Vipshop Holdings Limited (NYSE:VIPS) Q3 2022 Earnings Call Transcript

David Cui: Yes. I think, Eric answered the key points on this question. Just to clarify that the drop in ARPU is not because of the standardized item. It is purely because of the revenue mix. The apparel, clothes and shoes categories increased. We did pretty well on that part. And apparels have higher return rates. And we believe that the return rates in future will remain relatively stable and that will not worsen as the situation on ARPU. And the other reason that you actually pointed out, is that because of the softer consumers’ demand and people spend less and also the summer season. So, the consumption is soft. And that contributed another reason for that. Thank you.

Operator: Thank you. Due to the time constraints, that concludes today’s question-and-answer session. At this time, I will turn the conference back to Jessie for any closing remarks.

Jessie Zheng: Thank you for taking the time to join us today. If you have any questions or follow-ups, please don’t hesitate to contact us. We look forward to speaking with you next quarter.

Operator: Thank you. This does conclude the conference for today. Thank you for participating. And you may now disconnect.