Beck Chen : Thank you, Alicia. So Beck. Let me address your two questions. So for the first question, so it’s just like we can. So we finished like the campaign. So still there is — I don’t think there’s enough time for us to evaluate like just three days daily sales to give you some color or comment for the post of 11 campaigns trend. So in terms of the second question, so about the right cost. So in terms of the of absolute dollar amount of the right cost, yes, it has increased either on Q-on-Q level or year-over-year level and overall and is still growing robustly, especially our units is growing by 29%, with which our accounts business is growing by 25% as we have discussed before. So this is just the cost overall and it is growing.
But in terms of like unit cost as per like the order level or per level basically is efficient in the same on a year-over-year basis. And in Q4, basically because usually it’s like the summer season. So — and it takes more to recruit and retain riders compared to spring time or like the autumn season. So in Q44, we believe on a year-over-year basis, our per unit cost for the riders will decrease on a year-over-year basis.
Alicia Yap : Okay. Thank you, Beck.
Operator: Next question comes from Lei Zhang with Bank of America. Please go ahead.
Lei Zhang : Thanks management for taking my questions. My first question is regarding the impact from our progress lower the threat could deliver to RMB59 in Q3? And can you share more color on this? Secondly, I noticed that we have disclosed live streaming the number during Double 11. And can you give us more thoughts on how — on your movement regarding live streaming models? Thank you.
Jeff He: Thank you for your question. Since the end of July, our delivery fee wafer campaign has covered basically all supermarket orders. And after that, we found that both conversion rates and repeat purchase rate increased, while AOV remained largely stable. Specifically, in August compared with July, the overall conversion rate of our supermarkets category improved by over 10%. And the next month, retention rate also increased by over 10% while the AOV was substantially unchanged. Therefore, thanks to the initiative the year-over-year growth of our GMV in the supermarket category accelerated in the third quarter of 2023 compared with the second quarter. And the program will be a long-term initiative to improve user experience.
In terms of the P&L impact, since the cost of the delivery fee waiver is shared by us and our merchant panels, the impact on the direct margin of JDDJ is in dozens of dips and manageable for us. To answer your second question about live streaming. As we’ve taken note of the rising popularity of live streaming during the Singles Day promotion that just ended, JDDJ launched multiple live streaming events together with merchants and brands in categories, including supermarkets, consumer electronics and home appliances. This was the first time that our frontline operational teams engaged with retailers — engaged with consumers to offer them value for money products deliverable within one hour. And we did see initial results with some sections attracting total yields exceeding RMB1 million.
The total GMV transacted via live streaming grew more than tenfold versus the June ’18 promotion. Overall, we are still in the exploration stage for the live streaming business. We plan to further optimize the process and enhance the product capability to better integrate LBS with live streaming. In the future, we are also going to encourage local merchants on our platform to host regular live streaming sessions so as to provide our users with more immersive on-demand shopping experience. Thanks for your question.
Operator: The next question comes from Wei Xiong with UBS. Please go ahead.
Wei Xiong : My first question is that we see Dada Now revenue growth is outgrowing our JDDJ day this quarter. Do we expect that trend to continue in the fourth quarter and next year? And also the revenue mix shift, how would that impact our margin outlook in the fourth quarter next year as well? And secondly, just a housekeeping question. Could management share the GMV mix and AOV trend in this quarter? Thank you.
Beck Chen : Okay. So about the first question, so basically, we expect still the two platforms will grow similar speeds in the following quarters or next year. So for the second question about GMV mix. So the broader supermarket category is still accounting for close to 50% of the GMV amount, while the 3C and electronics account for 40% of the total GMV amount. And in terms of the average order value. So in Q3, the LV is like — sorry, RMB250. This is like update for Q3. Thank you.
Operator: We have come to the end of our Q&A session. I’ll now hand back to Ms. Caroline Dong for closing remarks.
Caroline Dong: Thank you, operator. In closing, on behalf of Dada’s management team, we’d like to thank you for participation in today’s call. If you require any further information, please feel free to reach out for us directly. Thank you for joining us today. This concludes the call.
Operator: It does conclude our conference for today. Thank you for participating. You may now disconnect.
