOV as a market entry strategy
14:18 Meituan’s expansion into Saudi Arabia
24:50 Why did Meituan’s share price rise?
Featured materials:
Meituan is entering Hong Kong, will it beat Foodpanda and Deliveroo there?, The Low Down
Meituan becomes top food delivery player in Hong Kong, The Low Down
Watch Out! KeeTa’s Rapid Rise in Hong Kong, measurable.ai
Total Restaurant Receipts and Restaurant Purchases, Hong Kong Government
McDonald’s to increase prices in Hong Kong by about 2.6% in new year, South China Morning Post
Will Meituan beat DeliveryHero in Saudi Arabia?, The Low Down
Meituan launches in Saudi Arabia, where next?, The Low Down
Should Meituan acquire Foodpanda?, The Low Down
In focus: food delivery platforms in Southeast Asia, Momentum Works
Picture Sources:
https://www.scmp.com/lifestyle/food-drink/article/3199243/two-dish-rice-cheap-fabulously-rich-and-hong-kong-icon-time-declare-it-part-citys-intangible
https://www.asiaone.com/lifestyle/lifehack-teaches-you-how-order-cai-fan-pro
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Wenheyou (文和友), a Chinese restaurant often dubbed the "Disneyland of Chinese cuisine", serves over 40,000 diners a day!
The 6-story restaurant (located in Changsha, China) is meticulously designed to replicate the old Changsha street scene, complete with vintage items and tattered signboards. Through careful design and storytelling, Wenheyou transports visitors back in time, offering a nostalgic experience.
Wenheyou has become a cultural icon, and a must visit for tourists, in Changsha. But how does it manage the unique operational challenges of running a 6-story restaurant serving tens of thousands of customers daily?
Tune into this episode of the Impulso podcast as we dive into the Disneyland of Chinese cuisine, Wenheyou.
The trend of experience-driven dining is just one of many innovative concepts emerging in China's fast-evolving and competitive F&B scene.
Join Momentum Works F&B innovation immersion to Changsha this November to see first-hand Wenheyou and other innovative F&B concepts, as well as best practices in operations and supply chain management.
Chapters:
0:00 Intro
1:10 Changsha, the entertainment city of China
2:20 Wenheyou: Disneyland of Chinese cuisine
4:50 Chayan Yuese in Changsha
8:40 Product expansion in Wenheyou
12:05 Rise of Experience driven dining
19:45 How does Wenheyou manage 40,000 diners a day?
23:15 MW F&B immersion to Changsha
Featured materials:
Momentum Works Immersions: F&B innovations
Momentum Works: Transforming Frontline Industries
Video sources:
Disneyland Paris Welcomes Back The Magic With A Reopening Starting June 17 | Disney Parks
FULL Magic Happens Parade 2024 at Disneyland Park! - Disney 100 Years of Wonder Celebration
Frozen Themed Land & 2 Frozen Rides | World of Frozen at Hong Kong Disneyland
BACK TO THE 80'S | A Vintage Restaurant Tour | Wenheyou, Changsha, Hunan
Guangzhou's Food Court on Steroids: Wenheyou Super
Old China in Wenheyou | Discover GuangzhouHaidilao Dance -
In the third and final part of our conversation with Blake Larson and Alexander Le, the three ex-rocket alumni turned founders reflect on life after Rocket Internet, the challenges they faced during international expansion, and the lessons learned from managing teams across different cultural backgrounds.
Tune in as they discuss their strategies for balancing work-life demands, and how they’ve chosen their own paths in both business and life. The discussion goes beyond business, exploring cultural differences, leadership approaches, and the challenges of scaling operations across borders.
The final part of this series explores:
Challenges of managing teams across different countries and cultures;
“Coconut vs Peach” theory;
Establishing company values across borders;
Balancing ambition with reality, while staying true to personal and company values.
Chapters:
0:00 Intro
1:00 Navigating cultural differences
4:30 EasyTaxi in Hong Kong
10:00 Balancing leadership in East and West
12:40 Coconut vs. peach theory
16:30 Motivating employees in a startup
20:40 Lessons from mistakes
24:50 Epilogue
Featured materials: E92: Impact of Rocket Internet in fragmented markets: conversation with Blake Larson & Alex Le (2/3), The Impulso Podcast -
In the second part of our conversation with Blake Larson and Alexander Le, the three ex-Rocket Internet Alumni dive deeper into the fragmented Southeast Asian tech ecosystem, reflecting on how it has evolved since the days of Rocket Internet.
They share their firsthand insights on navigating the fragmented markets in the region and the lessons they've learned from their expansive global experiences.
The second part of this series highlights:
Rocket Internet’s impact on tech development in Southeast Asia;
Challenges Southeast Asia’s fragmented markets pose for scaling tech operations;
How tech giants in the region, like Lazada and Grab, have tackled fragmentation issues;
Importance of resource allocation when scaling globally;
The future of tech scalability in the region.
Chapters:
0:00 Intro
1:01 Rocket Internet’s Impact on SEA
5:20 Fragmented SEA vs. China
10:00 Infrastructure is key for expansion
16:20 Rocket Internet’s data-driven expansion approach
24:15 Tips for young founders
Featured materials:
Seeing the Unseen, Jianggan Li, Guoli Chen
E91: Founders walk a lonely road: conversation with Blake Larson & Alex Le (1/3), The Impulso Podcast
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In this episode of the Impulso podcast, Jianggan Li is joined by Blake Larson, Ex-Global Managing Director at Lalamove, and Alexander Le, Ex-Managing director at Rocket Internet. Tune in as the three former Rocket Internet pioneers turned founders share their candid reflections on leadership, personal fulfilment, and their journey through the highs and lows of the startup world.
In the first part of this series, they dive into:
What it takes to be a good founder;
The lonely road of being a founder;
The contrast between builders who love creating and those better suited for managing large teams;
Challenges faced in the early days of Easy-taxi
Chapters:
0:00 Intro
1:11 Being a founder is lonely
3:50 Entrepreneurs vs Managers
6:30 Dealing with growing organisational complexity
15:30 Reflections on Rocket Internet and EasyTaxi
Featured materials:
Momentum Works Immersion: Ecommerce & Live Commerce
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In this episode of the Impulso Podcast, we leave the studio behind for Can Gio, a district set to become a major economic hub with a $15 billion investment. Joined by two industry leaders from Metub—Hung Tran, the COO, and Nhi Nguyen, the Director of Strategy and Planning—we dive deep into the rapidly evolving landscape of Vietnam's digital economy, the growth of e-commerce, live commerce, and the developments shaping Ho Chi Minh City and beyond.
We discuss the key drivers behind Vietnam’s booming ecommerce sector, including the significant role of live commerce, and how METUB empowers creators to turn their passion into sustainable careers. We also discuss the growing trend of cross-border ecommerce between Vietnam and China, as well as the differences in business culture between Vietnam and China, highlighting why understanding local dynamics is crucial for success.
Chapters:
0:00 Intro
1:05 What is Can Gio
6:20 Vietnam’s economic growth
14:10 Key drivers of ecommerce
21:00 Is Vietnam following China’s growth path?
27:50 Leveraging China’s supply chain
32:30 Today, customers are more knowledgeable
42:35 Cultural differences: Vietnam vs China
46:20 How to enter the Vietnamese market
Featured materials:Metub
Momentum Works Immersion: Ecommerce & Live Commerce
Ecommerce in Southeast Asia 2024, Momentum Works
“Half of Hangzhou is in Ho Chi Minh City”, TheLowDown
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ESG, GSG, and carbon accounting are more than just buzzwords—they are key factors in the transformation of modern businesses.
In this episode of the Impulso Podcast, we dive deep into the intricacies of carbon accounting and its impact on businesses with Sam Hon, founder and CEO of CREX, and Shaolin Zheng, co-founder and CTO at NextBillion.ai.
Key highlights from this episode:
Carbon accounting is not just an environmental obligation but a tool for improving business efficiency;
Complexities of adopting carbon accounting, misalignment between management goals and operational realities;
Future of sustainability practices, and the role of data in driving change.
Tune in as we explain what carbon accounting actually is, and how companies are integrating it into their operations while boosting profits.
Featured materials:
CREX | Linkedin
NextBillion.ai | Linkedin
Momentum Works Immersions: F&B innovations
E86: Luckin Coffee opens 20,000th store, The Impulso Podcast
E76: Starbucks vs Luckin in China, who is winning?, The Impulso Podcast
E70: Succession - successful tech founders’ dilemma
Chapters:
0:00 Intro
1:00 Why CREX and not TREX?
3:30 Aligning sustainability to your business goals
12:10 All about algorithms
21:35 Irrational behaviours - can they be changed?
30:48 Understanding (and changing) human behaviour
37:19 Recycling: Aluminium versus plastic
51:10 What is carbon accounting?
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Starbucks has replaced CEO Laxman Narasimhan with Chipotle CEO Brian Niccol, in hopes that he can help revive Starbucks fading sales.
Since the beginning, Starbucks has had an interesting and evolving history of CEOs. What does this new leadership change mean for Starbucks? Is new leadership all that is needed for Starbucks to turn the tide?
Tune in to the latest episode of the Impulso podcast as we explore Starbucks’ leadership history, the challenges the company is currently facing, and examine why some founders/leaders just can’t seem to leave.
Featured materials:
Momentum Works Immersions: F&B innovations
E86: Luckin Coffee opens 20,000th store, The Impulso Podcast
E76: Starbucks vs Luckin in China, who is winning?, The Impulso Podcast
E70: Succession - successful tech founders’ dilemma
Chapters:
0:00 Intro
0:12 Starbucks announces new CEO
4:25 Was Laxman’s time on the ground helpful?
7:40 Who is Howard Schultz?
12:35 Why can’t founders find good successors?
15:40 Culture eats strategy for breakfast - what can leaders do?
22:05 Starbucks faces strong competition in China
23:25 Momentum Works F&B immersion
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Chagee has returned in Singapore (after leaving earlier this year). Their grand opening drew massive crowds, with queues stretching for over an hour.
We did a poll on our WeChat, and more than 50% of respondents believe that Chagee will dominate the market. But what makes Chagee stand out in a crowded field of competitors?
Tune in to the latest episode of the Impulso podcast as we delve into Chagee’s business model, compare it to its competitors, explore the rise of Chinese F&B brands in the region, and discuss the fundamental challenges faced by F&B companies.
Featured materials:
Momentum Works Immersions: F&B innovations
Coffee in Southeast Asia, Momentum Works
Luckin Coffee opens its 20,000th store, The Low Down
Bubble Tea: The business behind Southeast Asia’s favorite drink, Momentum Works
E76: Starbucks vs Luckin in China, who is winning?, The Impulso Podcast
E63: How does Luckin Coffee open 1000 new stores every month?!, The Impulso Podcast
Chapters:
0:00 Intro
0:32 Chagee reenters Singapore with grand opening
1:54 Chagee’s first entrance
5:15 How will they perform after reentering
7:15 What makes Chagee stand out?
12:21 Is Luckin copying Chagee?
14:00 The story behind Chagee’s founder
18:52 Bingxue in Jakarta
21:00 Singapore’s saturated beverage market
24:10 What are the fundamental challenges faced by F&B players?
26:00 Dealing with different cultures
28:05 Chagee at the Paris Olympics
30:15 Momentum Works F&B immersion
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Luckin Coffee has opened its 20,000th store, in Beijing! This comes as no surprise as Luckin has been bold in its expansion, opening almost 1,000 every month in Q4 2023.
But how did Luckin achieve this incredible growth? Are they trying out a new business model in their 20,000th store?
Tune in to the latest episode of the Impulso podcast as we dive into the data-driven strategies behind Luckin's success.
Featured materials:
Momentum Works Immersions: F&B innovations
Coffee in Southeast Asia, Momentum Works
Luckin Coffee opens its 20,000th store, The Low Down
E76: Starbucks vs Luckin in China, who is winning?, The Impulso Podcast
E63: How does Luckin Coffee open 1000 new stores every month?!, The Impulso Podcast
Chapters:0:00 Intro0:46 Luckin Coffee Growth3:20 Handcrafted Coffee in Beijing4:50 Supply Chain6:20 Luckin Products8:05 Brand Partnerships11:05 Competition in Singapore13:50 Chagee19:40 Upcoming events
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When Delivery Hero acquired Baemin in 2021, the company was financially strong. However, Baemin is now struggling, losing market share to Coupang Eats and dealing with the resignation of its CEO, Lee Gyuk Hwan. What does this mean for Baemin’s parent company, Delivery Hero, which relies on Baemin to subsidise other loss-making markets?
Baemin is not the only platform under Delivery Hero facing intense competition. The company’s global portfolio, including operations in the Middle East, Europe, and Southeast Asia, is also under significant pressure.
Tune into this latest episode as we dive into the challenges Delivery Hero is facing in its key markets and the shifting dynamics of the food delivery industry.
Featured materials:
Food delivery in Southeast Asia 2024, Momentum Works
Momentum Works Immersions: F&B innovations
EP62: What is the “right price” of Foodpanda for Grab?, The Impulso Podcast
Should Meituan acquire Foodpanda?, TheLowDown
Foodpanda sells its most valuable asset to Uber, TheLowDown
Meituan becomes top food delivery player in Hong Kong, TheLowDown
Will Meituan beat DeliveryHero in Saudi Arabia?, TheLowDown
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