WeChat Mini Store fully opens gift-giving feature before the Spring Festival, with whitelist users reaching 300 million

WeChat recently conducted a gray-scale test of the gift-giving feature, marking a key move for Tencent to re-enter the e-commerce market. This feature has driven the stock prices of WeChat S-level service providers WEIMOB INC and YOUZAN to rise over 31% and 10% respectively today. According to a leaked document titled "WeChat E-commerce Communication Meeting Minutes December 20, 2024," WeChat plans to fully open the gift-giving feature of WeChat Stores before the Spring Festival. Users can use the feature by updating to the new version of WeChat and reopening it after clearing the cache. This feature has been in gray-scale testing for some time, and large-scale external opening has been less than a week, with over 300 million whitelist users and a cumulative reach of over 40 million users. On December 19 alone, nearly 2 million users placed orders through this feature, with a cumulative GMV of less than 400 million. The document also reveals that WeChat e-commerce's current assessment indicators are the average daily number of gift-giving users, average daily order volume, and average daily GMV. This year, WeChat's total e-commerce scale is expected to reach 40 trillion to 50 trillion. Before the 618 shopping festival in the first half of next year, Zhang Xiaolong and Tencent Group will observe whether the social e-commerce ecosystem can take off and whether GMV can explode, but currently, there is no full confidence that indicators such as merchant onboarding and purchasing users can meet the group's expectations. The document also shows that WeChat's video account e-commerce has implemented the Hunyuan large model, which is applied in searching for product card recommendations, recognizing, understanding, and predicting user search intent, as well as in short video information flow e-commerce advertisements within the video account