The Impulso Podcast

The quick commerce war happening in China right now has seen billions of dollars spent. There have been a record number of subsidies pumped into the war by the major players - over RMB20 billion and counting, and a record number of orders by consumers - 120M daily orders on a single platform. In this episode, Jianggan and Sabrina dive right into the centre of the battle of the giants - Taobao, JD.com, and Meituan. From billion-yuan subsidy pledges to PR wars, this quick commerce showdown is reshaping not just consumer habits, but also how these tech giants are positioning themselves for the future. Timestamps: 00:00:30 – Someone ordered 2,200 cups of bubble tea for free? 00:05:00 – What is happening in China right now and how did it start? 00:07:50 – Chinese government has something to say about all of this 00:10:45 – Meituan’s CEO says this subsidy war is pointless?! 00:15:30 – Who’s likely to win… and what happens next

Chinese customs have been busy catching fake Labubus - one airport even found to up 34,000++ fake labubus. Why are the chinese customs so zealous about fake Labubus? What is driving the rise in fake Labubus and what does this mean for Popmart? In this episode, Sabrina and Jianggan unpack what’s driving the wave of fake Labubus, how resale speculation is heating up, whether Pop Mart is quietly engineering a soft landing for its hottest IPTune in as we explore:- The customs raids and how officials discovered tens of thousands of fake Labubus;- Why Labubu’s resale value has skyrocketed — and the risks that come with it;- What a "soft landing" might look like for Pop Mart;- Why Pop Mart may be taking steps to cool things down — on purpose.Timestamps:00:00:45 – Chinese customs crack down on fake Labubus00:02:10 – 34,620 toys in one suitcase?!00:03:30 – Why is Labubu driving a resale frenzy?00:05:15 – Is Pop Mart engineering a soft landing?00:08:00 – What happens if the Labubu hype crashes?Featured materials: Labubu makes no sense - and that’s why it sells | Impulso E124https://youtu.be/XtdXOygiixoBehind the Labubu craze: PopMart business explained | Impulso E103https://youtu.be/PLIq2UkvgwA

Southeast Asia’s ecommerce GMV hit $128.4 billion in 2024 — but growth has slowed to 12%, down from 15% the year before. Why did it slow down? Should industry players still be optimistic? In this episode, Sabrina and Weihan, the author of our 3rd Ecommerce in Southeast Asia report break down the key findings.Tune in as we explore:Why Thailand and Malaysia are now the region’s fastest-growing ecommerce markets;Thoughts on the industry by ecommerce and third party players 4 Key trends we see in EcommerceHow enablers are now evolving into brand builders themselves.Timestamps00:00:45 – SEA Ecommerce hits $128B, but growth slows to 12%00:02:00 – Why Thailand & Malaysia are the region’s fastest-growing markets00:07:30 – SPX overtakes J&T as logistics consolidates?00:09:30 – Can chinese & local brands challenge global players?00:12:00 – Will enablers start launching their own brands?Featured materials: Ecommerce in Southeast Asia report, Momentum Works Transforming ecommerce with AI: Sell smarter, shop betterHow AI is unlocking $131B in SEA ecommerce | Impulso E125

AI can unlock up to US$131 billion annual ecommerce GMV in Southeast Asia by 2030. With the increasing popularity of ecommerce,  we launched a report studying how AI is already transforming the way we shop, and how it will continue to do so in the future. In this episode, we talk about the average Southeast consumer’s journey with AI, how we use it, and why it can unlock US$131 billion in GMV by 2030. Are consumers okay with AI listening in on conversations? Is AI listening to our daily conversations, and are consumers okay with it? How are consumers reacting to AI?Tune in to hear our thoughts! Timestamps:00:00:30 - Different ways AI is being used in ecommerce How platforms like TikTok recommend products you didn’t know you wanted00:02:10 -  How we, as consumers, use AI 00:03:45 -  Does AI enhance the shopping experience? 00:07:30 - AI might not be as helpful as we think now? 00:10:45 — Is AI listening to us? The eerie side of hyper-personalized shoppingFeatured materials: Ecommerce in Southeast Asia report, Momentum Works https://momentum.asia/product/ecommerce-in-southeast-asia-2025/Transforming ecommerce with AI: Sell smarter, shop betterhttps://momentum.asia/product/transforming-ecommerce-with-ai-sell-smarter-shop-better/

Labubu is everywhere - from TikTok edits to custom BBLs, to collectors spending hundreds to make theirs one of a kind. In our previous Labubu episode, we spoke about the business behind Popmart and why it is so popular. In this episode, we go further into the consumer’s psyche, over a toy that has no practical purpose. Tengian, Elody, and Phyllis discuss: How customization, scarcity, and storytelling drive fan cultureThe emotional psychology behind spending on toys with zero utilityHow Pop Mart turned Labubu into its #1 revenue driver — surpassing MollyWhy fights are breaking out in stores… and what that says about hype economicsTimestamps00:01:00: Why people are customizing and giving BBLs to Labubu00:03:30: The cost of a single collectible (and its emotional value)00:06:00: Why useless things make better business00:09:00: Labubu surpasses Molly: Pop Mart’s growth explained00:11:30 – International hype, bans, and resale frenzyFeatured materials: E103: Behind Labubu Craze: Popmart Business explained https://youtu.be/PLIq2UkvgwA?si=zYwDVzisoavFZgjU

Luckin Coffee is finally entering the U.S. — starting with New York City. Will Luckin be able to challenge Starbucks in its own backyard?Many mistake Luckin’s product as simply coffee. It is not - Luckin is more like an ecommerce company. Tune in as we explore: Luckin’s platform-like model, and how it turns its coffee stores into mini fulfillment centers;Why Luckin launched in New York, unlike Chagee in Los Angeles;How Luckin’s digital DNA gives it a global edge;What challenges Luckin may face, particularly in terms of organisation and people00:01:00 – Luckin launches in New York00:04:30 – Food trucks and free coffee: how Luckin builds brand00:07:30 – Luckin is more like an ecommerce platform than coffee chain00:11:10 – This is not Luckin’s first international venture  Featured materials: Luckin Coffee enters Malaysia with an unconventional partner, TheLowDownhttps://thelowdown.momentum.asia/luckin-coffee-enters-malaysia-with-an-unconventional-partner/Luckin Coffee lands in New York: Can it take on Starbucks at home?, TheLowDownhttps://thelowdown.momentum.asia/luckin-coffee-lands-in-new-york-can-it-take-on-starbucks-at-home/E86: Luckin Coffee opens 20,000th store, The Impulso Podcast https://www.youtube.com/watch?v=MRg4JqFMmwkCoffee in Southeast Asia, Momentum Workshttps://momentum.asia/product/coffee-in-southeast-asia/

In this episode, we dive into the world of quick commerce - also known as “insta shopping” or “near field commerce” by our insights team. In markets like China and India, companies are starting to set their delivery goals within 15 to 30 minutes. We break down what really happens behind the scenes after an order is placed on your smartphones: the logistics, the tech, and the very different operation models behind 15 minute vs 30 minute deliveries. Are 15 minute deliveries even feasible? What challenge do platforms, merchants and riders face in making it work? Will 15 minute delivery become the future of ecommerce? 00:01:00 – What exactly is quick commerce and what are the expectations around the world? 00:03:05 – Insights from inside a dark store 00:06:20 – How does the platform choose to prioritise online orders, or physical shoppers? 00:09:00 – What are the struggles the riders are facing? 00:13:00 – Are 15 minute deliveries feasible? Featured materials: Upstream movie on Netflix: https://www.netflix.com/sg/title/81946536

In this episode, we dive into Didi’s launch of its food delivery service in Goiânia through its local brand 99Food — and why it did so before Meituan’s Keeta.Tune in as we unpack:Didi’s decision to launch in Goiânia, a mid-sized city, over São Paulo;How past experience in Brazil shaped Didi’s approach;Will we see a repeat of the 2017–2018 Meituan vs. Didi battle;Whether Didi’s existing fleet and org structure give it an edgeCompetition is heating up in Brazil’s food delivery scene, and it would definitely be an interesting battle to watch. 00:00:49 – Why Didi chose to launch in Goiânia, not São Paulo?00:01:55 – Did Meituan force Didi to accelerate its relaunch?00:03:03 – What Didi learnt from the 2019 failure 00:05:07 – Didi vs Meituan battle in China, 2017–201800:08:01 – What about iFood, the 90% incumbent? 

In this episode, we get candid with our colleagues on how and where they actually shop for clothes—and what that says about the future of fashion.From Pinterest and RedNote, to flea markets and Brandy Melville, we explore how social media and offline experiences are shaping buying decisions. We also dive into emerging trends like capsule wardrobes, color analysis, and whether fashion magazines still hold cultural weight.Beyond just buying behavior, we also discuss what “fashion consciousness” looks like among today’s consumers: Do we still care about brands? Do TikTok trends actually influence purchases? And has fast fashion lost its appeal?Tune in to hear how four women across Asia are navigating the balance between aesthetics, values—and a crowded closet.Chapters:00:00:43 – How young women across Asia shop for clothes (online vs offline)00:02:15 – Where style inspiration really comes from: Pinterest, TikTok, Rednote00:05:01 – Are we minimalist or maximalist? Capsule wardrobes vs impulse buys00:10:56 – Is fashion still about brands—or just what makes us feel good?

Luckin is buying coffee beans, Meituan is sending teams to map the streets—and BYD is rolling out electric buses across São Paulo. Amidst uncertain times, one thing seems to be sure - Chinese tech giants have their eye on Brazil. In this episode, we talk about why everyone in China’s consumer scene suddenly seems to have their eyes on Brazil. From TikTok Shop to Meituan, and from local competition to cultural adaptation, we dive into what’s driving this strategic push and whether it’s built to last.But beyond business strategy, we also unpack the deeper context: the increasingly close relationship between China and Brazil’s governments, Lula’s seemingly increasing popularity, and what this might mean for both countries. Chapters:00:00:43 – Why are Chinese companies flooding into Brazil now?00:02:05 – Chinese F&B giants are going into Latin America00:04:05 – Lula’s good relationships with China 00:07:31 – What is in it for both countries?