The Impulso Podcast

So, TikTok went dark after the US ban, for about 14 hours. Then, it was back online, with a message crediting its return to “President Trump’s efforts.”

TikTok, with over 170 million users in the US, is one of the biggest platforms in the U.S. with a huge ecosystem of creators, merchants, and consumers. Its brief shutdown caused a stir, even prompting some users to flock to Xiaohongshu with the trending hashtag  #TikTokRefugees.

TikTok’s return came after President Trump specifically confirmed there will be no liability for any company that helped TikTok from going dark before an executive order to be issued on day 1 to keep TikTok running.

How would things evolve from here? Will TikTok survive in the medium and long term in the US? 

Tune in to find out more! 

Chapters:

00:00:15: The Dynamics of the TikTok Ban

Featured materials: 

How will TikTok’s fortunes in the US evolve from here?, TheLowDown

E66: TikTok has no good options, The Impulso Podcast

What makes capybaras so irresistibly popular amongst Chinese youth? From their zen-like calm to their unbothered personalities, these gentle rodents have become internet sensations.

Baidu backed Ji Yue Auto, an EV manufacturer, found itself in deep trouble after failing to pay its employees’ social security. One of Jiyue’s live stream hosts even broke down mid livestream,“I worked so hard, and now the company is gone?”

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:

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?

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: 

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?

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:

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

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:

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? 

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?

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